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I 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
by creaghpatr 9y ago
I 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.