“Well, there was a reason it always seemed to work, Shaunak said. The image on the computer screen showing the blood flowing through the cartridge and settling into the little wells was real. But you never knew whether you were going to get a result or not. So they’d recorded a result from one of the times it worked. It was that recorded result that was displayed at the end of each demo.”
“To anyone who spent time with Elizabeth, it was clear that she worshipped Jobs and Apple. She liked to call Theranos’s blood-testing system “the iPod of health care” and predicted that, like Apple’s ubiquitous products, it would someday be in every household in the country.”
“'When you strike at the king, you must kill him.' Todd Surdey and Michael Esquivel had struck at the king, or rather the queen. But she’d survived.”
“And Elizabeth was so persuasive. She had this intense way of looking at you while she spoke that made you believe in her and want to follow her.”
“Laboratories all over the world had been using these instruments for decades. In other words, Theranos wasn’t pioneering any new ways to test blood. Rather, the miniLab’s value would lie in the miniaturization of existing lab technology.”
“Instead of rushing to the stock market like their dot-com predecessors had in the late 1990s, the unicorns were able to raise staggering amounts of money privately and thus avoid the close scrutiny that came with going public.”
“Like her idol Steve Jobs, she emitted a reality distortion field that forced people to momentarily suspend disbelief.”
“By positioning Theranos as a tech company in the heart of the Valley, Holmes channeled this fake-it-until-you-make-it culture, and she went to extreme lengths to hide the fakery.”
“Hyping your product to get funding while concealing your true progress and hoping that reality will eventually catch up to the hype continues to be tolerated in the tech industry.”
“A sociopath is often described as someone with little or no conscience. I’ll leave it to the psychologists to decide whether Holmes fits the clinical profile, but there’s no question that her moral compass was badly askew.”
Gates Notes: The inside story of the Theranos scandal is almost too wild to believe.
The New York Times: ‘Bad Blood’ Review: How One Company Scammed Silicon Valley. And How It Got Caught.
The Economist: The rise and fall of Elizabeth Holmes, Silicon Valley’s startup queen
Financial Times: Bad Blood: Secrets and Lies in a Silicon Valley Startup, by John Carreyrou