What the “Cult of the Founder” Gets Wrong

switchthefuture.com

3 pointsohjeez2 comments

"fundamentals were largely missing from WeWork’s operations, despite the vetting and due diligence that VC does prior to investment."

VC do vetting and due diligence? She must live in Bizzaro Silicon Valley. Seat of the pants investing has always been the norm. Like how much "due diligence" did Draper Fisher Jurvetson do on Theranos. Soft Bank must spend all of 5 minutes and a night out in a Karaoke Bar to make their decisions.

I always thought the VCs rolled a D20 to determine if an investment is worthwhile or not.

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