The discipline at Sequoia is diminishing .. They recently invested in a useless company known as Protege and at one point in time, they wouldnt have given this garbage a first look much less to invest in it... They have money that they obviously need to deploy in order to provide a return to their LP and are making investments based on numbers as a risk profile .. There is no way that a company would lose 200 million in a single deal and then have the nerve to say that its not that important due to them managing 6 billion... They didnt do any due diligence and that is obvious ... With an investment of that size, a forensic accountant would have been commissioned to check out the numbers etc but hey, they still have 6 billion
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Good interview. Alfred is impressive.
I really love your content! Awesome
$200 mil for less than 1% of FTX sounds horrible. He made their case even more inexcusable.
The discipline at Sequoia is diminishing .. They recently invested in a useless company known as Protege and at one point in time, they wouldnt have given this garbage a first look much less to invest in it...
They have money that they obviously need to deploy in order to provide a return to their LP and are making investments based on numbers as a risk profile .. There is no way that a company would lose 200 million in a single deal and then have the nerve to say that its not that important due to them managing 6 billion... They didnt do any due diligence and that is obvious ... With an investment of that size, a forensic accountant would have been commissioned to check out the numbers etc but hey, they still have 6 billion
"That is dissatisfying". Ouch 😆
"We asked if it was independent and we were told it was". Seriously? That's not due diligence in my reality. Maybe it's an alternative reality.