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Clear Eyes , Full Heart

๐ŸŒˆ Abstract

The article discusses the author's experience of being removed from their position as a co-founder of the early-stage fund New Wave, against their will. It provides details about the circumstances surrounding their departure and the subsequent events that followed.

๐Ÿ™‹ Q&A

[01] Clear Eyes, Full Heart

1. What happened when the author was removed from their position as a co-founder of New Wave?

  • The author was removed from their position as a co-founder of New Wave by their partner, against their will.
  • The author felt a responsibility towards the entrepreneurs, investors, and stakeholders, and did not intend to let this happen.
  • The author proposed an amicable separation, where they would leave the control to their co-founder, reduce their fees significantly, and commit 100% to the entrepreneurs.
  • However, the author's co-founder had a different opinion on the right and moral thing to do in this situation.

2. What was the author's approach to handling the separation?

  • The author thought the most elegant way to handle the separation was to let the investors know about the situation and act upon their will regarding the second fund.
  • The author was surprised when their co-founder asked them to get a lawyer, as the author was giving away the vast majority of the economics after having contributed beyond expectations.
  • The author realized they had been fooled when their co-founder threatened to fire them for cause if they did not help close a second fund, where the author would remain active on paper.

3. What was the author's stance on the right thing to do?

  • The author felt that the right thing to do was to deploy the first fund in the best possible conditions, which they managed to do.
  • The author thought it was the right thing to simply let the investors know about the situation and act upon their will, but this did not happen.
  • The author regrets that the investors were not informed about the situation, as most were not even told that the author was fired.

[02] Now What?

1. How does the author describe their current situation and commitment to entrepreneurs?

  • The author shares as much as they can, as honestly and efficiently as possible, and is committed to always doing the right thing by the entrepreneurs and investors.
  • The author finds the current entrepreneurial journey to be extraordinarily rewarding and exciting, describing it as a "learning expedition" and a "thrill."
  • The author remains eternally optimistic and excited, rising to try again despite facing setbacks, as it's not about the destination but the journey.

2. How did the author receive support from the community?

  • The author received a lot of support from founders they had worked with in the past, as well as investors they had collaborated with, after one of the founders tweeted a heart emoji.
  • The author is immensely grateful for all the support they have received.
  • The author concludes by saying their "eyes are clear" and their "heart is full."
Shared by Daniel Chen ยท
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