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[return to "YC W22 Stablegains is being sued for losing $42M in funds from 4878 customers"]
1. okwubo+x7[view] [source] 2022-05-19 07:20:31
>>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.

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2. JofArn+wz[view] [source] 2022-05-19 12:05:02
>>okwubo+x7
VCs are unfortunately, on the whole, all too discerning when it comes to Web3. It's a meme now in the community that when a VC and tokens are involved, there's a good chance they are getting preferential treatment and using the end users as their exit liquidity. That's not necessarily the case here but "greed" has become a general theme and the motivations behind otherwise-puzzling investments become clear when viewed through that lens.
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3. cycrut+bO[view] [source] 2022-05-19 13:25:18
>>JofArn+wz
Thank goodness the SEC is protecting people and their money… by sitting on their hands and doing jack shit.
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4. rchaud+po1[view] [source] 2022-05-19 16:16:38
>>cycrut+bO
What legal jurisidiction do they have to intervene?
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