Overview

""They promised partnership. They delivered betrayal. One founder's devastating journey through venture capital-and the lessons that could save your company."" In 1988, an entrepreneur built a successful software company from his basement with nothing but a maxed-out credit card and a vision. By 2003, his company was generating $2.4 million annually, profitable, and growing steadily. Then came the phone call that changed everything. ""We've been watching your company with great interest,"" the venture capitalist said. ""With our help, you could be looking at forty-eight million dollars in five years."" Twenty years of work. Gone in seven years. This is the unflinching true story of how venture capitalists systematically dismantled a founder's company through a coordinated pattern of isolation, financial manipulation, and legal entrapment-all while maintaining their fiduciary duties on paper. WHAT HAPPENED: 2003: Took $3 million in Series A funding, gave up board control 2007: Forced into a ""cramdown"" Series B that diluted ownership from 66% to 10% 2008: Terminated as CEO with no severance despite contractual promises 2009: Frozen out at $0.043 per share while VCs planned a $20 million sale 2010: Lost lawsuit after spending $175,000 in legal fees 2011: Lost home to foreclosure, marriage nearly destroyed, health collapsed WHAT YOU'LL LEARN: Part One: The Ascent follows the complete timeline from first contact through termination, revealing: The seduction tactics VCs use to attract founders How board control was systematically seized The web of signed documents that became legal traps The emails showing premeditated conspiracy (""Let's just shoot him"") How a CEO ran a competing business while employed full-time The commission agreements that promised $1.4 million but paid $0 Part Two: The Evidence provides the documentation that courts dismissed: Hundreds of internal emails revealing the plan Timeline analysis showing deliberate patterns The ""smoking gun"" correspondence about planned exits Why two signed releases destroyed any legal remedy How judges interpret ""business judgment"" to protect VCs What the legal system doesn't protect Part Three: The System expands beyond one story to reveal: Why this pattern repeats across the VC industry Stories from dozens of other founders who faced identical tactics The seven-phase playbook VCs use to force out founders Structural reforms needed to protect entrepreneurs Practical action steps founders can take TODAY The alternative path: building without venture capital THIS BOOK IS FOR: ✓ Founders considering VC funding - Learn what term sheets really mean and which clauses will destroy you ✓ Entrepreneurs who've taken VC money - Recognize the warning signs before it's too late ✓ Anyone in a VC-backed company - Understand the incentives driving board decisions ✓ Lawyers representing founders - See how sophisticated VCs structure deals to win legal battles ✓ Investors who want to do right - Understand how the system incentivizes founder harm ✓ Business students and MBA candidates - Learn what they don't teach about VC dynamics

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