Can a $310M startup avoid due diligence?

Re:Can a $310M startup avoid due diligence? by thr0wawayf00 on Monday February 07, 2022 @02:14PM (#30249582)

I look at how the ultra-wealthy are lionized in the US and genuinely wonder sometimes. It's amazing what we'll let those people get away with because we too want to join the exclusive club of high net worth individuals.

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Re:Can a $310M startup avoid due diligence? by pyuser583 on Monday February 07, 2022 @09:35PM (#30254311)

I mean here we are on a message board that is the vanity project of an investment firm catering to highly skilled technicians.

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Re:Can a $310M startup avoid due diligence? by worik on Monday February 07, 2022 @02:25PM (#30249712)

> I look at how the ultra-wealthy are lionized in the US and...

I look at the ultra-wealthy make a diagnosis of obsessive compulsive disorder

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Re:Can a $310M startup avoid due diligence? by brimble on Monday February 07, 2022 @03:03PM (#30250212)

I sometimes wonder how much the fact that I'd stop trying to make more money at like $25m savings—and maybe sooner—is a factor in my not having that much money in the first place. Like I'm not saying that's all or even most of the reason, but I do wonder if the running-up-the-score attitude is itself valuable for making any decent amount of money in the first place.

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Re:Can a $310M startup avoid due diligence? by qnsi on Monday February 07, 2022 @03:39PM (#30250734)

what do u need 25mil for? Seems arbitrary. With 7.5m u can have 300k/y income from stock invested without lowering your net worth. Seems more than enough for anyone

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Re:Can a $310M startup avoid due diligence? by brimble on Monday February 07, 2022 @04:00PM (#30251058)

Yeah that's why I threw in "maybe sooner". $25m is a bit arbitrary but is also somewhere around the point at which I'd have to start trying to waste money before I'd risk touching principal. That's "never think about money again, even a little" territory, for me (but then I don't want a yacht or any of that), so at the top end of the range in which I could see myself deciding never to work again.

Also, $7.5m is still low enough to be threatened by healthcare costs and end-of-life care and such (x2 for a couple, plus if a kid gets very sick before they're out, or even after but you don't want them to be ruined by it, et c). Not enough to wipe it out, probably, but enough to diminish it substantially if you get a bad roll of the dice. I wouldn't even need that much to stop having any motivation to try to make more, if I lived somewhere with decent universal healthcare where having your savings eaten by the healthcare/hospice-care industry is practically unheard of.

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Re:Can a $310M startup avoid due diligence? by missedthecue on Monday February 07, 2022 @03:32PM (#30250629)

Interestingly, when I look at the top 5 richest people on the planet, I don't think any are optimizing for wealth.

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Re:Can a $310M startup avoid due diligence? by forbiddenvoid on Monday February 07, 2022 @04:32PM (#30251528)

They are not optimizing for wealth... anymore. It's easy to shift your priorities once you are overwhelmed with a resource you could not possibly use all of.

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Re:Can a $310M startup avoid due diligence? by missedthecue on Monday February 07, 2022 @05:06PM (#30252009)

I think I would describe Jeff Bezos and Elon Musk etc... as optimizing for making their companies succeed in the end, not optimizing for wealth.

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Re:Can a $310M startup avoid due diligence? by missedthecue on Monday February 07, 2022 @03:33PM (#30250655)

If you did intelligence tests on 1000 American centi-millionaires and 1000 randomly selected Americans, do you think the difference in scores would be undetectable?

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Re:Can a $310M startup avoid due diligence? by thr0wawayf00 on Monday February 07, 2022 @04:48PM (#30251781)

Yes, because a tremendous amount of wealth is inherited. The idea that the vast majority of wealthy Americans are self-made is a myth.

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Re:Can a $310M startup avoid due diligence? by missedthecue on Monday February 07, 2022 @05:04PM (#30251991)

80% of US millionaires are first generation.

https://www.washingtonpost.com/wp-srv/style/longterm/books/c....

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Re:Can a $310M startup avoid due diligence? by nsv on Monday February 07, 2022 @05:46PM (#30252487)

Big difference between millionaire and centi-millionaire or billionaire though. You can save a million dollars just by making the median American salary and making large contributions to your 401k over 40 years, due to the power of compound interest.

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Re:Can a $310M startup avoid due diligence? by webmaven on Tuesday February 08, 2022 @02:52PM (#30263640)

> 80% of US millionaires are first generation.

Apples and oranges. Most of the wealth is not most of the wealthy people.

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Re:Can a $310M startup avoid due diligence? by majani on Monday February 07, 2022 @05:30PM (#30252284)

Inheritance doesn't start and stop at money. There are other inherited traits that may influence the scores of the people in the study.

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Re:Can a $310M startup avoid due diligence? by speleding on Tuesday February 08, 2022 @03:49AM (#30256189)

Intelligence is hereditary too, in large part, so that would lead to the opposite conclusion right?

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Re:Can a $310M startup avoid due diligence? by floodyberry- on Monday February 07, 2022 @03:13PM (#30250327)

You're literally on the "rich people are better than" site

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Re:Can a $310M startup avoid due diligence? by gumby on Monday February 07, 2022 @02:24PM (#30249700)

The majority of people world wide are, by that definition, idiots.

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Re:Can a $310M startup avoid due diligence? by irthomasthomas on Monday February 07, 2022 @03:29PM (#30250600)

Juicero

Theranos

ZERA food recycler

Nikola electric truck

What are your favourites?

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Re:Can a $310M startup avoid due diligence? by danjac on Monday February 07, 2022 @03:53PM (#30250955)

Re: Theranos - to give Henry Kissinger and the other very old rich guys the benefit of the doubt, perhaps Elizabeth Holmes is just a Bene Gesserit using the Voice to get them to hand over their money?

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Re:Can a $310M startup avoid due diligence? by elkos on Tuesday February 08, 2022 @12:00AM (#30255057)

Honestly I can't even fathom trusting my hard earned money to a person that doesn't blink.

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