More VCs now sit on the boards of startups going head-to-head, and the Factory vs. Cognition fight just showed how messy that can get. On a TWIST VC round table, guest host Deedy Das of Menlo Ventures, a Factory investor, is joined by Kanu Gulati of Khosla Ventures, which backs both companies, Chris Farmer of SignalFire, and Sheel Mohnot of Better Tomorrow Ventures. Kanu explains how her firm walls off partners on rival deals, Chris argues overlap is inevitable as startups pivot, and Sheel…