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A comment on VCs Are Not Your Friends. Parent comment

Re:VCs Are Not Your Friends by jonpaul on Thursday February 03, 2011 @01:21PM (#2175889)
I can't comment on the situation, but I think throwing the towel as a CEO is the wrong decision. Just because you don't have an upcoming round, your duty as a CEO is to the company in any condition that it's in, come hell or or high water. I would even argue that a CEO is almost married to the company.

Throwing in the towel when the going gets tough seems like a spineless move.

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Re:VCs Are Not Your Friends by damoncali on Thursday February 03, 2011 @02:35PM (#2176381)
Clearly there has to be some point at which the CEO calls it quits. Having a death-warrant placed on your funding seems like it might be one of those times - again, I'd love to hear from someone who has been there.
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Re:VCs Are Not Your Friends by redthrowaway on Thursday February 03, 2011 @07:08PM (#2177657)
As founder and CEO, the point at which you call it quits should be the point at which the company officially declares bankruptcy. That's your duty as CEO.
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Re:VCs Are Not Your Friends by damoncali on Thursday February 03, 2011 @07:44PM (#2177766)
Is it? I thought it was to maximize the value to your shareholders.
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Re:VCs Are Not Your Friends by redthrowaway on Thursday February 03, 2011 @08:24PM (#2177891)
And when it becomes clear that that's no longer a viable option, your job is to take care of bankruptcy, etc. You don't just jump ship.
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