I disagree. There is a story there, namely that the Yale credential is one of the magic signifiers that let this guy waltz his investors past doing any due diligence before trusting him with their money. It didn't occur to them that such a thing was necessary, because he had all the right boxes checked off on his CV -- young, white, male, Silicon Valley, Yale. He was The Right Sort, and that was all the investors needed to know.

The story is the way that connections and credentials count for more in the world of American capital than a track record of success, or even honesty.