this post was submitted on 14 Aug 2023
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SoftBank is suing portfolio company IRL after it admitted 95% of its users were fake. VCs are stressing the need for ‘uncomfortable’ due diligence (archive.ph)
submitted 1 year ago by L4s to c/technology
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SoftBank is suing portfolio company IRL after it admitted 95% of its users were fake. VCs are stressing the need for ‘uncomfortable’ due diligence::undefined

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[–] [email protected] 30 points 1 year ago (7 children)

I’ll be blunt: if a large bank is stupid enough to invest money in a company that’s basically vaporware, and they invest because they were far too lazy to do any real due diligence, that’s on the bank.

[–] [email protected] 18 points 1 year ago (4 children)

Just to clarify, SoftBank is not a bank.

[–] czarrie 3 points 1 year ago

Yeah, they make Link Amps

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