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The "that's it" is the problem here. The lack of due diligence on YC's part caused a PR disaster and ideally that's something they would want to avoid.
by minimaxir 2y ago
The "that's it" is the problem here. The lack of due diligence on YC's part caused a PR disaster and ideally that's something they would want to avoid.
- portaouflop 2y agoPR disaster is a bit of an exaggeration, outside of a fraction of HN no one cares or has noticed.
- Foobar8568 2y agoTrue, dream world has been already forgotten.
- ahoka 2y agoHN’s reason to exist is to give good PR for YC.
- FreakLegion 2y agoYC's way of operating is globally optimal. The cost (in money and time) of adequately vetting every company they've ever invested in would dwarf the cost of this little brouhaha. Even in later rounds due diligence skews non-technical. E.g. for Series A it mostly takes the form of "What licenses do your OSS dependencies use?", and (for B2B SaaS) "We want to talk to a half-dozen of your customers, preferably of different sizes and from different industries, and ideally one that's renewed".