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There's a lotta grumbles about Sam and YC taking this stance at VCs these days. FWIW I think it's about right but SO hard to judge.

That's interesting. I'm guessing the investor complement to this would be the option to get your money back if a company chooses to go in a wildly different direction?

I've seen that sentiment around more of late, possibly as a result of the glut of seed-stage startups who are pivoting after failing to raise an A.

What if the investors were also mentors that helped guide the startup to a particular potentially-successful pivot?

What is the best way for founders to structure their pivots then in your opinion?