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Paul Graham

Startup School 2010 speech


Graham talks about the limitations of the VC model:

VCs, if they can get it, want a third of your company…there is a critical constraint in the VCs model, which is they take a board seat.

He says this constrains their ability to launch funding rounds:

[It] limits VC companies to two ‘classic’ Series A seed fund deals per partner per year

Paul Graham – Startup School 2010