Comment by rsynnott

I mean, the point is, someone betting against Theranos in this way, if it were a public company, would almost certainly have lost money (unless their timing was _perfect_). Enron would be a better example (as it was public); a lot of people, even before Enron's downfall, were fairly sure that Enron was dodgy, but trading on that belief would have been extremely dangerous, because it might take _years_ to come unstuck, and shorts (or puts) ain't free.