Cram Down Distribution Down Round Management 
Steve Blank
NOVEMBER 2, 2009
In times when venture capital is hard to get, investors extract high costs for failure (down-rounds, cram downs , new management teams, shut down the company.) Lean Startups aren’t Cheap Startups « Steve Blank (tags: startup product-management strategy) [.]
Growthink Blog
MAY 23, 2011
Management has the wrong pedigree, is geographically undesirable, competes in the wrong industry, and/or has a business model that lacks "scalability credibility" with the venture community. At the end of the period, all profits and proceeds are distributed to the various partners on a pre-determined split.
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