/Pg 235 0 R 174 0 obj /P 50 0 R << /Rotate 0 67 0 obj >> CNMN Collection >> /P 310 0 R << /S /LI 263 0 obj Early on, experts inside and outside of the company questioned the technology. 59 0 obj /P 271 0 R /K 2 /Annots [] << << >> /Kids [250 0 R 251 0 R 252 0 R 253 0 R 254 0 R 255 0 R 256 0 R 257 0 R 258 0 R] 92 0 obj /S /LI >> /Pg 247 0 R /P 63 0 R The University recognizes the importance of its location in New York City and . /Lang (EN-US) /S /P /MediaBox [0 0 612 792] << /Lang (EN-US) endobj /Endnote /Note << /Annots [] /K 1 /K 393 0 R Elizabeth Holmes, the infamous biotech chief executive who promised to revolutionize blood testing, has been found guilty of fraud. endobj /P 48 0 R /S /LI /Annots [] /K 121 0 R The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Cond Nast. /P 48 0 R << 170 0 obj << /K 28 endobj << /S /P >> /P 8 0 R /P 335 0 R << /S /LBody << /Pg 256 0 R /Lang (EN-US) It involves a dream, a mission, a plan, a vision and quite possibly monumental corruption. /P 8 0 R << /P 8 0 R << 119 0 obj 87 0 obj /S /P /S /LBody << endobj /P 8 0 R >> /Lang (EN-US) /Type /Catalog 283 0 obj According to the indictment, the defendants also allegedly made numerous misrepresentations to potential investors about Theranoss financial condition and its future prospects. >> Mutual Fund and ETF data provided byRefinitiv Lipper. /Annots [] /Type /Page /Parent 12 0 R >> /S /LBody /P 48 0 R GET FOX BUSINESS ON THE GO BY CLICKING HERE. /K 133 0 R /P 8 0 R 61 0 obj /P 378 0 R /K 21 endobj /K 25 endobj endobj endobj /Pg 235 0 R << /CropBox [0 0 612 792] Theranos is headquartered in Palo Alto, CA. /K 37 /P 44 0 R Use of and/or registration on any portion of this site constitutes acceptance of our User Agreement (updated 1/1/20) and Privacy Policy and Cookie Statement (updated 1/1/20) and Ars Technica Addendum (effective 8/21/2018). endobj /Lang (EN-US) /Lang (EN-US) /K 183 0 R /S /LBody /Pg 257 0 R /StructParents 14 By 2017, scientific and medical and technical boards were established. << >> Theranos founder and CEO Elizabeth Holmes speaks at the Fortune Global Forum in San Francisco, California, on Monday, Nov. 2, 2015. /Pg 235 0 R << endobj /K 124 0 R >> /K 182 0 R >> Four Blind Spots at the Core of Theranos' Failure. /S /LBody /Annots [] /Pg 235 0 R /S /LI /K 32 /S /LI /Lang (EN-US) /Contents [449 0 R 450 0 R 451 0 R] >> endobj 213 0 obj 3. Despite persistent losses, Holmes salary increased from $200,000 to $400,000, Yam said. /K 14 << /K 232 0 R 83 0 obj /CropBox [0 0 612 792] All rights reserved. /K 225 0 R Having a vested interest in what is at stake as is often the case with founders and investors and envisioning the desired end state via inflexible goals may create a condition known as motivated blindness that can paradoxically prevent us from making realistic progress. << 187 0 obj 313 0 obj /P 48 0 R 110 0 obj endobj 242 0 obj >> /S /LBody << /Pg 250 0 R endobj >> /K 2 /S /P /S /LBody /K 8 0 R >> /P 8 0 R /S /Table SAN JOSE - A federal grand jury has indicted Elizabeth A. Holmes and Ramesh Sunny Balwani, announced Acting United States Attorney Alex G. Tse, Federal Bureau of Investigation (FBI) Special Agent in Charge John F. Bennett; Food and Drug Administration (FDA) Commissioner Scott Gottlieb; and U.S. 254 0 obj << /S /P /Annots [] /S /P /P 8 0 R /K 2 131 0 obj /P 289 0 R 135 0 obj /S /LBody The engrossing optimism that this may have generated in its founder, Elizabeth Holmes, and other champions of the companys vision is understandable. University Mission Statement. 375 0 obj That innovation combined with the use of technology to build a somewhat bulkier though still miniature and portable yet more reliable version of the micro-Lab would have provided plenty of opportunity to make strides towards the dream of empowering people with reliable, timely and inexpensive blood testing. They cite a one-way plane ticket to Mexico she booked for Jan. 26, 2022, three weeksafter her conviction onfour counts of fraud and conspiracy. 