2 ms·

I really liked this article but think it should have mentioned "round tipping" which is the favorite type of fraud from tech companies. YCombinator is an exampl

I really liked this article but think it should have mentioned "round tipping" which is the favorite type of fraud from tech companies. YCombinator is an example of this and it's why most of their companies can fail spectacularly. It's where you have companies selling "an unused asset to another company, while at the same time agreeing to buy back the same or similar assets at about the same price." https://en.m.wikipedia.org/wiki/Round-tripping_(finance) https://en.m.wikipedia.org/wiki/Round-tripping_(finance)

shove 1y ago
The article is about incompetence. Incompetence while doing a fraud gets you sent to prison.
- burnt-resistor 1y ago
  s/gets you/gets mere morals, but not those who bought or are corrupt politicians/ With less corruption, the shorter form would be almost universally true. Corruption exists on a continuum and some countries are currently experiencing crisis levels of it.