3 ms·
A lot of people here and in the media seem very troubled by Theranos and say it is a sham or a fraud. But a fraud upon whom? Theranos is a private company with
by falsestprophet 11y ago
A lot of people here and in the media seem very troubled by Theranos and say it is a sham or a fraud. But a fraud upon whom?
Theranos is a private company with a small number of sophisticated institutional investors: ATA Ventures, Continential Ventures, Draper Fisher Jurvetson, Tako Ventures, and Larry Ellison (founder of Oracle) [1].
These sophisticated investors presumably performed due diligence before parting with $400 million.
But then again, maybe journalists and internet commenters know more about this company than Draper Fisher Jurvetson and should all set off on lucrative careers as biotech venture capitalists.
[1] https://www.crunchbase.com/organization/theranos/investors https://www.crunchbase.com/organization/theranos/investors
- mik3y 11y agoBut a fraud upon whom? Perhaps customers who have, er, paid to send Theranos their _blood_?
- falsestprophet 11y agoThere is no evidence that the tests Theranos offered are inaccurate. The company has voluntarily discontinued them to allow the FDA to review them [1]. The controversy is principally about Theranos claims about technology it has yet to deploy and the company's high valuation [2]. [1] http://www.azcentral.com/story/news/arizona/investigations/2015/10/25/theranos-suspends-micro-blood-tests-allow-fda-review/74355082/ http://www.azcentral.com/story/news/arizona/investigations/2... [2] http://www.wsj.com/articles/theranos-has-struggled-with-blood-tests-1444881901 http://www.wsj.com/articles/theranos-has-struggled-with-bloo...
- deleted 11y ago[deleted]