Jan 06•1 min read
Crypto bro problem
I cannot wait to see how the Crypto Venture Capital firm's policies and procedures after the SEC investigation.
Even the most sophisticated VC firm like Sequoia Capital is falling the same mistake as a rookie investor's mistake without further conducting due diligence.
What makes them to believe FTX and pure their money is a question.
But there is even more questions like what culture those VC firms have and likely buy into the "Trust me, Bro" style of investment for a crypto firm like FTX.
What makes them to think betting on SBF is the best ever?
The package sociopath SBF who pretends to be the white knight in the crypto industry, secretly backstabbing crypto and funds regulations to control crypto.
Sequoia Capital is nothing more than SBF, who burns investors' money away and they believe itself as be overleveraged and mishandling the risk.
Money likely runs within the small cycle of people who know each other and decide to invest each other.
This is how VC firms usually work and until it is not working anymore.
