As more startups turn into large, complex firms, many are looking to hire a finance chief who can impose financial discipline and bring a new level of managerial expertise. A successful candidate must have experience dealing with investors and lenders, taking companies public, knowledge of tech-specific regulations and accounting practices, and the tolerance to work punishing hours for a fast-growing, cash-burning enterprise.
-- Kristin Broughton and Ezequiel Minaya, WSJ
A good CFO is something I look for when I am evaluating potential investments (see Why I bought Twitter today) and it is definitely a small club. There's still risk with a good CFO, though, because financial discipline can (and often does) clash with growth-focused founders. Snap just promoted an insider to CFO and that's a red flag, to me. I don't want to see someone in the CFO position just because they get along with the founder (not saying that's the case here, but I'm suspicious).