Alternate narrative: Silicon Valley VC is actually a defense against this bullshit. Theranos and Fyre never would have gotten off the ground without dumb money from New York and Washington, and fauning coverage from New York/Washington media. Who will fund my documentary?
There's plenty of dumb money in the valley-- also Theranos. This hypothesis is probably correct if you only look at top fund by virtue of how few top funds exist outside of the bay, but I doubt it holds across the industry
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There’s certainly lots of smart and dumb money everywhere (the firm behind Fyre also funded Flatiron and a number of other great companies.) But seems like the SV-focused narrative doesn’t hold up to like...the actual investor list, which anyone can find now.
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