Founder-led companies are holding their ground way better than before. You're seeing fewer forced exits, fewer IPOs pushed by board pressure, and definitely fewer situations where founders get sidelined for "professional management." The whole game has shifted in founders' favor lately. Back in the Uber era, a capable founder could still get muscled out by the board. But that playbook? It wouldn't fly in today's market. Investors and boards know better now—talent and vision matter too much to risk losing them over governance theater.