In the beginning, Theranos was called Real-Time Cures. Corny? Sure. But Elizabeth Holmes was barely 19 when she came up with it, a Stanford dropout aspiring to upend personalized medicine. Besides changing its name, Theranos has come a long way: It's raised hundreds of millions of dollars, signed deals with huge consumer health companies, received federal approval, and been the subject of glowing profiles in some of the world's most prestigious publications..............John Carreyrou was skeptical.
He had read the New Yorker's profile of Holmes, and was bothered by her company's absurd, obsessive secretiveness. So the Pulitzer Prize-winning Wall Street Journal reporter started digging. Over the next several months, sources began trickling information to him.
The general gist: Theranos' technology was not what it seemed. In fact, the company's blood testing device, a machine called Edison, couldn't accurately detect enough molecules in blood samples to provide accurate readouts. Blood behaves differently in small volumes, more like a pile of M&M's coated in honey than a proper fluid. Edison couldn't get things right, sources told Carreyrou, so Theranos had been diluting samples taken via the fingerstick and running them through blood testing devices manufactured by Siemens1—the same type of equipment used by every other blood testing company. And in fact, Theranos was using these off the shelf machines to run most of its tests........To Read More....
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