Steven Novella

It was not fully functional, right?

It was not a product.

It was not complete.

But whatever, three months later, he did have a working iPhone.

That's not what we're seeing here.

Theranos was something different.

Elizabeth Holmes said, I want to invent this thing.

And then she started marketing it and raising money for it.

Even though people were telling her, what you want to create is impossible.

She ignored that and just went with it.

Seems like that's much closer to what's happening here.

Either it was just deliberate fraud, or this guy was like, yeah, we're going to develop a solid state battery with all of this suite of awesome features, and I'll let the engineers worry about that.

I'm just going to market the thing that I want to make, right?

But I don't even think that really covers it.

So those are the three possibilities, right?

So all three of those things happen.

Yes.

So either you are hyping up your tech to lure in investors.

Right.

Which is really problematic because then you can get into investment fraud, right?