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Back in the early 2000s, Theranos was set to be the next big company to disrupt technology, following the steps of Apple and Facebook, promising to democratize healthcare as we know it. But the Palo Alto company, along with its former CEO Elizabeth Holmes, fell from might after journalists uncovered allegations of fraud. Had it not been all fake, Theranos would have radically changed blood testing as we know it. Here are the shocking details that you should know about the once-multibillion dollar company before (or even after) watching HBO's documentary The Inventor, which traces Holmes's fall from power in Silicon Valley.
Stanford - College - Dropout - Holmes - Theranos
As a Stanford college dropout, Holmes started Theranos in 2003, combining the words therapy and diagnosis for her brand. By the end of the next year, she had raised $6 million for her young company, drawing mostly from family friends. Theranos eventually developed a prototype of a device called the Edison, named after the prolific inventor. The product was said to use only the blood from a finger prick to run hundreds of tests that would detect a gamut of diseases — as opposed to deploying a needle syringe and taking much more blood from a vein.
The company was secretive and published virtually no data in peer-reviewed journals to show that it had clinically valid results from their machine. While scientists questioned the details of the biotechnology, investors poured money into Theranos. Its board included political heavyweights like Henry Kissinger and George...
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