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“One founder was telling me that their investor has asked for weekly updates in an email format with an up to date P&L,” said my business partner. “That’s hard, because what he really wants to do is run his business and not provide updates to investors. That’s not his job.”
“Even better,” I replied, “I once had an investor send us a 10-page format complete with biographical requirements for all key hires with the option for them to stage a final interview.”
We both exchanged nervous and knowing laughter, wishing that we had read about these issues before taking on venture investment.