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686.3million in 9 rounds (!!) to be exact. this is like a bad soap opera.

they were seeking to raise additional 200million. These VCs are insane.

IF (!!!) this ever worked they would be - 1billion before shipping any product. Whoever puts anymore money into this should ask for at this point majority of the equity no questions asked.

I think Color was worse, no?

(Edit: actually no, they raised "only" 41Mi)

It's not clear that investors _can_ fire Holmes.

They probably can't, or it would have happened by now.

I'm guessing when all claims from creditors/investors have been settled. Liquidation with the remaining capital divided up among them.