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Niket Raj Dwivedi
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MedialĀ ā¢Ā 1y
The Theranos Fraud - One of the biggest scam startup to be caughtš¢ (Startup Nugget Series - Story 3) Elizabeth Holmes, the wunderkind who promised to revolutionize healthcare with Theranos. š©øš Sounds amazing, right? Well, hold onto your hats! Holmes, with her Steve Jobs vibe, convinced everyone that Theranos could run a gazillion tests with just a few drops of blood. Investors, including big shots like Rupert Murdoch, were hooked. The hype train reached a staggering $9 billion valuation. šš° But guess what? Behind the scenes, it was all smoke and mirrors. šŖ Former employees spilled the tea on a culture of secrecy and fear. Turns out, the Edison machines, the supposed miracle workers, were pumping out more fiction than a Netflix drama. Journalist John Carreyrou took a deep dive, exposing the Theranos drama in The Wall Street Journal. šµļøāāļø Cue the unraveling. Turns out, those groundbreaking blood tests? Total bogus. Patients got inaccurate results, and Theranos was diluting samples to cover its tracks. Fast forward to 2018, Holmes faced the SEC's wrath, charged with massive fraud. šØ The once Silicon Valley queenpin now defending herself in court. The lesson here? Not every disruptor is a hero. š¦øāāļø Sometimes, the promise of change masks some serious shadiness. Theranos is not just a tech fail; it's a wild ride through the consequences of ambition gone haywire. š¢ Trust shattered, lives affected ā a cautionary tale for every tech dreamer out there.
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