You're missing the point of VC funds. Due diligence doesn't matter, incompetence doesn't matter, reality doesn't matter. What matters is if they can turn their 1 dollar into 2.
Doesn't matter if that requires breaking laws(airbnb) or stealing from naive people(shitcoins) they will do it, full stop. Once you understand that VC funds are literally robber barons who grouped together and gave themselves a new name it all makes a lot more sense.
Doesn't matter if that requires breaking laws(airbnb) or stealing from naive people(shitcoins) they will do it, full stop. Once you understand that VC funds are literally robber barons who grouped together and gave themselves a new name it all makes a lot more sense.