There's no need for some conspiracy.

It's a juicy story to talk about that hits a lot of checkboxes that make it viral --

  1. the hustle culture they promoted online was gross
  2. they followed the 30u30 Forbes pattern like Liz Holmes, FTX, etc. 
  3. they're a YC co, so their's plenty of popular voices supporting them

Finally, the security and compliance community is litigious by their nature and this startup, in general, was a net negative for a lot of people who do fractional / consulting work in security.

What's more surprising to me, as a layperson, is that I found this out and investigated their shady auditor network in late December. It didn't take much work.

Insight Partners invested in a 32 MILLION DOLLAR ROUND without any apparent shred of due diligence. What does that say about the VC market writ large?