This is well known in cybersecurity circles. I mentioned here[1] a couple years back that I know CISOs who've had to clean up big messes because their predecessor was on the Cyberstarts payroll, but on the bright side I also know a couple of those predecessors who were fired for it.
Cyberstarts is the most blatant offender, but to be fair, VC has turned into the next rung on the career ladder for CIOs/CISOs, whose role is otherwise generally terminal (unlike e.g. COO or CMO). So a lot of deals get done now just on giving CISOs a path into VC. It's more subtle than Gili's way, and just as effective.
About 20 years ago I quite liked the idea of becoming a CISO - the CIO I worked for at the time talked me out of it - saying that the role would largely involve being ignored then, when something inevitably did go wrong, you'd get sacked.
The board of a Fortune 1000 financial services company just fired the CISO and Deputy CISO because they did too good a job cataloging all of the risk in their infrastructure. Now that it's documented and defensibly quantified, the company is somewhat obliged to do something about it, and the board was not thrilled.
Cyberstarts is the most blatant offender, but to be fair, VC has turned into the next rung on the career ladder for CIOs/CISOs, whose role is otherwise generally terminal (unlike e.g. COO or CMO). So a lot of deals get done now just on giving CISOs a path into VC. It's more subtle than Gili's way, and just as effective.
1. https://news.ycombinator.com/item?id=40487846