This has a lot to do with trust issues and keeping your real feelings behind the bushes.
Very frequently, in my experience, first-time entrepreneurs will assume a bunker mentality. Due to inexperience, misplaced loyalties, personality quirks, or any of a number of reasons, a first-time entrepreneur may do exactly the wrong things. Instead of discussing the circumstances, he hides them. Instead of preparing the Board and investors of likely unpleasant future events, he plays “ostrich” and hopes they go away.
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