4 ms·

Classic misdirection move. The fundamental issue with this Sham company is that people claim their Testing Methodology gives inaccurate results - How do we fix

Classic misdirection move. The fundamental issue with this Sham company is that people claim their Testing Methodology gives inaccurate results - How do we fix that? By changing the irrelevant board to a sightly smaller size. I think this kind of move strongly indicates that they are in very big trouble. Walgreens should shut down their existing Theranos branded centers or risk getting sued... An incorrect number on a blood test could be a potentially life altering event for some one - NOT something you want a fraudulent "unicorn" to be putzing with.

bsbechtel 11y ago
>>An incorrect number on a blood test could be a potentially life altering event for some one - NOT something you want a fraudulent "unicorn" to be putzing with. My immediate reaction to this statement was what if bad behaving private VC-funded companies cause regulators to come down hard on the entire VC/startup ecosystem, and potentially cause serious collateral damage to the entire ecosystem? I don't know if this is something to be legitimately concerned about or not, but it just popped into my head as a systemic risk all VC backed companies face because of bad behavior from a few.
- bwilliams18 11y ago
  I don't think the things they are doing wrong is inherently tied to being a startup or being VC funded, at least from a regulatory point a view. They appear to be skirting existing FDA regulations, and that is the area that regulators will focus on and clamp down in.
  - bsbechtel 11y ago
    I think you're right. I just hope it stays that way.
- x0x0 11y ago
  My god, what if startups were forced not to defraud customers, to advertise honestly, and to assume liability for their products working? I mean, what type of world would that be?
ChuckMcM 11y ago
An alternative explanation is that some board members were concerned about personal liability and decided they would rather not serve any longer.
- eigenvalue 11y ago
  This seems much more likely to me as well. The likelihood of bad press and lawsuits suddenly outweighed the profit potential, and these board members probably wanted out. This is a "face saving" way of accomplishing that.
  - hockeybias 11y ago
    Agreed.
marincounty 11y ago
"Walgreens should shut down their existing Theranos branded centers or risk getting sued..." Yes--Yes, I believe that Theranos us a liability too. While I'm here; Wallgreen's refill you clients prescriptions--in a conscious manner! Vet each store, and make absolutely sure your pharmacists are calling the doctors office and getting an authorization for medication refills. (There seems to be a bit of a problem?) Furthermore, make sure they are filling out TAR authorizations? I know they are a pain, but a necessity? If anyone from Wallgreen's reads this; I'm not just nitpicking. Among Doctors and patients your getting a terrible reputation. Again--take the time to refill a prescription properly. We all want the best for your company, and you don't want to be know as the slacker among Pharmacies? It's not to late to turn it around.

bsbechtel 11y ago

>>An incorrect number on a blood test could be a potentially life altering event for some one - NOT something you want a fraudulent "unicorn" to be putzing with. My immediate reaction to this statement was what if bad behaving private VC-funded companies cause regulators to come down hard on the entire VC/startup ecosystem, and potentially cause serious collateral damage to the entire ecosystem? I don't know if this is something to be legitimately concerned about or not, but it just popped into my head as a systemic risk all VC backed companies face because of bad behavior from a few.

bwilliams18 11y ago
I don't think the things they are doing wrong is inherently tied to being a startup or being VC funded, at least from a regulatory point a view. They appear to be skirting existing FDA regulations, and that is the area that regulators will focus on and clamp down in.
- bsbechtel 11y ago
  I think you're right. I just hope it stays that way.
x0x0 11y ago
My god, what if startups were forced not to defraud customers, to advertise honestly, and to assume liability for their products working? I mean, what type of world would that be?

ChuckMcM 11y ago

An alternative explanation is that some board members were concerned about personal liability and decided they would rather not serve any longer.

eigenvalue 11y ago
This seems much more likely to me as well. The likelihood of bad press and lawsuits suddenly outweighed the profit potential, and these board members probably wanted out. This is a "face saving" way of accomplishing that.
- hockeybias 11y ago
  Agreed.

marincounty 11y ago

"Walgreens should shut down their existing Theranos branded centers or risk getting sued..." Yes--Yes, I believe that Theranos us a liability too. While I'm here; Wallgreen's refill you clients prescriptions--in a conscious manner! Vet each store, and make absolutely sure your pharmacists are calling the doctors office and getting an authorization for medication refills. (There seems to be a bit of a problem?) Furthermore, make sure they are filling out TAR authorizations? I know they are a pain, but a necessity? If anyone from Wallgreen's reads this; I'm not just nitpicking. Among Doctors and patients your getting a terrible reputation. Again--take the time to refill a prescription properly. We all want the best for your company, and you don't want to be know as the slacker among Pharmacies? It's not to late to turn it around.