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I feel like we've seen this before. Young startup, visionary founder, boat loads of money, then after lots of money burned, outright lies, false claims, or at t
by Overtonwindow 11y ago
I feel like we've seen this before. Young startup, visionary founder, boat loads of money, then after lots of money burned, outright lies, false claims, or at the very least vaporware.
- Mimick 11y agoWait, but how the founder became a billionaire? I thought they are generating huge profit already...
- ksherlock 11y agoMake believe billionaire, based on Theranos having a $9 billion valuation, based on $90 million in VC investments.
- dnautics 11y agoCambrian Genomics?
- w1ntermute 11y agoHalcyon Molecular?
- dbcooper 11y agoBoth them and Theranos suffered the suicide of their technical lead ...
- learc83 11y agoThe funny thing is, this startup isn't that young. It's 12 years old. Someone basically gave a completely inexperienced founder tens of millions of dollars and over a decade to run an R&D lab.
- maxlamb 11y agohundreds of millions.
- Overtonwindow 11y agoOh wow good point, that's never happened before... /sarcasm To your point, longevity does not equal success. Twelve would make it 2003.. Before Facebook. Before the huge boom. Twelve years is a long time to be a "startup".
- PhantomGremlin 11y agoThese things come and go in cycles. Back in 1980 there was a startup that raised $230 million. That was, as they say, "real money" back in the day. Great pedigree. But, eventually, poof, gone. Nothing much to show for all the investment. https://en.wikipedia.org/wiki/Trilogy_Systems https://en.wikipedia.org/wiki/Trilogy_Systems