<story><title>The Berkshire Hathaway of the Internet (2017)</title><url>https://awilkinson.medium.com/the-berkshire-hathaway-of-the-internet-391a8ee83db</url></story><parent_chain></parent_chain><comment><author>sfobiab</author><text>Andrew Wilkinson recently took a company public in Canada through a reverse takeover &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;www.google.com&amp;#x2F;search?q=CVE:+WE&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;www.google.com&amp;#x2F;search?q=CVE:+WE&lt;/a&gt;&lt;p&gt;Very early in the life of the company they have undertaken some pretty dishonest accounting of their revenues, net retention and other key metrics. The CFO resigned after the first reporting quarter.&lt;p&gt;I have a strong feeling there is more to this character than just the recycling of virtue filled business models.&lt;p&gt;Buyer (seller) beware.</text></comment>
<story><title>The Berkshire Hathaway of the Internet (2017)</title><url>https://awilkinson.medium.com/the-berkshire-hathaway-of-the-internet-391a8ee83db</url></story><parent_chain></parent_chain><comment><author>salmonlogs</author><text>If the genius business model relies on trusting people because &amp;quot;we have tons of mutual friends&amp;quot; then its just friends of friends investing in each other. That is not even slightly comparable to Berkshire Hathway and shows a stunning level of naivety.&lt;p&gt;The typical process requires due diligence because there is no trust - there are a huge amount of dodgy businesses, sketchy owners and smooth talkers trying to extract cash from investors.&lt;p&gt;This model might work for a few years but inevitably requires moving further out of the trust network where deeper and further due diligence is required. Or, its not done and every deal will get worse quality and expose them to more risk.</text></comment>