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A comment on FTX Contagion. Parent comment

Re:FTX Contagion by ethbr0 on Tuesday December 06, 2022 @04:20PM (#33887217)
This is why standardized processes and adherence to them is absolutely critical for risk management.

There is always going to be a situation where there's substantial political / personal pressure to skip checks, sometimes from the CEO themselves.

Good processes are built to hold the line even when literally everyone is urging everyone else to bypass them. Which is really hard.

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Re:FTX Contagion by mrguyorama on Tuesday December 06, 2022 @04:31PM (#33887351)
VCs with rigorous process get out-competed by the ones that jumped at garbage companies that racked up huge valuations and then cashed out. VC isn't about making good companies, it's about cashing out. There's no value in the business actually being good, only in it being hyped up.
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