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Whilst I take absolutely no pleasure in reading stories about how previously high-flying companies have hit the skids, it will be interesting to understand how things at Theranos were able to get quite as out of hand as they clearly were.
Elizabeth Holmes must be a very impressive character - to be aged under 30 and own a majority share in a company valued at over $9bn is nothing short of remarkable. She was able to bring in some very respected investors that invested a total of $724m, and surrounded herself with pillars of the technology and medical communities as advisors. How then, did things unravel quite so spectacularly? It will be interesting to read the reports as they surface - lets hope its not in the form of a post-mortem.
Elizabeth Holmes, the once celebrated founder of Theranos, sat at number one on Forbes list of richest self-made women last year but has taken quite the tumble – the media outlet has since revalued her net worth to zilch. Holmes, 31, comes from a family with powerful political connections – both parents held important government positions in Washington – which helped her get her start and Holmes was reportedly worth $4.5 billion in stock for her blood analysis company. But her startup, once valued at more than $9 billion for its proprietary technology, hit a series of business failures and is now under investigation by several federal agencies and faces possible criminal charges from the Securities and Exchange Commission.
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