At the age of 31, Elizabeth Holmes was named the world's youngest self-made woman billionaire, worth $4.5 billion. Holmes was the founder and CEO of Theranos - a now-defunct biotechnology company that soared in valuation after the company falsely claimed to have revolutionized blood testing by developing methods that could use surprisingly small volumes of blood, from a single fingerprick. The former biotechnology entrepreneur was later convicted of criminal fraud in connection with a multi-million-dollar scheme to defraud investors. In the case of Holmes, the principle of honesty and standard of integrity were breached and replaced with a fascination to worship. The deeper message seems to lie in our unwavering commitment to glorify and idolize individuals beyond demonstrated outcomes, without reason or question. To our fault, this pattern continues to echo throughout our institutions and discourse.

To be fair, Elizabeth Holmes is hardly a singular example. Cases such as Enron, Bernie Madoff, Billy McFarland (Fyre Festival), and Anna Delvey all deliver the same paradox and lack of basic inquiry. This phenomenon has plagued humanity through time. However, its modern encapsulation was cemented by Steve Jobs. He seeded and pioneered the contemporary interpretation of the technological visionary mimicked and studied by those who have come to follow. If you need to sell something in tech, just follow the Jobs Visionary Playbook: turtle neck, grandiose presentations, speak of wonderment, and assert your conviction relentlessly. For the last two decades, Silicon Valley copy and pasted these disciples and exalted them as extraordinary. America will ignore transgressions and abandon basic inquiry in exchange for a great product and charismatic leader.

Enter Sam Bankman-Fried, Founder and CEO of FTX, one of the largest exchanges for digital currencies in the world. Until yesterday, SBF was hoisted as one of the most prominent voices and evangelists in the crypto community. Two months ago, he was featured two months ago on the cover of Fortune with the headline “The Next Warren Buffett?.” He was considered credible, dependable, and established.

As we’d soon all discover, FTX was built on a shaky financial foundation which came to a head when they were unable to process withdrawals. FTX lacked the funds to be able to fulfill the demand. Facing collapse, and in need of immediate capital, SBF and FTX were bailed out by a major competitor. Binance, the world’s now largest cryptocurrency exchange, said it had reached an agreement to buy FTX in what many consider a pivotal moment for the industry.

In another tech tale of the empower wears no clothes, when the tides receded, SBF was fluffing. He was aware he was illiquid, but played the part. He was put on a pedestal and compared to time tested, consistent legends. He was lauded as a wunderkind, a guide. The moral remains the same. Be careful who you admire. Judge by action. Follow outcomes.

In 2022, anyone can wear the turtleneck and play the part.

At the age of 31, Elizabeth Holmes was named the world's youngest self-made woman billionaire, worth $4.5 billion. Holmes was the founder and CEO of Theranos - a now-defunct biotechnology company that soared in valuation after the company falsely claimed to have revolutionized blood testing by developing methods that could use surprisingly small volumes of blood, from a single fingerprick. The former biotechnology entrepreneur was later convicted of criminal fraud in connection with a multi-million-dollar scheme to defraud investors. In the case of Holmes, the principle of honesty and standard of integrity were breached and replaced with a fascination to worship. The deeper message seems to lie in our unwavering commitment to glorify and idolize individuals beyond demonstrated outcomes, without reason or question. To our fault, this pattern continues to echo throughout our institutions and discourse.

To be fair, Elizabeth Holmes is hardly a singular example. Cases such as Enron, Bernie Madoff, Billy McFarland (Fyre Festival), and Anna Delvey all deliver the same paradox and lack of basic inquiry. This phenomenon has plagued humanity through time. However, its modern encapsulation was cemented by Steve Jobs. He seeded and pioneered the contemporary interpretation of the technological visionary mimicked and studied by those who have come to follow. If you need to sell something in tech, just follow the Jobs Visionary Playbook: turtle neck, grandiose presentations, speak of wonderment, and assert your conviction relentlessly. For the last two decades, Silicon Valley copy and pasted these disciples and exalted them as extraordinary. America will ignore transgressions and abandon basic inquiry in exchange for a great product and charismatic leader.

Enter Sam Bankman-Fried, Founder and CEO of FTX, one of the largest exchanges for digital currencies in the world. Until yesterday, SBF was hoisted as one of the most prominent voices and evangelists in the crypto community. Two months ago, he was featured two months ago on the cover of Fortune with the headline “The Next Warren Buffett?.” He was considered credible, dependable, and established.

As we’d soon all discover, FTX was built on a shaky financial foundation which came to a head when they were unable to process withdrawals. FTX lacked the funds to be able to fulfill the demand. Facing collapse, and in need of immediate capital, SBF and FTX were bailed out by a major competitor. Binance, the world’s now largest cryptocurrency exchange, said it had reached an agreement to buy FTX in what many consider a pivotal moment for the industry.

In another tech tale of the empower wears no clothes, when the tides receded, SBF was fluffing. He was aware he was illiquid, but played the part. He was put on a pedestal and compared to time tested, consistent legends. He was lauded as a wunderkind, a guide. The moral remains the same. Be careful who you admire. Judge by action. Follow outcomes.

In 2022, anyone can wear the turtleneck and play the part.