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>As I get older, I do not understand how known scammers, especially the ones that raise millions over and over, get support time and time again. Con artists ar
by ramesh31 5y ago
>As I get older, I do not understand how known scammers, especially the ones that raise millions over and over, get support time and time again.
Con artists are good at what they do. People are a thousand times easier to hack than a database server. And there's no security patches for human emotion; we are full of 10,000 year old zero days.
- tluyben2 5y agoAgreed, but if you are a VC you do basic DD right? And if there is a reddit group calling your new star CEO a scammer, you might check a bit? But yes, full agree.
- bombcar 5y agoI suspect that many VCs don’t do due diligence beyond “someone we trust is already in” and others assume they can get out before it collapses.
- ramesh31 5y agoIt's also a calculated risk. Every ICO in existence has its' detractors. But with so much free funny money floating around, the calculation is heavily outweighed towards FOMO.
- rchaud 5y agoThe basic DD that a crypto VC does is to figure out just how big the market for suckers is at this point in time.