Re:FTX Tapped into Customer Accounts to Fund Risky Bets, Set...
by pge on Thursday November 10, 2022 @03:22PM
(#33552703)
It is dangerous to extrapolate from one case (or even a few notable cases in recent years) that venture funds have "little oversight" over portfolio companies. These are the exceptions rather than the rule.
Obviously, some boards are better than others at oversight, but the complete absence of a functioning board, as was the case at FTX, is definitely very, very unusual.
Re:FTX Tapped into Customer Accounts to Fund Risky Bets, Set...
by largepeepee on Thursday November 10, 2022 @03:44PM
(#33553033)
Like you have conceded, there are more than a few notable cases in recent years.
Often hiding their "secret sauce", which often turn out to be lies and deception for a variety of reasons.
It is no longer very very "unusual" when free loans, credit and liquidity has been floating around for years thanks to the money printer.
Re:FTX Tapped into Customer Accounts to Fund Risky Bets, Set...
by furyofantares on Thursday November 10, 2022 @07:32PM
(#33555818)
What's dangerous about that?
They come across more like frat bros with huge pockets casually giving away billions under a pinky promise of eventual returns.
At this point, they are doing the same level of DD as those degens in WSB.
But I guess you don't have much leverage when the fed is printing trillions for years and we end up with dozens of Zuckerberg types, too much power and no oversight to hold them accountable.