Compare
Failures, side by side.
Compare funding, lifespan, valuation, and why companies failed.
2 of 3 selected
Theranos
2003–2018
FTX
2019–2022
Headquarters
Palo Alto, USA
Nassau, Bahamas
Industry
Health Tech
Crypto
Founded
2003
2019
Closed
2018
2022
Lifespan
15 yrs
3 yrs
Total raised
$945M
$1.80B
Peak valuation
$9B
$32B
Employees
800
300
Revenue
Undisclosed
Undisclosed
Business model
Proprietary blood-testing devices sold to retail pharmacies and clinics
Cryptocurrency exchange and trading platform, alongside sister trading firm Alameda Research
Cause of failure
Fraud
Fraud
Lesson
No amount of funding or board prestige substitutes for a working product — scrutiny eventually catches up with unverifiable technical claims.
Commingling customer deposits with a proprietary trading arm is a structural conflict of interest that no amount of marketing or celebrity endorsement can offset once it's discovered.