Holy crap. DST Global and its affiliates have (or had in formative years) significant stakes in Facebook, Twitter, Spotify, ZocDoc, Planet Lab, Xiaomi, Stripe, Alibaba, WhatsApp and Airbnb [1]. Milner has close ties to Y Combinator [2]. It's been a deal-terms setting, behind-the-kimono peeking major investor for a decade. This is immensely scary. We've utterly failed, as an industry, to self regulate. [1] https://en.…
Why is this surprising? When Milner came virtually out of the blue (or red, as the case may be) a few years ago, it seemed obvious that he was a conduit/laundry for oligarch cash at least. I even remember telling someone at the time that if we were chosen for YC, we didn't want Milner's dirty money. The additional Kremlin state ties seem only an additional technicality. (I mean the formalized acknowledgement of what…
The line between investing for potentially-corrupt interests and acting at the behest of a geopolitical competitor is night and day. DST didn't just hand cash over to companies. They conducted extensive diligence and sat on Boards.