Tech gurus turned into a scam

Technological progress and innovation and the need for technological solutions are more and more essential, It is only natural that leaders and gurus emerge who promise to change the game and revolutionize everything completely. These visionaries often attract the attention of society and organizations with their ideas, their charisma and their ability to communicate.

These figures to be showcased have captured the attention and admiration of those looking for inspiration and success in the tech industry, as well as the attention of all who listen to their incredible life and business models.

However, sometimes, Some of these characters turn out to be frauds, defrauding investors and one day defrauding those who trusted them.

The guru stories featured in this article are a reminder that not all tech leaders and entrepreneurs are what they seem. A clear example is that many of them should not go for grand promises and firm speeches.

Adam Newman, co-founder and former CEO of WeWork

Adam Newman is an Israeli-American entrepreneur, primarily known as the co-founder and former CEO of co-working space company WeWork –Working with—. Newman co-founded WeWork in 2010 with Miguel McKelvey He quickly became a highly respected figure in the business and technology industry.

Under Newman’s leadership, WeWork experienced rapid growth and became one of the world’s most valuable startups. The company focused on creating modern and flexible workplaces for professionals and organizations of all sizes and expanded internationally with locations across the globe.

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However, in 2019, WeWork planned its IPO. At that time there were constant controversies and concerns about the company’s management and financial viability. Details about WeWork’s internal work culture and Newman’s outlandish behavior were revealed, including wild partying and questionable business decisions.

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Concerns about the company’s inflated valuation and its unsustainable business model led to the cancellation of the IPO and the resignation of Adam Newman as CEO in September 2019. He faced lawsuits and criticism for his handling of the company. and the decisions you make.

John McAfee, founder of McAfee

John McAfee

This American entrepreneur and programmer is credited with founding the company Software McAfee Antivirus, which bears his name. McAfee pioneered its development and played an important role in the Internet security industry.

McAfee founded McAfee Associates in 1987 and released one of the first commercial antivirus programs. His company achieved remarkable success and became one of the leading companies Software Security in the world. However, in 1994, McAfee left the company and sold his shares.

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After his departure, he engaged in highly controversial business and personal activities: investments in different companies and projects, as well as extravagant and controversial public life.

He also became an advocate for online privacy and freedom and criticized government agencies and surveillance programs. In addition, he ran for the presidency of the United States in 2016 and 2020, in the first instance under the “Cyber ​​Party” party and in the second under the “Libertarian” party.

John McAfee

John McAfee died in Spain in June 2021 while awaiting extradition to the United States. Allegations of tax evasion and fraud related to cryptocurrencies. His death generated extensive media coverage and speculation.

Elizabeth Holmes is the founder of Theranos

Elizabeth Holmes, a follower of Steve Jobs, fooled half the world

Elizabeth Holmes is an American entrepreneur who is the founder and former CEO of California-based blood testing technology company Theranos. Holmes rose to prominence by promoting his company’s technology as a revolutionary invention that could perform multiple blood tests with a single drop using handheld devices.

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At 31, she was the most popular young entrepreneur in the male-dominated Silicon Valley. His company was then valued at $9 billion. He has been compared to Bill Gates due to his visionary approach to the technology industry and his undeniable youth and entrepreneurship.

Elizabeth Holmes

Under his leadership, Theranos achieved a multi-million dollar valuation and attracted the attention of the media and investors. however, In 2015, a series of irregularities and questions about Theranos technology were revealed.

It was discovered that the company’s blood tests were not working as claimed and that most of the tests were done on traditional lab machines instead of the company’s equipment.

Elizabeth Holmes, a follower of Steve Jobs, fooled half the world

Specifically, in 2021, Holmes was tried in California for fraud. Through whistleblower disclosures and a reporter’s investigation The Wall Street JournalIt was revealed that the company’s specially developed machine was unable to perform more than 200 blood tests, while some test results were inaccurate and unreliable.

On January 3, 2022, Holmes was found guilty of 4 counts of investor fraud: 3 counts of wire fraud and one count of fraud conspiracy. In November 2022, he was sentenced to 11 years in prison.

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Mike Lynch, Finance Director, Autonomy Corporation

Mike Lynch

Mike Lynch is a British entrepreneur and technologist best known as the founder and former CEO of Autonomy Corporation. Software From the United Kingdom. Autonomy, information retrieval, analysis and management technologies and became one of the companies Software Most successful in the country.

Lynch founded Autonomy in 1996 and is recognized for his innovative approach to the field of natural language processing and artificial intelligence. The company achieved remarkable growth and became one of the top technology companies in Europe.

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However, in 2011, Autonomy was purchased by HP for nearly $11 billion. Shortly after acquisition, HP accused Mike Lynch and other former Autonomy executives of inflating earnings and the company’s value before the buyout.

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The case resulted in a long and highly publicized legal battle. In 2019, a UK court found Lynch and other former executives guilty, but continued to deny the charges.

Mundo Crypto co-founder and CEO Mani Dhavani

Who is Mani Dhavani and what is the background of this controversial guru and cryptocurrency entrepreneur?

Mani Davani has become one of the most influential cryptocurrency investment icons in Spain. A complete success story that was overlooked: a troubled childhood, no opportunity to study and work from a very young age.

However, his life took a 180-degree turn when Bitcoin crossed his path and changed his life on all levels, not just professionally, financially, personally and in his philosophy of life. When he made his first investment (he did not say how much) the cryptocurrency was worth 273 dollars (20,627 euros at the time of writing this report).

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After the crypto world was born in 2019, It is the largest cryptocurrency academy in Spain with over 40,000 students.

However, the National Securities Market Commission (CNMV) has already warned on several occasions that “They are not licensed in any way to advise on financial instruments or broker investment activities in financial instruments”.

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However, Mundo Crypto has always managed to escape the “pyramid scam” label, and the Canarian businessman insists that the investment aspect always remains, comparing Mundo Crypto to big online training platforms such as Coursera or udemi.

It is understood that it will close in Spain in early 2023. In an official statement, the crypto firm explained that it will continue to operate from the UAE and blames Spanish regulatory bodies for the shutdown.

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