Question
'Bad Blood' relates the story of Theranos to contemporary issues of corporate governance and investor fraud by detailing how the company's founder, Elizabeth Holmes, misled investors, board members, and the public about the capabilities of their technology. The book highlights the lack of proper oversight and due diligence by the board and investors, which allowed the fraud to continue for years. It serves as a cautionary tale for investors and corporations on the importance of transparency, accountability, and proper governance.
This question was asked on:
Elizabeth spent the summer of 2003 interning at the Genomics Institute of Singapore. While using syringes and nasal swabs to test patients for the SARS epidemic, she was convinced there had to be a better way. On her return, she worked non-stop for five days to come up with a patent application for an arm patch that could detect medical conditions and administer suitable drug dosages. When Channing Robertson saw it, he was impressed with her drive and inventiveness in synthesizing different pieces of science and engineering. He encouraged her to drop out and start a new venture. Elizabeth incorporated her startup as Real-Time Cures, which she later changed to Theranos. Channing Robertson joined the board and Shaunak Roy became the first employee. Tim Draper, the famous venture capitalist, invested $1 million. To investors, she pitched the idea of a Therapatch, a sort of a band-aid that would draw blood painlessly, analyze it and deliver a suitable drug dosage. The readings would be ins...
Receive new free presentations every Monday to your inbox.
Full content, complete versions — No credit card required.
