Wall Street Journal Exposes Theranos Scandal
Noted for its inexpensive blood tests, Theranos is now hailed as the inventor of the next primary medical innovation. The company is founded by Elizabeth Holmes who is now being acclaimed as the next Steve Jobs. But today, Wall Street Journal exposes Theranos scandal. According to Wall Street Journal, Theranos is clearly not meeting up to the expectations as promised. It also revealed that the company is doing a great job in concealing the difficulties the company is facing.
Wall Street Journal has been investigating for months and discovered that majority of Theranos’ blood tests did not use the technology to which the company asserted can run tests using just a little amount of blood. Apparently, the results are delivered by conventional machines from Siemens. In addition, the article indicates that in proficiency tests, the Edison machines owned by Theranos would deliver completely different results as compared to the results from the conventional machines. Internal emails also divulge that the inconsistencies are being hidden by the company. Theranos has challenged most of the claims by the Wall Street Journal. These claims are condemning and depict Theranos to be an Oz-like company. It appears to be offering huge consciousness for the society but in reality, there are cover ups happening inside. The story also revealed that there is a bigger problem to which Silicon Valley is trying to make the hype turn to startup gold.
It was only in her dorm room when Elizabeth Holmes started Theranos. Story says that in a span of 10 years, Holmes managed to keep the company is secrecy. She says very little about the organization and choose only peer-viewed journals to reveal the results. But still during those times, tech investors Larry Ellison and Draper Fisher Jurvetson would continue to generously give money into the company. The company’s worth is now $400 million at a $9 billion valuation.