How Forbes Monetizes The Frauds They Create

Sam Bankman-Fried, Elizabeth Holmes, and Charlie Javice share a few things in common. They all seem to have committed fraud; though a court of law convicted only Homes at the time of writing. The three are also Forbes ’30 Under 30′ Alumni. Forbes is the best in the business at monetizing frauds on the way up and later on the way down. Javice was the CEO of a startup called Frank that JPMorgan Chase acquired in large part because of the over 4 million users the company boasted. The best coverage of JPMorgan Chase’s lawsuit claiming Frank only had 300,000 real users and created 4.265 million fake customer records to satisfy due diligence is in Forbes. Holmes was found guilty on four of 11 fraud charges as the founder of the fake blood-testing startup Theranos. She received an 11-year prison sentence. Forbes has published many articles covering the trial, the sentencing, and the analysis of what went wrong. Just as they once happily propped Holmes up as some business and technical thought leader. Bankman-Fried, once propped up by fawning media coverage in Forbes, now graces the pages with words about his probable fraud with FTX and Alameda Research. These paragraphs are becoming monotonous. Forbes made money with articles, building up these fraudsters without critical analysis. The media juggernaut now makes money writing about the frauds, which were at least partly made possible by the endowment of trust from Forbes. In an article I wrote in 2020 about fake gurus, I talked about Sam Ovens, a man who…How Forbes Monetizes The Frauds They Create

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