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How to pump up the value of a company? Hire as many popular dudes/gals and get them on your board or in a press release. It’s what the leadership at Theranos d

by xyst 2y ago

How to pump up the value of a company? Hire as many popular dudes/gals and get them on your board or in a press release. It’s what the leadership at Theranos did.

yunohn 2y ago
And the AI pin company- Humane.
ergocoder 2y ago
The similarity with theranos isn't really there even if we ignore the fraud from theranos. Theranos's board members are a bunch of army generals with no technical experience. Ive is an expert in building consumer devices...and that is what he is doing right now with OpenAI. However, having a bunch of popular influential people working in the same team isn't exactly a recipe for success. But comparing to theranos is a bit unfair.
- Hasu 2y ago
  No comment on whether the conclusion is merited, but the parallels are closer than you're saying. > Theranos's board members are a bunch of army generals with no technical experience. OpenAI's board includes Retired U.S. Army General Paul M. Nakasone. > Ive is an expert in building consumer devices...and that is what he is doing right now with OpenAI. Surely, Theranos didn't hire a board of highly qualified doctors and medical professionals? https://fortune.com/2016/04/07/theranos-adds-startlingly-well-qualified-medical-board/ https://fortune.com/2016/04/07/theranos-adds-startlingly-wel... In both cases I think the name and the press release is more valuable than the work being done by these famous names. That doesn't mean it's fraud, but it's a gross marketing tactic that sure looks similar to the behavior of fraudsters.
  - ergocoder 2y ago
    The majority of the OpenAI board members are tech entrepreneurs/tech execs. Theranos' weren't majority of biotech.
Shakahs 2y ago
This is a pointless attempt at a hot take made only because AI is the latest thing HN luddites like to dump on. Theranos never shipped a real product. OpenAI has, and has millions of direct active users plus millions more indirect active users via tech companies building products on top of their API.

by xyst 2y ago

How to pump up the value of a company? Hire as many popular dudes/gals and get them on your board or in a press release. It’s what the leadership at Theranos did.

yunohn 2y ago

And the AI pin company- Humane.

ergocoder 2y ago

The similarity with theranos isn't really there even if we ignore the fraud from theranos. Theranos's board members are a bunch of army generals with no technical experience. Ive is an expert in building consumer devices...and that is what he is doing right now with OpenAI. However, having a bunch of popular influential people working in the same team isn't exactly a recipe for success. But comparing to theranos is a bit unfair.

Hasu 2y ago
No comment on whether the conclusion is merited, but the parallels are closer than you're saying. > Theranos's board members are a bunch of army generals with no technical experience. OpenAI's board includes Retired U.S. Army General Paul M. Nakasone. > Ive is an expert in building consumer devices...and that is what he is doing right now with OpenAI. Surely, Theranos didn't hire a board of highly qualified doctors and medical professionals? https://fortune.com/2016/04/07/theranos-adds-startlingly-well-qualified-medical-board/ https://fortune.com/2016/04/07/theranos-adds-startlingly-wel... In both cases I think the name and the press release is more valuable than the work being done by these famous names. That doesn't mean it's fraud, but it's a gross marketing tactic that sure looks similar to the behavior of fraudsters.
- ergocoder 2y ago
  The majority of the OpenAI board members are tech entrepreneurs/tech execs. Theranos' weren't majority of biotech.

Shakahs 2y ago

This is a pointless attempt at a hot take made only because AI is the latest thing HN luddites like to dump on. Theranos never shipped a real product. OpenAI has, and has millions of direct active users plus millions more indirect active users via tech companies building products on top of their API.