Login

Post on Medial

Niket Raj Dwivedi

 • 

Medial • 9m

The Theranos Fraud - One of the biggest scam startup to be caught🎢 (Startup Nugget Series - Story 3) Elizabeth Holmes, the wunderkind who promised to revolutionize healthcare with Theranos. 🩸💉 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. 🚂💰 But guess what? Behind the scenes, it was all smoke and mirrors. 🪞 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. 🕵️‍♂️ 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. 🚨 The once Silicon Valley queenpin now defending herself in court. The lesson here? Not every disruptor is a hero. 🦸‍♀️ 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. 🎢 Trust shattered, lives affected – a cautionary tale for every tech dreamer out there.

5 replies21 likes
Replies (5)

More like this

Recommendations from Medial

Image Description
Image Description

Mr Z

 • 

Medial • 27d

Look at this woman. At 19, she dropped out of college. Raised millions from the biggest names for her tech company. Then built a $9 billion empire. And now she’s in prison. Here’s is the story of the greatest Silicon Valley disaster: Elizabeth

See More
18 replies24 likes

Vedant Tiwari

Stealth • 3m

This is the most Infamous StartUp failure in History…… “Back in 2003, Stanford University's dropout, Elizabeth Holmes, wanted to build a device that could perform many tests with just a few drops of blood.” “That was a great idea, and she got initi

See More
0 replies5 likes
Image Description
Image Description

SomeGuyOnMedian

Stealth • 4m

The only that scares me is what if Medial also turns out to be like Linkedin? A constant soup of motivational shit show and corporate cringe.

2 replies5 likes
Image Description
Image Description

Anomaly

Stealth • 8m

What was the saddest moment in life which turns out to be most happiest?

3 replies7 likes
Image Description

Dewansh Sharma

Stealth • 26d

I've designed a blood clotting spray which can prevent loss of deaths due to blood loss in road accidents and looking for invester

1 replies4 likes
Anonymous
Image Description
Image Description

Anonymous

Stealth • 4m

It's a moral duty to return unused capital. No need to create emotional drama out of it. You had raised money, you didn't succeed, you returned money. Simple.

4 replies12 likes

Samrat Mukherjee

Stealth • 4m

Every start of the quarter, there's more drama between zkSync and Polygoons than in an entire season of a dramatic Indian soap opera!🙂

0 replies4 likes
Image Description
Image Description

Arcane

Stealth • 4m

ONE INTERESTING OBSERVATION SERIES DAY #2 With the surge in digital payments, UPI has become the most popular payment method in India. However, it's also the most targeted by fraudsters. In 2022, UPI accounted for a staggering 55% of all fraud case

See More
10 replies10 likes
Image Description

AjayEdupuganti

Stealth • 4m

Koo shut down trying to replace Twitter (X). Twitter thrives on drama and toxicity, and Koo thought they could do build a platform free of this toxicity. Newsflash: no drama, no audience.

1 replies4 likes

Nikhil Suryanarayanan

Stealth • 5m

After successfully automating the deployment of JAR files, I'm now tackling a more complex challenge: automating the deployment of Node.js applications across various popular JavaScript frameworks. It's definitely more complicated, but I'm optimistic

See More
0 replies5 likes

Download the medial app to read full posts, comements and news.