Daily Archives: August 19, 2017

Those Kooky Billionaires

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Those of you who have ever seen Fiddler on the Roof probably remember the line from Tevye, “When you’re rich, they think you really know.” That certainly applies here in the Silicon Valley, as the words from billionaires – – no matter how wrong-headed or goofy – – get a lot of attention and respect.

Tim Draper is a big venture capitalist here, and among such stellar investments as Tesla and Skype, he also put cash into the clunker Theranos, whose bankruptcy (to my mind at least) seems virtually inevitable. Instead of being quiet on the Elizabeth Holmes debacle, he has instead painted the company’s failure as some kind of anti-feminist conspiracy against Ms. Holmes, instead of a simple matter of outright fraud.

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