alt Hacker NewsIt's not just about delve. It's about yc's model. YC encourages YC companies to trust other YC companies even though they are early.
If you can't trust your batch mates for something as crucial as compliance, the model doesn't work.
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this is a teachable moment for yc, maybe the cost of investing in a sour apple is a lot more than half a mil, maybe there's a brand or reputational cost, even in places you least expect it right, these two seemingly had everything laid out for them by investors, did they even come up with compliance? who told them to work on that? now look what happened, it's like everyone cant get far enough fast enough now. What about their lead investor insight partners? what's that conversation like?
it's all just very strange and stupid, ironically from the the startup posing as auditors..
Seems crazy that anyone (startups and buyers) would trust these guys for audit.
Shows the “compliance theatre” of what SOC2 has become
It can work under the umbrella of some sort of coordinator
That looks like what happened here.
They've graduated 5,000+ companies, so some fraud is hard to avoid, especially with young hungry founders willing to do anything to succeed. Honestly, it's a pretty good track record that there's only been a handful of companies like this.