All posts tagged: due diligence

7 takeaways from marathon Mandelson vetting hearing – POLITICO

7 takeaways from marathon Mandelson vetting hearing – POLITICO

Published by Sam Flores

Early in the hearing, McSweeney told MPs that he “didn’t feel” he had got the whole truth back from Mandelson in those three answers. This would be political dynamite, given Starmer pressed ahead anyway. But later in the hearing, McSweeney corrected himself — saying he acquired these doubts in September, after it emerged Mandelson had been better friends with Epstein than he let on (“it was like a knife through my soul”). “I didn’t think he had lied [at the time]. I thought he had told the truth, and that was the basis of which I thought we were going ahead,” said McSweeney. “But I also thought if I was wrong, if he had been lying … that might be picked up at [developed vetting].” In other words, each part of the system was relying on the other to make a judgment call. Barton, too, said he was “worried” about Mandelson’s Epstein links and expressed reservations to No. 10 National Security Adviser Jonathan Powell, but added: “There was no space or avenue or mechanism for …

7 reasons Starmer can’t shake off the Mandelson vetting saga – POLITICO

7 reasons Starmer can’t shake off the Mandelson vetting saga – POLITICO

Published by Sam Flores

Starmer announced Monday that he had commissioned a review into any security concerns raised during Mandelson’s tenure. That in itself means the scandal could deepen.  MPs are also asking about just how high a level of top secret documents Mandelson was allowed to see under Britain’s “STRAP” protocol. Access to these highest-level documents is complicated and varies case by case, with each one having an assigned “compartment” of people who see it on a need-to-know basis. Therefore we may never find out what Mandelson saw. 7) What else is waiting to come out? One row that dominated Monday shows anything can come out of left field and disrupt the prime minister’s plans. This time it was a memo to Starmer in November 2024 from former Cabinet Secretary Simon Case, already released by the government weeks ago but not widely seized upon. It recommended Starmer should let civil servants obtain security clearances, due diligence and flag any other issues “before confirming your choice” of ambassador. MPs bombarded Starmer with questions about the Case memo. He had …

Police gear up to interview high-profile witnesses over Peter Mandelson – POLITICO

Police gear up to interview high-profile witnesses over Peter Mandelson – POLITICO

Published by Sam Flores

As is standard in a British police investigation, the force has not disclosed who it would question as a witness, and being questioned as such would not imply any wrongdoing. The Metropolitan Police declined to comment on an ongoing investigation. Prime Minister Keir Starmer has faced scrutiny over what Mandelson said during the process that led to his appointment as ambassador to D.C., and has claimed he was misled by the veteran Labour politician during that process. There is little precedent for interviewing a serving prime minister as a witness, although Tony Blair was in 2006 questioned by police as a witness in a criminal probe during the “cash-for-honors” scandal. In 2022 Boris Johnson answered a police questionnaire under caution over coronavirus lockdown-breaching parties in government. Police are likely to have multiple leads to pursue before taking such a sensitive decision. Whether to interview Morgan McSweeney, who as chief of staff advised Starmer over Mandelson’s appointment as ambassador, is under active consideration. The powerful adviser resigned from the role as scrutiny over the appointment process …

Here is what the Mandelson files reveal — so far – POLITICO

Here is what the Mandelson files reveal — so far – POLITICO

Published by Sam Flores

Mandelson also revealed his U.K. return date was set back because of delays in obtaining a veterinary certificate for his pet dog, Jock. Mandelson’s positive views on Nigel Farage were flagged A suggestion from Mandelson that Reform UK leader Nigel Farage could be used to improve U.S.-U.K. relations was flagged as another “reputational risk” for the government. In the lengthy “reputational risks” section of the Cabinet Office’s due diligence checklist on Mandelson, carried out before his appointment, the ex-ambassador’s views on Farage are listed along with his links to Epstein. “Has suggested using Nigel Farage to better U.K. connections with the Trump administration,” reads the vetting document, which was presented to Starmer on Dec. 11, 2024.  It includes a quote from Mandelson while speaking on a Times Radio podcast in November 2024 — and noted that his position contradicted the Labour government’s stance. It goes on: “Mandelson quoted saying of Farage, contrary to [U.K. government] policy: ‘You can’t ignore him, he’s an elected member of parliament. He’s a public figure. He’s a bridgehead, both to President Trump and to Elon Musk and others … …

