If you were to log in, you'd be able to get more information on your fellow community member.
Based on Philip's comments above and others' elsewhere, I'm speculating that part of the reason for going VC was a belief that he was ill-prepared to oversee a company this size and outside execs might do better - but this decision was based on scant to no evidence that the new execs would be competent at running this particular business. (Hiring based on evidence rather than "touchy-feely" intution alone?! Radical concept, isn't it? It'll never catch on.) This is a little like hiring a programmer to work on a critical project without any evidence that they are able to write code - only much worse, because of the control aspect. How can you gather evidence that someone is competent to run a software company? I don't know - but as Philip now recognises, if they have never run a software company before that is one red flag.Other obvious ones would be if they have caused many key staff to resign in previous businesses, or if they seem clueless about basic principles o...