Investors lost millions due to false claims from "summary" of Bad Blood by John Carreyrou
Investors who had poured their money into Theranos were left reeling when it became clear that the company's claims were based on falsehoods. The promise of revolutionary blood-testing technology had lured in high-profile investors, but as the truth came to light, their millions were at risk of disappearing. The deception ran deep within the company, with founder Elizabeth Holmes at the center of it all. She had painted a picture of a breakthrough technology that would change the face of healthcare, but in reality, the technology simply did not work. Despite this, Holmes continued to make bold claims and secure more investments, leading investors to believe that their money was in good hands. As the facade began to crumble, investors were faced with the harsh reality that their money was gone. The millions they had put into Theranos were now at risk of being lost forever, all because of the false promises and claims made by Holmes and her team. The fallout from this deception was enormous, leaving investors with a bitter taste in their mouths and a lesson learned about the dangers of believing in something that seems too good to be true.
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