Nine billion opportunities for fraud

The current wave of billion dollar unicorn tech companies makes a startup investment fraud almost inevitable

how do local businesses make a return on investment

Everything is not all it seems at Theranos, the medical testing startup estimated to be worth  nine billion dollars reports the Wall Street Journal.

If true, the allegations Theranos is using conventional technology to run its diagnostic tests mean most of the investment community and tech media have been sucked into an elaborate con.

While it’s too early to say whether the allegations about Theranos are true, with so many multi billion dollar ‘unicorns’ running around it’s inevitable somebody will try such a scam.

Indeed, it’s in the interests of many to promote such a unicorn and for those early into the company it could be immensely profitable.

Even if Theranos turns out to be for real, there will be those that won’t be.

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Author: Paul Wallbank

Paul Wallbank is a speaker and writer charting how technology is changing society and business. Paul has four regular technology advice radio programs on ABC, a weekly column on the smartcompany.com.au website and has published seven books.

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