Interesting snippets from this piece,
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Decades ago, Bob Dylan asked, “How many times can a man turn his head and pretend that he just doesn’t see?”
The answer, my friend, isn’t just blowin’ in the wind. The answer is that when there’s no limit to how much money professional investors can get paid to do so, there’s no limit to how many times they can turn their heads.
https://www.wsj.com/articles/ftx-investors-due-diligence-11668736585?mod=djintinvestor_t
Just as macroeconomic factors outside of tech companies’ control made them superstars at the start of COVID, macroeconomic factors outside their control arguably present their biggest threat now.
The tech-cession isn’t likely to have as big an impact as people on big tech platforms make it out to be—but just because companies are headquartered in Silicon Valley doesn’t keep them in a walled garden separate from the rest of the economy.
“The real world is pretty simple: build useful stuff that makes money. So far, crypto has been a series of increasingly more elaborate ways to move the same money between different people, with an ever-increasing chance that your cash gets Thanos-snapped.”
Still bullish 
https://twitter.com/business/status/1595172217268371456?s=20&t=ItHbzQfE6fY9TnxL4houXA
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Read this article, I don’t know if it was already posted. Good one. Wanted to share.
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I think FTX saga will not change much with risky VC bets. With power law at play, the north star for VCs is to not miss out on outsized returns against avoiding write offs. Most VC funds will tell you how 1 or 2 of their portfolio companies returned 10x the invested amount, and hence the race is to maximize the opportunity to have such a company. Avoiding risk is not really an option for them.
However, due diligence could be better, but thats easy to say in hindsight. Most due diligence includes reviewing documents and financial models provided by the company, and becomes tricky to do a deeper dive unless anyone is willing to spend time. And this becomes even trickier when competing with other funds. So yes, greed, competition for deploying capital last year probably led to so much money being poured into FTX. 
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Agree, it might be hindsight bias, but i have been watching SBF’s past interviews on youtube and something is off about him. The way he most of the times avoids the questions. Well then as you said,
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This piece is also really nice. Just some of the basics and lessons from this whole FTX episode.
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This article shows the importance of consistency while investing in markets.
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