You can take Thaler Fund, the Liechtenstein-based venture capital firm, at its word. At least, that's the view of Cathal Morrow, who – inspired by 18th century German philosopher Immanuel Kant's argument that lying is morally wrong – spent a year avoiding telling fibs.
Following this experience, he is writing a book about it called The Complete Kant.
In order to finance his period spent putting pen to paper (in return for a share of future revenues), he struck a deal with Thaler. “Struck” being a key word – the deal was not signed. “My book is about honesty and truth,”said Morrow in a statement. “I trust the Thaler Fund team and they trust me. We have established the details of our relationship so a verbal agreement is enough.”
So, what are the chances of other venture capital and private equity firms following suit and opting for verbal, rather than written, agreements in future? In all honesty, we think they're rather slim.