[teisman]

It is interesting how this blog-post directly follows the "The Post-YC Slump" post [0]. One can easily make the mistake of considering time spent on financial statements "fake work", fake work being identified as one of the reasons for the slump.

The fact that there are financial misstatements indicates that there is more need for this type fake work, or perhaps the whole fake work thing isn't so fake after all.

[0] http://blog.samaltman.com/the-post-yc-slump

[mildbow]

Exactly what I thought too.

Why not have a bootcamp for a few basic finance rules/jargon? Assuming they see the same sort of issues crop up, surely a 1-3 day bootcamp is a lot less "fake work" than every founder now needing to figure out what they need to know and then know it?

[lmm]

Depends how much these financial misstatements end up costing them. Plenty of successful startups base their business on breaking the law, to a lesser or greater extent.