Founder of DeFiance Capital: A fake project was successfully funded at a valuation of 1 billion dollars, and VC due diligence standards were significantly reduced
2024-04-29 02:10:29
Arthur Cheong, founder and CEO of DeFiance Capital, said in a social media post that VC due diligence standards have dropped significantly in recent months. A project full of questionable characters and founders with questionable histories has been successfully funded at 1 billion valuation. If this situation does not change, it will continue to attract speculators into the field.
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