@spolsky Why are you so invested in this? If a CEO has nothing good to say, he needs to say nothing. That's his fiduciary responsibility and I'm sure the board has the same opinion.
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USV is an investor in StackOverflow and Tumblr.
StackOverflow really doesn't benefit that much if Tumblr turns into a 1Bn company (which it probably will eventually)
If Tumblr makes USV huge returns, they can raise a new fund (not like they would struggle right now..) but most funds require "new investments" so why would Spolsky profit other than being a nice guy?
That explains a lot