John Carreyou, of The Wall Street Journal, first broke the story in 2015. Thanks to information given by Theranos whistleblowers, it was revealed that the establishment had not been running its own technology when conducting the majority of its blood tests. Instead, it had been relying on commercially-available machines from companies such as Siemens. In the ocRain Speake dives into a company that based its casions where the Edison was used, the results presented were found to be radgroundbreaking technology on lies. ically different from those produced by existing tech on the market. Thus, any ilicon Valley is a region nestled as we know it. This pioneering piece of technology results sent out to real patients were all in the southern part of the San Francisco Bay Area in Northern was the brainchild of Founder and fundamentally incorrect. To add furCalifornia. It serves as a global hub for CEO, Elizabeth Holmes. Saddened by ther dismay, former employees also reemerging scientific breakthroughs and her uncle’s death from cancer, Holmes vealed that the culture was filled with disruptive technology and thus, is wanted to develop a way to detect dis- secrecy and intimidation. Continuous widely known as the epicentre of in- eases earlier. As a result, she dropped lies were fed to members of the board, novation. The area is home to some of out of Stanford in her sophomore year and those who tried to raise concerns the world’s most influential companies, to found the company using her tuition were simply ignored or fired by boasting residents that include Apple, money. The combination of the Holmes herself. At first, these shocking allegations Facebook, and Google. As the centre of device’s outstanding claims paired with research and development, the Valley Holmes’ notable charisma led to the were vehemently denied. However, is also the birthplace of many exciting influx of numerous multi-million dol- FDA investigations ensued and destart-ups which encompass a multitude lar investments. By 2014, Theranos was clared that the company had been built of different industries. These industries valued at a whopping USD 9 billion, on nothing but a complete and utter can range from artificial intelligence making Holmes the world’s youngest facade. In 2018, Holmes eventually stepped down as CEO and fintech, to blockchain and medical “...the company seemed to be and was subsequently technology. In a world where individucharged with criminal als are becoming increasingly more offering a device that could conscious about their health, the potentially transform healthcare as fraud and conspiracy. Her trial is expected to growth of the latter market shows no we know it.” take place in March sign of deceleration any time soon. In the first half of the last decade, a self-made female billionaire at the age 2021 where she possesses the potential medical technology start-up known as of 31. Donning an identical black tur- to face up to 20 years in prison. Theranos is a cautionary tale of Theranos, became one of Silicon Val- tleneck, Holmes was frequently hailed ley’s most promising rising stars. Its as the next Steve Jobs and was similarly what can happen when ‘over-hype’ ground-breaking invention, the Edison perceived as a celebrity within tech mentality creeps into areas that require machine, claimed to perform a series of circles. Due to her success, she went on much more regulation than software. diagnostic tests from the comfort of to grace the covers of Forbes and For- Trial and error approaches conducted your own home. While existing tech- tune, and was even named one of on human individuals can be particunologies require at least one vial of Time’s “100 Most Influential People” of larly harmful in sectors such as medicine. In summary, these events blood, Theranos professed capabilities 2015. To a common outsider, Holmes and demonstrate the realities of fraud and in conducting complex genetic analyses and hormone level measurements from Theranos appeared to be flying high deception within the science and techa simple prick of the finger. Fast, con- with limitless boundaries. The only nology community. They also portray venient, and inexpensive, the company problem? This supposedly revolution- the importance of publishing peer-reseemed to be offering a device that ary device that was projected to change viewed studies, and provide a clear testament of what can happen if loopholes could potentially transform healthcare the world, did not actually work. in the system are exploited by superfi14 | SATNAV | June 2021 cial claims and audacious lies.
Blood, Sweat & Tears: The Saga of Silicon Valley’s Greatest Scandal
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