Theranos: Biggest failure of corporate governance in history

  • Elizabeth Holmes built her company Theranos on this invention she named the Edison. A miniaturized blood analyzer that would disrupt the $60 billion lab testing industry dominated by giants LabCorp and Quest Diagnostics.
  • By February 2015 the Theranos fairytale was about to unravel publicly.
  • John Carreyrou, the Wall Street Reporter who broke the story on Holmes and Thernos said “She (Homes) is a pathological liar. She wanted to be a– celebrated tech entrepreneur. She wanted to be rich and famous. And she wouldn’t let anything get in the way of that.
  • For the media, Elizabeth Holmes’ story proved irresistible: a bright young woman revolutionizing blood testing, in Silicon Valley no less. Fortune magazine put her on their cover. Forbes named her one of the richest self-made women in the world. Time selected her as one of its 100 Most Influential People.
  • To this date, most people in the media are not being held accountable for their part in building up Ms Holmes without asking tough questions.

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