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While hindsight is 20/20, most of their stuff he is talking about was visible to see , it is just that because VCs were putting money we all thought they must h
by manquer 7y ago
While hindsight is 20/20, most of their stuff he is talking about was visible to see , it is just that because VCs were putting money we all thought they must have done due diligence better than us armchair commentators, same with Wework .
Ultimately until shit hits the fan, everyone would naturally trust the guy backing his belief with cash better than anyone else‘s analysis.
If there was market to short startups perhaps it could be different
- dekhn 7y agoThe VC I worked with at the time definitely did their due diligence, but it wasn't easy. When Theranos visited their office, they refused to sign an NDA, which immediately made the VCs suspicious. So they sent an employee to Walgreens to get the THeranos test and noticed that it included a full blood draw (when it should have just been the "nanotainer" or whatever). At that point they believed that Theranos was using their competitor's machines to implement the tests beause their tech didn't work yet.
- manquer 7y agoThe ones you worked for defn didn’t put money , I am not sure the ones who did put money did any due diligence, if they did and knowingly put money they are no different from homes they were trying scam the next bigger guy then