It’s tricky business. The idea has to be plausible enough to attract investors, but implausible enough not to get looked at too closely by clever investors. Similarly, you have to drum up enough publicity to get interest, but not enough to get scrutiny.
Get the balance wrong and you get Theranos.
anomnom@sh.itjust.works 2 days ago
Theranos made a bunch of money for its creators, they just messed up by thinking they could keep lying, when they could have just admitted failure at some point and then moved on to the next grift.
Since then crypto schemes came atone and made it way easier to swindle dumb investors. So the VC grift isn’t as attractive.