2 ms·
That is surprisingly bad. I would expect it to be some sigma level of accuracy for the money they charge. Perhaps I misunderstand the problem.
by sgc 4y ago
That is surprisingly bad. I would expect it to be some sigma level of accuracy for the money they charge. Perhaps I misunderstand the problem.
- kkielhofner 4y agoThis was over 10 years ago. Not only is my memory fuzzy I would imagine (hope) it's gotten significantly better since then. Per usual for these kinds of things what you're really paying for is the name and "trust" associated with it. In the grand scheme of things when you're raising tens of millions - billions of dollars the cost of these tools in terms of total services across due diligence is nothing. Additionally, tools like this are selected by the investor and you don't really have much say in the matter. Basically, you use "expensive" $SOLUTION the investor prefers, check the box, and move on to the hundreds/thousands of other due diligence items in the transaction. Where it gets really interesting (to me) are cases with super aggressive investors like Tiger Global and anything in bubble (crypto) where close times are days and almost no due diligence is performed. As one example I doubt anyone used these kinds of tools at FTX...