[maxbond]

When VCs skip diligence and invest in a bunch of frauds like Wirecard, Greensill, FTX, etc., it creates an externality we all have to deal with - we're basically subsidizing their credulousness by getting defrauded.

Since huge frauds propped up by VCs seem to collapse several times a year, it doesn't seem like losing their money is incentive not to invest in frauds. It seems like they've just priced it in.

Granted, this might be yesterday's war, money might be tight in the next few years and that might better align incentives.

[mbesto]

> it creates an externality we all have to deal with - we're basically subsidizing their credulousness by getting defrauded.

No one made you buy crypto on FTX. You have to do your own diligence.

> It seems like they've just priced it in

Ding. Ding.

[maxbond]

My mistake, I thought you were interested in a discussion about interesting topics, I see you're more interested in being patronizing on the internet. That's not really what I'm here for, so take care.

[mbesto]

You made a bold and unfounded statement:

> it creates an externality we all have to deal with - we're basically subsidizing their credulousness by getting defrauded.

and I commented on why I thought it was wrong (e.g. "you don't have to deal with these externalities unless YOU choose to"). How is that not a discussion?

> That's not really what I'm here for, so take care.

Yet, you still responded...hence, discussion.

Sheesh, tough crowd.