[Netbeing]

Not all VCs are equally (in)competent. I've always felt that one of the root causes of the ~2000 dot-com bubble was a proliferation of incompetent VCs chasing the glut of investment capital. Things seem roughly the same these days, or maybe even worse, since the eventual-rationality of the public markets can't come into play if there's no IPO.

[pen2l]

The first VC who backed Theranos is a pretty smart guy. Was first in his class at Stanford, has an otherwise pretty nice portfolio of companies he has funded

[erobbins]

My take on this is that theranos started out with good intentions, and just hasn't been able to make it happen so they are trying to buy time. The early stage investments were probably sound, but later rounds are a little questionable. Sometimes you have to know when to fail.

[majani]

First in a Stanford class can still turn out to be an incompetent VC who doesn't do due diligence

[pen2l]

The guy is still a winner though: https://en.wikipedia.org/wiki/Steve_Jurvetson

He's made more good investments than bad at the end of the day.