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Who thought that giving a bunch of 20 year olds with no experience, and most importantly _no_ oversight hundreds of millions of dollars was going to end differe
by woeirua 4y ago
Who thought that giving a bunch of 20 year olds with no experience, and most importantly _no_ oversight hundreds of millions of dollars was going to end differently? Everyone involved with this deal at Sequoia capital should be fired. Did they do _any_ due diligence?
- 0goel0 4y ago
- papito 4y agoMaybe we should stop lionizing VCs as some sort of investment prodigies. All it is is some people already with money gambling on a large scale and occasionally winning - mostly because there is a bigger sucker somewhere downstream that buys into the promise of future mega-profits. They are no different than some 20-year-old being all aflutter at the guy who just pulled up in a lambo and whispered "crypto & nfteee". And, by the way, if you've already proven that you can break some hearts by doing borderline fraudulent stuff and conning people out of billions, that goes in your favor. https://nymag.com/intelligencer/2022/08/why-is-anyone-still-betting-on-adam-neumann.html https://nymag.com/intelligencer/2022/08/why-is-anyone-still-...
- nradov 4y agoVC fund general partners are usually not employees that can be "fired" in the traditional sense. However, they can be forced out in certain circumstances and the limited partners are probably asking some hard questions about fraud and cancelling future capital commitments.
- Macha 4y agoBrian Cantrill recently did a talk on this exact motive: https://redmonk.com/videos/coming-of-age-bryan-cantrill-monktoberfest-2022/ https://redmonk.com/videos/coming-of-age-bryan-cantrill-monk...