FTX investor Sequoia removed its glowing profile of Sam Bankman-Fried

Post by ahMath8 » Sat, Nov 12, 2022, 2:29 PM UTC

astoor wrote: post #94

ZeljkoS wrote: post #61

There are some golden statements in the original Sequoia article: https://web.archive.org/web/20221027181005/https://www.sequo... For example, Sam's opinion on books: “Oh, yeah?” says SBF. “I would never read a book.” I’m not sure what to say. I’ve read a book a week for my entire adult life and have written three of my own. “I’m very skeptical of books. I don’t want to say no book is ever worth reading, but I actual…

There are so many red flags in that article, and that article is coming from Sequoia Capital itself. I can't understand how anyone would have invested anything at all in FTX, let alone an astonishing $1.3 billion in Series B and Series C. Does no-one at these VCs do any form of due diligence (e.g. reading the articles on their own web sites), or are they unfathomably incompetent, or living in some alternate reality f…

Post by vinyl7 » Sat, Nov 12, 2022, 2:34 PM UTC

astoor wrote: post #94

ZeljkoS wrote: post #61

There are some golden statements in the original Sequoia article: https://web.archive.org/web/20221027181005/https://www.sequo... For example, Sam's opinion on books: “Oh, yeah?” says SBF. “I would never read a book.” I’m not sure what to say. I’ve read a book a week for my entire adult life and have written three of my own. “I’m very skeptical of books. I don’t want to say no book is ever worth reading, but I actual…

There are so many red flags in that article, and that article is coming from Sequoia Capital itself. I can't understand how anyone would have invested anything at all in FTX, let alone an astonishing $1.3 billion in Series B and Series C. Does no-one at these VCs do any form of due diligence (e.g. reading the articles on their own web sites), or are they unfathomably incompetent, or living in some alternate reality f…

Post by hamasho » Sat, Nov 12, 2022, 2:36 PM UTC

Post by khuey » Sat, Nov 12, 2022, 2:36 PM UTC

lordnacho wrote: post #78

qprofyeh wrote: post #3

Earlier quoted context omitted.

IANAL. What's his defense?

I worked for an investment company that lost a lot of money once. The first thing we did was go visit the lawyer, who provided great relief for my boss. Basically as long as you haven't broken the law or the contracts, you're ok. It's no different from "I bought some stuff that lost money". That's the defense. I don't know anything about that rather large caveat in this case, but for that old boss it was clear since…

Post by lumost » Sat, Nov 12, 2022, 2:40 PM UTC

vinyl7 wrote: post #103

astoor wrote: post #94

Earlier quoted context omitted.

There are so many red flags in that article, and that article is coming from Sequoia Capital itself. I can't understand how anyone would have invested anything at all in FTX, let alone an astonishing $1.3 billion in Series B and Series C. Does no-one at these VCs do any form of due diligence (e.g. reading the articles on their own web sites), or are they unfathomably incompetent, or living in some alternate reality f…

A decade of money printing left investors with more money than they knew what to do with, so they threw it at anything related to current thing chasing the next FANG (which by the way, hasn't really happened since the last crash...probably because the startup market is saturated). It was a good thing after the 2008 crash and we needed to revive the economy, but it went on for far far too long and now we have a bunch…