This chapter discusses the importance of building and controlling the board of a business for long-term success. It covers topics such as board seats and behavior, shareholder voting, preferred rights, and stock grant agreements. The speaker emphasizes the need for founders to have majority control of the board seats and highlights the challenges and considerations related to future capital raises and adding new members.
Episode 70: Alex Lieberman (@businessbarista) and guest Brett Adcock (@adcock_brett), discuss how to successfully build a startup board. Brett is a serial entrepreneur who has raised over $1 billion of venture capital and has constructed four boards during his career. He is currently building Figure, an AI robotics company, and before Figure, he built Archer, an electric vertical takeoff and landing business that was taken public via SPAC. Brett also founded Vettery, which sold to Adecco for $100 million. Brett shares his thoughts on boards and what founders must think about to intentionally build one.