Founder of Theranos, Elizabeth Holmes is in trouble
Elizabeth Holmes is in trouble as her firm, Theranos, made a promise that it would revolutionize consumer health, and at first would make blood testing easier and more affordable. But, presently, the firm and its lofty promises are facing crisis. Theranos would need something more than good marketing and lawyers to steady the ship.
Since the beginning of her venture in 2003, Elizabeth Holmes has claimed that using a single pinprick of blood, her technology would give results to people that they required to get a timely and convenient diagnosis, whether for an acute or chronic illness. The idea was quite appealing to boost the value of Theranos to $9 billion.
However, a Wall Street Journal article past week, punched main holes in the claims of Theranos. The raised questions included, ‘Does Theranos really depend on its own technology or others’ equipment’? ‘How do the firm’s results compare with those of other, more traditional, labs’? and the third question was ‘Is a pinprick of blood sufficient blood to reliably test anything’?
The firm didn’t respond to a request for comment on Monday. At the firm’s Palo Alto headquarters, Holmes said that if people really start understanding their bodies, it would help them in turning around their lives.
The board members of the firm included, Henry Kissinger and George Shultz, both former secretaries of states, and Bill Perry, former defense minister, and also former elected officials. An epidemiologist and former director of the Center for Disease Control and Prevention, William Foege and other highly skilled professionals round out the enviable composition of board. Holmes is the biggest shareholder and the youngest female paper billionaire.