Theranos founder Elizabeth Holmes seemed to embody the profile of an entrepreneur favored by venture capitalists. But fellow Silicon Valley entrepreneurs and backers say she represented only the worst of start-up culture.
But fellow Silicon Valley entrepreneurs and backers say she represented only the worst of start-up culture.
Stephanie Hinds, a U.S. attorney, said on Jan. 3 that the guilty verdicts reflected Elizabeth Holmes’s "culpability in this large scale investor fraud." Holmes seemed like a rare model trying to change a male-dominated industry, said Amber Atherton, a start-up founder turned angel investor, whose company Zyper was recently acquired by Discord.
In reality, Theranos was struggling with cash flow and with inconsistent test results, according to the case presented by prosecutors during the trial.Far from running hundreds of tests from two drops of blood, Theranos was relying on third-party machines and a limited menu of tests that could be accurately run on its own technology, former employees testified.
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