Hacker News new | past | comments | ask | show | jobs | submit login

I feel like we've seen this before. Young startup, visionary founder, boat loads of money, then after lots of money burned, outright lies, false claims, or at the very least vaporware.



The funny thing is, this startup isn't that young. It's 12 years old. Someone basically gave a completely inexperienced founder tens of millions of dollars and over a decade to run an R&D lab.


hundreds of millions.


Oh wow good point, that's never happened before... /sarcasm To your point, longevity does not equal success. Twelve would make it 2003.. Before Facebook. Before the huge boom. Twelve years is a long time to be a "startup".


These things come and go in cycles. Back in 1980 there was a startup that raised $230 million. That was, as they say, "real money" back in the day.

Great pedigree. But, eventually, poof, gone. Nothing much to show for all the investment.

https://en.wikipedia.org/wiki/Trilogy_Systems


Wait, but how the founder became a billionaire? I thought they are generating huge profit already...


Make believe billionaire, based on Theranos having a $9 billion valuation, based on $90 million in VC investments.


Cambrian Genomics?


Both them and Theranos suffered the suicide of their technical lead ...


Halcyon Molecular?




Consider applying for YC's Spring batch! Applications are open till Feb 11.

Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: