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In the 15-minute format, we focus on the capital structure. Theranos raised $700 million from private investors who never performed a single technical due diligence. Why? Because the FOMO—fear of missing out—was stronger than their fiduciary duty. This section documents how the company used shell c…

In the 15-minute format, we focus on the capital structure. Theranos raised $700 million from private investors who never performed a single technical due diligence. Why? Because the FOMO—fear of missing out—was stronger than their fiduciary duty. This section documents how the company used shell companies and non-binding partnerships to inflate their valuation metrics, a blueprint for the financial failures we would see years later in the crypto sector.