How is it that a bank filled with very smart, well paid people failed to do proper due diligence before investing in a company? I mean, I get that institutions are tripping over themselves to invest in Minority-founded/led startups, and there's nothing wrong with that. But that's AFTER you've done the due diligence and made sure there's a degree of legitimacy there....otherwise, what's the point?

Just sad that the banks (which tend to hire the best and brightest out of the top schools) made themselves look dumb. This in particular is a bank that has over 3 trillion dollars on its books....can't be making mistakes like that, even if the total $$$ amount invested is a rounding error to them.