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Re:Well, We Failed – Wattage is shutting down by URSpider94 on Wednesday May 06, 2015 @12:23AM (#9496577)
Under U.S. corporation law, shareholders have very little ability to affect corporate management, unless they own a large enough stake to impact board elections. In a start-up valued at $1MM post-money, these 10 angels are not going to own more than a couple percent each, while the founders will control 75 percent of the company. The founders will have more than enough voting control, assuming they vote together, to ignore the investors.
Re:Well, We Failed – Wattage is shutting down by pbreit on Wednesday May 06, 2015 @12:59AM (#9496666)
He might be talking about Canadian law which I would admit can be goofy with respect to startups. But I still don't think it's that big a deal.