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by apohn 2900 days ago
I googled "vegan mayo scandal" and here's a quote from the first result - "He notified Hampton Creek’s two outside board members, from Khosla Ventures and Horizons, that he suspected Tetrick was misrepresenting the company’s finances. Both firms stuck by the CEO, and the board launched no formal investigation."

The quote is from a Bloomberg article - https://www.bloomberg.com/features/2016-hampton-creek-just-m...

It's just astonishing to read that an company executive told board members that something seemed wrong with financials and the board members didn't immediately look into it. If the people who are supposed to be doing the due diligence aren't doing it, who do they think is going to do it?

1 comments

I was at a party a while back. A friend has friends whose families are all pretty wealthy. Friend asks an old buddy what he is doing since college. He responds "I'm a board member now!... Dad says I just have to not ask any questions."

I thought it was a joke, it was not.