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I have a strong suspicion another example will be Magic Leap. Note: not as an intentionally-misleading or lying case, but just as another extremely well-funded startup whose launch is likely to fall short of the hype.

$2.3bn in funding adds an immense pressure for it to be successful and perceived as revolutionary.

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Magic Leap could certainly fail, but I don't understand how they could be another Theranos.

Theranos had contracts-signed, money-spent deadlines for things they couldn't provide (the Walgreens deal), and was selling further investors by lying about having their product already in use by the government.

At least publicly, Magic Leap has promised virtually nothing. They said in December they'd ship something this year, but there's nothing binding in that. Even in the worst case - the tech is literally useless and they spent all the money - it'd be a bad investment rather than fraud and breach of contract.

Agreed. Somebody else mentioned it's more similar to Segway than to Theranos - overhyped to hell, but not a scam.

IMO selling vaporware is indeed a scam

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