Theranos, Elizabeth Holmes, and the Cult of Silicon Valley
Fraud female entrepreneur Elizabeth Holmes became a Silicon Valley celebrity after she dropped out of Stanford University at 19 to start a biotech company called Theranos (therapy+diagnosis). Reason sat down with John Carreyrou, the Wall Street Journal reporter who unmasked the medical fraud behind Holmes's growing empire. She is now facing serious charges, is ruined, and has set women in science and business back a few years.
Who is Holmes?
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| You CAN'T arrest me! (femen.org/en) |
Theranos is a privately held health technology company known for its false claims to have devised revolutionary blood tests using very tiny amounts of blood.The company was lauded as a major challenger to existing companies before it was revealed that the company had lied about its core capabilities.
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| I'm an angel (Hughes) |
Investors and the media hyped Theranos as a breakthrough in the large blood testing market, where the US diagnostic-lab industry posts annual sales of over $70 billion. Theranos claimed its technology was revolutionary for a number of reasons.
At the time, Theranos said its tests required only about 1/100 to 1/1,000 of the amount of blood that would ordinarily be needed and cost far less than existing tests.
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| Should women stick to fashion, Old Boys? |
Since then, Theranos has faced a string of legal and commercial challenges from medical authorities, investors, the U.S. Securities and Exchange Commission, Centers for Medicare and Medicaid Services, state attorneys general, former business partners, patients, and others. More
Bad Blood author and WSJ reporter John Carreyrou: She's a fraud!
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