There’s nothing to get. They oversold what they were doing and VCs didn’t do their necessary due diligence.
People who try to make Fast sound like theranos are evil-minded.
Fast had good early traction. Then, the traction stopped. They didn't lie about the numbers and couldn't raise more money.
Theranos didn't get actual traction, lied about almost everything, and successfully raised even more money.
Big difference.
Bullshit. Theranos told investors clear falsehoods they knew to be false in order to get funding. Fast sold a vision they couldn't deliver on, and unless more info comes out I didn't see anything that said they committed fraud.
Its a market after all, VCs have the option to say no. And every smart person with financial analysis skills is welcome join the industry and beat the rank incompetence with an 80% failure rate, can't be difficult can it?