21–30 of 182 posts
Wow. Okay, this takes it from "Shit happens and people can be totally deluded" to actual, genuine fraud. Edit: Also, how can people be that stupid? You have to know the truth will eventually come out? Right? Or, no? I don't get it.
I bet there are many other boardrooms around Silicon Valley who are panicking over this. There's so much pressure to be immediately profitable and show predictable year over year growth. How many have faked user trials or cooked the books in ways that would make Enron blush?
One of Silicon Valley's problems continues to be that there is so little pressure to build a profitable business from early on. It's the exact opposite, they overwhelmingly encourage reckless behavior to chase growth over profit, resulting in almost exclusively extreme binary outcomes (as desired by the VCs).
Wow. Okay, this takes it from "Shit happens and people can be totally deluded" to actual, genuine fraud. Edit: Also, how can people be that stupid? You have to know the truth will eventually come out? Right? Or, no? I don't get it.
It's easy to fool yourself into believing that the fraud is just a temporary necessity while you work out the final kinks in your product.
Wow. Okay, this takes it from "Shit happens and people can be totally deluded" to actual, genuine fraud. Edit: Also, how can people be that stupid? You have to know the truth will eventually come out? Right? Or, no? I don't get it.
It's easy to fool yourself into believing that the fraud is just a temporary necessity while you work out the final kinks in your product.
To get a contract, Bob Noyce claimed for a buyer that Fairchild could produce & deliver a new type of transistor, in a large quantity, without having any production capability for it yet, as it had never been built.
Excite bid on getting a place on Netscape's browser, before having the money to actually pay for it (they figured they'd get it afterward):
http://bnoopy.typepad.com/bnoopy/2004/09/persistence_pay_1.h...
Microsoft on multiple occasions said or implied they had something they didn't have at the time, in dealing with MITS and IBM.
Is this the first total collapse of a "unicorn" this time around? I can't think of any recent, high profile disintegrations of this order of magnitude.
You must have missed the Zenefits stuff. You clearly are missing out on Uber's continuing implosion, too.
Neither Zenefits nor Uber meet that definition. Uber particularly isn't even remotely close to it. Unless you consider a company still holding a ~$50 billion valuation, with $9 billion in cash + credit line, chasing down $10 billion in sales for 2017, a total collapse.
How is it always WSJ busting Theranos? is a competitor funding their "investigative journalism"? Not to say the article is untrue, just the super hard-on WSJ has for Theranos is mysterious.
Earlier quoted context omitted.
It's easy to fool yourself into believing that the fraud is just a temporary necessity while you work out the final kinks in your product.
It's a frequent fine line in tech. To get a contract, Bob Noyce claimed for a buyer that Fairchild could produce & deliver a new type of transistor, in a large quantity, without having any production capability for it yet, as it had never been built. Excite bid on getting a place on Netscape's browser, before having the money to actually pay for it (they figured they'd get it afterward): http://bnoopy.typepad.com/bno…
Earlier quoted context omitted.
It's easy to fool yourself into believing that the fraud is just a temporary necessity while you work out the final kinks in your product.
It's a frequent fine line in tech. To get a contract, Bob Noyce claimed for a buyer that Fairchild could produce & deliver a new type of transistor, in a large quantity, without having any production capability for it yet, as it had never been built. Excite bid on getting a place on Netscape's browser, before having the money to actually pay for it (they figured they'd get it afterward): http://bnoopy.typepad.com/bno…