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Big Banks and Wall St. are glad you think like that.

• zubairq 8y ago
  I wasn't talking about big banks or wall street. I was talking about startups who take investors money, and often totally mismanage their companies. They usually don't do it to cheat investors, they are just over optimistic, and not experienced enough. What I guess you are referring to is when big banks and wall street deliberately cheat and take investors money. And I think that should require people going to jail.
  • pnongrata 8y ago
    Optimistic and/or naive people are not exempt from being held accountable. Regarding this particular case, Karpeles was handling lots of money and clearly 'cooked the books' for his own advantage. We know that. Also, from my own personal experience, startup culture is full of lies and deceit, and investors are not always big money firms looking to land its next unicorn exit. Regular people also invest in many startups. There can't be special rules is all I'm saying. We need to improve 'startup culture' and one of the ways of doing that is by holding people accountable.
    • zubairq 8y ago
      I agree with most of this, especially about the deceit and lies, even with a lot of the fast growing startups like Facebook and Google. There are also a huge number of honest startups, but we don't hear much in the news about them as they just keep going along making a couple of million dollars a year for their founders. It is hard to hold people accountable as the legal system doesn't support this, even here in Europe. I don't know how to improve startup culture myself, except maybe to act with integrity in my own work, and to make sure that I do my homework better when I evaluate a startup And yes, regular people generally get wiped out when they invest in startups, it happened to me a few times in the past too, but I wanted Unicorn exits too the same as the VC firms :)