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January 28, 2007


So I think you're saying that a majority in the board room and on the cap table only yields power on liquidation/funding events, which makes sense to me. Could you clarify what decisions actually require full board votes? From the sounds of it, the board can't formally get the CEO's foot of the pedal without firing him, and what you're saying is that sort of thing needs to be squared away before liquidation/funding events no matter what level of control the investors have, since there will likely be no funding if they don't re-up in later rounds...

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