- Fraud prevention startup NS8 implodes as SEC investigates them for.... fraud
- Memo to Robinhood traders: "Bankruptcy" usually means the equity gets wiped out
- Thematic next-wave portfolio constructor Motif goes bust
- Siri: What is a "Unicorn circle jerk"?
- AirBnB Pivots to "Virtual Experiences", Lands $1 Billion Down Round
What went wrong at Social Capital?
“Social Capital arrived in Silicon Valley seven years ago with a charismatic co-founder, former Facebook executive Chamath Palihapitiya who also owns a piece of the Golden State Warriors. It raised more than $1 billion and made early bets on companies like Slack.”
…and then it all went to shit. This Axios article tracks the implosion. (Sometimes I think by building a real company that actually has a real service and a customer base for 20 years was the wrong way to go. I should have just gone to Silicon Valley, blown smoke up everybody’s ass, and started a fund….)
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