Science is science, its not art, it works or it doesn’t. That being said I don’t know anything about blood testing except that its part of my medical checkups. They pay for what they pay for. Is it what I need, not totally. Its a combination of what they can get away with and what societal presses they feel obligated to pay for. Such is medicine today.
Busted Unicorns happen for several reasons. One is what I call “Madoff Syndrome”, thinking someone else did the due diligence. I think, unless they can prove it, that Theranos suffered from Madoff Syndrome.
Well its time to lift up your skirts and show us it works to a verifiable third party. This deal has always seemed to me a blink deal, big market, passionate youthful founder, lots of big companies as liquidity event, whats not to like. Whats not to like is what started out as yes good idea, to the expansion of that idea, towards it works and it scales and FOMO, yes, investors have that too. They should know better. And everyones due diligence was done by someone else.
It would be nice if the guilty got punished. They probably will not.
As I get older I prefer to do less better and that usually means slower.
Theranos is a busted deal. Can it survive without its founder? Do you still trust its founder? Its busted and will probably end up as a study at Harvard Business School
http://www.wsj.com/articles/at-theranos-many-strategies-and-snags-1451259629