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@brad_brexton @techbromemes Oh someone watched to the end of Wedding Crashers? Cute.

Networking doesn't stop just because someone died. My uncle's funeral was honestly a masterclass in lead generation. There were at least forty high net worth individuals crying in one room. That's a captive audience. I slipped my pitch deck into the programs. The eulogy was going a bit long so I seized the microphone to pivot the narrative. I reminded everyone that while Uncle Greg's biological server shut down, his legacy could live on in our seed round. My cousin punched me in the face. A clear sign of market resistance. I still walked away with two term sheets.

This post seems a little tone deaf with the full on meltdown in the YC slop startup ranks, starting with the completely fraudulent Delve. It’s beyond comprehension how these clowns passed any diligence whatsoever unless there was intention or potentially worse, incompetence. Under Gstack’s watch.

@kobyjconrad Oh, good there is a Delve customer to defend them. Wait, never mind, just defending the YC circular flow of money.

Just a PSA we use Delve. Delve does EXACTLY what EVERY other company in this space does, they provide a checklist and help you automate your compliance. WE are still responsible for our security. Not Delve. This industry is shady AF and this anon is 100% a competitor 🫡

@WallStreetApes @Ryan4Tesla7 Today I realized Industry is a documentary.

This is absolutely insane Journalist Angela Rose investigates Minnesota Rep Ilhan Omar’s consulting headquarters who claims to manage $60 billion in assets She goes into the building, walks every floor They DO NOT EXIST. (Holy Sh*t) “We are going to be infiltrating Ilhan Omar's sketchy consulting headquarters that claims that they have $60 billion in assets under their management. Yet they are located out of a co-working place called WeWork. This company is called Rose Lake Capital and it is co-owned by Ilhan Omar's husband Timothy Manette. And similar to the winery in 2023, it made up to $51,000 and it had a sudden and very suspicious increase in net worth up to $30 million in 2024” “I walked by every single office in this building and everyone has their logos proudly displayed on the wall. I asked around for Rose Lake Capital and people were not familiar with it. I looked at every logo and Rose Lake Capital did not have an office here.”

@bumbadum14 The best picture this guy can take and it’s just him smelling himself and even he can’t stand the stench.

You’re telling me that a guy named Karun would make a scam startup? You’re telling me this just now?

@___4o____ Rumor has it that H1Bs never say no to the sauna invite.

What is YC’s obsession with creating companies that are just Indian scams? Delve had 6 H1B visas approved btw.

@paulg The circularity of man(made startups).

I'm very impressed by the way Phind, despite being the tiniest of startups, has managed to keep up with the giants. Phind-70B beats GPT-4 Turbo at code generation, and runs 4x faster. There is definitely still room for startups in this game.

@ctjlewis The real crime here is they weren’t using Garry’s Gstack.

I’ve heard enough. Everyone is clearly just mad they didn’t get into YC.

@mil0theminer It turns out he was shipping Garry Tan quality LoC.

3rd all nighter of what? Compliance??? I don’t want my security company shipping 3am code

@karunkaushik_ Doesn’t this just make this guy a paid actor then since you all decided not to do any actual compliance? Looks like it’s time to investigate Apple.

Meet Varun Gurnaney, Head of Enterprise GRC Product at Delve, who was formerly Apple’s lead compliance engineer.

@HerbsandDirt @populusaigeiros Oh wow that sounds expensive lmao

Just paid $85 to fill up a Toyota Camry. Not a truck. Not an SUV. A freaking CAMRY. Buckle up.

@LMcQueen33 @jworl36 @PearceBurner @pashadelics You can’t even articulate coherent thoughts dude, just shut the fuck up already. You’re spouting off popular talking points and pretending to be informed with the grammar of a toddler. Thanks for the reminder that the distribution curve is undefeated. And good bye forever.

@AsyncCollab @jworl36 @PearceBurner @pashadelics If you don’t give a fuck about “whatever the fuck a Zionist is” then you should clue in because they’re running our country between Jews and evangelicals and they just got us into a catastrophic war. So maybe try yapping less and learning more.

The USA is 250 years old this July and instead of launching a Lincoln/FDR scale rejuvenation of the country for another 250 years of glory, has instead chosen to vindicate every theorist of cyclical history by self-detonating the empire right on the semiquincentennial mark.

@leadlagreport I’m not reading your ChatGPT conversation dude. Stop the AI psychosis. This is unbecoming and embarrassing.

Everyone. Please. Read this. And show support by reposting and sharing it to everyone you know.

@VCBrags @ohryansbelt @asemota Dude’s smelling a freshly ripped ass and it turns out she’s the one ripping.

