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Matt Levine

The Unicorns Are in Charge Now

Also Deutsche Commerz, AI directors and blockchain Enron.

As a former investment banker, I was pleased to read this:

I once spent a lot of time flying around showing corporate executives pages filled with logos from big deals that my bank had worked on, to signal our credibility and experience. But, you know, I was trying to get them to write me a check. I was trying to sell them on an expensive service, and they had to be convinced that we could do the service, and showing them the logos of satisfied customers is the conventional way to signal that. It is pleasing that, when venture capitalists go around asking to write checks to startup founders, the founders want to know: Well, how much experience do you have writing checks? What really good checks have you written?