The woman who was once considered the world’s youngest self-made female billionaire now has a networth of zero.
Elizabeth Holmes, 31, is the chief executive of her health technology company Theranos Inc. which promised to make blood tests easier and more affordable for patients. Holmes, a Stanford dropout, reportedly owns 50% of Theranos, which was valued at $9 billion.
Yesterday, the Wall Street Journal wrote this hit piece on Theranos, basically saying that Theranos is a hoax. The main accusations, mainly coming from former Theranos employees, it seems, are that Theranos uses a lot of other companies’ testing machines and that Theranos’s own proprietary testing technologies are inaccurate.
First off, interviewing a bunch of laid-off employees about a relatively new company is not good reporting. Of course they are going to talk shit. They got laid off! I am guessing Theranos CEO Elizabeth Holmes did not give them enough hush money, or maybe they used a poorly-drafted severance agreement — but honestly, is that the way we ought to be judging a company? By how well it can control its bad hiring decisions after they are out of the door?