Sequoia Capital partners failed in bidding for auction

After the judge today convicted SBF of seven counts of fraud, Alfred Lin, a partner of Sequoia Capital who participated in the early financing of FTX, posted on Twitter "asking for auction" and expressed to the community that Sequoia Capital is not without goodwill. I did my due diligence, but was deceived by FTX.

"Today's swift and unanimous verdict confirms what we already knew: SBF misled and deceived many people, from customers and employees to business partners and investors, including myself and Sequoia Capital. Immediately following the collapse of FTX, we After reviewing our due diligence process and evaluating our 18-month relationship with SBF, we concluded that we were "deliberately misled and deceived" during the prosecution's case and throughout the trial. We have to remain silent. We are happy that the trial is over."

Today’s swift and unanimous verdict confirms what we already knew: that SBF misled and deceived so many, from customers and employees to business partners and investors, including myself and Sequoia.

— Alfred Lin (@Alfred_Lin) November 3, 2023

However, the community doesn’t seem to buy into Alfred Lin’s “photo-seeking” community. CEHV partner Adam Cochran said on the social platform that he likes Sequoia Capital, an A-class company with a good record. However, apart from the false statements made by Alameda before bankruptcy, FTX or FTX did not seem to be mentioned in the entire trial. Alameda had forged documents and had no idea what Sequoia Capital was misled and deceived by.

Even Liu Feng, founder of Lianwen and partner of BODL Ventures, posted an article on X suggesting that Alfred Lin should not transfer responsibility, but that it would be more practical to find problems within himself.

It might be better for us to look for the faults in ourselves. https://t.co/JapMawjfYv

— Feng Liu (@fishkiller) November 3, 2023

SBF article was uncovered again

In addition, after Alfred Lin posted the article, the community once again uncovered the character profile written by Red Shirt Capital for SBF one month before FTX went bankrupt - "SBF has a savior sentiment, maybe you should too" to ridicule How ridiculous is Red Shirt Capital’s so-called “due diligence”.

In this article, Sequoia Capital described the situation when communicating with SBF. At the time, SBF said when introducing the so-called super app (FTX):

“I want FTX to be a place where you can do anything with your next dollar. You can buy Bitcoin. You can send money in any currency to anywhere in the world, you can buy bananas. You can Do anything with your money in FTX.”

Then, the partners at Redshirt Capital footed the bill, giving SBF a perfect ten. Ramnik Arora, the former head of product at FTX, later revealed to Redshirt Capital that in fact, the entire SBF meeting was playing "League of Legends". Perhaps because FTX was at its peak at the time, Sequoia Capital wrote this as an anecdote. was included in the article to highlight what makes SBF unique, but in hindsight it is particularly ironic.

Many people in the community quoted this article to mock Sequoia Capital:

"Wow! It turns out that the DD process of top VCs is the same as mine."

"As long as it can buy bananas, can it be considered a 'super app'?"

This article, a partner of Red Shirt Capital said that it was maliciously misled by FTX; the community retold old articles and ridiculed: If you can "buy bananas", you can pass due diligence. It first appeared on Zombit.