Why is this news? There have been so many false promises in tech during the boom of the 2010's and finally consequences are coming to those who were most egregious.
Low interest rates allowed hundreds of startups to make promises of growth and profit, but all they did was burn investor money (and pay themselves). So when one of the biggest overpromise/under-deliver offenders goes to jail, it becomes schadenfreude for all of us.
It’s not about overpromise/underdeliver, byt about an outright fraud - lying to the investors.
Overpromising is something that investors expect, if not even require - startups are all about doing long shot bets, with 5% chance of doing something brilliant and 95% of failing.
Low interest rates allowed hundreds of startups to make promises of growth and profit, but all they did was burn investor money (and pay themselves). So when one of the biggest overpromise/under-deliver offenders goes to jail, it becomes schadenfreude for all of us.