DiligenceSquared uses AI, voice agents to make M&A research affordable

DiligenceSquared uses AI, voice agents to make M&A research affordable

Published by skeptic

A typical merger-and-acquisition process is time-consuming and expensive, even for the largest, well-staffed private equity firms. In addition to spending countless hours meeting with senior executives of potential targets and modeling financial outcomes, these groups spend millions of dollars on external advisers: accountants, lawyers, and management consultants. Since expenses for external advisers are not reimbursed if a deal falls through, PE firms wait until they are certain of their interest before engaging costly specialists such as consultants from McKinsey, BCG, or Bain to perform extensive commercial research on the market and the target company. DiligenceSquared, a startup that was part of YC’s Fall 2025 cohort, says that with the help of AI, it can provide top-tier consultancy-quality commercial research at a fraction of the traditional cost. The startup’s co-founders, Frederik Hansen and Søren Biltoft, possess deep expertise in private equity due diligence. Hansen was formerly a principal at Blackstone, where he commissioned these reports for multiple billion-dollar buyouts. Meanwhile, Biltoft spent seven years in BCG’s private equity practice leading these types of diligence efforts.   …

Cluely CEO Roy Lee admits to publicly lying about revenue numbers last year

Cluely CEO Roy Lee admits to publicly lying about revenue numbers last year

Published by skeptic

The $7 million in annual recurring revenue that Cluely co-founder and CEO Roy Lee shared with TechCrunch last summer was a lie, Lee admitted on Thursday on X. Wrote Lee, this “is the only blatantly dishonest thing i’ve said publicly online, so this is my formal retraction.” Yet his post on X also misrepresents the backstory of how and why he told TechCrunch his ARR in the first place. Lee says in that same post that he “got a random cold call from some woman asking about numbers and told her some bs, did not expect an article about it.” But that call occurred because Cluely’s public relations representative emailed TechCrunch and offered to make Lee available for a story. On Friday, Jun 27, 2025 at 8:38 a.m., Cluely’s PR person sent an email to TechCrunch reporter Marina Temkin that said, “I’d love to arrange an interview with Roy. Whether for a deeper dive into Cluely’s next phase or a fresh angle on his vision, we’d be happy to make it happen.” Temkin agreed. The PR …

Police ask UK government to hold back key Mandelson email exchange about Epstein – POLITICO

Police ask UK government to hold back key Mandelson email exchange about Epstein – POLITICO

Published by Sam Flores

Starmer has said Mandelson “repeatedly lied” to No. 10 about the extent of his friendship with Epstein — but the paper trail that would show what Downing Street knew, and when, remains caught in a tussle between police and the government. The prime minister has faced questions about his judgment in giving Mandelson the plum role, despite knowing he had continued his friendship with Epstein after his conviction, and has pledged transparency over the decision — which will be complicated by efforts to hold back key exchanges. The scandal has already cost the job of McSweeney, one of Starmer’s most senior allies, after he pushed for Mandelson’s appointment. Keir Starmer has said Mandelson “repeatedly lied” to No. 10 about the extent of his friendship with Jeffrey Epstein. | Carl Court/Getty Images MPs voted earlier this month to release documents relating to Mandelson’s appointment as ambassador, as well as a much wider cache of emails and text messages between Mandelson and ministers and political advisers in the ruling Labour Party. While the total cache amounts to …

Mandelson crisis puts Starmer in his moment of greatest peril – POLITICO

Mandelson crisis puts Starmer in his moment of greatest peril – POLITICO

Published by Sam Flores

Left-wing former Labour Leader Jeremy Corbyn, long cast out of the party over comments on antisemitism, went on Sky News to say Starmer may even be challenged before local elections, which will be held across the U.K. in May. Others were new converts to immediate action. A fifth Labour MP, a moderate who entered parliament in 2024, also said McSweeney should go now. They lamented the “blind spot for many in the leadership” who allowed Mandelson to become ambassador. It has left some MPs angry and dejected. One, Sarah Owen, made an impassioned intervention in Wednesday’s debate: “Don’t we need to put the victims at the heart of this, not just ourselves?” But they will have to wait if they want the facts behind the case to become clear. MPs agreed on Wednesday night to release a series of documents concerning the diligence and vetting around Mandelson’s appointment, as well as communications he had with McSweeney, ministers, civil servants and special advisers in the six months before his appointment. Starmer had intended to block the …

Mandelson ‘lied repeatedly’ and I have documents to prove it – POLITICO

Mandelson ‘lied repeatedly’ and I have documents to prove it – POLITICO

Published by Sam Flores

The PM said he wants MPs to see “the full documentation,” and “the extent to which … time and time again Mandelson completely misrepresented the extent of his relationship with Epstein, and lied throughout the process — including in response to the due diligence.” Mandelson will also be stripped of his membership of the Privy Council — a group of senior public figures who traditionally advised the monarch, who can use the title “right honourable,” Starmer said. Earlier Wednesday Health Secretary Wes Streeting said the prime minister will release information into the public domain about how Mandelson was appointed, his correspondence with ministers and his subsequent sacking last September his friendship with convicted sex offender Jeffrey Epstein. Starmer’s judgement in appointing Mandelson to the key Washington post has been called into question by his political opponents, and some of his own MPs. “There is no doubt that the prime minister’s judgment is being called into the sharpest question at this moment,” said Alex Burghart, a Conservative shadow Cabinet minister, said. “It is becoming harder to …