I don't think the point was what the tangible result would be, or risk of failure. Everyone putting money into an early venture knows that there is a good chan

I don't think the point was what the tangible result would be, or risk of failure. Everyone putting money into an early venture knows that there is a good chance they just kissed it goodbye. The problem is when said venture later lies about progress, or otherwise obfuscates, especially to get more money. That's certainly what Theranos did, and I think what GP was suggesting happened here.