Three Cofounders of $2B Fintech Pipe Resign Abruptly, Citing Inexperience | Hacker News Reader

Three Cofounders of $2B Fintech Pipe Resign Abruptly, Citing Inexperience

forbes.com

18 pointsJaakkoP9 comments

Did these guys kill someone together and someone get it on tape or something?

I've seen people calling SBF and Caroline Ellison "kids." Scandals surround Biden's "child" and Trump's "children." These "kids" are stepping back as it becomes clear that they're teetering on the brink of a collapsing economy, possibly because they were overconfident about bitcoin.

Common theme: these are all grown-ass adults of 30+ years. I'll be honest, I have trouble believing that I'm an adult and I'm over 40. I hate to say it, but... was Gen X the last generation of adults?

"Adulthood" is just an arbitrary marker usually defined by some form of hazing. As we reject traditional rites of passage and ritual markers of "adulthood" (or they are withheld from us like home ownership or family rearing becoming unaffordable) adulthood becomes elusive.

I don't care one yotta. Everything about this monkey society life is utterly arbitrary.

Older boomers control the lion's share of the wealth.

> It lets other businesses such as software companies sell their future recurring revenue to large institutional investors for cash the borrowers can spend immediately.

Add some crypto to the mix and that's a recipe for disaster.

That model sounds like something only leading to horrible things...

But they are a middle-man company selling shovels. So with proper connections and management it is not horrible model. If there is demand on side supplying the loans.

I know that SV has a soft spot for repeat founders, I wonder if this sort of behaviour will reflect badly on them the next time they try and raise funds. Either more is going to come out about fraud/terrible decisions, of these guys gave up absurdly easily.

I keep hearing about structural issues in fintechs and all of this FTX, Pipe, Evolve news is not helping.

What is Chief Business Officer?

Also, does anyone have a typical org chat of the early stage or unicorn fintech startup?

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