[sage76]

"This is closer to the real root cause. Today's startup culture (and the nature of the VC game) incentivises "faking it", delusional over-confidence, and pseudo-idealism that crashes into reality in an ugly fashion."

Does it? Theranos has been running for 13 years, raised more than $400 mn, and has a multi-billion dollar valuation. While it may be crashing now, I know a few hucksters who managed to raise huge amounts of funding and then blew the company out while taking generous salaries for themselves. Maybe the scandal at Theranos permanently taints Elizabeth Holmes' name, but from the point of view of a huckster, she made out like a bandit, and maybe the only mistake she made was not filing for IPO and completely cashing out.