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hmokiguess | on: I'm Eric Ries, author of "The Lean Startup" and new book "Incorruptible" – AMA
I've read The Lean Startup during undergrad and it was a bible to me at the time, thank you for your work, you got me into startup culture in a place where everyone else did not support of it.

One question I have for you is on finances, I think that still remains an afterthought in startup hustle culture, and perhaps even by design, I feel like the system is designed so that VCs keep winning and founders rarely get the exit they deserve. What is your take on that?

jojopinli | parent | next
When starting a company, perhaps it’s best to consider something you love doing so much that staying there and nurturing the business is more important than exiting.

That and, don’t accept money from strangers. :)

eries | parent | next
Thank you for saying that. When I wrote that book, people like you were very much in my mind at the time. I'm really glad to hear you found it useful, even if the people around you didn't understand or support what you were trying to do.

You're quite right. There are many, many problems with the current "best practices" including that many founders wind up with nothing even if the organization succeeds. In fact, one study I cite in the book found that something like 80% of founders of venture-backed companies will no longer be CEO even three years after an IPO.

ai_slop_hater | root | parent
> In fact, one study I cite in the book found that something like 80% of founders of venture-backed companies will no longer be CEO even three years after an IPO.

Why? Is there something that inherently prevents founders to remain in control after IPO?

eries | root | parent
Yes, it's called today's governance "best practices." Many of them are actually quite value-destroying, and founders should run for the hills every time they hear that phrase.
gkanai | parent
> the system is designed so that VCs keep winning

The way around that is to not take VC money. There are some (not many) startups that got to unicorn status by bootstrapping and not taking outside money. It's harder, yes, but in a way a more pure effort.