Shares of Enhanced Group (ENHA), the corporate behind the Peter Thiel-backed Enhanced Video games, fell by as a lot as half on Tuesday after a six-hour Las Vegas debut produced just one unofficial world report.
The startup went public this month at a $1.2 billion valuation and has now shed tons of of hundreds of thousands in market worth over the previous three weeks.
Vegas Debut Delivers One Document
The Enhanced Video games held a single-night competitors on Could 24 at Resorts World Las Vegas, paying out a $25 million purse.
Roughly 42 athletes competed, with the corporate’s personal monitoring information displaying 91% used testosterone, 79% used human development hormone, and 62% used stimulants like Adderall & modafinil forward of the occasion.
“Peter Thiel and Donald Trump Jr. spent hundreds of thousands to create a steroid Olympics. They promised to “redefine human limits” and put up $25M in prize cash…the entire pitch was that medicine would shatter the bounds of unpolluted sport. As an alternative, they proved the hole between juiced and clear…the one factor they really proved was how good the clear athletes already are. You suppose the Enhanced Video games uncovered something or simply embarrassed themselves?” one researcher posed.
Just one unofficial world report fell. Greek swimmer Kristian Gkolomeev clocked 20.81 seconds within the males’s 50-meter freestyle, beating Cameron McEvoy’s 20.88-second mark and incomes a $1 million bonus.
Sprinter Fred Kerley, who had predicted Usain Bolt’s 9.58-second 100-meter mark can be “destroyed,” gained in 9.97 seconds, a time that might not have certified for the Paris Olympics closing.
Clear athletes, together with Olympic gold medalist Hunter Armstrong, took three occasions outright.
Silicon Valley Loses to Biology
After closing at $5.36 on Friday, ENHA opened close to $2.67 on Tuesday, a roughly 50% intraday slide that worn out near $800 million in market worth.
Market cap has fallen from $981 million on Could 7 to roughly $655 million.
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The setup echoes one other latest venture-backed spectacle. Every week earlier, Determine AI staged a 10-hour “Man vs. Machine” contest during which a human intern beat its F.03 humanoid robotic 12,924 packages to 12,732.
When a single live-streamed proof level misses, the fairness story tends to unravel in hours, not quarters.
With backers like tech investor Peter Thiel traditionally fast to rotate out of stalling bets, ENHA’s path to a second occasion now relies on public-market persistence.
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