221–230 of 344 posts
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> YC is, ultimately, not responsible for what these startups choose to do. Of course they're responsible for their investments; they're just not liable. YC has a lot to answer for in the damage it's wreaked over the years.
The “I just have the arsonist the match, I didn’t tel him to strike it” approach of tech bros has caused untold damage to the world over the last 20 Years.
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It's always been one. Every single technical auditor I've dealt with has been majorly incompetent and wanted to do things that would decrease security. And these were not some cheap bottom of the barrel companies but the big "industry leaders".
Never forget https://serverfault.com/questions/293217/our-security-audito...
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You should check out the banking industry sometime if you'd like to interact with a competent auditor. Compliance gets taken quite seriously in an industry where one of your principal regulatory bodies has the power to unilaterally absorb your business and defenestrate your entire leadership team in the middle of the night.
They could. But they don't. I've seen this up close. The regulatory bodies as a rule are understaffed, overworked and underpaid. I'm sure they'd love to do a much better job but the reality is that there are just too many ways to give them busywork allowing the real crap to go unnoticed until it is (much) too late.
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Not sure it's exclusively a U30 thing. When it comes to grift and fraud, a well known 79 year old comes to mind.
Who rapes and bombs schools full of U18 children.
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> YC is, ultimately, not responsible for what these startups choose to do. Of course they're responsible for their investments; they're just not liable. YC has a lot to answer for in the damage it's wreaked over the years.
The “I just have the arsonist the match, I didn’t tel him to strike it” approach of tech bros has caused untold damage to the world over the last 20 Years.
Earlier quoted context omitted.
> YC is, ultimately, not responsible for what these startups choose to do. Of course they're responsible for their investments; they're just not liable. YC has a lot to answer for in the damage it's wreaked over the years.
The “I just have the arsonist the match, I didn’t tel him to strike it” approach of tech bros has caused untold damage to the world over the last 20 Years.
Earlier quoted context omitted.
I came across a top tier compliance auditor doing the same thing recently. I tried to talk to them about it and rather than approaching this from a constructive point of view they wanted to know the name of the company that got certified so they could decertify them and essentially asked me to break my NDA. That wasn't going to happen, I wanted to have a far more structural conversation about this and how they probab…
It's auditing, nobody that is good at doing anything goes to auditing, unfortunately its one of those jobs. I haven't interacted with any auditor that actually understood all they were auditing, some are better than others but the average is worse than almost any other job description I have dealt with.
None of those are likely.
This is the industry that missed Enron, WorldCom, Wirecard, Lehman, and many others.
YC needs to go back to how it was. Choosing those who know what they are doing, and have been in the game for long and not blindly choose those who have graduated from tier-1 institutions. University degrees mean nothing at the end of the day. And please stop investing in slop/wrappers. They do not solve World's problems. I feel there has been complacency set into investing in general where investors are chasing quic…
YC since then seems to have moved into a "spray and pray" approach where the ideas don't matter at all, they're 150% in on the "We invest in founders" idea now, almost too much, although I know that's always been a thing they've thought about. But all the batches since some years ago are just so uninspired and seem to be quick cash grabs, or obviously acquisition targets, rather than "solve a problem you experience yourself" which seemed to be much more popular (and realistic) before.
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It's auditing, nobody that is good at doing anything goes to auditing, unfortunately its one of those jobs. I haven't interacted with any auditor that actually understood all they were auditing, some are better than others but the average is worse than almost any other job description I have dealt with.
The industry is paid to provide a fig leaf for shady practices. Everyone knows what's going on, no one is going to do anything about it unless governments step in and give regulators more resources and more teeth, and "errors" lead to prosecutions and jail time. None of those are likely. This is the industry that missed Enron, WorldCom, Wirecard, Lehman, and many others.