Visionary vs. Fraud
Founder's Journal
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The Fine Line Between Vision and Fraud
This chapter explores the distinction between vision and fraud in the startup world, using examples of Elizabeth Holmes and Magic Leap. It discusses factors that differentiate the two, such as timing and investors, and raises concerns about companies with a history of false promises entering the medical field. The chapter also delves into the influence of narratives in driving valuations and the shift from valuing companies based on story to valuing them based on fundamentals in a defensive market.
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