Rising interest rates, and lessons learned, will make investors think twice before taking big risks on unproven founders.
Another season rounds the corner with another young tech founder accused of fraud. This time it’s Charlie Javice, who like others before her graced magazine covers and 30 under 30 lists with a compelling origin story and the promise of a better world, and was rewarded with many millions of dollars. Now JPMorgan Chase & Co. is accusing her of making up customers as part of a massive fraud when they acquired her college financial-planning site, Frank.
Continue reading the piece here at Bloomberg Opinion (paywall)
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Allison Schrager is a senior fellow at the Manhattan Institute and a contributing editor of City Journal.
Photo by Sergey Dolgikh/iStock