33 0 obj /S /LI /K 162 0 R 3 0 obj /K 20 Theranos is a consumer healthcare technology company. /StructParents 13 /Pg 239 0 R /Underline /Span /P 393 0 R /Pg 241 0 R >> /P 50 0 R << >> /Pg 247 0 R 180 0 obj >> /S /LI /MCID 2 /Lang (EN-US) n. o s /) was an American privately held corporation that was touted as a breakthrough health technology company. 332 0 obj null 233 0 R null null null 234 0 R null null 64 0 R 65 0 R ", EX-THERANOS CEO ELIZABETH HOLMES PROVIDING OWN DEFENSE IN CIVIL SUIT: REPORT. /S /P /P 8 0 R /Lang (EN-US) endobj /Pg 237 0 R >> In his book Bad Blood, John Carreyrou documented accounts describing Elizabeth Holmes unwillingness to revise the original micro-Lab specs and her reported tendency to shut off whoever tried to provide realistic feedback or solutions to the technical problems Theranos was facing. Holmes unflappability may have made it difficult for Theranos board members and prospective clients to raise or press on with the right questions at the right time. Connor Radnovich/The Chronicle. /K 147 0 R At times during that period, Balwani worked in several capacities including as a member of the companys board of directors, as its president, and as its chief operating officer. 259 0 obj 371 0 obj << /S /LI << /P 50 0 R >> 240 0 obj /P 373 0 R << >> << endobj << endobj /Contents [473 0 R 474 0 R 475 0 R] /P 51 0 R 226 0 obj endobj 53 0 obj /Lang (EN-US) 389 0 obj /P 338 0 R /P 51 0 R /P 55 0 R /Lang (EN-US) /K 217 0 R 360 0 obj /S /P /K 21 /Resources 500 0 R /P 48 0 R Theranos founder Elizabeth Holmes arrives at San Jose court over alleged fraud. endobj /S /P /P 8 0 R /Lang (EN-US) /K 11 /S /P /K 214 0 R /P 320 0 R /Type /Page /K 169 0 R 353 0 obj >> It claims its technology can work with just a finger prick. /S /P /K 211 0 R 261 0 obj Holmes fostered a culture of fear because it served her needs. /Lang (EN-US) 294 0 obj /S /P /MediaBox [0 0 612 792] /S /LBody /P 283 0 R /Pg 257 0 R /Type /MCR /P 312 0 R /Pg 243 0 R 218 0 obj endobj << /K 261 0 R Indication(s) for use: Same as the intended use 3. endobj /Type /Page >> /Pg 249 0 R /P 285 0 R /K 6 endobj >> /P 8 0 R 91 0 obj >> 347 0 obj /S /LI /Type /Page /Pg 235 0 R /Resources 496 0 R << >> /P 8 0 R /Lang (EN-US) >> /Pg 235 0 R /K [276 0 R 277 0 R 278 0 R 279 0 R 280 0 R 281 0 R 282 0 R 283 0 R 284 0 R 285 0 R 178 0 obj << /Lang (EN-US) /K 4 /P 50 0 R /S /LI /P 8 0 R /P 54 0 R /Pg 238 0 R /Pg 235 0 R 149 0 R null null null 150 0 R null null null 151 0 R null endobj In court documents, federal prosecutors have said Holmes is a flight risk. /K 176 0 R /S /LI /P 380 0 R /K 170 0 R /P 381 0 R endobj >> /S /LI /P 8 0 R /K 260 0 R The defendants also represented to investors that Theranos would generate over $100 million in revenues and break even in 2014 and that Theranos expected to generate approximately $1 billion in revenues in 2015 when, in truth, the defendants knew Theranos would generate only negligible or modest revenues in 2014 and 2015. << /Lang (EN-US) >> << >> /S /LBody endobj << . >> Theranos is in the biotechnology industry. /P 48 0 R Ars may earn compensation on sales from links on this site. endobj << /Pg 256 0 R /S /L /Contents [461 0 R 462 0 R 463 0 R] Theranos wanted to make detailed blood sample analysts accessible to all doctors in a timely manner. << endobj /Type /Page << /S /P Holmes said in the recent court filing, she had planned to attend a wedding of close friends in Mexico and theticket was canceled immediately when the governmentraised the issue. endobj 69 0 obj /K 24 /Pg 254 0 R << /S /LBody >> null] /S /LI /Pg 240 0 R /S /P 338 0 obj /DropCap /Figure /Type /Page endobj /S /LBody Theranos founder Elizabeth Holmes "lied and cheated" for money and fame, prosecutors alleged on the first day of the former Silicon Valley star's trial. 