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Billion Dollar Facade: The Rise and Fall of Theranos and Elizabeth Holmes
In the fall of 2015, The Wall Street Journal ran an article on its front page which effectively set the biotechnology world and the insular Silicon Valley scene on fire. Theranos, a much hailed startup which was disrupting the world of healthcare and led by a visionary young woman, was a fraud, the story claimed.
To most people, the article amounted to nothing short of blasphemy. To stain the reputation of Elizabeth Holmes and her company, valued at $10 billion, was to align oneself against progress and it was initially seen as the backward thinking that was prevalent in mainstream, non-Silicon Valley society. Here was the next Steve Jobs, right down to the ridiculous black turtleneck, being tarnished much in the manner Galileo was sabotaged by the Catholic Church for simply telling the truth.
The backlash from Theranos had followed similar lines of argument. The story was completely made up and the firm had rebuttals on hand which would disprove every single line of the story. The reporter who broke the story, John Carreyrou, had his name dragged through the mud and the journal was buried with threats of lawsuits from the powerful law firm representing Theranos.
However, despite the threats and vows to set things right, there was simply too much smoke around Theranos. It seemed as if the Valley had finally removed its blinders and began taking a look at facts. The facts were damning: Theranos and Elizabeth Holmes were frauds. As of current writing, Holmes and her crony are facing multiple charges of fraud and are battling to stave off jail time.
Most stories consist of all sorts of characters – good, bad, endearing and hateful. This story is not like that. Almost every person you will read about in this book is a fraud or behaves in an extremely stupid manner even when confronted with facts. There are no winners in this, just victims and the sociopathic perpetrators of fraud who still have the gall to go around behaving as if they are visionaries.
To most people, the article amounted to nothing short of blasphemy. To stain the reputation of Elizabeth Holmes and her company, valued at $10 billion, was to align oneself against progress and it was initially seen as the backward thinking that was prevalent in mainstream, non-Silicon Valley society. Here was the next Steve Jobs, right down to the ridiculous black turtleneck, being tarnished much in the manner Galileo was sabotaged by the Catholic Church for simply telling the truth.
The backlash from Theranos had followed similar lines of argument. The story was completely made up and the firm had rebuttals on hand which would disprove every single line of the story. The reporter who broke the story, John Carreyrou, had his name dragged through the mud and the journal was buried with threats of lawsuits from the powerful law firm representing Theranos.
However, despite the threats and vows to set things right, there was simply too much smoke around Theranos. It seemed as if the Valley had finally removed its blinders and began taking a look at facts. The facts were damning: Theranos and Elizabeth Holmes were frauds. As of current writing, Holmes and her crony are facing multiple charges of fraud and are battling to stave off jail time.
Most stories consist of all sorts of characters – good, bad, endearing and hateful. This story is not like that. Almost every person you will read about in this book is a fraud or behaves in an extremely stupid manner even when confronted with facts. There are no winners in this, just victims and the sociopathic perpetrators of fraud who still have the gall to go around behaving as if they are visionaries.
- GenresNonfictionBusiness
174 pages, Kindle Edition
First published June 4, 2019
134 people are currently reading
252 people want to read
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Displaying 1 - 10 of 10 reviews
May 15, 2024
great take on the elizabeth holmes and theranos scandal , added a few extra details to both the dropout podcast and the dropout series . really interesting .
March 14, 2022
Pretty interesting read but there is nothing new here.
It kind of is a repeat (different author) of Bad Blood, written prior to this one where we get pretty much all details on all things Theranos.
I have been fascinated by this woman and all the so called "good old boys network" who fell for Holmes bull.
Book is written in a down to earth, enjoyable way, but I just wished there were a few original gems in this one.
It kind of is a repeat (different author) of Bad Blood, written prior to this one where we get pretty much all details on all things Theranos.
I have been fascinated by this woman and all the so called "good old boys network" who fell for Holmes bull.
Book is written in a down to earth, enjoyable way, but I just wished there were a few original gems in this one.
July 26, 2021
Good story of Fraud
A very interesting read on the fraud that has captured many of those who raved about the genius behind the unbelievable deception over many years by the darling CEO who ran a company without a CFO! No one questioned the rapid growth and millions upon millions of dollars in an investment scheme that ruined lives but could have cost many lives as well.
A very interesting read on the fraud that has captured many of those who raved about the genius behind the unbelievable deception over many years by the darling CEO who ran a company without a CFO! No one questioned the rapid growth and millions upon millions of dollars in an investment scheme that ruined lives but could have cost many lives as well.
November 9, 2021
Billion Dollar Facade is truly exceptional. This book is an eye opening experience to the fraud and deceit by Theranos founder Elizabeth Holmes. Written clearly and concisely, it is easy to follow and understand how the dark side of the company evolved. Money was lost and trust violated. The book is highly recommended!
April 2, 2023
good read but recommend going straight to Bad Blood
While I enjoyed this read it quoted Bad Blood a lot. To the authors credit they do mention this from the start. I would honestly recommend bad blood if you are really interested
While I enjoyed this read it quoted Bad Blood a lot. To the authors credit they do mention this from the start. I would honestly recommend bad blood if you are really interested
January 15, 2022
An easy, short read to give you some background on this fascinating story
June 1, 2025
lol, she’s so unhinged 😵💫
August 6, 2025
Well written and informative book on a real world case/situation. Very interesting to read about how everything went down in this specific scandal
December 26, 2019
I liked how it was written, and it was an eye-opening encounter.
February 14, 2023
Very sad. The hubris and arrogance in this book aptly stands as a symbol of what Silicon Valley is all about. I lived there for 10 years. Avoid it like the plague. This book was ok. Not as good as Bad Blood.
Displaying 1 - 10 of 10 reviews