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Is There a Way to Fix Auditing?
The audit regulator that was put in place by the sarbin axley act 20 years ago had been, was completely discredited by this scandal. The bigger problem is that sophisticated investors don't give a rats ass about audit. And we saw that in thoranos. K p m g came in, thought they were going to do an audit. There was disagreements about stock aption expense. They basically blew it off. So you have investors, sophisticated investors, that are willing to put hundreds of millions, billions of dollars in these start ups. All they want is what is the hype? What's the revenue growth? When can i get out? How can I get out?