[boeingUH60]

The sole aim of this company was to extract money from investors...somehow, they managed to raise $500mn, $159mn of which went to the founders for selling secondary shares [1].

I really don't understand people like this. It's far easier to build a serially unprofitable business and cash out your shares...ask Adam Neumann, Travis Kalanick, and the GoPuff founders. Just don't lie to investors, pretend you're building something real at least.

1- https://www.wsj.com/articles/former-outcome-health-executive...

[throwway120385]

Intellectual Ventures is a good example of this but in the hardware space. Products that are perpetually on the cusp of release are a good source of funding I guess.

[rchaud]

They went Ozy Media when they should have gone WeWork.

[pinkfairy10]

It’s easier to commit fraud than start a unicorn tech company. How can you not understand that?

[JeremyNT]

He did the "hard" part of this, which is getting investors. It didn't matter whether the business failed at that point.

If he'd just failed without the deception he could have collected his golden parachute, then gone on to keep failing at new startups for an indefinite amount of time.

[ghaff]

But you don't go to jail for failing to start a unicorn tech company so long as you don't do anything illegal.