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I think it's pretty well established at this point that many VCs are gullible herd animals swayed by people who are good at sales and check the right boxes. SB
by mdorazio 4y ago
I think it's pretty well established at this point that many VCs are gullible herd animals swayed by people who are good at sales and check the right boxes. SBF is just the latest in a long line with recent notables Elizabeth Holmes and Adam Neumann (who is still getting more funding somehow).
- balsam 4y agoDavid Gerard’s take on the “SV smart boys” is worth a reread from time to time, till the OpenSeas evaporate and the BlackRocks laid bare. He blames the Berkeley-based EA (Effective Altruism) community too (which inspired SBF). https://davidgerard.co.uk/blockchain/2022/09/16/vitalik-buterins-philosophical-essays-theyre-not-good/ https://davidgerard.co.uk/blockchain/2022/09/16/vitalik-bute...
- ilrwbwrkhv 4y agoThis is excellent read. Thanks for sharing.
- nowherebeen 4y agoAll VC investments look like genius moves during a bull market - someone on Twitter
- balsam 4y agoI would make an exception for biotech VCs— these guys tend to have domain expertise (another indictment DG makes of the nonbio tech VC scene)
- deleted 4y ago[deleted]
- jasmer 4y agoThe thing is here 'everyone was a believer'. This was not a 'deception' in the classical sense. Other than mass self-deception. This is what happens when there's nobody around to question anything. EA + FTX is essentially a cult, it reads exactly like 1960's California stuff.