This document discusses governance for startups. It outlines why boards are important for startups, how to build an effective board, and how to manage a board. Some key points include: - Boards provide strategic guidance, mentorship, and network connections for founders and CEOs. - In early stages, boards typically include founders, VCs, and independent experts. Composition changes as the company grows. - When building a board, define needed expertise and find candidates who share the company's vision. - Managing boards well includes setting clear agendas, facilitating discussions, and following up on decisions. - Board meetings should focus on strategic issues, not just provide updates, and last no more than 2