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Jess Sloss !!!
@jess
What’s the dumbest or most annoying thing VCs do?
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androidsixteen
@androidsixteen.eth
Fail to manage outside counsel well
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Jess Sloss !!!
@jess
Tell me more…
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androidsixteen
@androidsixteen.eth
As funds get bigger, they employ white-shoe outside counsel to paper deals. Incentives break between the two - VCs should move fast and reduce spend (of their own money) but OC wants to bill more hours + get incrementally better terms. If inside counsel / GC is checked out, founders have to grind against OC
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