All-In with Chamath, Jason, Sacks & Friedberg E62: Elizabeth Holmes verdict, fraud origins & takeaways, navigating "The Great Markdown" & more
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Jan 8, 2022 The discussion kicks off with humor about a costly candle and a tense poker night impacted by COVID anxieties. The hosts dive into the verdict of Elizabeth Holmes, dissecting the dangerous allure of her fraudulent claims and the lessons for investors. They also explore the chilling effects of 'The Great Markdown' on markets, advising startups on how to survive downturns. Insights into navigating Delaware corporate law and transparency challenges are shared, alongside critiques of the Federal Reserve's economic policies. The conversation wraps up with playful banter about future collaborations.
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One Drop of Blood Claim
- Theranos's claim of hundreds of results from a single blood drop is technologically unlikely, even today.
- Measuring different molecules requires distinct assays and sufficient sample volume.
Google Ventures' Due Diligence
- Google Ventures investigated Theranos by having a team member take the test at Walgreens.
- This simple due diligence revealed potential issues.
Advice for Entrepreneurs
- Be transparent about your company's present state and avoid misrepresenting current capabilities.
- Be cautious with media promotion, as it can backfire.