EXCLUSIVE: The spiciest diligence report you will ever read about Sequoia's disastrous investment in FTX, one of the largest write-downs in venture capital history
Excellent piece, Yuri. This story should be front page, above-the-fold news in every major rag this week and for months going forward. I’m hoping it’s just too big to bury. Reading and researching this story can take my mind off the sham of an election we just had here in AZ. 🤬
NYT already spun FTX as a hapless kid who made dumb mistakes, not a sociopath in bed with every malevolent force on the planet. Lake and Blake got robbed. Katie Hobbs signing off on her own rigged election is outrageous even in banana republics. Who needs to debate when you can cheat?
Which is exactly why she refused to debate. She knew she was going to win so why bother. Same as Dopey Joe who campaigned from his basement. When you already know the outcome there’s no need to risk any public scrutiny. Sad times in America. And very sad here in Arizona.
Whaddya mean we don't make things anymore? The three letter universe just expanded. Add FTX to the Great Regret's lexicon along with C19, CO2, ESG and whatever else the next crisis gets us.
DEI is a giant FU (Failing Up). I know of other cases that didn’t involve losing this much money. Compound this millions of times across the country and you have identity socialism with full demoralization.
The storytelling quote is priceless. That last 5 minutes was rough. Don't you love the diversity crowd? Close your eyes and they all sound the same: gurgle throat; every phrase is a question; like three like filler words ummmm for like every useful word; is it a cliche bot that has "totally crushed it" as a Turing machine or a regime NPC talking ...
As for SBF, he is probably cooling his heels in some Tel Aviv penthouse, will be a regular out on the beaches in 6 months spending the 10% he got from the big guy(s).
P.S. Did you create the "And we even named him Bankman" meme? Pure genius.
Great piece…pure uncut schadenfreude. She looks like the type of woman who will one day cry in court describing SBFs (probably) deformed genitals. Hope she’s down at the tenderloin blowing Hondurans for fentanyl
Okay, I tried to keep up, but following all the TLAs (Three Letter Acronyms), the use of the word "physiognomy," talk about the Nazis (Ukrain, WEF Wehrmacht), and all the photos from Bride magazine, I am at a loss to figure out what your recommendation is...so, I have one question:
I just subscribed and will now start sharing these most interesting, thought provoking, funny and skepitcal posts to my FB page where no one will read them but a few will "like" them.. just to be nice.. but I live in hope
don't forget how this will be spun to create wholesome new govt regulations galore that will ensure we all are well taken care of...that is the real story imo
As someone who has dealt with fundmanagers&co, I quickly came to the conclusion an IR acquaintance and his CEO drew after having met a few typical higher-profile examples: "These are the guys?!"
They are ALL so full of themselves, but MOST know practically nothing that really matters.
Excellent piece, Yuri. This story should be front page, above-the-fold news in every major rag this week and for months going forward. I’m hoping it’s just too big to bury. Reading and researching this story can take my mind off the sham of an election we just had here in AZ. 🤬
NYT already spun FTX as a hapless kid who made dumb mistakes, not a sociopath in bed with every malevolent force on the planet. Lake and Blake got robbed. Katie Hobbs signing off on her own rigged election is outrageous even in banana republics. Who needs to debate when you can cheat?
Which is exactly why she refused to debate. She knew she was going to win so why bother. Same as Dopey Joe who campaigned from his basement. When you already know the outcome there’s no need to risk any public scrutiny. Sad times in America. And very sad here in Arizona.
Yes, silly old GOP still chasing "voters" when the Dems have the ballot system locked down tight.
See you in another two years losers! Thanks for participating in our circus! Honk honk!
Incessant upspeak? Check.
The lingua franca of the NPC chattering class?
That cartoon of Ellison is brutal.
Well done.
Whaddya mean we don't make things anymore? The three letter universe just expanded. Add FTX to the Great Regret's lexicon along with C19, CO2, ESG and whatever else the next crisis gets us.
Fantastic bringing together of the facts needed now!
Now that's what I call failing upwards.
DEI is a giant FU (Failing Up). I know of other cases that didn’t involve losing this much money. Compound this millions of times across the country and you have identity socialism with full demoralization.
The storytelling quote is priceless. That last 5 minutes was rough. Don't you love the diversity crowd? Close your eyes and they all sound the same: gurgle throat; every phrase is a question; like three like filler words ummmm for like every useful word; is it a cliche bot that has "totally crushed it" as a Turing machine or a regime NPC talking ...
As for SBF, he is probably cooling his heels in some Tel Aviv penthouse, will be a regular out on the beaches in 6 months spending the 10% he got from the big guy(s).
P.S. Did you create the "And we even named him Bankman" meme? Pure genius.
Great piece…pure uncut schadenfreude. She looks like the type of woman who will one day cry in court describing SBFs (probably) deformed genitals. Hope she’s down at the tenderloin blowing Hondurans for fentanyl
ROFL that wins best comment. Imagine being Gavin - your wife banged Harvey Weinstein and your in-laws donated to DeSantis.
That testimony was grotesque and apparently she’s so insufferable she’s making Weinsteins lawyers roll their eyes in court.
Okay, I tried to keep up, but following all the TLAs (Three Letter Acronyms), the use of the word "physiognomy," talk about the Nazis (Ukrain, WEF Wehrmacht), and all the photos from Bride magazine, I am at a loss to figure out what your recommendation is...so, I have one question:
- Should I invest in this or not?
- What kind of investment blog is this?
Okay, that was two questions.
The answer is “yes”.
I just subscribed and will now start sharing these most interesting, thought provoking, funny and skepitcal posts to my FB page where no one will read them but a few will "like" them.. just to be nice.. but I live in hope
don't forget how this will be spun to create wholesome new govt regulations galore that will ensure we all are well taken care of...that is the real story imo
“The Wire” was 20 years ago? No wonder I see my mother when I look in the damn mirror!
A good summary: https://www.commonsense.news/p/the-32-billion-crypto-scammer?utm_medium=email
As someone who has dealt with fundmanagers&co, I quickly came to the conclusion an IR acquaintance and his CEO drew after having met a few typical higher-profile examples: "These are the guys?!"
They are ALL so full of themselves, but MOST know practically nothing that really matters.
Do not buy actively managed funds.
‘’Jonah Hill should clear his schedule to play SBF in a Netflix show.”😂🤣
MBF increased student enrollment in her program at Brown by 170% as a TEACHING ASSISTANT? Time to revamp my CV!
A delightful dose of schadenfreude. FTX named a set of trading features "Quant Zone rules." Quant
Zone indeed. Heh.
https://help.ftx.com/hc/en-us/articles/360041683831-Quant-Zone-Rules-FAQ