The Reboot Podcast #9 Investing in Trust - with Fred Wilson and Jerry Colonna
16 snips
Jan 13, 2015 
Experienced investor Fred Wilson and startup veteran Jerry Colonna discuss the importance of trust in investing and the qualities of a good leader. They share stories from their partnership, reflect on their own entrepreneurial journey, and explore the moral obligations and challenges of tough decisions in the startup world.
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Ambition And Terror At Launch
- Fred Wilson recounts starting a VC firm with three young kids, a mortgage, and no income while terrified and ambitious.
- He calls that mix of ambition and terror the defining entrepreneurial combination.
Staying With A Sinking Ship
- Fred shares the Star Media experience where his stake once exceeded $100M and he never sold any stock.
- He stayed on the board through bankruptcy and calls it a mistake rooted in misplaced loyalty.
Board's Moral Obligation
- Fred learned the board has an obligation to do right by all stakeholders, not just founders.
- That duty includes intervening when founders are out of their depth to protect employees and customers.