# Better.com founder and investor clash over control

> Better.com founder Vishal Garg and investor Daniel Lewis fight for control of the $230m company after their friendship turned hostile
- Title: Better.com founder and investor clash over control · Fortune
- Summary: Better.com founder Vishal Garg and investor Daniel Lewis fight for control of the $230m company after their friendship turned hostile Garg and Lewis had a…
- Keywords: better.com, vishal garg, daniel lewis, interim ceo, shareholder vote, proxy fight, tinman ai, seattle, nfl, activant capital, framework ventures, softbank capital partners
- Source: Fortune — https://fortune.com/2026/09/19/better-ceo-founder-fight-control-ouster
- Author: Amanda Gerut
- Read time: 2 min
- Topics: better.com, vishal garg, daniel lewis, interim ceo, shareholder vote, proxy fight, tinman ai, seattle, nfl, activant capital, framework ventures, softbank capital partners
## BFFs to boardroom rivals
Vishal Garg and Daniel Lewis, Better.com's founder and investor, started as close friends but became rivals after Lewis replaced Garg as CEO

> You are the last person I am texting tonight, you are on my mind
## CEO ousting sparks conflict
Garg was removed as CEO on August 3 after Lewis joined the board and took over interim leadership
## Texts reveal falling friendship
Over 2,000 texts exchanged between Garg and Lewis over 13 months show their relationship deteriorated from friendship to hostility

> My family is asking me about my health insurance. Would you please advise me on that. Thank you
## Divergent leadership visions
Garg wants to focus on product innovation while Lewis aims for sustainable profitability through cultural change
## Financial fallout
Better.com reported over $1.5 billion in net losses since 2022 with stock price dropping 37% after Garg's ouster
## Board battle intensifies
Garg is seeking to remove five directors including Lewis and board chairman Talwar from Better.com's board
## Proxy fight deadline
Shareholders must decide by October 20 whether to support Garg's board changes or Lewis's interim leadership
## Investor opinions split
Proxy advisory firms ISS and Glass Lewis recommend supporting Better's current board while Egan-Jones supports Garg's group
## Garg's leadership critique
Garg claims Lewis falsely told the board he supported rescinding equity grants and removing half the board

> I think that is how he eventually turned the board and these four members of the board against me
## Lewis's leadership critique
Lewis says Garg created a toxic culture with threats and public humiliation of employees

> Late-night texts, swearing campaigns, saying that he was going to disembowel people publicly
## Financial history
Better.com reported net losses of $301 million in 2023 and $165.9 million in 2.025 with revenue rising from $72.3 million to $164.9 million
## Shared history
Garg and Lewis both have deep roots in finance with Garg starting his own student loan company and Lewis running a hedge fund
## Friendship's end
Garg called Lewis a 'boy scout' after Better published a statement calling his leadership destructive

> Sacre bleu Daniel, I think the French air is getting to you
## Board changes
Garg is proposing a new board with three directors including Activant Capital's Steve Sarracino
## Investor support
Activant Capital, Framework Ventures, and SoftBank Capital Partners are key shareholders in the proxy fight
## Future of Better.com
Lewis plans to focus on wholesale lending and home equity lines of credit while Garg wants to prioritize product innovation
## Key takeaway

Garg and Lewis had a close relationship but now compete for Better.com's leadership after Lewis ousted Garg as CEO