[ramish94]

The more I read about this, the more Im absolutely dumbfounded that Sequoia poured money into them. It took an outside executive 1 day to find out how effed their balance sheet was. Did Sequoia not perform any due diligence?

[JauntTrooper]

One interesting story that's gotten a little lost in the chaos is that after Sequoia invested in FTX, Bankman-Fried also invested $200M into two Sequoia funds:

https://www.ft.com/content/993942cb-1a7e-4689-9d9d-8434d4a74...

[zktrust]

doesn't make sense. if this guy invested 200M USD into Sequoia and then Sequoia invested 150M into FTX. This is not even breaking even and also washtrading.

[thisarticle]

Got Sequoia’s name on their site though didn’t it?

[nojito]

Most of the partners lost it when SBF mentioned that his dream was to create an app that lets people buy bananas on FTX

[turmeric_root]

I LOVE THIS FOUNDER!!

[blitzar]

I am a 10 out of 10!!

[ilrwbwrkhv]

How many of that billions flowed into Sequoia pockets too is the question ;)

[notch656a]

Exactly lol. Way too many people are getting hung up on how sophisticated VC / funds could have invested in FTX/SBF. We often forget these "investors" want above all an exit plan where they get their money back and more. They couldn't give a shit if the company is run with a balance sheet drawn in mspaint with the spraypaint tool by teenage ponzi schemers as long as they know they get the exit before it topples down.

[thisarticle]

You think Sequoia wasn’t made whole (or more)? They likely received tokens and immediately cashed them out (tokens which cost FTX nothing to produce).

[detaro]

According to themselves, they've lost 150 million: https://twitter.com/sequoia/status/1590522718650499073

[thisarticle]

Right.

[xwolfi]

They were too busy learning League of Legends to care.

[zktrust]

True. Excellent.