The Front Page of Scams

 

As you can see from the image above, there are four pictures that are all related to financial scams, scandals, and big losses.

The irony here is that Forbes and many other magazines have awarded these people and given them a lot of respect

 

1st picture (top left) belongs to Elizabeth Holmes who founded Theranos and was world's youngest self-made female billionaire", trumpeted Forbes magazine. The "next Steve Jobs", said Inc, another business magazine that put her on the cover. With a few drops of blood, Theranos promised that its Edison test could detect conditions such as cancer and diabetes quickly without the hassle of needles. But by 2015, the seams were coming apart, and within a year, Holmes was exposed as a fake. The technology she touted didn't work at all, and by 2018 the company she founded had collapsed.

 

2nd picture(top right) belongs to The Former CEO of FTX Sam Bankman who is an MIT graduate student has mentioned in his recent statements that he just mis-accounted his calculations while working on the humongous $8 billion funds he was handling into a bankrupt cryptocurrency exchange platform FTX. This public statement by Sam Bankman shows that maths was not his strength during his graduation from MIT while studying in the US.(lol)

 

3rd picture (bottom left) belongs to the WeWork founder and former CEO, Adam Neumann. The WeWork scam involved numerous fraudulent practices, including overstating revenue, hiding losses, and inflating the company's growth prospects. Neumann was at the center of the fraud, and his behavior and management style were criticized as erratic and impulsive. The fallout from the WeWork scam resulted in Neumann's ouster, WeWork's plummeting valuation, and significant financial losses for the company's investors.

P.S.  if you haven't watched WeCrashed(starring Jared Leto - "the guy who played Joker and was/is idk front man of 30 seconds to mars" and Anne Hathaway) watch it.!

4th picture (bottom right) shows a tweet from SVB (Silicon Valley Bank) which was awarded with America's Best Bank by Forbes in 2023 (can you imagine in 2023????) No later than the tweet was posted this startup-focused lender SVB Financial Group became the largest bank failure since the 2008 financial crisis, in a sudden collapse that roiled global markets and left billions of dollars belonging to companies and investors stranded. California banking regulators closed the bank, which did business as Silicon Valley Bank, and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for later disposition of its assets and later FDIC clarified that 89% of total deposit in 2022 of SVB was uninsured. (BUMMERRR!!!)