TWEETSTORM is an occasional feature on decentralize.today where we share threads , mostly from Twitter, that we think deserve a wider audience, some are informative, some educational, some amusing and others yet are controversial...we dig these out for you so you don't have to! (DT ran a piece on Elizabeth Holmes and the Theranos scandal which is linked at base of this 'storm).
Charles Hoskinson@IOHK_Charles
Watching the Elizabeth Holmes drama unfold through the court system really does reveal a lot about VC culture. There seems to be this burning desire for the next Musk/Gates/Jobs plus now inclusion to group X thus the business idea doesn't even matter nor does the industry (1/10)
Charles Hoskinson@IOHK_Charles
Founders are somehow able to raise hundreds of millions just on a name and the belief of future raises. Having spent years in the trenches, it's a totally alien concept to me. Cardano has evidence for all its claims. Hard fought and years of effort even for small things (2/10)
Charles Hoskinson@IOHK_Charles
My Healthcare company is repeating this approach by starting in primary care and building a center of excellence that is only successful if patient outcomes are better than the national average at a lower cost with happier doctors. It will take years for first results (3/10)
Charles Hoskinson@IOHK_Charles
Evidence is the foundation of all these things. Somehow it's totally removed from the current VC environment. Just asking for independent validation of any of Theranos's technology would have ended the scam. Why was it so hard? I guess because narratives beat reality (4/10)
Charles Hoskinson@IOHK_Charles
The Boeing 737 Max also showed us that convergence. Products, companies, and founders somehow get to live in a post-truth and post-evidence economy. Money is cheap. Returns are even cheaper. (5/10)
Charles Hoskinson@IOHK_Charles
The upcoming Age of Voltaire is our test for whether the community will succumb to the madness of the crowds and times or continue the course of evidence based decision making. It's hard to watch something that I invested so many years into now standing at that edge (6/10)
Charles Hoskinson@IOHK_Charles
But ultimately, I think the hard times, constant mockery, and resilience of this community has created a culture that will resist the urges that have overcome the industry and the broader echos of modern capitalism (7/10)
Charles Hoskinson@IOHK_Charles
At the core of things, I think everyone really does just want the world to be better if even only for themselves. If we can accept that goal might not be an immediate outcome, but rather a tantalizing distant horizon, then I think the mindset is right (8/10)
Charles Hoskinson@IOHK_Charles
But we are all just passengers on this boat now. Each one of us has to ask why things like Theranos happen and how groupthink can go wrong. We can also ask how our own biases and thoughts can fail us. I'm optimistic such things are possible (9/10)
Charles Hoskinson@IOHK_Charles
After all, we're only human, except for the protocols. (10/10)
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