I just think there's a huge mismatch between her "strategy", if you want to call it that, and the instrument she's using to execute it. She's supposed to provide investors daily liquidity, yet she's loaded up on highly illiquid, unprofitable companies where she herself has often been the source of liquidity through her outsized purchases. If redemption pressure continues and she exhausts her more liquid, higher quality positions (like her liquidating Apple yesterday), you could see a pretty spectacular cascade as she starts dumping into the void. Moreover, as she sells the higher quality stuff, it becomes more apparent to her investors that they're holding a bag of odious excrement and they all try to get to the exit..
EDIT: Oh, I forgot to mention the fact that Cathy buys her own funds. That cross-seeding is a giant red flag IMO.
EDIT EDIT: Also, by far her largest position >10% is possibly the bubbliest asset in her whole portfolio