Due diligence is too timely and expensive

posted by entrepreneurtim , 277 days ago , show insights

Due diligence is the process of conducting an investigation, review, or audit to verify facts and info about a particular subject.

Often due diligence is done in the business world to verify a business's value or economics. Usually investors, businesses, and governments will do due diligence to get a full picture on a company or person.

However many startups, private investors, or under-resourced organizations cannot afford or don't have the time to manage a thorough due diligence investigation.

Many internet companies sold through online marketplaces end up being scams or have fraudulent revenue or profit numbers.


Ex: JP Morgan Chase getting scammed for$100+ million dollars, simply because of bad, biased, or non-existent due diligence.
https://www.theverge.com/2023/4/5/23671000/jpmorgan-frank-fraud-fintech-startup-ceo-javice-charged-student-financial-aid

Major fraud cases like Theranos, Nikola, and FTX are simply a result of bad or non-existent due diligence.

We need a quick, thorough, and affordable way to conduct due diligence for private investors, startups, buyers, and more.
WHO NEEDS THIS
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