Yeah, we see this time and time again. All those Theranos investors didn't do any diligence because they saw other rich and powerful people throw money at them.

Yeah, we see this time and time again. All those Theranos investors didn't do any diligence because they saw other rich and powerful people throw money at them. A friend who tried to raise funds from VCs for his start up tech company in SV, tried for multiple years. He was happy to disclose his financials because he had actual customers and revenue. But nobody cared for multiple years. Then one day, well known VC in those circles finally wrote them a check. The moment that happened, all the VCs were throwing money at him. They didn't care about the financials or doing their due diligence, they just did it because some other reputable guy did it. FOMO.