Topic · 5 threads

Fundraising Ethics

What investor behavior crosses the line, and what should founders do about it? These threads document bias-driven passes, post-term-sheet pressure tactics, and the candor gap in feedback, mostly named firsthand by the founders who lived them.

Cloudflare's Worst VC Stories: The Sequoia Pass and the Andreessen Ambush

Cloudflare's CEO shares two of the company's worst fundraising stories: a Sequoia partner who passed because he didn't think a woman (co-founder Michelle Zatlyn) could lead a security infrastructure company, and an unprepared meet-and-greet with Marc Andreessen that turned out to be a full pitch. Posted during the June 2026 viral VC horror-story wave.

Objections & RejectionFundraising EthicsSeed Read the breakdown

The Khosla Dinner: 'Fire Your Co-Founders and Take Their Stock'

Prince's follow-up horror story: after Khosla Ventures issued a Series C term sheet, Vinod Khosla allegedly leaned over at dinner, while Prince's co-founders were away from the table, and suggested Prince fire them and take their equity. Cloudflare didn't take the money.

Fundraising EthicsTerm SheetsSeries B+ Read the breakdown

The GP Who Slept Through a $15M Series A Pitch

Isenberg describes pitching a $15M Series A at a top-3 VC firm while one of the general partners slept for 30+ minutes and everyone pretended not to notice. The post kicked off the June 2026 viral wave of founders sharing VC horror stories, drawing replies from Mark Pincus, Travis Kalanick, Matthew Prince, and others.

Investor MeetingsFundraising PsychologySeries A Read the breakdown

Free Pitch Feedback for Black Founders: Closing the Candor Gap

The closing post of Chen's June 2020 thread offering Black founders direct, live pitch feedback, the kind VCs are typically uncomfortable giving, naming the candor gap as a concrete fundraising disadvantage.

Fundraising EthicsPitch DeckAny Stage Read the breakdown

SC Emerging Managers: Chamath Funds New Investors from Nontraditional Backgrounds

Chamath announces Social Capital's Emerging Managers program: money, training, and community for aspiring investors from diverse, nontraditional backgrounds, the other side of the fundraising table, on who gets to allocate capital.

Alternative CapitalFundraising EthicsAny Stage Read the breakdown