Founders’ Dilemma – Recipient of the Class of 2009 Faculty Award, Professor Noam Wasserman will discuss how early decisions around money and power in entrepreneurial ventures have important long-term consequences for founders and their ventures. Professor Wasserman’s research indicates that a founder who gives up more equity to attract cofounders, new hires, and investors builds a more valuable company than one who parts with less equity. More often than not, however, those superior returns come from replacing the founder with a professional CEO more experienced with the needs of a growing company. This fundamental tension requires founders to make "rich" versus "king" trade-offs to maximize either their wealth or their control over the company.