Theranos, touting fast and easy blood tests, was a billion-dollar Silicon Valley beast.
But it all came crashing down after its tech turned out to be unreliable and it emerged the company used traditional tests to hide that fact. Investors were bilked and its partners sued it, but founder Elizabeth Holmes seemed to escape serious sanction--until now. In a settlement with the SEC, she gets away with a $500,000 penalty, must leave Theranos, and is barred from serving as an executive on a public company for 10 years. (The SEC does not impose criminal penalties such as imprisonment.)
Theranos was one of the health-care world’s best funded and highest-profile startups, with a CEO who gained attention for her bold statements about the company’s blood tests. As those claims unraveled, the company went through a dramatic downfall marked by accusations of scientific fraud, lawsuits and sanctions by health regulators.
The company said it could run dozens of diagnostic tests using a single drop of blood, an advance that could have upended a medical diagnostics market worth billions of dollars. Doubts began to emerge about the technology after a Wall Street Journal report that the testing equipment might not be what it seemed.
“The company is pleased to be bringing this matter to a close and looks forward to advancing its technology,” Theranos said in a statement, adding that it cooperated with the SEC’s investigation.
When wind blows over the snow of Antarctica’s Ross Ice Shelf, the surface vibrates and produces a beautiful and eery drone. Colorado State University researchers deployed seismometers to explore the subsurface of the ice shelf and were surprised to learn that their sensors recorded the natural song of the terrain. The frequencies are below the […]
Stephen Hawking’s final book, Brief Answers to the Big Questions, was released posthumously Tuesday by his children.
According to the explanation of the phrase “like a moth to the flame” at The Phrase Finder, “the word moth was used the the 17th century to mean someone who was apt to be tempted by something that would lead to their downfall.” But why do moths have this fatal attraction anyway? National Geographic explains […]
Speed reading isn’t just an innate skill possessed by a lucky few. Anyone can learn to speed read, and the benefits are endless. The brain can process more information than most people have time to soak up, but you can make that time now with the 2018 Award-Winning Speed Reading Bundle. The first half of […]
Sure, you could use the same old PowerPoint templates for your next business presentation. It’s not like you have bosses or investors to impress. Oh wait, you do? Time to augment that slideshow with Slideshop – the presentation tool that can individualize your pitch while saving you time. Compatible with PowerPoint, Keynote and Google Slides, […]
Multinational companies have used the no-nonsense methodologies of Six Sigma and Lean Six Sigma to oil a smooth-running operation for years. What is it? Six Sigma (and its offshoot, Lean Six Sigma) apply the principles of science to business, teaching managers to methodically target waste, maximize output and streamline the flow from producer to consumer. […]