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Whenever you hear of a VC's "due diligence", remember this.
by davidgerard 4y ago
Whenever you hear of a VC's "due diligence", remember this.
- stephc_int13 4y agoClearly, I suspected it from the few interactions I had with VCs. Well...
- jstx1 4y agoAnd Theranos.
- mkhpalm 4y agoI keep telling people you don't drop hundreds of millions on something without glancing at a few numbers first. They had to know something wasn't quite right but infused him with their cash anyways.
- hackandtrip 4y agoApparently when another VC firm (Social Capital) suggested to create a board before going through with their investment, they received a plain&clear "f*k you". Corporate governance, accounting, and all the other boring stuff should literally be the first things which you should look at when assessing whether to fuel or not an exchange.
- davidgerard 4y agothe number they looked at was "number go up". This was an "investment" for the purpose of surfing a ponzi wave. They could not possibly have looked at any numbers any deeper than what FTX told them.