But Holmes is a near-optimized version of this & she’s just... not... the end of the world? You can’t easily do this w/ a software product, people expect an iterable thing to play with. And the problem w/ a fake physical product is that at some point people say “OK, where is it?”
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I guess I just have a fundamentally different model for how that world works. If you run a diff on "what VCs are saying" + "what VCs are doing," you get a combo of wait-and-watch positioning w/ cautious optimism & some trendy BSing that the public demands. Which is fine, IMO
I just don't see how Theranos *isn't* a good example of circle-jerk messaging NOT ultimately having a big impact on smart money. I think you're **heavily** discounting something that on the priors is pretty incredible, a hot tech co w/ a multi-$B valuation & almost no VC backing
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But if the defence mechanism against fraud is "the geniuses who brought you Groupon are simply too smart to be fooled", that's exactly what I'm worried about; there's no institutional defence at all.
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Yep, we are definitely not on the same page.
End of conversation
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