“VCs are actually kind of surprisingly lazy on digging through the finances of these companies. I think because they know they're so messed up, they don't even care.”
The Peel with Turner Novak · Startups & Venture · October 2026
Siminoff is telling the story of an early Ring funding round, at the point where the documents were signed and the investors were about to wire the money. He had been waiting for them to notice something in the company's finances.
Transcript
And then, so then True Ventures was coming in, and I had to then tell them two things. Well, I basically had to admit that I bought this domain name, which I had not told them yet, um, because I didn't want them to know I bought a million-dollar domain name when they're like putting in a couple million dollars in the company, basically, like you know, a major part of it's going out to the domain name. And um, so I had to tell them before they wired, which was like like that was a little bit difficult.
Had you already signed all the docs? We
signed the docs, okay, and so they were like about to wire. And then I kept sort of being like, they had all our stuff, but like VCs are actually kind of like surprisingly lazy on digging through like the finances of these companies. I think because they know they're so messed up, they don't even care. You almost
like just don't want to know,
exactly. So, like, and I'm like, you know, like, oh, the wire is coming on, you know, Monday or Tuesday. And I'm like, okay, like, any chance it could come like Monday? And they're like, I think we can do Monday. I'm like, okay, great. Just because, like, you know, like, I have the our finance person's in the office on Monday. And so it'd be easier to accept. I'm like, literally just like talking, you know, whatever. Like, okay. Well, Tuesday's when payroll got pulled.
We didn't have enough
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