Puri: Silicon Valley's trust-based dealmaking enables speed but invites fraud
Shaan Puri · Sam & Shaan Bet $500, Ozy Media Scam, Why Google is Dying, and More | My First Million #223 · Oct 5, 2021 · at 15:38
Shaan Puri and Sam Parr analyze why high-profile investors repeatedly fail to catch fraud during startup fundraising rounds.
0:00 / 0:28exact quote · 28.1s
▶ Watch the full episode on YouTube → 720p mp4 · rendered on demand · StarZero watermark
“This industry runs on trust. And the reason you and I can do deals on a handshake is because we trust each other and we, and there's a lot of founders out there who are, The majority of people are not trying, are not duplicitous or lying or committing fraud. And so that's why Silicon Valley can move at a fast pace because we don't have to take three to six months to diligence every single deal we do. That's why we can move at a fast pace. But the flip side of that is it does create an opportunity for fraudsters to lie.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Shaan Puri
Puri: Future corporate hierarchies will invert, with humans working for AI bosses
“And I think actually it's going the other way, which is it's not that the AI works for us, but that we work for the AI. And people are going to hate that sentence, but let me just describe what that means. AI is very good at Understanding a broad set of inform…”
Puri: AI may cure death and revive cryopreserved people within 30 years
“It's not crazy that in the next 30 years that AI's gonna figure out how to, like, cure a lot of disease, death, to be able to bring back cryogenically frozen people to be alive, or to, like, upload their consciousness, upload their brain into some sort of, lik…”
Puri: Central AI will manage corporate strategy while humans become junior assistants
“The super intelligence is going to be the boss. You're going to be the junior thing. And so and that's what he's, that's what these guys are talking about, Brian Halligan and Jack Dorsey, which is that actually there'll be like a central AI that's making the k…”
Shaan Puri predicts China's elite talent pipeline will outcompete US education
“Whereas if other countries are taking this idea of, like, your job is to produce talent quickly and early, and that, like, it's, the goal is greatness, and let's be competitive about it. Like, what's going to happen over a 20 year arc, right? Like, you're goin…”