Conned: FTX, Fyre, Theranos, and the rise of the millennial scammers

Scammers seem to be multiplying in recent years, but why? Well, with the widespread use of the internet and mobile devices, scammers have more tools at their disposal to reach potential victims and create convincing scams. They can use social media, dating apps, and other platforms to target individuals and businesses. As more and more transactions are conducted online, scammers have more opportunities to steal personal information and money from individuals and businesses. Furthermore, the buzzy, liquid startup scene has made investors less aware of the latest scams and how to spot them, making them more vulnerable to fraud posing as the next big unicorn startup.

With that, let’s unpack some of the biggest millennial grifts in recent years.

Elizabeth Holmes

Elizabeth Holmes, the charismatic CEO of biotech startup Theranos, was once on top of the world. Dubbed the “next Steve Jobs,” she claimed to have developed a revolutionary technology that could quickly and cheaply run hundreds of diagnostic tests with just a few drops of blood. But as her empire rapidly rose, dark secrets began to surface.

Investigations uncovered that the company’s technology was not only faulty, but also potentially dangerous to patients. As the scandal broke, Holmes’…