Re:Binance US No Longer Allows USD Withdrawal for Users
by RestlessMind on Wednesday October 18, 2023 @03:07PM
(#37933242)
In the principle of charity, I would assume that the GP meant average tech companies that reach public markets via IPOs or SPACs. Just look at the performance of those in the last few years. They have crashed much harder than S&P.
Re:Binance US No Longer Allows USD Withdrawal for Users
by ReflectedImage on Wednesday October 18, 2023 @03:14PM
(#37933349)
VC is the search for unicorns. Fund 50 companies and 1 will make back the costs of the other 49 and then some.
By design the average VC tech company (the 49) is a flaming failure. That doesn't mean they can't be packaged up and sold.
Re:Binance US No Longer Allows USD Withdrawal for Users
by georgespencer on Wednesday October 18, 2023 @06:09PM
(#37935448)
Totally get the dynamics of venture capital, but there seems to be a very big gap between funding 50 companies with 1 returning the entire fund and what OP described which is the "average" VC-backed company eventually being used to attempt to defraud unsophisticated consumer and public market investors.
Crypto, on the other hand, seems to be predicated on retail investors and consumers. So they do seem manifestly different as you have expressed them (maybe my issue is with the notion of the "average" VC-backed company?).