4 ms·
Theranos is not an outlier. From my experience in biotech its pretty common "to stretch" the truth and hide/not mention inconvenient facts. Not many get to mult
by readhn 10y ago
Theranos is not an outlier. From my experience in biotech its pretty common "to stretch" the truth and hide/not mention inconvenient facts. Not many get to multi billion evaluations but many do get multi million funding this way.... And then go bust.
- eli_gottlieb 10y agoA family member of mine left a biotechnology job for similar reasons: death-march management, disrespect for scientists, and the obvious fact that the only purpose of the company was to pile IP into a closet, never to ship a product. It was a straight-up exploitative scam, but for people with PhDs.
- readhn 10y agoYep. The patenting process - talk about stretching the truth - a lot of the stuff is put in there just so other potential companies would be blocked from doing work in this direction. Not based on solid science and results but just ideas and speculations of the management. I have seen many cases (in biotech startups) where good knowledgeable scientists would try to do what is right and would end up getting fired or forced out of companies. The worst is when management completely takes over and disregards science for business purposes - seems like what happened with Theranos.