These days I only take a board seat in my portfolio companies if—and this is a major condition—they are surging or under some sort of unfriendly attack that requires me to join the board to protect them and other shareholders. Outside of my own investments, the only way I would join a board of a startup is if the founders were friends or I were massively passionate about the company. Why? Life is short and the return of being on a board these days would be de minimis compared to my returns as an investor.
