[PDF/EPUB] Bad Blood: Secrets and Lies in a Silicon Valley Startup ✓ John Carreyrou

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Bad Blood: Secrets and Lies in a Silicon Valley Startup Read & Download ↠ 108 Summary â eBook, ePUB or Kindle PDF ↠ John Carreyrou John Carreyrou ↠ 8 characters Possible repercussions of our blind faith in a small group of brilliant individuals PRAISE FOR BAD BLOODA dazzling story of deception in Silicon ValleyIt is a tale of heroic cupidity on a scale that made the very best and the very brightest look like the very very foolishYou will not be able to put this book down Washington PostChillingReads like a West Coast version of All the Presidents Men New York Times Book ReviewCarreyrou presents the scientific human legal and social sides of the story in full Although some of it was previously reported in his extensive coverage he unveils many dark secrets of Theranos that have not previously been laid bare Nature His Carreyrous unmasking of Theranos is a tale of David and Goliath Financial Tim. I missed this book when it launched but Alex Gibney s excellent 2019 HBO doucmentry The Inventor Out for blood in Silicon Valley prompted my purchaseCarryrou s book covers three and a half years of investigation into Theranos its founder Elizabeth Holmes and her meteoric rise and spectacular fall in the obsessive pursuit of a dream Its a fascinating read and Carryrou uses his research to tell the story from the beginning The story of his investigations as a Wall Street Journal reporter follows the cronological order of events and is documented towards the end of the bookEssentially Elizabeth Holmes developed a start up in Silicon Valley where she attempted to develop a device which could provide multiple blood test analyses for a range of conditions and diseases in a box not much larger that a large bread bin For the user only a small pinprick of blood was reuired to complete all these testsThis would be a game changer Some day every home could have one and for a small charge could carry out blood tests and have them analysed almost immediately providing early warning of developing conditions What s not to like Nothing it seemedWhat makes this book so fascinating as well as the central characters and story are the themes it explores such asGreed and denialThe historty of Silicon Valley start ups is one where investors always try and get in at the beginning of potentially novel ideas and make a killing Think Google Facebook and Uber Two things drive this The idea and the confidence expertisedrive of those taking it forward In the case of Theranos Elizabeth Holmes force of personality outweighed any doubts about the concept or the execution However at the time she started Theranos she was 19 and a Stanford dropout with no experience in blood testing whatsoever beyond a grand idea and good connectionsHolmes exerted an almost Svengali like hold of the people in her orbit This is partly to do with her physical appearance Tall striking blue unblinking eyes dessed in black turtle necks a la Steve Jobs and speaking in a baritone voice Supremely confident in both her idea and herself she managed to persuade and recruit a Board of former ex Government Cabinet members a 4 star General Jim Mattis of Trump fame and big name investors who blinded by either the promise of the idea or the money to be made from it were sufficiently incurous as to seek the detail of how this invention actually worked People and organisations such as Walgreens were happy to put hundreds of millions of dollars investment into Theranos without demanding independent expert due diligence of the productAt the time of Theranos s demise it was valued as a private company at 9bn with Holmes s share of that valuation at 45 Up to that point no investor in Theranos had seen the inner working of the product or uestioned the fabulous claims made for it Neither had any member of her company BoardSecrecy and liesHolmes and her senior executive partner were secretive to the point of paranoia over their idea Two reasons for this First they were genuinely concerned about their ideas being stolen but as time went on and they could not get their invention to work the secrecy hid a raft of corner cutting false promises and outright lies as to how the euipment was performing Only those in Theranos working on the project could see how far from the truth the claimes Holmes made for the product and its readiness to market actually were Some turned a blind eye while those with professional or ethical concerns were either fired or left all under rigourous confidentiality clausesThis secrecy coupled with an agressive management style also stifiled the creative initiative of the Theranos team Knowledge was power and developers were deliberately siloed to ensure they only worked on their own area so the ability to share thinking across the firm was severly limitedWeaponising the lawWhat I found perhaps most shocking of all is the way the agressive use of the threat of litigation is used to force compliance especially against those who cannot financially afford to fight their corner The lawyers who command the most fees are the legal pit bulls of the industry Holmes spares no expense in protecting her secrets and covering her lies with the determined use of agressive legal firms and the threats of legal action to force whistleblowers to keep silent This extends to Carryrou as well Of the 900m raised by Holmes in her third funding round 300m went on lawyers feesRegulatory incuriousityThe FDA and other regulators seemed broadly incurious about the claims for this machine and remained so until things started to go badly wrong when what was essentially an idea at prototype stage went live to the public The degree to which private companies can avoid such scrutiny is alarming The debate is still ongoing as to whether Holmes deliberately misled or had sociopathic tendencies The story is not over She is now charged with alleged Federal and SEC crimes which carry up to 20 years in prisonI highly recommend this book which I think will become a textbook on leadership governance failure and greedI also recommend Gibney s HBO documentary which brings to life the people and events in the book not least Elizabeth Holmes herself It also adds visual detail on the development of the blood testing device in the way Carryrou s book can notHope this is helpful