117 0 obj The vision was to revolutionize blood testing and place these miniature labs in homes across the world. She had a strong sense of conviction to her mission., Cheung quit after seven months on the job and filed a whistleblower complaint with the Centers for Medicare and Medicaid Services, alleging that the company used expired lab supplies for tests run on its proprietary Edison testing devices, which themselves had major stability, precision, and accuracy problems., I was uncomfortable processing patient samples, she said. << /Lang (EN-US) (Photo by Brad Barket/Invision/AP). /Lang (DE-DE) /Pg 235 0 R /K [8 94 0 R] << /Annots [] /P 270 0 R /Filter /FlateDecode /Parent 11 0 R >> /P 363 0 R /Pg 248 0 R /S /LI /Pg 235 0 R /Lang (EN-US) 35 0 obj 18 [null null 209 0 R null null null 210 0 R null null null A mission that reads more like a fact sheet than something that explains a company's reason for existing won't be effective. 16 [null null 199 0 R null null null 200 0 R null null null endobj /S /P /P 8 0 R endobj /Resources 432 0 R 230 0 obj Holmes dropped out of Stanford University at 19 to found Theranos in 2003. /Lang (EN-US) 1343. >> /Pg 235 0 R /Lang (EN-US) /S /LI >> >> null null 136 0 R null null null 137 0 R null null] /P 261 0 R endobj 330 0 obj /S /LBody >> >> Holmes faces up to 20 years in prison. /K 12 /MCID 2 /Type /Pages 325 0 obj /S /P << /K 10 endobj 235 0 obj Photographer: David Paul Morris/Bloomberg *** Local Caption *** Elizabeth Holmes. /P 42 0 R endobj That journey ended not, as it could have been, when the promises of its vision delivered their potential, but it ended when somebody, finally, brought reality into the picture. endobj /Pg 251 0 R endobj /MediaBox [0 0 612 792] /S /LBody /MediaBox [0 0 612 792] /K [28 394 0 R] << /Resources 436 0 R /Pg 251 0 R /S /LBody /S /LI /K 189 0 R /MCID 2 /K 6 /K [26 395 0 R] 282 0 obj << /Type /Pages What we know for certain is that behind this particular corporate failure lies a cautionary tale of boundless visioning that all investors, entrepreneurs and organizations seeking breakthrough innovations should be interested in further understanding. The Seattle-based coffee giant originated in 1971 and has since become ubiquitous around the world. /Type /StructTreeRoot 19 0 obj /Annots [] /MediaBox [0 0 612 792] /K 18 25 0 obj null null 162 0 R null null null 163 0 R null null] /P 314 0 R /Lang (EN-US) null] /Kids [11 0 R 12 0 R 13 0 R 14 0 R] 17 [null null 204 0 R null null null 205 0 R null null null /P 51 0 R /K 10 -mission statement: to make actionable information accessible to everyone at the time it matters. /Lang (EN-US) The Theranos founder intentionally deceived investors, a US . endobj 19 [null null 215 0 R null null null 216 0 R null null null endobj /P 8 0 R /StructParents 3 /S /LI /K 18 /Pg 248 0 R /P 381 0 R endobj /P 55 0 R 22 0 obj 60 0 obj << The company grew to become a business worth billions. << Forbes has since . << 186 0 obj << >> 182 0 obj >> >> /K 10 endobj >> Balwani, 53, of Atherton, Calif., was employed at Theranos from September of 2009 through 2016. << /P 389 0 R >> >> /CropBox [0 0 612 792] According to a statement from the SEC, "Theranos, Holmes, and Balwani made numerous false and misleading statements in investor presentations, product demonstrations, and media articles by which they deceived investors into believing that its key productcould conduct comprehensive blood tests from finger drops of blood, revolutionizing the . /K 218 0 R endobj /K 14 << >> /S /LI /Type /Page Creating something new is about breaking the status quo. 3553. Peter DaSilva/Reuters. /CropBox [0 0 612 792] /S /LBody /S /LBody The parable of Elizabeth Holmes and her company, Theranos, is not an unfamiliar one. 4 0 obj /P 8 0 R /S /LI stream /Lang (EN-US) endobj endobj >> << 262 0 obj 139 0 obj << << /Pg 237 0 R << Powered and implemented byFactSet Digital Solutions. /P 360 0 R >> /K 6 /Pg 249 0 R 15 0 obj /P 54 0 R /Pg 248 0 R endobj >> 95 0 obj >> /SourceModified (D:20180314151216) /S /LBody 89 0 obj /S /LI 212 0 obj /K 22 /Pg 258 0 R << /K 17 . /P 365 0 R /Lang (EN-US) 185 0 R null null] /S /P /K 6 /K 8 /K 14 endobj The defendants also represented that the analyzer could produce results that were more accurate and reliable than those yielded by conventional methodsall at a faster speed than previously possible. 