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sam lessin 🏴☠️
If you are running a seed fund well / with balanced diligence and risk ... expect a 1% fraud rate. it happens.
18.7. klo 18.31
We asked @lessin about the mistakes he has made as a seed investor:
“So if you're an early stage investor, you're gonna have things you invest in that turn out to just be straight up fraudulent.
“Now you don't want that number to be too high, but, you know, for us, we probably run a 1% it's just fraud rate.”
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