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Doesn’t anyone do due diligence any more?

Theranos and FTX show a broad failure by investors to ask enough questions before handing over cash

©The Financial Times Limited 2020 Nov 30, 2022 / 11:50 AM IST
All Rights Reserved. FT and Financial Times are trademarks of the Financial Times Limited Not to be redistributed, copied or modified in any way.
Doesn’t anyone do due diligence any more?

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Brooke Masters It’s been a lousy month for the reputation of professional investing. The collapse of FTX revealed that everyone from racy hedge funds to staid pension and sovereign wealth funds had been throwing money at a cryptocurrency exchange with weaker financial controls than Enron. Elizabeth Holmes was sentenced to 11 years in prison for Theranos, a fraudulent blood-testing scheme that deceived Oracle founder Larry Ellison and media mogul Rupert Murdoch. Shares in tech companies that went public during the 2020-21 Spac frenzy...

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