Zenefits Director Faced Accounting Issues at Previous Firm

When Zenefits disclosed that its brokers had illegally sold insurance without a proper license, the San Francisco startup, valued at $4.5 billion, made clear who was at fault: founder and CEO Parker Conrad. Not only did Conrad resign, but a person close to the matter insisted that Lars Dalgaard, a general partner at Andreessen Horowitz and a director at Zenefits, had repeatedly and unsuccessfully tried to counsel Conrad. For example, Dalgaard told Conrad that Zenefits needed a larger board and that the company should slow down its hiring.

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