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After high-profile startup failures, investors, employees, customers, and policymakers all ask what could have been done differently to ensure accountability. It is in the interests of the startup founders to accept transparency and accountability. Some misguided ideas that have become popular within startup are that it is in a founder's interest to accept as little oversight as possible. The accountability that comes from raising outside financing should be embraced by the founders. It will strengthen their company.

There is a lot of handwringing and navel-gazing going on in startup land with the denouement of two of the biggest scandals in the industry.