5 ms·
People are always too afraid to air dirty laundry in public, because it might get them blackballed -- "you'll never raise money in this town again!", "you'll ne
by earlyresort 15y ago
People are always too afraid to air dirty laundry in public, because it might get them blackballed -- "you'll never raise money in this town again!", "you'll never get a job at a VC-backed firm", "we'll never do a deal with you again!", etc.
I can only think of one case off the top of my head where all the nasty details were revealed and all the names were named - the mid-2000s lawsuit by the epinions founders against Benchmark and August Capital, for similar 'let's wipe out the common' hijinks.
When the lawsuit became public, there was a ton of talk about how the lawsuit would ruin their careers, and they would never raise money again. But Naval Ravikant, one of the plaintiffs, seems to have done just fine. Mike Speiser, another one of the plaintiffs, also did pretty well for himself. Don't know what happened to the rest, but I'd be willing to bet they're still quite comfortably in startup land.
The consequences of naming names aren't as dire as you think they are. For the love of pete, if someone really shouldn't be funding entrepreneurs, tell us who it is.
- jacques_chester 15y agoMy guess: It's not about "never raising a dime in this town again". It's about the bottomless pit of money and pain that is a defamation lawsuit.