TechCrunch+ Roundup: How VCs spot liars, venture debt basics, getting legal help (without going broke)

Social app IRL shut down in June, but SoftBank — which led the platform’s $170 million Series C in 2021 — is now suing the company for $150 million.
IRL told the world it had 20 million monthly active users, but an internal investigation later revealed that 95% of them were fake. According to SoftBank, those “impressive user numbers” encouraged them to invest, hence the fraud lawsuit.
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Because “younger startups are now increasingly g

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