He reluctantly agrees. While you've been impressed with Trueblue's dedication and unfailing energy, you are increasingly of the opinion that Trueblue needs to step down as quickly as possible assuming Dave is good candidate for succession. With Trueblue's concurrence, you schedule an appointment with Dave. Need for corporate deal Transition plan Dave, it's clear from your discussion with Chris that he is not in the know regarding the failed AIDS diagnostics technology. Chris, Dave brings you into his confidence.
Angel investors expect bad news.
The bad news is manageable, but not if I don't know what it is, and especially if it appears that Trueblue or his management team is hiding something. Investment bankers don't invest in technology, we invest in people. Once deal is tainted, it's almost impossible to resuscitate. First impressions carry on for years. In all likelihood, the relationship with the investor is more long lived than company.