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Not accurate. Theranos's investors, board and outside stakeholders where by design people with no medical or related experience.
by bksenior 8y ago
Not accurate. Theranos's investors, board and outside stakeholders where by design people with no medical or related experience.
- threeseed 8y agoAlso in the Theranos case there really was only one major customer i.e. Wallgreens who then failed to do proper due diligence. Here you have multiple car manufacturers involved who specialise in vetting new technology for mass production.
- x0x0 8y agoWe're in a post-Theranos world. Companies are going to be getting a little extra scrutiny. Also, as near as I can tell, Theranos got their later investment rounds by being willing to wildly lie. IIRC, they claimed something like $100e6 of revenues where the actual number was approx $100e3 [1]. That is probably going to (slowly) lead to criminal liability for some of the principals. Here (as parent mentioned) you have battery companies investing in a battery company. [1] https://www.cnbc.com/2018/03/14/theranos-president-exaggerated-revenue-by-1000x-says-sec.html https://www.cnbc.com/2018/03/14/theranos-president-exaggerat...
- GW150914 8y agoWe're in a post-Theranos world. Which was in turn in a post-Enron world. The one sure way to make sure that crap can keep happening is to pretend that something has really changed, so it can’t happen again. It can, stay vigilant.