Explaining the FTX Implosion, and How VCs can avoid being tricked by obvious frauds
goodai.substack.com
Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here. From compromised systems integrity and faulty regulatory oversight abroad to the concentration of control in the hands of a very small group of inexperienced, unsophisticated, and potentially compromised individuals, this situation is unprecedented.
Explaining the FTX Implosion, and How VCs can avoid being tricked by obvious frauds
Explaining the FTX Implosion, and How VCs can…
Explaining the FTX Implosion, and How VCs can avoid being tricked by obvious frauds
Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here. From compromised systems integrity and faulty regulatory oversight abroad to the concentration of control in the hands of a very small group of inexperienced, unsophisticated, and potentially compromised individuals, this situation is unprecedented.