[PDF] John Carreyrou Theranos Article PDF (Theranos’ Bad Blood)

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John Carreyrou Theranos Article PDF
John Carreyrou Theranos Article PDF
No. Of Pages: 4
PDF Size: 535 KB
Language: English
Category: General
Source: Theranos’ Bad Blood

Elizabeth Holmes, a Stanford University student, created the health-care business Theranos in 2003. The company’s mission was to transform health care. Instead of developing a patch to deliver drugs, the company shifted its focus to developing a simple and effective blood diagnosis method. After dropping out of Stanford, Holmes began raising millions of dollars in venture capital. The business claimed that with just a prick of the finger, it could perform over 240 tests. In a few hours, test results could be provided to a patient’s phone, and a single test would cost less than half of what Medicare and Medicaid cover. Blood could be quickly identified without the need for a lot of blood drawn from patients’ veins or expensive laboratory tests.

By 2014, the firm had a market capitalization of $9 billion, with Holmes owning a controlling interest. Many investors funded the firm because of the technology’s potential. Holmes was featured in news magazines, appeared on television shows, and gave keynote talks at technology conferences. Investors’ enthusiasm and the technology’s potential, however, did not translate into success.

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