Theranos is in the spotlight again, and this time the news is the bleakest it’s been.
Once the most popular kid in Silicon Valley, the biotech startup now finds itself the subject of a criminal investigation by U.S. federal agencies ━ including the Department of Justice, the Food and Drug Administration, and the Securities and Exchange Commission ━ for misleading government officials and defrauding investors.
Read: PR Lessons from the Theranos Debacle
Valued at $9B in a funding round in 2014, the company now finds itself scrambling for its life, with CEO Elizabeth Holmes facing a two-year industry ban and possible prison time.
As usual, Twitter has voiced its opinion on the issue, and here’s some of the latest reaction to what has become a remarkable, and rapid, fall from grace:
Yahoo’s a disaster, Intel is laying off 12k employees, and Theranos is under federal investigation… My problems seem very manageable
— Zach Taylor (@mysaaslife) April 20, 2016
Not a lawyer but this SEC / US attorney investigation seems worse than lab regulatory penalties last week #Theranos https://t.co/zdVOJdteel
— Robert Kruse (@RobertLKruse) April 20, 2016
Things I’m devastated about: 1.Animal-based foods 2.Kale smoothies with too much stem 3. Not catching serious issues at Theranos 4.Needles
— Not Elizabeth Holmes (@NotLizHolmes) April 20, 2016
Maybe reporters should start keeping track of which government agencies aren’t investigating Theranos?
— Not Elizabeth Holmes (@NotLizHolmes) April 20, 2016
If only stodgy, ivory tower scientists could be more like the disruptive visionary geniuses of silicon val…oh wait that’s Theranos.
— Michael Hendricks (@MHendr1cks) April 20, 2016
The stunning fall from grace continues for #Theranos. A cautionary tale for some Silicon Valley marquee VCs. https://t.co/S1jWodnBVH
— Stuart Lodge (@stuartlodge) April 20, 2016
Lessons for Theranos: Patients matter more than disruption – Silicon Valley Business Journal https://t.co/IStGbqUPik
— Atul Jain, MD (@AtulJainMD) April 20, 2016
And even if Theranos’ technology did work, do we really want proprietary technology anywhere near healthcare?
— Dave Koelmeyer (@davekoelmeyer) April 19, 2016
Topics I wouldn’t mind ever hearing about again:
1. Theranos
2. Yahoo!
3. Growth Hacking
4. Theranos
5. Theranos— Semil (@semil) May 3, 2016
