Just read a great post by Jeff Bussgang (Flybridge general partner). Full title is “Why Venture Capitalists Invest in Pigs, Not Chickens“. The point about young companies with under 40 employees not needing a COO is pretty powerful. CEO needs to be “all in” and all over the company. Mark Suster just wrote about this exact topic as well; his post is titled “Why Your Startup Does Not Need a COO“. There are obviously exceptions to everything.