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The investors should have done due diligence to check if the proposal had some kind of scientific plausibility.
It seems crazy no one asked can one pin prick of blood give this many test results for a complete health check, when usually you need to see a phlebotomist to get a blood sample taken to assess for one condition.
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So the backers have no right to beef if they lose out, because bankrolling the next unicorn is just a casino. The backers are greedy and deserve to fail sometimes. Was that how Bernie Madoff thought?
I don't want to come across as a Theranos apologist (because I genuinely am not) but if people did not invest what they could not afford to lose the impact of this sort of shitshow would be far less. Most business investments lose money after all. There is definitely an element of people being exploited but also, allowing themselves to be exploited in this.
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dancing james
Stonehedge
@nick_h.
So the backers have no right to beef if they lose out, because bankrolling the next unicorn is just a casino. The backers are greedy and deserve to fail sometimes. Was that how Bernie Madoff thought?