The Founder's Dilemma (2008)

The HBR article was written in 2008. It seems like more investors are wanting (or more like finally allowing or being forced by the market) founders to remain in control. YC started out as an experiment that founders, even young ones, were good bets on creating a lot of value.

Ben Horowitz wrote a blog post in 2010 about their preference for founder CEOs.

http://www.bhorowitz.com/why_we_prefer_founding_ceos

I personally think there is no dilemma here. Founders create concepts but when it comes to the nitty gritty of managing day to day operations, they may not be a great fit. It is not like the the founder is losing the equity just because there is a management team.