7 ms·
I'd be wary about spending any proceeds from any A16Z crypto funds if I were an LP.. Given all the renewed focus and enforcement, I suspect there will be clawba
by mikeyouse 4y ago
I'd be wary about spending any proceeds from any A16Z crypto funds if I were an LP.. Given all the renewed focus and enforcement, I suspect there will be clawbacks from the obviously fraudulent pump-and-dump schemes they supported. I'm pretty amazed at the gall of Dixon as well, he is/was just aggressively rude to anyone who questioned the utility of any of those companies or coins.
- jacquesm 4y agoBut those LPs in turn will have an excellent case against the fund managers. The 'L' stands for limited, once they have committed their capital to the fund they can't do anything about what the fund does with it, they might register their protest but they'll have to pony up regardless and if they get paid out they might not have sufficient perspective on which $ came out of which investment (this varies from fund to fund, some are very transparent, others less so and funds that re-invest or evergreen funds can be even more complicated). LPs also don't necessarily live in the same jurisdiction as the fund managers or the legal home of the fund.