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Comment on SoftBank is suing portfolio company IRL after it admitted 95% of its users were fake. VCs are stressing the need for ‘uncomfortable’ due diligence

gravitas_deficiency@sh.itjust.works ⁨1⁩ ⁨year⁩ ago

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.

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Bal@lemm.ee ⁨1⁩ ⁨year⁩ ago
Just to clarify, SoftBank is not a bank.

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- dragontamer@lemmy.world ⁨1⁩ ⁨year⁩ ago
  Just to clarify: a “commercial bank” is like Bank of America, or Wells Fargo.
  
  An “investment bank” is like… Softbank. They pool money together of the rich and they all make massive bets on companies with their pooled money.
  
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  - dust_accelerator@discuss.tchncs.de ⁨1⁩ ⁨year⁩ ago
    That just makes it worse and totally deserved.
    
    “You had one fucking job!”
    
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- czarrie@lemmy.world ⁨1⁩ ⁨year⁩ ago
  Yeah, they make Link Amps
  
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gamer@lemm.ee ⁨1⁩ ⁨year⁩ ago
It’s never a bad day when tech VCs lose money

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