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Theranos was never fine because the tech they wanted to develop simply wasn't possible. Had they not lied, they would have crashed and burned anyway. > Many t
by catalogia 7y ago
Theranos was never fine because the tech they wanted to develop simply wasn't possible. Had they not lied, they would have crashed and burned anyway.
> Many try to pivot.
Theranos did. Originally they wanted the machines in every home, then they changed tack and tried to make more conventional testing equipment with fewer capabilities. Even then, what they wanted to do wasn't possible. Theranos was lead by a college dropout. The chance of them ever doing anything productive in the biomed industry was nil. They turned to fraud because everything else they tried failed.
- icedchai 7y agoI have read "Bad Blood" and am convinced Elizabeth Holmes believed they could actually make the tech work, given enough time and resources. It was fraud, but it didn't start off that way. I felt it was "fake-it-til-you-make-it" that got out of control. FYI, lots of great companies were built by college dropouts. Microsoft, Apple, Facebook... on and on. That has nothing to do with it.
- avgDev 7y agoAll the companies you listed are different though. Early on people were telling Holmes that whatever she wanted to do WAS NOT POSSIBLE. It became a fraud very early on.
- icedchai 7y agoI understand. But with enough "smart" people, enough money, and enough time, she may have really believed it was possible, eventually. Were all those investors duped?
- nabla9 7y agoConmen often start as delusional and incompetent. Like all really good cons, you need to select good marks to pull it off. The way investors believed that someone else must have done due diligence on the product and the technical background was probably engineered from the start.