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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 11 months ago by L4s@lemmy.world to c/technology@lemmy.world

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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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[–] gravitas_deficiency@sh.itjust.works 29 points 11 months ago (6 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.

[–] Bal@lemm.ee 17 points 11 months ago (4 children)

Just to clarify, SoftBank is not a bank.

[–] czarrie@lemmy.world 3 points 11 months ago

Yeah, they make Link Amps

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