5 [null null 137 0 R null null null 138 0 R null null null << /Type /Page 275 0 obj In the end, the innovations Theranos was after were not only meant for its own success but to secure a better future for millions of people. /P 333 0 R >> endobj /MediaBox [0 0 612 792] Last week, Zuckerberg was back with 3,000 words . A young (age-defying), pure-looking (evil-defying), masculine-sounding (stereotype-defying) female CEO speaking about Theranos unfulfilled feats in the present or past present tense, Holmes proposition was so enticing that she was able to assemble one of the most impressive boards in corporate America. /S /LI /P 59 0 R Elizabeth Holmes, the former CEO of Theranos convicted of defrauding investors, is seeking to delay the start of her 11-year prison sentence because she has "two very young children" to be with. /Pg 256 0 R >> 17 0 obj /Lang (EN-US) /K [380 0 R 381 0 R] /K 22 Elizabeth Holmes (Reuters); Ramesh "Sunny" Balwani (Getty Images). But what may be less intuitive is the effect that such optimism likely had on the ability of the companys senior leadership to consider the implications of their decisions and following actions. /P 48 0 R /StructParents 12 /Rotate 0 /P 8 0 R 147 0 obj /Resources 488 0 R /Pg 239 0 R /P 348 0 R << /Pg 258 0 R /MCID 2 endobj /K 213 0 R endobj /Lang (EN-US) /Kids [245 0 R 246 0 R 247 0 R 248 0 R 249 0 R] 125 0 obj /K 18 /Resources 472 0 R /P 40 0 R /Pg 252 0 R 193 0 obj /Parent 13 0 R /K 123 0 R /P 8 0 R /K 14 /S /P endobj The next witness was Erika Cheung, who was hired by Theranos out of undergrad as a lab associate. /P 40 0 R /P 372 0 R /CropBox [0 0 612 792] /K 228 0 R endobj Instead, Theranos continued to produce mounting losses. << << /Lang (EN-US) Theranos's mission statement is "To facilitate the early detection and prevention of disease and empower people everywhere to live their best possible lives.". >> >> >> /Pg 256 0 R endobj >> << /Pg 235 0 R 162 0 obj /S /P The Theranos story has been turned into an HBO . >> /Type /MCR /Lang (EN-US) endstream << 75 0 obj 127 0 obj Ms. Holmes's lawyers have said the entrepreneur dedicated 15 years to Theranos's mission and her only crime was having a startup that failed, as so many do /P 379 0 R /K 10 /Pg 245 0 R /K [24 387 0 R] /P 269 0 R << /PageLayout /OneColumn >> Those biases can be understood as the blindness brought about by what seems preeminently important, the righteousness generated by what sounds inherently right, the operational myopia triggered by what is situated far away from us and the sense of potency derived from endeavoring to create something new. /K 2 >> /Lang (EN-US) >> /Parent 12 0 R /P 8 0 R /P 8 0 R /MCID 2 /S /L endobj /K 152 0 R In reality, Theranos couldn't perform more than 12 tests on its Edison devices, former lab . 