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The venture and startup industries have long had a problem with transparency.
Theranos could have likely saved itself from a future fraud trial if it was honest about the shortcomings of its blood testing device. Nikola founder Trevor Milton probably wouldn’t be on trial right now if he hadn’t allegedly lied to investors in a 2017 video that showed the electric truck his company was building was operational when it wasn’t.
In today’s market, with venture coming off an incredible bull run right into a downturn, it’s especially hard to keep up with what’s fact and what’s hype because the data hasn’t matched the discourse.
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