A defunct health care corporation invented by Elizabeth Holmes that was once considered revolutionary in conducting blood tests that required only a finger-
prick but there was one big problem; it was too good to be true. It was a big sham. The technology was worthless (engineers with their
PhD's couldn'
t get the blood testing equipment to work), the tests were highly inaccurate (one example; a patient complained about ringing in her ears, Theranos test said she was at risk of having a
stroke, her
doctor thought something seemed off, gave her a real blood test and it turned out the symptoms were just the result of insomnia!), investors were mislead despite a boatload of red flags (Theranos never demonstrated the technology and showed them the labs. Investors just liked the cool idea of a test requiring just a drop of blood), the company was tyrannical
chaos and mistreated their employees pretty harshly, etc.
Holmes and her equally scummy partner/
sugar daddy Sunny Balwani have been indicted for wire
fraud. Just read the book "Bad Blood: Secrets and Lies in a Silicon Valley Startup" by John Carreryrou if you want to get the full details. A must-read.
