Trust in the company eroded as scandals surfaced from "summary" of Bad Blood by John Carreyrou
As Theranos continued to grow, Elizabeth Holmes became a media darling, appearing on magazine covers and at prestigious events. The company's valuation soared to nine billion dollars, and its board included well-known figures like Henry Kissinger and George Shultz. However, cracks began to appear in Theranos's facade as journalists and former employees started to raise concerns about the technology behind its blood-testing devices. Holmes and her then-boyfriend, Sunny Balwani, dismissed the negative reports as the work of disgruntled former employees and competitors. They went on the offensive, launching a PR campaign to defend the company's reputation. However, as more whistleblowers came forward with stories of faulty technology and questionable practices, the truth could no longer be ignored. The Wall Street Journal published a series of damning articles that exposed the depth of Theranos's deception. The company's claims of revolutionizing the healthcare industry were debunk...
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