The next Theranos will be a space tech company that has raised a boat load of money in this current cycle. Except, instead of no-name investors, they’ll have been backed by a mob of Silicon Valley VCs.

The idea of doing technical due diligence on a seed stage space company in a month is a joke. Until they’ve launched, they know they are full of shit - it’s just a question of to what degree (“test like you fly” is why NASA missions cost billions).

By Theranos I mean:
- Full of extremely technically capable and smart people with grand ambitions
- Working on an extremely hard and worthwhile technology/mission
- Way too comfortable talking in the present tense about very far-off uncertain things as if they’ve happened
- Fraud

If one of these companies runs out of at-bats with a half-baked *almost working* prototype (that isn’t actually almost working)…the temptation to sell some deals based on falsified data might just overcome the less…disciplined of the current batch of entrepreneurs.

Beware people who exclusively talk about the importance of a company to the future of humanity or whatever coded gradation of that same pitch they settle on. It’s always the people convinced they’re fighting a holy war that contort their sense of morality to suit their needs.