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Are Theranos and other secretive startups a scam?

Theranos was able to receive investments totaling $686M with a valuation close to $9B according to Crunchbase. Some of its top tier investors included ATA Ventures, Continental Ventures, DFJ, Tako Ventures, and Walgreens amongst others. The WSJ published an article on October 2015 explaining the facts behind Theranos technology which started a downward spiral for the company. There are other startups that keep their technology secretive such as Palantir. Are they all a scam? Why sophisticated VCs fail in performing due diligence?

5 Replies

Nigel Dessau
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Nigel Dessau Entrepreneur
Chief Marketing Officer at Wellsmith, LLC
good read:http://www.vanityfair.com/news/2016/09/elizabeth-holmes-theranos-exclusive
Irwin Stein
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Irwin Stein Advisor
Very experienced (40 years) corporate,securities and real estate attorney.
Most VC funds conduct due diligence, some better than others. Yes there are a lot of scams out there and the best ones are hard to detect.
Mark Swanson
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Mark Swanson Entrepreneur
Leader, Entrepreneur, Strategist, Technologist
Not all secrets are scams, but all scams require a willing recipient who is either greedy or charitable. I have not met any charitable VCs...

Thomas Duffy
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Thomas Duffy Advisor
Telehealth365
great marketing can make people lose their minds especially in a area that is very tech or socially conscious
Alfred Luckerbauer
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Alfred Luckerbauer Entrepreneur
BitCoinTrainer & BitCoinInvestor
I started and spent time to reseach about BitCoin......result...... YESSSSssss

contact me or people with a proven track record...... email or call +43-[removed to protect privacy] NO BULL
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