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Reflecting on My Failure to Build a Billion-Dollar Company

(medium.com)
2101 points jamesjyu | 4 comments | 07 Feb 19 15:28 UTC | HN request time: 0.62s | source
1. lordnacho ◴[07 Feb 19 21:58 UTC] No.19109002[source]▶
Why would KPCB sell back their stake for $1? Why not just hang on to the stock just in case it turned around? The explanation that they didn't want the overhead of appointing a board member sounds strange. If you don't like the company, send a junior person who can learn board membering in an unimportant firm.
replies(3): >>19109041 #>>19109089 #>>19109364 #
2. ◴[07 Feb 19 22:04 UTC] No.19109041[source]▶
3. buf ◴[07 Feb 19 22:09 UTC] No.19109089[source]▶
tax loss harvesting
4. winslow ◴[07 Feb 19 22:40 UTC] No.19109364[source]▶
Sounds like they wanted the tax benefit of marking a loss on the investment.