188 0 R null null null 189 0 R null null null 190 0 R null << >> /Pg 254 0 R << >> 145 0 R null null null 146 0 R null null null 147 0 R null >> After Cheung went to the federal government, Theranos hired a private detective to spy on her, according to court documents released last week. endobj >> However, any sentence following conviction would be imposed by the court after consideration of the U.S. /P 8 0 R /K 8 /K 120 0 R /Type /Page /P 380 0 R /P 8 0 R /Rotate 0 /Lang (EN-US) >> /S /LI << endobj endobj << << After all, one of Theranos top achievements was the very idea Holmes herself had developed an idea she never put through the rigor of scientific testing before defining its contours. /Resources 424 0 R /Pg 244 0 R 292 0 obj Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. Zippia gives an in-depth look into the details of Theranos, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Theranos. null 47 0 R null null 129 0 R null null null 130 0 R null << /K 21 /CropBox [0 0 612 792] /K 167 0 R Avoid simply listing what your company does and shift your focus to the bigger picture: what guides your company strategy and inspires your workforce. 257 0 obj /Resources 460 0 R (Photo by Kristoffer Tripplaar/AP). >> endobj /Subtype /XML /S /LBody >> 175 0 obj Four years after the top two Theranos executives, Elizabeth Holmes and Ramesh "Sunny" Balwani, were first indicted together on a dozen federal fraud charges stemming from their time . 267 0 obj endobj /MediaBox [0 0 612 792] /P 50 0 R Holmes only canceled the trip after prosecutors contacted Holmes attorneys about the unauthorized flight, prosecutors said. /P 54 0 R endobj 133 0 obj /Rotate 0 /P 50 0 R Theranos Inc. founder Elizabeth Holmes was criminally charged in June 2018 with defrauding investors following the collapse of her blood-testing startup. << /P 319 0 R /Pg 251 0 R /Pg 258 0 R /Parent 14 0 R While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. /S /P /S /LBody 346 0 obj >> /Lang /Annots [] /StructParents 0 210 0 obj 289 0 obj >> << /S /LBody /K 224 0 R /Lang (EN-US) /K 219 0 R << >> /Type /Metadata /P 8 0 R The indictment charges each defendant with two counts of conspiracy to commit wire fraud, in violation of 18 U.S.C. /Lang (EN-US) /Lang (EN-US) 183 0 obj endobj /Annots [] << 310 0 obj /Pg 235 0 R /K 8 232 0 obj /Lang (EN-US) /K 30 >> /P 50 0 R 225 0 obj endobj /Resources 440 0 R >> /Pg 244 0 R It involves a dream, a mission, a plan, a vision and quite possibly monumental corruption. /Lang (EN-US) >> 349 0 obj /Pg 256 0 R endobj /Type /Page endobj /P 55 0 R /P 330 0 R /P 260 0 R /P 8 0 R /Pg 258 0 R 386 0 obj endobj /S /LI endobj /P 334 0 R /StructParents 4 /Lang (DE-DE) /K 174 0 R /Lang (EN-US) 107 0 obj << 337 0 obj 104 0 obj endobj /Tabs /S 390 0 obj endobj /K 6 /K 116 0 R /Lang (EN-US) << Nies was hired at Theranos in March 2015 for $185,000 a year to be the senior manager of customer service and call center operations at the company's headquarters in Palo Alto, Calif., according . 340 0 obj stream >> /K [10 392 0 R] 171 0 R null null] << /Lang (EN-US) /Pg 246 0 R /S /LBody /S /LBody 116 0 obj /K 13 /S /P /MediaBox [0 0 612 792] << << Theranos dissolved in September 2018 and founder Elizabeth Holmes now faces up to 20 years in prison for fraud and conspiracy. 150 0 obj /CropBox [0 0 612 792] /Pg 240 0 R endobj 124 0 obj << Legal Statement. << They proposed revoking the companys license to test human specimens. 123 0 R null null null 124 0 R null null] << /S /LI /StructParents 11 /Pg 258 0 R /K 0 /Lang (EN-US) << /K 29 << 345 0 obj >> endobj /S /LBody /S /LBody /P 324 0 R Carreyous account of Safeways engagement with Theranos is powerful. << This is why accounts about Theranos willingness to circumvent FDA rules and requirements, among other things, or legitimate due diligence requests made by potential clients is disconcerting yet unsurprising. Mission statements, where crafted and utilized effectively, have been proven to drive billions of dollars in corporate value. /K 205 0 R >> /K 160 0 R << endobj << /K 144 0 R endobj /P 48 0 R 274 0 obj >> 49 0 obj Holmes dropped out of Stanford University at 19 to start the medical diagnostics company in 2003. << 11 [null null 169 0 R null null null 170 0 R null null null /K 130 0 R /Lang (EN-US) 153 0 obj /Lang (EN-US) 64 0 obj /Contents [457 0 R 458 0 R 459 0 R] << >> /P 55 0 R >> /K 19 /Tabs /S /K 197 0 R /Pg 240 0 R /Lang (EN-US) << >> /P 59 0 R endobj /S /LI << endobj 334 0 obj << /Rotate 0 /Pg 235 0 R << The employees at Morgan Stanley earn an average yearly salary of $103,933 per year, and the salaries at National Journal average $73,533 per year. /Lang (EN-US) >> /S /P 13 0 obj endobj -Theranos is now worth $9 billion dollars; Holmes currently owns about half the company-Forbes named her one of the youngest female self-made billionaire before the age of 30. . 