[b0b10101]

it's still the theranos playbook, it's just a different image projected. and it still serves the same role - tapping into SV narratives and preconceptions to create an image that is super appealing to investors, the media and employees in order to spin up the hype flywheel, and excuse inconsistencies and misbehaviour. fundamentally both still took advantage of contrasting their traditionally inscrutable fields to contrast their highly visible images and paper over any skepticism.

either way the failing is the same - investors failed to preform adequate due diligence and lent their credibility to things they didn't fully understand because they were distracted by the charisma of the founder and were worried that they would miss potentially outsized gains. as long as large amounts of capital keep flowing to private markets (especially VCs) this will continue happening

[oldgradstudent]

> it's still the theranos playbook, it's just a different image projected

You unfairly group all types of fraud together.

Fraud is a creative endeavor, diverse and fascinating.

[AmericanOP]

Well as michael burry said, its ludicrous to think asset bubbles cant be predicted. One of leading indicators is an increase in the frequency and complexity of fraud within the sector.