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This whole exchange made me think that there must have been a family or friend connection back to Sequoia. As a humble poor, if I were running the show over at
by ActionHank 3y ago
This whole exchange made me think that there must have been a family or friend connection back to Sequoia.
As a humble poor, if I were running the show over at Sequoia I would have these people out on their asses, but again, I also don't have buckets of money clouding my judgement.
- rchaud 3y agoSequoia likely made plenty of money by underwriting their in-house e-coin FTT, hyping up SBF across the media, and then dumping FTT on retail investors afterwards.
- StressedDev 3y agoDo you have any proof they did that? That is a very serious accusation to make.
- rchaud 3y agoNo proof, because absolutely nothing was audited. That's the whole point of crypto, avoiding securities regulations. Regardless, what I'm describing is exactly what an investment bank does for a legit public company. They purchase shares from the issuing company to guarantee a certain amount of capital for the company, and then sell it on the secondary market, which in most cases would be to other invstment groups or directly on the NYSE. The difference is that those companies issue S-1s disclosing their performance and numbers, allowing secondary market investors to make an informed buying decision. https://corporatefinanceinstitute.com/resources/career-map/sell-side/capital-markets/underwriting-overview/ https://corporatefinanceinstitute.com/resources/career-map/s...