4 ms·
Theranos is clearly a failure. 14 years of wasting investors money, 700million (?) down the drain, nothing to show for it except bad publicity, FBI and FDA inve
by readhn 9y ago
Theranos is clearly a failure. 14 years of wasting investors money, 700million (?) down the drain, nothing to show for it except bad publicity, FBI and FDA investigations and major compliance issues.
At what point do investors pull the plug / fire CEO and move on?
- readhn 9y ago686.3million in 9 rounds (!!) to be exact. this is like a bad soap opera. they were seeking to raise additional 200million. These VCs are insane. IF (!!!) this ever worked they would be - 1billion before shipping any product. Whoever puts anymore money into this should ask for at this point majority of the equity no questions asked.
- raverbashing 9y agoI think Color was worse, no? (Edit: actually no, they raised "only" 41Mi)
- pcsanwald 9y agoIt's not clear that investors _can_ fire Holmes.
- jonnathanson 9y agoThey probably can't, or it would have happened by now.
- dbcooper 9y agoI'm guessing when all claims from creditors/investors have been settled. Liquidation with the remaining capital divided up among them.
- deleted 9y ago[deleted]