00:12 Scott Gerber: A lot of founders are going back to the VC model. They take this incredible amount of money, you go Series B, Series C, Series D, and all of a sudden the VCs come knocking in many cases and say, "We don't want you to lead the company any more", and they throw you out of the company. How do founders today protect themselves from... If they want to remain in the company, to stay as that leader, and secondarily, at what point should they be thinking, "Maybe it's time for me to step down?"
00:37 Naveen Jain: So first of all, the best thing you can do is to never take the VC money. Remember, that even though venture capitalists will tell you that their interests are well-aligned with you, they are simply vultures. Their job is to take every blood and every part of your body and assign to themselves. And they are vultures. They will suck you dry. So the best thing you can do to protect your company is to never take venture money. The second thing is, is to control the board. And the minute... If you don't do that... Third thing is to be able to control the shareholding, so a lot of the entrepreneurs are now doing two classes of stock. You have voting stock, that has 10 to 1 or 15 to 1 voting rights. So even though the investors may get most of the financial gain, but they still get to control the company even with a smaller equity. So I think the financial equity can be different from the control equity, and I think a lot of entrepreneurs can take advantage of that.