Going back years, venture firms have given Kalanick and his peers outsize control and influence over their companies. Going back years, venture firms have given Kalanick and his peers outsize control and influence over their companies. According to Benchmark, Kalanick got investors to sign off on the measure “fraudulently”, by, among other things, hiding “gross mismanagement” at the company. Last year, $41.6 billion was raised by venture firms, the most since the dotcom era, according to the National Venture Capital Association. For a long time venture firms were loath to crack down on founders for fear they’d go elsewhere for capital.

Source: Indian Express August 12, 2017 08:53 UTC