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1) open browser and go to https://icis.corp.delaware.gov/Ecorp/EntitySearch/NameSearch.aspx https://icis.corp.delaware.gov/Ecorp/EntitySearch/NameSearch... 2)

1) open browser and go to https://icis.corp.delaware.gov/Ecorp/EntitySearch/NameSearch.aspx https://icis.corp.delaware.gov/Ecorp/EntitySearch/NameSearch... 2) do a fact check. I don't see how this is can get expensive. Don't they have interns delivering coffee and running errands and other bullshit in the media/entertainment industry? Why not have them do more valuable and relevant tasks such as quick sanity check before the pitch?

chias 10y ago
Visiting the link you post would indeed have uncovered this particular problem in just a few moments, but doing due diligence means a whole load of other checks as well. It is very cheap to verify that a problem exists if you already know what the problem is. I'm not suggesting that a quick sanity check before the pitch is a bad idea. For all I know they may do quick sanity checks before the pitch, but a quick sanity check is by definition incomplete. It isn't fair to say after-the-fact that a particular sanity check should have been included because that's where a failure was eventually found. To be clear, they are a well-funded TV show and personally I think they should bother with due diligence on pitches before the show. But I don't run it, and I guess they don't seem to agree.
- brilliantcode 10y ago
  Simple fact checking whatever the entrepreneur is pitching doesn't take a lot of resources for the most part. I think we have a different picture of "background check". I'm saying assume whatever numbers are thrown as bullshit until proven otherwise. That's just due diligence and common sense, it's hard to fathom it being an expensive and time consuming task unless you involve accountants and lawyers provided there's a audit trail available. That costs money and every year thousands of eager accounting/finance graduates are willing to work 60 hours a week at a depressed market rate due to the abundance of supply.

chias 10y ago

Visiting the link you post would indeed have uncovered this particular problem in just a few moments, but doing due diligence means a whole load of other checks as well. It is very cheap to verify that a problem exists if you already know what the problem is. I'm not suggesting that a quick sanity check before the pitch is a bad idea. For all I know they may do quick sanity checks before the pitch, but a quick sanity check is by definition incomplete. It isn't fair to say after-the-fact that a particular sanity check should have been included because that's where a failure was eventually found. To be clear, they are a well-funded TV show and personally I think they should bother with due diligence on pitches before the show. But I don't run it, and I guess they don't seem to agree.

brilliantcode 10y ago
Simple fact checking whatever the entrepreneur is pitching doesn't take a lot of resources for the most part. I think we have a different picture of "background check". I'm saying assume whatever numbers are thrown as bullshit until proven otherwise. That's just due diligence and common sense, it's hard to fathom it being an expensive and time consuming task unless you involve accountants and lawyers provided there's a audit trail available. That costs money and every year thousands of eager accounting/finance graduates are willing to work 60 hours a week at a depressed market rate due to the abundance of supply.