A couple of days ago I posted some videos of well known VC and early Theranos investor Tim Draper defending Elizabeth Holmes and calling SEC involvement "government interference" and saying that journalists were responsible for the downfall of the company, not fraud. Apparently it's a route to vast riches for a journalist, and so they can't be trusted, unlike the purely altruistic VC.
It's amazing how when talking about fraud in large organizations it's always the person who has least to gain financially that has their motives questioned, usually by those with most to gain. In part it's to cast doubt onto the messenger, but also the accusers simply can't understand any motivation other than financial for revealing wrongdoing.
It's amazing how when talking about fraud in large organizations it's always the person who has least to gain financially that has their motives questioned, usually by those with most to gain. In part it's to cast doubt onto the messenger, but also the accusers simply can't understand any motivation other than financial for revealing wrongdoing.
Draper's now doubled down on his doubling down and even after federal indictments drop, he's saying the same. Watch the video. I really don't know what to say.
Billionaire investor and early Theranos backer @TimDraper discusses supporting Elizabeth Holmes after her fraud charges, how more journalists will try to take down CEOs to get rich, and why he's not soured on investing in young, visionary startup founders. #CheddarLIVE pic.twitter.com/fxXGJEgFZU— Cheddar (@cheddar) June 19, 2018
Not surprised by the criminal indictment of Holmes, she screwed over some pretty rich and powerful people. He was probably also a participant with her in getting them to purchase stock, which probably doesn't seem like such a good move to him now.
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