this post was submitted on 14 Aug 2023
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151
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 [email protected] to c/[email protected]
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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] 43 points 1 year ago

How is it uncomfortable verifying how many customers you have? As someone who works in the legal sector I am staggered by how many anyone nebulous software companies are bought without the buyer conducting minimal due diligence like a review of the top 20 customers.