Secret aside, if you think "Founders took money off the table and then company crashed!" is a WTF, let me explain the deal VCs get.
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The management fee -- traditionally 2% -- is a yearly charge based on the fund's size. VCs generally get it regardless of fund performance.
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Every professionally funded startup in history, including the ones which flamed out ingloriously after showing early promise, generates fees
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@patio11 that's on their AUM for investors, or on investments? You don't make yearly payments to your VC, right?Thanks. Twitter will use this to make your timeline better. UndoUndo
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