A Software as a Voting Member of the Board?
Do you think that a software being a voting member of the board of director is science fiction then think again!
It has actually happened!
VITAL (Validating Investment Tool for Advancing Life Sciences), which is a software, has been appointed as a voting member by Deep Knowledge Ventures (DKV), a Hong Kong based venture capital fund.
This is what Dmitry Kaminskiy, senior partner at Deep Knowledge’s tells Beatbeat…
“…On the meetings investors will firstly discuss the analytical reviews made by VITAL. All the decisions on investing will be made strictly after VITAL provides it’s data. We say that VITAL has been acknowledged as an equal member of the board of directors, because it’s opinion (actually, the analysis) will be considered as probably the most important one. So basically yes, it will be incorporated into meetings…”
Let me repeat what I had said in an earlier post … I get a conflicting feeling of “oh! that is great!” and “hmm… who is going to be the next victim of this model?”.
If you want more details you can read the related articles given below.