AdValorem Syndicate

AdValorem Syndicate

FAFO: When Founders Learn the Hard Way (Part 3 - No one cares about small investors, but I do.)

In the last article, Ethan and Lila “got away with it.” This time, they don’t. This is FAFO for founders: Fool Around, Find Out.

Val Kleyman's avatar
Val Kleyman
Feb 08, 2026
∙ Paid

TLDR: Don’t think “they’re small, they won’t fight” is a strategy.

Because some investors will fight. They will bring receipts, lawyers, statutes, and case law. And when the dust settles, they will win equity, money, fees, and consequences you never imagined were on the table.

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