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So-called smart money strikes again. Thernaos, Nikola, WeWork and now FTX (I'm sure I'm missing many and there are some other less obvious ones like Carvana an
by textech 4y ago
So-called smart money strikes again. Thernaos, Nikola, WeWork and now FTX (I'm sure I'm missing many and there are some other less obvious ones like Carvana and Opendoor). Billions and billions of dollars were funneled into these obvious scams all while being cheered on by celebrity hedge funders (likes of Cramer, Mr. Clown...etc.) and yet there are zero consequences for anyone involved.
- _2d30 4y agoTheranos and Nikola were all dumb money. WeWork is a real business. Over inflated initially but it's still alive and delivers a good product. FTX was smart money and a huge scam. Definitely a major indictment of the VC industry and major tech capital allocators over the last 2-3yrs.
- mikeg8 4y agoHolmes Will probably be in jail shortly, Milton was convicted of fraud last month and should be sentenced soon, SBF fallout is too new. There will be some consequences although maybe not equal to the fraud. Frauds looks so obvious in hind sight but not so in the moments.