Adulting: Will It Persist?
May 4, 2020
The lure of leasing a flashy vehicle is strong. Will start ups acquire a reputation for financial probity? DarkCyber is not confident that adulting will endure. The Financial Times (remember its Endeca-based search system?) published “Hottest Silicon Valley Start Ups Begin to Sell Themselves at a Discount.” [Note: this is a link generated by the Financial Times’ security system. You may have to do some experimenting to get the write up to render. You will know you are on the right track when the wonky flesh colored background appears.] Furthermore, the write up asserts, “Balance of power shifts back to investors as founders look to bolster balance sheets.”
The write up includes a Captain Obvious quote attributed to a partner at the upscale law firm Fenwick & West:
“It’s bold and risky to be giving a company a term sheet in this really uncertain environment, and to give that investor downside protection does not seem unfair.”
We love the “does not seem unfair.” Too bad the lawyer did not include a “but for.”
DarkCyber concluded, after pondering the write up on a screen tinted the color of some humanoids’ skin:
- Shakespeare, Merchant of Venice phrase : “pound of flesh”
- Handwaving and virtue signaling are popular
- Bros will be bros
- Lawyers win regardless of the “risk” investors face.
Net net: The bubble is losing its heady mix of methane, sulfur dioxide, and volatile organic compounds or VOCs.
Stephen E Arnold, May 4, 2020
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