51–60 of 101 posts
If you go through the most recent YC batches, it's insane how much of their "customer list" is just other companies in the same or recent batches
One of Micheal and Dalton video does address this Even if you larp revenue, when you get acquired or go public auditors will figure stuff out. Or worse you go to prison. Its like cheating in college-youre just hurtung yourself and others
What people miss from these things is that there is economic value being created. For example, if you gift someone a $100 Amazon gift card, but they also gift you a $100 Amazon gift card. Has any gift actually been exchanged? Yes, the sentiment of giving. Or if someone pays you $100 to eat a pile of shit, and then you use the same $100 to pay them to eat a pile of shit, you both have eaten, but the money is in the sa…
I just valued my buddy at 1.2 Trillion
https://www.utb.uscourts.gov/sites/utb/files/case_opinion/38...
Earlier quoted context omitted.
Corgi is even worse than just circular revenue, their entire insurance business is a house of cards: https://reticulating.substack.com/p/ycombinators-corgi-insur...
Thanks for the article, I assume you are the author. I think the main question about Corgi is: are they underpricing risk so severely that they go bust? And honestly, we have no idea. For all we know startups are buying overpriced insurance from Corgi because they have a better brand and are easier to deal with than Berkshire's army of underwriters. Though it's also worth noting that the main reasons startups buy ins…
Earlier quoted context omitted.
Corgi is even worse than just circular revenue, their entire insurance business is a house of cards: https://reticulating.substack.com/p/ycombinators-corgi-insur...
Thanks for the article, I assume you are the author. I think the main question about Corgi is: are they underpricing risk so severely that they go bust? And honestly, we have no idea. For all we know startups are buying overpriced insurance from Corgi because they have a better brand and are easier to deal with than Berkshire's army of underwriters. Though it's also worth noting that the main reasons startups buy ins…
You should read up on what a risk retention group is and how it works. To me, it's even worse than you think.
> For all we know startups are buying overpriced insurance from Corgi because they have a better brand...
Is this tongue in cheek?
> ...and are easier to deal with than Berkshire's army of underwriters.
Or they provide "insurance" for things that the world's most experienced insurers don't want to touch, or won't touch without a lot of underwriting. Which in itself is a red flag.