alt Hacker NewsYou can call it a bait but where is VCs due diligence for this. Most VCs where out there defending their infra layers investment. Just look at YC batches and see the inflated number of infra startups.
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"Failure" is the expected median though. You can't due-diligence your way out of "startup ran out of runway"!
The discussion here isn't about funding, it's that there's a presumptively useful community tool which got abandoned because its owners took their toys and went home when the money ran out (instead of making a sincere effort at transitioning to community governance). That's on the IP owners being selfish jerks and/or grifting losers. It's not the VC's fault.
The due diligence report just come back:
The report says, the CEO and founder, is a Ketamine addicted weirdo, who does Nazi salutes in public, is know to have at least 24 kids, and lives in an isolated farm in Texas, with at least 5 to 7 female partners, and got sued for calling a guy who saved kids a Pedophile.
You in?
Right? I’ve been through due diligence and it’s neither a quick nor simple process, even for seed.