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Most of what made Theranos a scam wasn't that their tech was impossible. It was that they were committing mass fraud by making a lot of claims about what they w
by chowells 5y ago
Most of what made Theranos a scam wasn't that their tech was impossible. It was that they were committing mass fraud by making a lot of claims about what they were doing that were false.
It seems like if your underlying technology actually works but you run the rest of your business with the same scams as Theranos, you qualify as Theranos-lite
- bpodgursky 5y agoTheranos gave patients clinical results based on technology was not accurate or reliable. The test results were practically random noise. That is dangerous and could have seriously hurt, or killed, someone. No amount of billing fraud, however egregious, could possibly match that level of irresponsibility.
- fastball 5y agoTheranos' tech is impossible though, as far as everyone else in the field is concerned. Blood from a finger prick is just not homogenous enough to give accurate levels of pretty much anything Theranos said they could test. The most egregious thing uBiome has been accused of doing basically amounts to insurance fraud, which isn't great but also isn't on the same level as lying to customers about the accuracy of the test results they've received. Insurance fraud isn't what made Theranos "Theranos" at all, so I wouldn't call a corp doing that "Theranos-lite".