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TagSilicon Valley (fraud)

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When Silicon Valley Turns From Hype Over Vaporware to Fraud…

Jeffrey Funk and Gary Smith discuss the famous Theranos case, which resulted huge losses and in convictions for fraud

In a column published today at MarketWatch, Jeffrey Funk and Gary Smith talk about that unpleasant subject, the shady side of Silicon Valley. They’re not looking at the unicorns naively chasing rainbows but rather the cases of apparently deliberate deception. One of them is vaporware— announcing a product that won’t really exist any time soon (perhaps in the hope of dissuading potential buyers from investing in a competitor’s product). Another is “fake it until you make it,” the topic of today’s column. Investors sign on by throwing money at the company, which the company then spends trying to develop what it said it already has. Either way, the company keeps lying as long as necessary, or until its cover is…