cminister111
New member
@lovelifelln Look into the story of theranos. The amount of hype and bs that goes on in the business world makes it look like crypto coins at times.
If you’re building a startup, always sell BEFORE you build (here’s why)
- Thread starter seekingtruth94
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beararms101
New member
@cminister111 Yeah but you should also look into how Theranos crashed and burned miserably and how their CEO is now in jail.
@beararms101 That’s the point
cminister111
New member
@beararms101 Yeah thats the end result but she still got billions from investors beforehand
@cminister111 I suppose the cynically minded might argue that her biggest mistake was not to flee to a country without a relevant extradition treaty. 
"You’ve got to know when to hold ’em. Know when to fold ’em. Know when to walk away. And know when to run." — 'The Gambler'; written by Don Schlitz and sung & recorded by Kenny Rogers.
"You’ve got to know when to hold ’em. Know when to fold ’em. Know when to walk away. And know when to run." — 'The Gambler'; written by Don Schlitz and sung & recorded by Kenny Rogers.
cminister111
New member
@romrulida I'd argue her biggest mistake was intentionally defrauding investors but to each their own lol
@cminister111 I completely agree.
My point — which was certainly rather cryptically presented — was that if Theranos is presented as an example of why it was wrong to do that because the business failed and the CEO is now in jail, then what about the cases of companies & people who get away with it?!
I'm not sure whether this is a great example, but — from watching The Big Short (highly recommended, along with Margin Call) — perhaps the people working at ratings agencies, who profited from either fraud or ineptitude, but were never punished ...never even accused/prosecuted, AFAIK.
I guess it boils down to philosophy. Why is it (generally) a big mistake to steal: because you might be caught & punished, or because it's unfair (morally wrong) to take what someone else has earned & you haven't? Some people will be motivated only by the first factor, focused on self-interest, while others will be driven by principles, i.e. what's good for society.
My point — which was certainly rather cryptically presented — was that if Theranos is presented as an example of why it was wrong to do that because the business failed and the CEO is now in jail, then what about the cases of companies & people who get away with it?!
I'm not sure whether this is a great example, but — from watching The Big Short (highly recommended, along with Margin Call) — perhaps the people working at ratings agencies, who profited from either fraud or ineptitude, but were never punished ...never even accused/prosecuted, AFAIK.
I guess it boils down to philosophy. Why is it (generally) a big mistake to steal: because you might be caught & punished, or because it's unfair (morally wrong) to take what someone else has earned & you haven't? Some people will be motivated only by the first factor, focused on self-interest, while others will be driven by principles, i.e. what's good for society.
seekingtruth94
New member
@cminister111 Yeah definitely don’t pre-sell sell something regulated.
theflagen430297
New member
@lovelifelln This is more like a marketing sub than an entrepreneurship sub. And one of the main concepts of marketing, is to create some shocking viral clickbait facts that people wanna read.
Don't believe everything you read online.
Don't believe everything you read online.