To get the money from VCs, one has to sell them on the notion that the company will to scale until it can swallow the moon. Suppose I take their money and say, "Sorry, now I want to reduce risk! Too bad, suckers!" I'd say that makes me an asshole.
If you've taken a small amount of their money, then maybe they can't legally force you to take more risk than you think is wise. (They can, however, make sure you're unlikely to get money from anybody else, either now or in the future.) But if you've taken a B round or more, then a founder probably doesn't have control.
If you've taken a small amount of their money, then maybe they can't legally force you to take more risk than you think is wise. (They can, however, make sure you're unlikely to get money from anybody else, either now or in the future.) But if you've taken a B round or more, then a founder probably doesn't have control.