Free read Bad Blood 108

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Free read Bad Blood 108 ´ ✭ [PDF] ✪ Bad Blood By John Carreyrou ✺ – Johns-cycling-diary.co.uk The full inside story of the breathtaking rise and shocking collapse of a multibillion dollar startup by the prize winning journalist who first broke the story and pursued it to the end in the face of The full inside story of the breathtaking risOuld make blood tests significantly faster and easier Backed by investors such as Larry Ellison and Tim Draper Theranos sold shares in a fundraising round that valued the company at billion putting Holmes's worth at an estimated billion There was just one problem The technology didn't workFor years Holmes had been misleading investors FDA officials and her own employees When Carreyrou working at The Wall Street Journal got a tip from a former Theranos. Tips on how to make an unicorn Be a sociopath Excel at salesmarketing Get some cool people on your BoardTips to how to fake it till you make it Hire a lot of lawyers Intimidate all your employees Pretend that you are a vocal proponent of a cause that you are actually againstHow to make it as a woman in the tech world Baritone Intese staringWhat can fuck up your amazing future as a tech billionaire Facts and data I love any story that shows how salesmarketing can change the world This one is awesome Scary but awesome

John Carreyrou ✓ 8 Free read

Employee and started asking uestions both Carreyrou and the Journal were threatened with lawsuits Undaunted the newspaper ran the first of dozens of Theranos articles in late By early the company's value was zero and Holmes faced potential legal action from the government and her investors Here is the riveting story of the biggest corporate fraud since Enron a disturbing cautionary tale set amid the bold promises and gold rush frenzy of Silicon Valle. Early in my career I worked at a next generation seuencing startup with Theranos level ambitions In fact it went further The founders’ mission was to cure aging Literally the goal was immortalityThere were other similarities The company was founded by wunderkinds they won the attention and support of a prominent professor in the field they dropped out and raised millions of dollars from non hard tech investors off the back of a concept then tens of millions of dollars off the back of a glued together prototype all while pursuing a fantastical goalThe company was wild but not fraudulent uite the contrary When the founders realized that the technology was not going to work or would take many years to validate they decided to fold the company All of the scientists even the skeptics were shocked and disappointed We were on the verge of breaking through in key areas But it was overAnd the irony Many of those scientists went on to work at Theranos It was just down the streetBy 2012 they had all left Theranos ‘It's too crazy’ ‘It’s way worse’ Way worse than an immature company that blew up on a whim I started following Theranos the Glassdoor reviews the funding announcements the glowing press coverage It was surreal to know that the company was a fraud and yet to see it riseCarreyrou exposed it all How Holmes and Balwani drove an employee to suicide how they strong armed employees investors even generals and statesmen how they lied to win multi million dollar deals from credulous partners The pulp in Bad Blood is juicy I read the book on one overseas flightTheranos is extreme but not singular Silicon Valley lionizes founders and ‘overnight’ 100X successes Investors are pushed pulled toward a hands off approach Founders retain board control and investors don’t meddle This environment is prime for fraud My management philosophy In a vacuum everyone cuts corners Everyone gets lazy And unscrupulous people do worseA couple years ago I tweeted ‘At what point do high profile unicorn frauds irreparably damage the philosophy and practice of founder friendly investors’ That was about Hampton Creek It could have been about Zenefits or Uber in a sense or of course Theranos Who will be next The odds on favorite is WeWork Does Tesla a public company count The whisper consensus has many candidatesThere are many frauds left to be exposed But none as big as Theranos Well maybe one or two

Summary ☆ eBook, ePUB or Kindle PDF ✓ John Carreyrou

Bad BloodThe full inside story of the breathtaking rise and shocking collapse of a multibillion dollar startup by the prize winning journalist who first broke the story and pursued it to the end in the face of pressure and threats from the CEO and her lawyersIn Theranos founder and CEO Elizabeth Holmes was widely seen as the female Steve Jobs a brilliant Stanford dropout whose startup unicorn promised to revolutionize the medical industry with a machine that w. I don’t read a lot of page turners I often find myself unable to put a book down—but they’re not the kinds of books that would keep most people glued to their chairs Still I recently found myself reading a book so compelling that I couldn’t turn away Bad Blood Secrets and Lies in a Silicon Valley Startup by John Carreyrou details the rise and fall of Theranos If you aren’t familiar with the Theranos story here’s the short version the company promised to uickly give you a complete picture of your health using only a small amount of blood Elizabeth Holmes founded it when she was just 19 years old and both she and Theranos uickly became the darlings of Silicon Valley She gave massively popular TED talks and appeared on the covers of Forbes and FortuneBy 2013 Theranos was valued at nearly 10 billion and even partnered with Walgreens to put their blood tests in stores around the country The problem Their technology never worked It never came close to working But Holmes was so good at selling her vision that she wasn’t stopped until after real patients were using the company’s “tests” to make decisions about their health She and her former business partner are now facing potential jail time on fraud charges and Theranos officially shut down in AugustThe public didn’t know about Theranos’ deception until Carreyrou broke the story as a reporter at the Wall Street Journal Because he was so integral to the company’s demise Bad Blood offers a remarkable inside lookSome of the details he shares are—for lack of a better word—insane Holmes would invite prospective investors to the lab so they could get their blood tested on a Theranos machine The device had been programmed to show a really slow progress bar instead of an error message When results didn’t come back right away Holmes sent the investors home and promised to follow up with resultsAs soon as they left an employee would remove the blood sample from the device and transfer it to a commercial blood analyzer Her investors got their blood tested by the same machines available in any lab in the country and they had no ideaThere’s a lot Silicon Valley can learn from the Theranos mess To start a company needs relevant experts on its board of directors The Theranos board had some heavy hitters—including several former Cabinet secretaries and senators—but for most of the company’s existence none of them had any expertise in diagnostics If they had they might have noticed the red flags a lot soonerHealth technology reuires a different approach than other kinds of technology because human lives are on the line Carreyrou writes a lot about how Holmes idolized Steve Jobs and his unwillingness to compromise on his vision That approach is okay for consumer electronics—if a new phone doesn’t work as promised no one gets hurt—but it’s irresponsible for a health company Holmes pushed a vision of what Theranos could be not what it actually was and people suffered as a result Bad Blood is also a cautionary tale about the virtues of celebrity On the surface Holmes was everything Silicon Valley loves in a CEO charismatic and convincing with a memorable personal story made for magazine profiles There’s nothing wrong with that on its own A rock star CEO can be a huge boon for a startup But you can’t let fame become the most important thingTheranos is the worst case scenario of what happens when a CEO prioritizes personal legacy above all else—but I hope that people don’t use it as an excuse to write off the next young woman with a big idea I also don’t want Bad Blood to scare people away from next gen diagnostics Theranos went to extraordinary lengths to get around uality standards The industry is highly regulated and new diagnostics undergo rigorous testing Bad Blood tackles some serious ethical uestions but it is ultimately a thriller with a tragic ending It’s a fun read full of bizarre details that will make you gasp out loud The story almost feels too ridiculous to be real at points no wonder Hollywood is already planning to turn it into a movie I think it’s the perfect book to read by the fire this winter