The most fascinating part of Theranos was the calibre of investors the company had managed to assemble.
Not before they were made to sign an iron-clad non-disclosure agreement. To put things more succinctly, anyone that challenged the practices of the company was shown the door. This led to a couple of people leaving and the overall employee turnover wasn’t encouraging.
With the company breaking medical ethics, its sharp practices did put some of her staff, whose conscience wasn’t seared at a crossroad. With a treasure chest, the size of the annual budget of some African countries and a ballooning valuation, the company employed some of the best legal hands to chase and intimidate anyone that was going to uncover its wrongdoing. Her flagship products, Edison and miniLab, probably worked 2 out of every 10 attempts. Instead, Theranos used commercial analyzers from Seimens for the analysis. The major problem here was that these devices didn’t work. The miniLab was an improvement to the first version, Edison. Theranos claimed it developed a medical device called “Edison,” later miniLab with codename “4S,” a node to Steve Job’s iPhone 4S, a man she had come to admire and idolize. This is amazing and a feat in medical sciences, considering these kinds of test were always conducted from blood gotten from the vein. Theranos claim to fame was a small medical device that the company claimed could conduct more than 100 laboratory test from blood gotten from the prick of a finger. In the book, John laid account of how Ms Holmes lied to her board, investors and the general public about a breakthrough in laboratory testing that her company, Theranos, had pioneered. Elizabeth, who owned more than 50% of the company, according to Forbes was worth approximately $4.5B. Written by John Carreyrou, the book chronicles the fall of Theranos, a once beloved Silicon Valley darling, whose at its peak, commanded a valuation of about $9B, making its founder, Elizabeth Holmes, a Standford dropout, one of the self-made billionaires in Silicon Valley. Bad Blood, in my opinion, should be the book of the year for 2018.
0 kommentar(er)
