I'd hazard a guess that many cases of startup fraud start out as good-faith delusions of grandeur, and only pivot to bad-faith fraud when the founders realize i

I'd hazard a guess that many cases of startup fraud start out as good-faith delusions of grandeur, and only pivot to bad-faith fraud when the founders realize it's the only option to keep the lights on. Because the product results aren't there. That is, plan A is Stripe, plan B is Theranos.