Summary â eBook, ePUB or Kindle PDF ↠ John CarreyrouBad Blood: Secrets and Lies in a Silicon Valley Startup

Bad Blood: Secrets and Lies in a Silicon Valley Startup Read & Download ↠ 108 Summary â eBook, ePUB or Kindle PDF ↠ John Carreyrou John Carreyrou ↠ 8 characters Winner of the Financial Times and McKinsey Business Book of the Year Award 2018 You will not want to put this riveting masterfully reported book down No matter how bad you think the Theranos story was youll learn that the reality was actually far worse Bethany McLean bestselling coauthor of The Smartest Guys in the Room and All the Devils Are Here A New York Times bestseller to be adapted into a film with Jennifer Lawrence to star In 2014 Theranos founder and CEO Elizabeth Holmes was widely seen as the female Steve Jobs a brilliant Stanford dropout whose startup unicorn promised to revolutionize the medical industry with a machine that would make blood tests significantly faster and easier Backed by investors such as Larry Ellison and T. This is probably the book of 2018 with apologies to Jordan PetersonAs a former venture capitalist for 25 years this book is fascinating reading Most books derived from Silicon Valley are hagiographic biographies of successful founders This tells the story of an unbelievable failure namely the rise and fall of TheranosThe company was founded in 2003 by 19 year old Elizabeth Holmes It raised than 700 million and achieved a maximum valuation of 10 billion in 2013 Theranos operated in the blood testing market claimed its technology was revolutionary and that its tests reuired only about 1100 to 11000 of the amount of blood that would ordinarily be needed and cost far less than existing testsThe problem was the technology did not work but this did not Holmes and her Chief Operating Officer Sunny Balwani acting dishonestly to raise money from investors and signing contracts with Walgreens and Safeway Various employees along the journey tried to act as whistle blowers either about the technology or financial projections Every time they were accused of not being a team player summarily dismissed made to sign non disclosure agreements and threatened with lawsuits from the highest profile lawyer in the USA David BoiesThe turning point was in October 2015 when investigative reporter John Carreyrou of The Wall Street Journal uestioned the validity of Theranos technology Since then the company has faced a string of legal and commercial challenges from medical authorities investors the US Securities and Exchange Commission SEC Centers for Medicare and Medicaid Services CMS state attorneys general former business partners patients and others Bad Blood published in May 2018 chronicles the decline On June 15 2018 the US Attorney for the Northern District of California announced the indictment of Holmes on wire fraud and conspiracy charges Balwani was also indicted on the same charges What amazes me is that Holmes while no longer CEO is still the Chairman of TheranosMy favourite take aways from the book are three Firstly Holmes tried every trick to stop Carreyrou publishing his first article In particular she lobbied Rupert Murdoch owner of the Wall Street Journal and who had invested 125 million in Theranos Rupert to his credit said he did not interfere in the editorial side of his businesses and let the article runSecondly Carreyrou trying to work out what made Holmes tick suggests she is a sociopath I disagree she is a corporate psychopath totally genetically driven by the desire to make money and if not blessed with a moral compass will unreserved lie and use fraudulent methods to achieve economic success Holmes is HustlerGoGetter in my emotional intelligence profiling technology The giveaway was when she was nine years old and asked what she want to be when she grew up she replied a billionaire When she was asked whether she would rather be President she said no because the President would want to marry her because she had a billion dollarsFinally Carreyrou is mystified by the relationship between Holmes and Balwani in that they were in a relationship together One of great lessons of my emotional intelligence workshops is that we like those who are like ourselves Balwani was as a much a psychopath as Holmes He would fake his scientific knowledge causing much humour among his employees but was utterly ruthless in his treatment of themOne can only have sympathy for the employees of Theranos Working for one corporate psychopath at the top is bad but working for two psychopaths at the top would be unbearable

John Carreyrou ↠ 8 characters

Bad Blood: Secrets and Lies in a Silicon Valley Startup Read & Download ↠ 108 Summary â eBook, ePUB or Kindle PDF ↠ John Carreyrou John Carreyrou ↠ 8 characters Im Draper Theranos sold shares in a fundraising round that valued the company at 9 billion putting Holmess worth at an estimated 47 billion There was just one problem the technology didnt workFor years Holmes had been misleading investors FDA officials and her own employees When Carreyrou working at the Wall Street Journal got a tip from a former Theranos employee and started asking uestions both Carreyrou and the Journal were threatened with lawsuits Undaunted the newspaper ran the first of dozens of Theranos articles in late 2015 By early 2017 the companys value was zero and Holmes faced potential legal action from the government and her investorsIn Bad Blood John Carreyrou tells the story of Theranos and encourages us to consider the. This is indeed a sad sad sad book The tale of how almost one billion was wasted over 10 years of lies and deceit As a female technology business owner I found this recounting of the life and business as both frustrating and fascinating SO SAD that as humankind we continue to fall for anything that looks glossy and sounds fantasticalTHIS IS A MUST READ and take heed tale

  • Audio CD
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  • Bad Blood: Secrets and Lies in a Silicon Valley Startup
  • John Carreyrou
  • en
  • 06 December 2018
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