7 ms·
I don't think "most startups" happen to lose billions of their customers money. You can be a super-stealth-ninja-startup, when you're handling dollar sums with
by Barrin92 4y ago
I don't think "most startups" happen to lose billions of their customers money. You can be a super-stealth-ninja-startup, when you're handling dollar sums with nine zeroes you better do things in a more orderly way than "via chats".
I worked at two small companies in the financial sector and both had compliance and legal assistance, nobody would even wire a hundred bucks anywhere without knowing where it went.
- danielmarkbruce 4y agoThen they were wild outliers. Money gets wired and lost by practically all financial institutions with some frequency. It usually gets tracked down eventually... but it's way messier than it seems.
- orhmeh09 4y agoHow do you know this and why should we believe you?
- danielmarkbruce 4y agoAnyone who worked in finance knows, but it's also reported reasonably frequently. Great case: https://www.cnn.com/2021/02/16/business/citibank-revlon-lawsuit-ruling https://www.cnn.com/2021/02/16/business/citibank-revlon-laws...