These letters always feel kind of insincere. I can't imagine anyone really believes its a good thing when a founder is replaced. It seems like these kinds of posts are written for internal consumption. The same way you write a nice resignation letter to your boss, even if you're quitting because he's an asshole.

I don't mean that as a knock towards @adamsmith though. I know he's just going through the requisite motions.

It's kind of a damned if you do, damned if you don't situation.

If he is leaving under bad terms, he has to write a letter like this.

If he is leaving under good terms, he has to write a letter like this.

Our reactions say more about us than it does him.

I thoroughly disagree! I would kill to take a company to the point where it can flourish with someone else at the leadership.

Yeah, but the question is-- when the time came, who would you kill?

Speaking from experience: as "that point" approaches on the horizon, you'll find a lot of differing (and hotly contested) opinions about when, who, and the definition of "flourish." Your co-founder, or board, or incoming investor, may decide you're reached that point long before you have....

reading about the pedigree of the fellow they brought in -- i'd be happy to have him working to make me rich!

I respectfully disagree. If you're smart, humble and of a certain disposition, you can recognize that you started something great, and grew it to the point that it makes sense for experienced vets to take it to the next level. Some (most?) people will want to try that themselves. I don't think that's everyone, though.

I agree with you, but I don't think there's any way to write it so it sounds more than that. I feel like he at least had a go at it.

Sounds like they're doing really well though.

What's up with these types of news lately where Founders are leaving their baby before taking it to the final destination or continuing the amazing journey?

Few days ago it was RescueTime's founder, and now today it's Xobni.

I'm more interested in understanding the true psychology/thought-process of these founders leaving their companies in someone's hands when it's already on a good path. Do they get tired or bored of working on their idea? Or do they get more excited about new opportunities.

The main concern is, what about their persistence and "don't give up" attitude as an entrepreneur? When they will go for starting new business, will investors, partners and employees will trust these guys again that they will stay in that new business until it reaches to successful destination?

Just curious to know what goes in the minds of these founders when they take such decisions...

> When they will go for starting new business, will investors, partners and employees will trust these guys again that they will stay in that new business until it reaches to successful destination?

If it works out, this decision tells those folks that this founder will step aside to make them money.

Remember - no one but the founder and her mother cares whether the founder stays on board or makes money. Everyone else cares about whether they make money.

To put it another way, only two people invest to help {name} become the CEO of a successful company.

"we invest in people/team/market/idea/etc" always has an implied "to make us money" at the end. While unstated, that goal is the important part of the sentence - the stated part is just their plan for doing so.

Congrats and g'luck on the next thing, ASmith!

Thanks, Daniel!

OT PSA: Under-25 fees for car rental are negotiable. Whoever is working can choose to waive the fee. As always, being (or seeming) willing to walk out helps.

USAA membership also gets the fees waived.

Good luck in your next project! I still remember reading the old blog posts of yours, when you started working in the dorm, then boston, then san francisco and LCD screen real estate. Take care - I know you will succeed!