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> When the VCs really want something, due diligence, especially the sort you mention, and any sort of business plan / model / etc goes out the window.

Indeed. Post FTX, Sequoia not only scrubbed the hagiography of SBF from their site, they also scrubbed a story about how they went from meeting to funding company in 48 hours. Not sure how much due diligence you can do in that time frame.

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Oh Sequoia. The company that put $41M in a single seed round into a company that did... nothing: https://www.businessinsider.com/how-the--did-color-raise-a-c...

Hmm, the article seems to suggest that perhaps Bain put up the majority of that round.

The update in that article said:

"Update: CNET's Caroline McCarthy tweets at us: "Sounds like a good theory, except that a Color exec told me Sequoia's $$ was nearly triple Bain's." So we're back to: HOW DID THIS HAPPEN?"

So Sequoia put in nearly triple what Bain put in. The article was just guessing before the update.

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