Technology
Vaporware
Every satisfying tech fraud started with a pitch that sounded too good to be true, and a room full of people who wanted to believe it.
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Episodes
The archive
22 episodes, newest first.
- Terra/Luna: The Coin That Was Mathematically SafeIn May 2022, $40 billion in crypto evaporated in 72 hours when Do Kwon's algorithmic stablecoin collapsed. Derek and Grant reconstruct the pitch, the hidden trading deals, the 72-hour death spiral, and the sentencing that finally put a number on one of the biggest frauds in financial history.
- Nate: The AI That Was Just PeopleAlbert Saniger raised $42 million promising a revolutionary AI shopping app. The automation rate was effectively zero percent. This is the story of how he kept hundreds of human workers hidden in the Philippines and Romania, and why it took the DOJ until 2025 to make it a criminal case.
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About
What the show is
Vaporware tells the stories of technology's most spectacular cons, from 19th-century telegraph swindles to billion-dollar startup collapses. Each episode reconstructs how the fraud worked, who fell for it, and what warning signs everyone missed. Built for skeptics, founders, investors, and anyone who's ever wondered how Elizabeth Holmes convinced a room of billionaires that her box worked. Two hosts pick apart one con per episode, following the money and the psychology behind the biggest lies the tech industry ever told.
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