3 ms·

>I don’t see how you respect Sequoia’s judgement after this. Me neither, sounds like that's the reckoning.

kjellsbells 4y ago
Helpfully, sequoia list who they are investing in, e.g. https://www.sequoiacap.com/our-companies/?_categories=fintech https://www.sequoiacap.com/our-companies/?_categories=fintec... or https://www.sequoiacap.com/our-companies/?_categories=crypto https://www.sequoiacap.com/our-companies/?_categories=crypto And of course you should all enjoy this while you can: https://www.sequoiacap.com/companies/ftx/ https://www.sequoiacap.com/companies/ftx/
- nradov 4y ago
  It's hilarious how they describe the problem at FTX as a "liquidity crunch”. Liquidity was the least of their issues. What a bunch of clowns.
  - eternalban 4y ago
    Not fair. They ran a "rigorous diligence process" at the time of their investment. https://pbs.twimg.com/media/FhKq6zQUoAIUJ1W https://pbs.twimg.com/media/FhKq6zQUoAIUJ1W These two sources claim Ramnik Arora played a "crucial role": https://diyatvusa.com/2022/11/24/meet-ftx-insider-ramnik-arora/ https://diyatvusa.com/2022/11/24/meet-ftx-insider-ramnik-aro... https://podcasts.apple.com/us/podcast/who-is-ramnik-arora-the-fixer-behind-sam-bankman/id808014240?i=1000587357734 https://podcasts.apple.com/us/podcast/who-is-ramnik-arora-th... There is that Moonstone Bank thingie again: Ramnik was there too: https://www.crunchbase.com/person/ramnik-arora https://www.crunchbase.com/person/ramnik-arora https://www.crunchbase.com/organization/moonstone-bank https://www.crunchbase.com/organization/moonstone-bank Fluent Finance & Moonstone Bank issue "US+ Stable Coin": https://www.globenewswire.com/en/news-release/2022/10/24/2540281/0/en/Fluent-Finance-and-Moonstone-Bank-Accelerate-Crypto-Adoption-by-Issuing-US-Stablecoin.html https://www.globenewswire.com/en/news-release/2022/10/24/254... "Fluent Federation of Member Banks": https://www.fluent.finance/ https://www.fluent.finance/ https://www.fluent.finance/team https://www.fluent.finance/team [includes the "inventor of CBDC" ..] There are so many rabbit holes here. FTX is the tip of something bigger imo.

Helpfully, sequoia list who they are investing in, e.g. https://www.sequoiacap.com/our-companies/?_categories=fintech https://www.sequoiacap.com/our-companies/?_categories=fintec... or https://www.sequoiacap.com/our-companies/?_categories=crypto https://www.sequoiacap.com/our-companies/?_categories=crypto And of course you should all enjoy this while you can: https://www.sequoiacap.com/companies/ftx/ https://www.sequoiacap.com/companies/ftx/

nradov 4y ago
It's hilarious how they describe the problem at FTX as a "liquidity crunch”. Liquidity was the least of their issues. What a bunch of clowns.
- eternalban 4y ago
  Not fair. They ran a "rigorous diligence process" at the time of their investment. https://pbs.twimg.com/media/FhKq6zQUoAIUJ1W https://pbs.twimg.com/media/FhKq6zQUoAIUJ1W These two sources claim Ramnik Arora played a "crucial role": https://diyatvusa.com/2022/11/24/meet-ftx-insider-ramnik-arora/ https://diyatvusa.com/2022/11/24/meet-ftx-insider-ramnik-aro... https://podcasts.apple.com/us/podcast/who-is-ramnik-arora-the-fixer-behind-sam-bankman/id808014240?i=1000587357734 https://podcasts.apple.com/us/podcast/who-is-ramnik-arora-th... There is that Moonstone Bank thingie again: Ramnik was there too: https://www.crunchbase.com/person/ramnik-arora https://www.crunchbase.com/person/ramnik-arora https://www.crunchbase.com/organization/moonstone-bank https://www.crunchbase.com/organization/moonstone-bank Fluent Finance & Moonstone Bank issue "US+ Stable Coin": https://www.globenewswire.com/en/news-release/2022/10/24/2540281/0/en/Fluent-Finance-and-Moonstone-Bank-Accelerate-Crypto-Adoption-by-Issuing-US-Stablecoin.html https://www.globenewswire.com/en/news-release/2022/10/24/254... "Fluent Federation of Member Banks": https://www.fluent.finance/ https://www.fluent.finance/ https://www.fluent.finance/team https://www.fluent.finance/team [includes the "inventor of CBDC" ..] There are so many rabbit holes here. FTX is the tip of something bigger imo.