Without knowing what was in the mind of Elizabeth Holmes (Theranos) it really did seem like the “fake it till you make it” mantra went on way too long. I mostly say the two cases are similar because many smart people within those companies knew things were wrong and tried to speak up but the execs continually shut down any negative talk with zero acknowledgement of the issues.
“Fake it till you make it” is how most scams start. Most people aren’t looking to actually run a ponzi scheme, they just quickly get in iver their head. She knew her product didn’t work and continued to market it anyway. Thats a scam.
Personally, I think they switched to scamming pretty early (medicine is one area where IMO “fake it till you make” doesn’t work), but never figured out a proper exit strategy for the scam.
Without knowing what was in the mind of Elizabeth Holmes (Theranos) it really did seem like the “fake it till you make it” mantra went on way too long. I mostly say the two cases are similar because many smart people within those companies knew things were wrong and tried to speak up but the execs continually shut down any negative talk with zero acknowledgement of the issues.
“Fake it till you make it” is how most scams start. Most people aren’t looking to actually run a ponzi scheme, they just quickly get in iver their head. She knew her product didn’t work and continued to market it anyway. Thats a scam.
Ah, I see what you mean.
Personally, I think they switched to scamming pretty early (medicine is one area where IMO “fake it till you make” doesn’t work), but never figured out a proper exit strategy for the scam.