"Founder friendly" era in Silicon Valley is creating stars

A crowd of people at a Google conference
Attendees look on at Google's I/O developer conference. Photo: Justin Sullivan/Getty Images

"Silicon Valley financiers are losing leverage to star entrepreneurs ... Founders of highflying startups are increasingly wresting control of their companies from venture-capital backers and extracting huge pay packages tied to going public," The Wall Street Journal's Rolfe Winkler and Maureen Farrell write (subscription).

Why it matters: "VCs say empowering founders — through special voting shares, governance rights and other tools — frees them to follow ambitious long-term strategies once their companies go public without having to worry that poor performance will bring pressure from activist investors."