John Carreyrou (epub) Bad Blood: Secrets and Lies in a Silicon Valley Startup – Book or TXT

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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 book is hard to believe I don t mean that I don t believe the story I mean it s just so so difficult to believe that so many smart people were fooled by a product that simply never workedThis is the story of the spectacular rise and fall of a silicon valley startup that was going to change the world Theranos was the brainchild of Elizabeth Holmes a twenty something wunderkind Its main product was going to revolutionize blood testing by doing away with nasty big needles and use a tiny drop of blood to perform hundreds of medical tests It s a great idea a shame it never got close to workingWith her wide blue eyes and unexpectedly deep voice she bamboozled everyone Carreyyou tells the long sordid tale interviewing scared Theranos workers doctors trying to use their products and even distraught patients But there is very little analysis At the end of the book we still don t know how board members like George Schulz and Henry Kissinger both previous US secretarys of state successful business men and diplomats and top investor Rupert Murdoch super smart media mogul and many other similarly accomplished men all invested literally hundreds of millions of dollars into this enterprise without ever seeing anything remotely like a properly working machine Entire boards of huge companies such as Walgreens and Safeway totally supported her project and started the roll out of defective devices in their stores On top of all that many doctors uickly saw that the results of the Theranos tests were wrong But the caravan continued to roll on people continued to invest vast amounts of money business institutions continued to heap praise and awards on Ms Holmes It is just crazyIt s not enough to just say Holmes had charisma and charm There must be to it than that People really wanted it all to be trueThe book s release is somewhat premature At the time of publication Theranos was still a working company although its workforce has been reduced from a spectacular 800 to a mere couple of dozen and the law suites and investigations have a long way to go We still don t know what penalties are going to be handed out to Holmes and her shady co conspirator Sunny Balwani if any for their monstrous fraudThe story is told in competent if somewhat pedestrian style The facts are there but the person at the centre of the book Elizabeth Holmes remains a mystery Was she just an extraordinarily gifted charlatan Or a psychopath having no empathy at all with the thousands of people she was harming Even after her company has collapsed she seems to show no contrition or even understanding of what she has done Perhaps it will take another book to explain the psychology behind Holmes and those who fell under her spell Sylvia Pankhurst of the Financial Times and McKinsey Business Book Attack of Apollyon: Revenge of the Locusts 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 Aikido and the Dynamic Sphere An Illustrated Introduction Tuttle Martial Arts 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 book is hard to believe I don t mean that I don t believe the story I mean it s just so so difficult to believe that so many smart people were fooled by a product that simply never workedThis is the story The Empirical Stance The Terry Lectures Series of the spectacular rise and fall Book of Isms of a silicon valley startup that was going to change the world Theranos was the brainchild バガボンド 1 of Elizabeth Holmes a twenty something wunderkind Its main product was going to revolutionize blood testing by doing away with nasty big needles and use a tiny drop Расул Гамзатов Стихи of blood to perform hundreds Disrupted My Misadventure in the Start Up Bubble of medical tests It s a great idea a shame it never got close to workingWith her wide blue eyes and unexpectedly deep voice she bamboozled everyone Carreyyou tells the long sordid tale interviewing scared Theranos workers doctors trying to use their products and even distraught patients But there is very little analysis At the end Microsoft Office Excel 2007 for Project Managers of the book we still don t know how board members like George Schulz and Henry Kissinger both previous US secretarys Uncle Tom's Cabin; or, Life Among the Lowly of state successful business men and diplomats and top investor Rupert Murdoch super smart media mogul and many Hawk's Passion other similarly accomplished men all invested literally hundreds Girls of Brackenhill of millions A Beautiful Dark of dollars into this enterprise without ever seeing anything remotely like a properly working machine Entire boards After We Fell of huge companies such as Walgreens and Safeway totally supported her project and started the roll Damsels in Distress out The Thread of defective devices in their stores On top Renewing Pastoral Practice Trinitarian Perspectives on Pastoral Care And Counselling Explorations in Practical Pastoral and Empirical Theology Explorations Practical Pastoral and Empirical Theology of all that many doctors uickly saw that the results Going Grand of the Theranos tests were wrong But the caravan continued to roll The Reject on people continued to invest vast amounts Screenwalks of money business institutions continued to heap praise and awards Battle Ground on Ms Holmes It is just crazyIt s not enough to just say Holmes had charisma and charm There must be to it than that People really wanted it all to be trueThe book s release is somewhat premature At the time Rightfully the Alpha Female of publication Theranos was still a working company although its workforce has been reduced from a spectacular 800 to a mere couple Twin Obsessions of dozen and the law suites and investigations have a long way to go We still don t know what penalties are going to be handed Soulbinder (Spellslinger, or even understanding Venus in the Cloister: or, the Nun in her Smock of what she has done Perhaps it will take another book to explain the psychology behind Holmes and those who fell under her spell

REVIEW ✓ eBook, ePUB or Kindle PDF Ö John Carreyrou

Bad Blood: Secrets and Lies in a Silicon Valley Startup

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

SUMMARY Bad Blood: Secrets and Lies in a Silicon Valley Startup

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


9 thoughts on “Bad Blood: Secrets and Lies in a Silicon Valley Startup

  1. says:

    This book is hard to believe I don't mean that I don't believe the story I mean it's just so so difficult to believe that so many smart people were fooled by a product that simply never workedThis is the story of the spect

  2. says:

    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

  3. says:

    What an incredible shame the Theranos start up turned out to be It's a wonder that it took so long for people to become aware of what had been happening for a very long time The intimidation tactics bullying threats to employees money is often the justification people use to hide behind their ugly behavioursIt is a great b

  4. says:

    This is indeed a sad sad sad book The tale of how almost one billion was wasted over 10 years of lies and deceit

  5. says:

    Drop everything you're doing and start reading it It's an utterly engaging mix of genres investigative journalism psychology at times psychiatry organisational behaviour business but most importantly the narration is done in this perfect documentary style when even the most chilling events are described with high precision but without falli

  6. says:

    At a time when trust in media is at an all time low in the US this book reminds us why investigative journalism is still needed to help ordinar

  7. says:

    This has to be one of the best written books I have read the style of writing is clear and concise not overly complex or long winded as often happens with such complex business story The flow of the writing and story telling is also

  8. says:

    I missed this book when it launched but Alex Gibney's excellent 2019 HBO doucmentry 'The Inventor Out for blood i

  9. says:

    I read this book in straight 48 hours since boarding a long haul flight Mesmerising excellently researched grippingjust could not put it down This is a moral story comprising the ugly greed laden face of Silicon Valley and its founde

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