I’m going to be cynical here. AVC is an established fund with a great track record and can take a moral high road and ask others to do the same. But what if they were 18 months into raising their first fund and still pushing for the first close. Would they be so eager to take that high road?
Who Are My Investors?
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Re: Who Are My Investors?
#72I’m going to be cynical here. AVC is an established fund with a great track record and can take a moral high road and ask others to do the same. But what if they were 18 months into raising their first fund and still pushing for the first close. Would they be so eager to take that high road?
> Would they be so eager to take that high road?
In my opinion it has been made clear that doing business honestly and with morals will win in the long run. So yes they would have taken "that high road" because, if you want to be cynical, that is the way to make the most money.
The only thing cynical about your comment is the idea that acting in bad faith is more profitable than acting in good faith. I think that our society, especially the financial part of it, knows that now.
Re: Who Are My Investors?
#73> They include large pension funds for public employees like teachers, firemen, police, and the like.
How is investing in internet startups part of teachers, fireman, and police pension? It's just about the most risky and difficult investment to get right. Most startup investors aren't successful and if they are it's because 50 portfolio companies fail and 1 or 2 exit for a billion.
I don't understand how the retirements of middle class Americans can be bet (litterally craps style on green) on startups.
Re: Who Are My Investors?
#74Pretty much every single comment so far is cynical. "No one really wants to know how the sausage is made", lots of money is tainted anyway, it's just PR fluff, etc etc. The classic HN Middlebrow Dismissal in full effect. Counterpoint: cynicism is too easy. Actually giving a shit is harder, it's uncomfortable, it involves compromise. Yes, if you refuse investment from any country that has ever violated a human right,…
I tend to agree. I don’t get why people don’t value someone who starts to raise the bar. Even if that’s not high enough, why not see it as something that needs to develop over time?
> I don’t claim to have entirely clean hands in this regard. When we sold our Twitter stock before the IPO many years ago, it turned out the buyer was fronting for gulf interests. I found that out after the fact but that doesn’t absolve me of anything. I could have asked the questions before executing the sale.
^^ That's why. He's "raising the bar" after making money through means that he would find despicable now. "Ends justify the means" is what got us into this mess, and unless he is willing to give away the gains from the arguably tainted money he's just posturing.
Re: Who Are My Investors?
#75I hate it when, just because something becomes a big media story (I.e. Saudi Arabia killing a journalist) everyone comes out of the woodwork “oh dear! How can we not do business with these people?”
When in fact, it’s been going on for decades and nobody gave a shit... until now, when giving a shit can firm up your virtue signaling.
Re: Who Are My Investors?
#76Earlier quoted context omitted.
I tend to agree. I don’t get why people don’t value someone who starts to raise the bar. Even if that’s not high enough, why not see it as something that needs to develop over time?
> I don’t claim to have entirely clean hands in this regard. When we sold our Twitter stock before the IPO many years ago, it turned out the buyer was fronting for gulf interests. I found that out after the fact but that doesn’t absolve me of anything. I could have asked the questions before executing the sale. ^^ That's why. He's "raising the bar" after making money through means that he would find despicable now. "…
People do change. Calling it posturing is premature judgement.
Re: Who Are My Investors?
#77"“Bad actors” doesn’t simply mean money from rulers in the gulf who turn out to be cold blooded killers." - like we all did not know that before the referenced event?
As other commenter pointed out, we don't have enough information to judge the situation beyond reasonable doubt.
MBS was selling himself as a reformer and everybody deserves a benefit of a doubt. Maybe it was of one the generals that decided to kill the journalist. Why would MBS risk all the deals he has made and about to made? Oil doesn't give him that much leverage right now and sanctions could topple the government.
I'm not trying to make a case for or against him. It's impossible for an average person to know what is going on exactly.
Re: Who Are My Investors?
#78I hate it when, just because something becomes a big media story (I.e. Saudi Arabia killing a journalist) everyone comes out of the woodwork “oh dear! How can we not do business with these people?” When in fact, it’s been going on for decades and nobody gave a shit... until now, when giving a shit can firm up your virtue signaling.
So what are you suggesting or are you just complaining to no end?
Re: Who Are My Investors?
#79Earlier quoted context omitted.
> I don’t claim to have entirely clean hands in this regard. When we sold our Twitter stock before the IPO many years ago, it turned out the buyer was fronting for gulf interests. I found that out after the fact but that doesn’t absolve me of anything. I could have asked the questions before executing the sale. ^^ That's why. He's "raising the bar" after making money through means that he would find despicable now. "…
People do change. Calling it posturing is premature judgement.
Until he comes out and says "we made $X from doing business with questionable entities, and here's how we gave back $X without lining our pockets", it's posturing.
Re: Who Are My Investors?
#80At any business effort beyond hyper local markets, there is virtually no way to avoid tainted money or unethical markets. You're going to have to compromise somewhere. The question is, how and where do you draw the line? At some point as a founder/fundraiser, you will cross paths with finance or supply chains that support exploitation, coercion, violence or illegality. The most successful business people don't seem t…
This doesn't sound so convincingly acceptable if we consider that their investments make profits, which end up funding whatever unethical thing they do.