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Where did all the Theranos money go and did they actually do 'work' ?

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floobydust:
Theranos, Fyre Festival, Nikola Motors etc. did one thing all these "tech" scams do.
Defy the Laws of Physics - the time required. The speed limit of tech is what investors, SPAC's etc. are all pushing up against nowadays. There's billions $ out there but the crop takes time to grow.
If you don't have any money, sell a fantasy, some product yet to be made. Pre-sell, get orders before you have anything tangible  :palm:
(a festival is not tech but professionals knew these events take years of planning (and an island with space, sewer, water, facilities, no sharks) yet the whole thing ripped along faster than feasible).

With technology, that's an expected ("the schedule") failure because large portions of it are non-deterministic. How long to invent that tech? When will it be ready? You can't know or forecast it.
Compare with manufacturing. Making a Big Mac, scheduling that is easy. All the parts are known, in stock and just a delay to cook the pattie and assemble the burger.

I once told an old boss, "you could put 100 engineers on the project and it wouldn't go any faster". Himself, exec's business MBA types just don't understand why they can't clap their hands and tech projects miraculously speed up as they "push the engineers".

Ed.Kloonk:

--- Quote from: MasterTech on May 27, 2021, 03:08:59 am ---
--- Quote from: Alex Eisenhut on May 27, 2021, 01:12:19 am ---Where did the money *go*? I'd like to know where it came from in the first place, I have lots of ideas that don't work!

--- End quote ---
Welcome to the world of startup funding, where what matters is how good your PowerPoint presentation is and how well you lie, how much social attraction you gather via emotions not rationale. Investors don’t know about technology so they can be easily fooled

That is why Holmes first found support in a few key people, then the rest come join in a similar manner to how people join someone looking alone to a building window in the street, eventually to form a crowd.

Most people don’t think rationally, they just follow the rest via emotions.

--- End quote ---

Yes. The was indeed a bit of FOMO there. (Fear Of Missing Out)

A bigger paradox is facing the prosecutors. There are a lot of people who lost a lot of money and the law men do want to throw the book at her.

But, big billionaires are secretly wishing this would all go away quietly because it is embarrassing that they got hoodwinked and it's not like incarcerating Holmes will get them their money back. They should have known better not to eat a bullshit sandwich.

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