The Guardian (November 11)
Sam Bankman-Fried, the convicted cryptocurrency fraudster, “talked a lot of venture capitalists into pouring millions of dollars into his business. Maybe they should be more careful next time. Despite protestations of improving VC due diligence, little is likely to change due to the fear of missing out (FOMO). So-called reforms are instead likely to amount to “stable door securely locked… until next time.”
Tags: Bankman-Fried, Careful, Convicted, Cryptocurrency, Dollars, Due diligence, FOMO, Fraudster, Improving, Protestations, Venture capitalists
Newsweek (December 2)
“The failure to conduct basic due diligence of Bankman-Fried is after all what led to his ability to take so many people for a ride. That refusal to investigate reflects the complexity of the crypto industry and the difficulty involved in tracking the flow of funds and risk on the blockchain. But it’s also further evidence of how the media gets hoodwinked by Robin Hood narratives, something many technology leaders have learned to leverage well.”
Tags: Bankman-Fried, Blockchain, Complexity, Crypto industry, Difficulty, Due diligence, Evidence, Failure, Funds, Hoodwinked, Investigate, Media, Risk, Robin Hood, Tracking
Institutional Investor (September 14)
“In a sign of the times, VC is bragging about being slow and thorough. Thanks to an unfriendly exit environment and lower fundraising, venture capitalists have finally started to focus more on due diligence than closing deals quickly.”
Tags: Closing deals, Due diligence, Exit environment, Fundraising, Slow, Thorough, Unfriendly, VC
