SoftBank is suing portfolio company IRL after it admitted 95% of its users were fake. VCs are stressing the need for ‘uncomfortable’ due diligence::undefined
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I’ll be blunt: if a large bank is stupid enough to invest money in a company that’s basically vaporware, and they invest because they were far too lazy to do any real due diligence, that’s on the bank.
Just to clarify, SoftBank is not a bank.
It’s never a bad day when tech VCs lose money
This is literally the GoJo plot in Succession lmao
That’s because it keeps happening in real life
