Mm, I am a pretty big fan of capitalism and innovation... but I still think that when we encounter cases of fraud (especially fraud that went undetected for years), we should update at least a little towards "the system doesn't work as well as we thought"
tbh, I assumed Theranos was an example of some dangerously gameable incentives in VC, at least in an environment flush w/ cash relative to the strength of the field... but someone pointed out that there actually wasn't much VC money in Theranos, & aside from DFJ mostly no-names
-
-
Agree Theranos doesn't reflect badly on Silicon Valley VC. I suspect it does reflect badly on other institutions, or parts of society (in the sense that the fact Holmes got away w/fraud for so long is a sign that *something* is working suboptimally), but too hard to say what rn
-
If a group of people know something is too bad to invest in themselves, but don't say anything and indeed defend the fraudster in public, that says something bad about them.
- 19 more replies
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.