Holy crap. The only way forward for Bessemer et al. VCs is to immediately withdraw their funding for this “company” and cut all ties in order to prove that they had no forewarning that this is how their money was being used. There are so few actors this visibly bad that if they didn’t do anything they would become “that guy” everybody avoids, in both the deals and funding space, when orgs do their due diligence.
So they could choose to not do anything, which means the only companies approaching them in the future are the desperate ones, and they lose the capital anyways to the markets due to a shoddy portfolio.
So they could choose to not do anything, which means the only companies approaching them in the future are the desperate ones, and they lose the capital anyways to the markets due to a shoddy portfolio.
Don’t knife your intangibles.