Paul GrahamVerified account

Did a little bit of googling but couldn’t find the details. It seems like your point is generally accurate that the vast majority of the $1BN+ Theranos raised wasn’t from Silicon Valley, but the DFJ early investment may have been viewed as an endorsement of those later rounds

The investors up until 10 or so were more typical SV investors -- Tim Draper, Larry Ellison, and Don Lucas, who was chair of the board for some time. Sunny came in with his own money in 09.

In Theranos' earliest SEC filing, "Draper Fisher Jurvetson Fund VII, L.P." is listed as a Beneficial Owner. It undercuts your argument that Silicon Valley firms weren't fooled. They were.

A single investor in the earliest round is the closest you can get to zero. And the fact that even this investor didn't participate in later rounds is a clear signal for those who understand it.