Seems like 3 is a bit pessimistic. After all, if there are 3 founders then that greatly decreases the chance that the CEO steals equity from the other 2 cofounders. The CEO generally wouldn't have > 50%, so the non-CEO co-founders could keep the CEO in check.

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jagged-chisel 3 hours ago | parent | next [-]

Seems accurate according to my experience. It’s the new investment banks in later rounds that cause it. Bigger investments, stronger guarantees, better preferences, and lack of understanding on the part of inexperienced founders, plus lack of power held by the employees options pool … recipe for “only the banks see any upside.”

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dnnddidiej 4 hours ago | parent | prev [-]

Is there even a CEO per-se in this situatuon?

	▲	deaux 3 hours ago \| parent [-]
		Depends on country and type of business entity. Some of them require one legal representative.