[blackflame7000]

Yea but investing in a startup is far from a sure thing. They could easily lose their money

[human20190310]

It's possible that the best performing startup fund will be one that invests in nothing, collects a fee, and returns the rest of the money later.

[themgt]

It's possible the best performing knee surgeon will be the one that doesn't perform knee surgery, collects a fee, and returns your knee in the same condition it was in.

Nonetheless, that would be fraud.

[ukoki]

> the best performing knee surgeon will be the one that doesn't perform knee surgery, collects a fee, and returns your knee in the same condition it was in.

Why not? Eg: "Sorry sir, but as you are a weak/old/high-risk patient, knee surgery would be very dangerous — my advice is to stay in a wheelchair"

[blackflame7000]

This situation occurs fairly regularly with cancer when they find out it's inoperable once they open you up. You still gotta pay for it though.

[mrnobody_67]

The data on the ineffectiveness of common surgeries is overwhelming, yet they continue to be performed, because compensation is tied to it.

The "Do something" syndrome is strong - https://fs.blog/2015/06/do-something-syndrome/

[goatinaboat]

I think it was Taleb who said the best way to assassinate a public figure is to provide them with a personal physician

[Scoundreller]

That’s called a consult fee!

Or a salary.

[EpicEng]

But these clients have already expressed a desire to invest in startups. If your idea of working in their best interest is to "not invest in startups" then you shouldn't take the capital (and fee$) in the first place.

[blackflame7000]

I agree that if everyone is being ethical then that is the right thing to do. I'm just worried about the situation where a fiduciary might actually be doing what they think is best by waiting for a better opportunity and I'm not sure how you judge whether they are doing that criminally or sincerely.

[EpicEng]

I imagine the burden of proof would be pretty high. Like you said, it's hard to prove.

[magashna]

They need to prove he was acting maliciously. These cases are hard to win because you can easily say you thought you were doing the right thing.