One of my closest friends and I who work with global start-ups were recently bemoaning the apparent lost art of due diligence both from the perspective of investors and advisors alike. Billions of dollars are invested in start-ups, and even the largest venture capital firms have been misled by charismatic founders – as was the case both with Elizabeth Holmes and Theranos, and more recently with Sam Bankman-Fried and FTX. These VCs, PE firms, and family office leaders are very smart and sophisticated business people. A case could be made for the need to pay greater attention to due diligence in future. In this article I share my thoughts and approach to this important topic.
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Just want to dash something off here before tackling a more detailed post…
I would love to gather Due Diligence resources from various sources to amalgamate into a best practices document. Even better, we could design a Due Diligence Jam that could be used internally within a team and also to interview potential candidates / partners.
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will be curious to hear your insights on this at the next level when you have time for a more thorough response. Meantime, I think a Due Diligence Jam makes a lot of sense at a minimum (!).
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