@ohryansbelt @asemota 30u30 never misses

Delve, a YC-backed compliance startup that raised $32 million, has been accused of systematically faking SOC 2, ISO 27001, HIPAA, and GDPR compliance reports for hundreds of clients. According to a detailed Substack investigation by DeepDelver, a leaked Google spreadsheet containing links to hundreds of confidential draft audit reports revealed that Delve generates auditor conclusions before any auditor reviews evidence, uses the same template across 99.8% of reports, and relies on Indian certification mills operating through empty US shells instead of the "US-based CPA firms" they advertise. Here's the breakdown: > 493 out of 494 leaked SOC 2 reports allegedly contain identical boilerplate text, including the same grammatical errors and nonsensical sentences, with only a company name, logo, org chart, and signature swapped in > Auditor conclusions and test procedures are reportedly pre-written in draft reports before clients even provide their company description, which would violate AICPA independence rules requiring auditors to independently design tests and form conclusions > All 259 Type II reports claim zero security incidents, zero personnel changes, zero customer terminations, and zero cyber incidents during the observation period, with identical "unable to test" conclusions across every client > Delve's "US-based auditors" are actually Accorp and Gradient, described as Indian certification mills operating through US shell entities. 99%+ of clients reportedly went through one of these two firms over the past 6 months > The platform allegedly publishes fully populated trust pages claiming vulnerability scanning, pentesting, and data recovery simulations before any compliance work has been done > Delve pre-fabricates board meeting minutes, risk assessments, security incident simulations, and employee evidence that clients can adopt with a single click, according to the author > Most "integrations" are just containers for manual screenshots with no actual API connections. The author describes the platform as a "SOC 2 template pack with a thin SaaS wrapper" > When the leak was exposed, CEO Karun Kaushik emailed clients calling the allegations "falsified claims" from an "AI-generated email" and stated no sensitive data was accessed, while the reports themselves contained private signatures and confidential architecture diagrams > Companies relying on these reports could face criminal liability under HIPAA and fines up to 4% of global revenue under GDPR for compliance violations they believed were resolved > When clients threaten to leave, Delve reportedly pairs them with an external vCISO for manual off-platform work, which the author argues proves their own platform can't deliver real compliance > Delve's sales price dropped from $15,000 to $6,000 with ISO 27001 and a penetration test thrown in when a client mentioned considering a competitor

@TimurNegru Just a million dollars a year to maintain the property.

69 acres of private Tuscany for €690k ($797k). The land includes an olive grove, a fruit orchard, a cork oak grove and 20 hectares of woodland. A natural spring produces 3,000 litres of water a day, solar panels cover the electricity and yes, it does have wifi. It's also been renovated, 370m² (3,983 sq ft) across 3 floors, 3 beds, 3 baths, with a pool and a sauna. 50 km to Volterra. Off-grid, self-sufficient, sauna, pool..what's missing here?

@ivanburazin Well this clearly isn’t Salesforce then. Or it’s Salesforce and they are making shit up. Big gap between intention and execution capability.

Recently met the head of product at a SaaS with a $100B+ market cap. They're building a headless version of their flagship product specifically for agents. Not the cloud version with a UI. Actual infrastructure level APIs that agents can call programmatically. Imo, this is a far more accurate evolution of traditional SaaS than the current SaaSpocalypse BS.

@NickNemo17 You laid it out well. There are many layers to the shell game that keep it all moving.

@AsyncCollab lol yes. I hope more people see the “adjusted EBITDA multiple” like and know. Could’ve laid that out better

TLDR: I am a recovering alcoholic with no fund, no credentials, and no lobbyist. I rebuilt myself from nothing. Then I broke into finance with no degree, no pedigree, and no permission. I parsed SEC filings for a $31.5 billion private credit fund called Cliffwater. Not because anyone asked me to. Because nobody else would. The filings are public, but they are buried in footnotes that are not indexed, not searchable, and not structured for analysis. I have been told by fund managers that nobody even attempts this. Billions of dollars in pension capital, and the people who manage money for a living do not bother to read the filings. So I read them. Every loan. Every amendment. Every semi-annual PIK disclosure. 2,330 positions. I hand-researched fifty. I found 189 loans where borrowers are paying interest with more debt instead of cash. I found over 50 loans that are not generating enough cash to service their debt at all — carried at par on the books of a fund that has never reported a losing month in 41 months. The fund's Sharpe ratio is 3.75. Bernie Madoff — who was fabricating returns and could pick any number he wanted — ran a 3.5. He got caught because the numbers were too smooth by Markopolos. The greatest quant fund in history, Renaissance Technologies, runs a five or six. Cliffwater is claiming risk-adjusted returns that would be impossible even if you insider-traded with perfect information every single time, because the volatility of the underlying markets would still prevent it. Nobody asked questions. Bloomberg confirmed 14% redemptions 48 hours after I published. S&P cut the fund's outlook to negative this week. Cash on hand fell 76% in six months. This is not an isolated fund. This is the structure. $9.4 trillion in private equity. $3.5 trillion in private credit. They all pay their own valuation agents. The valuation agents decide what the funds are worth. No valuation agent has ever been fired for saying the number was too high. The marks produce the NAV. The NAV produces the fees. The fees come from pensions. The pensions come from firefighters and teachers and nurses in Oregon and California and Illinois who will never read a private placement memorandum in their lives. Wall Street ran out of rich people. The endowments were full. The sovereign wealth funds were tapped. So they went downstream — to 401(k)s, to retirement accounts, to interval funds sold to people who have no idea what they own. 1. Direct the SEC and FSOC to examine Level 3 fair value practices across interval funds and BDCs. 2. Require that valuation agents be independent of the funds they mark. 3. State publicly that the current self-marking regime creates systemic risk. 4. Mandate position-level mark disclosure for every fund that accepts pension capital. There are two ways this ends. It breaks all at once like 2008 and we fix it. Or it rots slowly like Japan: one fund blows up, six weeks of quiet, another one, and nobody connects it for a decade while a generation of retirees gets destroyed. I am not asking anyone to take my word for it. I am asking them to read the filings. If you know someone in the administration, a regulator, or anyone on a legislative committee, please send this to them. One person learned this from a one-bedroom apartment. Your government can too. The will is what is missing.

@Tim_Walz Tim Walz the fraudster, go to jail you fat little bitch.

The White House is cutting off $250 million for Minnesotans health care.

@EnergyPeddler Always were.

Jesus are we really about to send WTI back into the 80s