https://padlet.com/a01703183/b2ix9jagyf4081z Main points and Conclusion en-us 2020-09-10 17:32:52 UTC 2020-09-10 18:07:46 UTC hello@padlet.com a01703183 https://padlet.com/a01703183/b2ix9jagyf4081z/wish/736197890 Theranos is a startup dedicated to making blood testing easier and more affordable, founded in 2003 by the 19-year-old Elizabeth Holmes. The next year, Holmes dropped out of Stanford.]]> 2020-09-10 17:34:29 UTC https://padlet.com/a01703183/b2ix9jagyf4081z/wish/736197890 a01703183 https://padlet.com/a01703183/b2ix9jagyf4081z/wish/736223259 On June, 2014, Roger Parloff published a cover story on Elizabeth in the Fortune magazine. With this, the  investments in Theranos reached $400 million and the company was valued at $9 billion despite the absence of scientific studies.]]> 2020-09-10 17:39:03 UTC https://padlet.com/a01703183/b2ix9jagyf4081z/wish/736223259 a01703183 https://padlet.com/a01703183/b2ix9jagyf4081z/wish/736241429 It boasted a star-studded board and contracts with national pharmacy and supermarket chains Walgreens and Safeway to bring Theranos technology, which could purportedly perform hundreds of tests with a pinprick of blood, to consumers around the country.]]> 2020-09-10 17:42:13 UTC https://padlet.com/a01703183/b2ix9jagyf4081z/wish/736241429 a01703183 https://padlet.com/a01703183/b2ix9jagyf4081z/wish/736246258 2020-09-10 17:43:04 UTC https://padlet.com/a01703183/b2ix9jagyf4081z/wish/736246258 a01703183 https://padlet.com/a01703183/b2ix9jagyf4081z/wish/736250016 In 2018, after a three-year stream of revelations about the company’s operating practices, corporate culture, and technology, the U.S. Securities and Exchange Commission charged Theranos with fraud and the company soon collapsed.]]> 2020-09-10 17:43:42 UTC https://padlet.com/a01703183/b2ix9jagyf4081z/wish/736250016 a01703183 https://padlet.com/a01703183/b2ix9jagyf4081z/wish/736254915 Walgreens ended its relationship with Theranos and closed its 40 Theranos Wellness Centers in
Arizona on June 2016, and the same year Forbes magazine cut Elizabeth’s net worth from $4.5 billion to $0. 
By November 2016, Walgreens filed a $140 million lawsuit against Theranos. ]]> 2020-09-10 17:44:34 UTC https://padlet.com/a01703183/b2ix9jagyf4081z/wish/736254915 a01703183 https://padlet.com/a01703183/b2ix9jagyf4081z/wish/736267679 Elizabeth stepped down as CEO of Theranos on 2018, but remained her chair of its Board of Directors. Federal prosecutors brought criminal charges against Elizabeth and Sunny (nine counts of wire fraud and two counts of
conspiracy to commit wire fraud). The maximum penalty includes 20 years in prison and a $2.75 million fine. On July 2020, Elizabeth and Sunny scheduled to go on trial for criminal charges. ]]> 2020-09-10 17:46:55 UTC https://padlet.com/a01703183/b2ix9jagyf4081z/wish/736267679 a01703183 https://padlet.com/a01703183/b2ix9jagyf4081z/wish/736286142 - Walgreens executives were not allowed in the lab to examine data.
- Employees worked in silos and were not permitted to share information with each other.
- Total investments in Theranos: $700 million.
- Sales never topped $100 Million.]]> 2020-09-10 17:50:11 UTC https://padlet.com/a01703183/b2ix9jagyf4081z/wish/736286142 a01703183 https://padlet.com/a01703183/b2ix9jagyf4081z/wish/736303273 Theranos started without a real study to support the product that was being offered, by a very young woman who didn't finished her studies, but still got a valuation of $9 billion just for the idea. This was unethical, because they were not totally sure that the product correctly worked, and they just hided the information.]]> 2020-09-10 17:53:06 UTC https://padlet.com/a01703183/b2ix9jagyf4081z/wish/736303273 a01703183 https://padlet.com/a01703183/b2ix9jagyf4081z/wish/736338251 It is very important to have a solid business model before starting a new company. It is not enough just having the idea and the will of making something useful, it always have to be sustained on a well constituid base, and also it is very important to always work on an ethical way, being transparent and clear.]]> 2020-09-10 17:59:30 UTC https://padlet.com/a01703183/b2ix9jagyf4081z/wish/736338251