zlacker

>>donsup+(OP)
The last few weeks (months, really) has highlighted an incredible lack of discernment in the VC-verse wrt the thing we call web3. Now. I have no experience doing what YC does and don’t claim to, but the jig here was so transparent that the smallest drop of “street smart” should’ve been enough to set off some alarms.

We’re approaching a point where being passed over for “culture fit” is a compliment. Hopefully the embarrassment is enough to expand the founder vetting checkboxes.

>>okwubo+x7
If they’re unlucky they lose $500k, which is nothing. If they’re lucky they get a Coinbase. Why not.

>>oefrha+i8
$42 million of real people’s money was lost. That’s a net negative to society whether or not it shows up on a balance sheet.

>>okwubo+m9
Sure but as long as they (the VC) are shielded from liability, it's not their problem. Society is something other folk can worry about. And if things get really bad, then a quick essay on lessons learnt, we should all move on, etc.

>>monkey+Y9
> Society is something other folk can worry about.

The main problem with capitalism in one handy sentence.