Thread by @page88

The problem with Theranos is the problem with every single startup: all marketing no product.

And I mean NO product. Nowhere near beta. Just nothing. Wizard of Ozzing for investor decks. nytimes.com/2021/09/15/opi…

Marketing is often known as the yin, right-brain part of a startup. CMOs are disproportionately women.

Holmes was an excellent marketer. And a truly abysmal engineer. Like just about every latter-day founder I have ever met.

I was so excited to meet Teslas, Edisons, Mrs Fieldses when I advised startups.

Instead I met lavishly funded people selling Twitter-linked headphones that were not just made in China, but designed & engineered there & they caused horrible headaches and didn’t connect to Twitter

I started to ask 2 questions of founders:

Do you have any IP?
Do you have any revenue?

Answer: No but we know Drake.

In 2007, Marc Andreesen (who blocks me) famously asked what was most important to a startup—product, personnel, or marketing? By far marketing! The product “just has to basically work.” If they come, you will build it!

fictivekin.github.io/pmarchive-jeky…

“Basically work” slides into “is shit” and basically:

Excellent marketing of shit projects IS fraud.

Damn my NDAs or I would tell you about 3 very high-profile opulently capitalized startups with sleek gadgets that did not work! But investors thought they did!

Or the famous meal-delivery service that gave everyone diarrhea and didn’t help feed the hungry as it promised to!