> Saying it's "obvious and rational" that we want to deter people from committing fraud is not a good defense of those involved with Theranos
Oh, I didn't intend that as a defense of Theranos. I intended that as a justification for punishing Shkreli.
> the important thing is, as you seem to sort of agree, to deter bad actors and encourage good ones.
I think punishment has many societal functions, some of them more rational than others, but all legitimate in their own way.