Most of the reporting about Pacific Coin seems to imply that Pacific Coin was Simon's basic responsibility, and he was either a hands-on owner who failed, or a neglectful owner who failed - with him losing each way.
Actually, the documents make clear that his family - not even him personally - was not meant to be a hands-on owner, delegating responsibility to Hinderlang. I strongly suspect Hinderlang himself encouraged the fatal mergers; he certainly didn't vote against them. His actual behaviour is entirely consistent with someone looking forward to an IPO, and inconsistent with any other behaviour.
Venture capitalists generally introduce a management team to a venture, and are hands-off after that; they are busy finding new ventures. But the accounts in the press make you think they're neglecting Pacific Coin and instead going out in their jet on a Carribean vacation on their yacht. Sadly, this just isn't so.
So yes, I believe there is an appalling ignorance on the part of the public. Unfortunately, I don't know how fixable it is, since I think the public's interest in the details is pretty low.
D
So yes, I believe there is an appalling ignorance on the part of the media. Unfortunately, I don't know how fixable it is, since I think the media's interest in the facts is pretty low.