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Startups may be famous for not punishing failure, but I think this is such an exceptional case that I don't see the same rules applying here. I would not trust
by swohns 14y ago
Startups may be famous for not punishing failure, but I think this is such an exceptional case that I don't see the same rules applying here. I would not trust someone who squandered this much wealth, and certainly would not trust them if any of these allegations are even remotely true.
- hkmurakami 14y agoI think there are two failures here: (1) business failure, and (2) moral failure. Sometimes (1) is just out of our control, but (2) is fully within our control. To me, moral failure is a bigger red flag in giving me signals about the individual.
- rhizome 14y agoCapital is amoral.
- hkmurakami 14y agoBut leaders shouldn't be amoral.
- 001sky 14y agoAgreed. This applies to the CEO and the Board, where relevant. LPs and public investors can vote with their feet, but people actually with their hands on the controls need to act responsibly.
- wisty 14y agoYes, but capitalists don't like trusting amoral people with their money.
- rhizome 14y agoHow do you know? Besides, it's capital, not capitalists, that is amoral. Some capitalists may not participate in certain ways the same way a religion might have dietary restrictions or taboos, but capital itself doesn't care.