2018-03-14T09:02:10-07:00 >> endobj 34 0 obj /P 286 0 R >> << Ms Holmes faces 12 fraud charges over her . << The defendants also delivered to doctors and patients blood test results from which critical results were improperly removed. /P 48 0 R 134 0 obj Tech workers are using company mission statements to hold their CEOs accountable. >> << >> endobj /K 5 Theranos may also be known as or be related to Theranos, Theranos Inc, Theranos Inc. and Theranos, Inc. We calculated the diversity score of companies by measuring multiple factors, including the ethnic background, gender identity, and language skills of their workforce. /Lang (EN-US) /MediaBox [0 0 612 792] %PDF-1.5 This conspiracy misled doctors and patients about the reliability of medical tests that endangered health and lives.. Pay at Theranos is significantly lower than some of its highest paying competitors, like. /Pg 255 0 R /S /LBody << null null 174 0 R null null null 175 0 R null null null 16 0 obj /Parent 14 0 R About us Our mission is to make actionable information accessible to everyone at the time it matters. 168 0 obj /Lang (EN-US) /Lang (EN-US) 2 0 obj 109 0 obj endobj /P 8 0 R >> /S /TR The Securities and Exchange Commission today charged Silicon Valley-based private company Theranos Inc., its founder and CEO Elizabeth Holmes, and its former President Ramesh "Sunny" Balwani with raising more than $700 million from investors through an elaborate, years-long fraud in which they exaggerated or made false statements about the company's technology, business, and financial . /P 341 0 R /S /LBody Theranos presenting poster on an investigational ELISA for the serodiagnosis of #Zika virus infection - today at the American Society of Tropical Medicine & Hygiene . /Annots [] /S /LBody /K 140 0 R 165 0 obj /Type /MCR endobj /Pg 239 0 R endobj /Contents [465 0 R 466 0 R 467 0 R] /P 51 0 R /P 276 0 R >> >> /Lang (EN-US) The conduct alleged in these charges erodes public trust in the safety and effectiveness of medical products, including diagnostics. /Lang (EN-US) /S /LBody << >> /Footnote /Note /Lang (EN-US) 256 0 obj /MediaBox [0 0 612 792] /P 50 0 R endobj /K 166 0 R << /S /LI /S /LI /Pg 250 0 R /P 50 0 R /Lang (EN-US) Learn about working at Theranos from employee reviews and detailed data on culture, salaries, demographics, management, financial, and more. 369 0 obj Acrobat PDFMaker 18 for Word endobj << >> 265 0 obj She already settled with the Securities and Exchange Commission (SEC) for a $500,000 penalty and 10-year ban on serving as an officer or director of a public company. 367 0 obj Yam said that Theranos lost $16.2 million in 2010, $27.2 million in 2011, $57 million in 2012, and $92 million in 2013. /P 40 0 R Consider Elizabeth Holmes obsession with producing as small a micro-Lab as possible or with using just a few drops of blood in order to conduct the myriad of tests Theranos promised. endobj << << /RoleMap 7 0 R /Pg 256 0 R /P 55 0 R The tests performed on Theranos technology, in addition, were likely to contain inaccurate and unreliable results. The mission statement of Theranos is stated as, "To make actionable information accessible to everyone at the time that it matters". /P 288 0 R Around the time that Theranos was losing nearly $2 million per week, investors in the blood-testing startup were being told that the company would soon be bringing in almost $1 billion per year.
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