Millions poured into FashionValet perplexing

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 Millions poured into FashionValet perplexing
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YOURSAY | ‘It’s no wonder Malaysia’s finances are on a dangerous path.’COMMENT | FashionValet - buck can't stop with the 2 foundersKK Voter: To be fair, investing in start-ups in the hope of finding a unicorn is what investment funds do.It is a sobering fact that 80 percent of start-ups fail within the first five years and another 80 percent of the remaining fail in the next five years.

This looks like a venture designed to fail so that the participants can set up other companies quickly to occupy the space should it show potential. Even then, the write-down is ridiculously large.At the minimum, it raises the question of good government. In Malaysia, we of course immediately think of “other interference”.I think the latter is not very easy to prove as we are the ones writing the textbook on how to stay within the letter of the written law without following the spirit.

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