// UNICORNBURN · FAILURE INTELLIGENCE
Startup frauds ranked by total capital raised from investors before the fraud was exposed.
// THE INSIGHT
GM Cruise raised $10.0B before exposure. FTX raised $1.8B and evaporated $32B in user funds. The common thread: founders who believed the narrative more than the numbers.
| # | Name | Capital raised |
|---|---|---|
| 🥇 | GM Cruise usa | $10.0B |
| 🥈 | Evergrande NEV china | $9.7B |
| 🥉 | Wirecard germany | $2.5B |
| #4 | Americanas SA brazil | $2.0B |
| #5 | Global Crossing usa | $2.0B |
| #6 | FTX usa | $1.8B |
| #7 | Clover Health usa | $1.3B |
| #8 | Nikola Corporation usa | $1.1B |
| #9 | Theranos usa | $945M |
| #10 | Nikola usa | $900M |
// RISK INTELLIGENCE
Match any company against this dataset to surface which failure patterns apply — before you invest.
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