The more money that gets put into a company the more Confirmation Bias / Social Proof comes into play. Why would investors put so much money in if they didn't d

The more money that gets put into a company the more Confirmation Bias / Social Proof comes into play. Why would investors put so much money in if they didn't do fundamental due diligence, the thinking goes. So that means these firms can raise even more money with less scrutiny than a Series A round would get at a $2M round with a $10M valuation. Is this company real? Who knows. Do I trust the VCs to do real due diligence and verify that it is? Nope. Not a chance in hell. The indicators for Theranos was the lack of interest from folks like A18Z and Sequoia. Similarly the top investor here is not a household name. If this was the bees knees, I'd be expecting the big folks in this round. Is it possible this company is on the up-and-up and this is all going to pay off handsomely for everyone? Sure, it's possible. Do I have every right and reason to be skeptical and doubt that there's something here? Based on past experience, yes.