Showing results by author "John Carreyrou"

In 2014, Theranos founder and CEO Elizabeth Holmes was widely seen as the female Steve Jobs: a brilliant Stanford dropout whose start-up “unicorn” promised to revolutionize the medical industry with a machine that would make blood testing significantly faster and easier. Backed by investors such as Larry Ellison and Tim Draper, Theranos sold shares in a fund-raising round that valued the company at more than $9 billion, putting Holmes’ worth at an estimated $4.7 billion. There was just one problem: The technology didn’t work.