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They pay rent on Page Mill Road and have multiple lawsuits pending, last I heard, so I'm wondering how far that cash would actually take them. Also, if Elizabet
by corvallis 9y ago
They pay rent on Page Mill Road and have multiple lawsuits pending, last I heard, so I'm wondering how far that cash would actually take them. Also, if Elizabeth Holmes insists on the same level of control without any biomedical credentials, how realistic is a reboot? I would very much like to know the reasoning that any funding providers would use to justify their support.
- creaghpatr 9y agoI guess Fortress thinks they can get a return on the assets, whatever they are. Could be a power play too, if you look at Theranos board there are a surprising amount of political players which could be advantageous for the SoftBank-owned Fortress. Edit: looks like most of the original board members are gone post-scandal. But for reference here’s who was on it previously http://fortune.com/2015/10/15/theranos-board-leadership/ http://fortune.com/2015/10/15/theranos-board-leadership/
- corvallis 9y agoInvestment groups that buy troubled assets are beyond my scope of understanding, but is that what is happening here? It sounds like Theranos is purporting to have a functioning product/business plan in the near future. I work in medicine so my colleagues and I have been following this farce for several years. When so many advancements and biomedical research can benefit from such funding, why throw money at this fraudulent company? Edit: Many thanks to users hkmurakami and ukulele above for explanations/clarifications.
- hkmurakami 9y agoThey moved everyone to their Newark manufacturing office. (I was wondering why the lights were completely out at 7pm on a Wednesday this week). I've also seen an ad for subleasing the space relatively recently (Nov or so) so perhaps they have not found sublettors yet.
- staticautomatic 9y agoThe suits will probably be settled in the single to double digit millions.