Another consequence of the end of zero interest rates is finding out how many supposedly sophisticated investors gave hundreds of millions of dollars to founders who had nothing backing their businesses besides fraud.

There was a time Theranos was a unique story. Now we have IRL, Frank, FTX, Ozy Media, Headspin, etc. The VC gods turned out to have feet of clay. https://www.theinformation.com/articles/softbank-sues-former-irl-ceo-for-fraud