Ben Horowitz had terrific presence of mind when hiring a new CFO, one that was highly revered and recommended. He insisted on parameters on her actions and followed his company principles illustrated by his speech to the staff:
“In this business, we may run into trouble. We may miss a quarter. We may even go bankrupt, but we will not go to jail. So if somebody asks you to do something that you think might put you in jail, call me.”
Read this amazing story on how he managed his company and staff to “Dodge a bullet”.