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      "text": "5 Although some startups have more than one core founder, a clear majority have a single one (Wasserman 2012). Below, I will describe how I empirically identified the core founder.",
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      "text": "increase, reducing the value of the startup (e.g., Jensen and Meckling 1976; Fama and Jensen 1983). I propose a complementary resource-dependence effect that may counterbalance the increase in agency costs as founders give up control...",
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      "text": "Within high-potential startups, high rates of growth necessitate the attraction of a very high percentage of outside resources (Venkataraman 1997), and the most valuable of those resources are usually in limited supply (Peteraf 1993)...",
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      "text": "At inception, a startup might be missing resources in three major areas: human capital, social capital, and financial capital (Sapienza, Korsgaard et al. 2003). To fill those holes, \"core founders\" can attract cofounders, hires, and/or investors...",
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      "text": "When are founders more likely to surrender control?",
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