The Resource Bad blood : secrets and lies in a Silicon Valley startup, John Carreyrou

Bad blood : secrets and lies in a Silicon Valley startup, John Carreyrou

Label
Bad blood : secrets and lies in a Silicon Valley startup
Title
Bad blood
Title remainder
secrets and lies in a Silicon Valley startup
Statement of responsibility
John Carreyrou
Creator
Author
Subject
Genre
Language
eng
Summary
"The full inside story of the breathtaking rise and shocking collapse of a multibillion-dollar startup, by the prize-winning journalist who first broke the story and pursued it to the end in the face of pressure and threats from the CEO and her lawyers. 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 Tim Draper, Theranos sold shares in a fundraising round that valued the company at $9 billion, putting Holmes's worth at an estimated $4.7 billion. There was just one problem: The technology didn't work. For 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 questions, 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 company's value was zero and Holmes faced potential legal action from the government and her investors. Here is the riveting story of the biggest corporate fraud since Enron, a disturbing cautionary tale set amid the bold promises and gold-rush frenzy of Silicon Valley"--
Tone
Writing style
Award
  • New York Times Notable Book, 2018
  • Library Journal Best Books, 2018.
Review
  • /* Starred Review */ An apparent scientific breakthrough rests on a quicksand of deception in this riveting account of the rise and downfall of notorious biotech firm Theranos. Expanding on his award-winning investigative scoops, Pulitzer-winning Wall Street Journal reporter Carreyrou recounts how Elizabeth Holmes, a charismatic Stanford dropout, started Theranos with claims of a revolutionary blood-testing technology that needed just a few drops from a finger-prick rather than tubefulls drawn from veins with needles. Her start-up became the toast of Silicon Valley, with a $9 billion valuation and a board including former secretaries of state Henry Kissinger and George Shultz. The reality, he reports, was less stellar: the company’s flawed tests did not meet regulatory standards and gave dangerously inaccurate results, investors and journalists were snowed with fake demos, and Holmes and her second-in-command (and boyfriend), Sunny Balwani, dismissed employees’ concerns and drove many out with verbal abuse and computer surveillance. The author’s investigation is part of the story: as he pursues the truth, Theranos’s attorneys, led by Bush v. Gore lawyer David Boies, intimidate his sources with lawsuit threats. In the end it is Holmes who is targeted with a lawsuit by the Securities and Exchange Commission for “an elaborate, years-long fraud” and forced to relinquish voting control over the company and pay a six-figure penalty. Carreyrou blends lucid descriptions of Theranos’s technology and its failures with a vivid portrait of its toxic culture and its supporters’ delusional boosterism. The result is a bracing cautionary tale about visionary entrepreneurship gone very wrong. Agent: Eric Lupfer, Fletcher & Company. (May) --Staff (Reviewed 05/14/2018) (Publishers Weekly, vol 265, issue 20, p)
  • /* Starred Review */ Carreyrou's clearly written and accessible work can be compared to another outstanding business exposé, James B. Stewart's --Harry Charles (Reviewed 06/15/2018) (Library Journal, vol 143, issue 11, p83)
  • A deep investigative report on the sensationalistic downfall of multibillion-dollar Silicon Valley biotech startup Theranos. Basing his findings on hundreds of interviews with people inside and outside the company, two-time Pulitzer Prize-winning Wall Street Journal reporter Carreyrou rigorously examines the seamy details behind the demise of Theranos and its creator, Elizabeth Holmes. Founded in 2003, when Holmes was just 19, the company's claim to "fame" was its revolutionary blood-testing system, which touted the detection of everything from high cholesterol to hepatitis C to cancer using only one drop of blood. While raising $9 billion through a series of aggressive (and falsified) claims and dozens of private investors, the company's spiking net worth caught Carreyrou's attention a few years ago. His eye-opening reporting on the company's inaccurate, voided, or corrected test results, as well as the loss of major retail partnerships with Walgreens and Safeway, knocked Theranos off the tech radar and left it irreversibly devastated. The author glosses over Holmes' history as an unpopular high schooler and, later, Stanford dropout, focusing on her early vision of the specialized blood-reading equipment, the rapid evolution of Theranos, and the early skepticism about the device's efficacy and reliability. The well-integrated employee profiles and testimonies effectively support Carreyrou's damning narrative and discredit Holmes as a power-hungry, avaricious young leader who courted venture capitalists with specious claims. Former Theranos employees paint Holmes as an increasingly tyrannical leader who demanded allegiance and who swiftly terminated those who she felt fell short of ultimate loyalty. The author brilliantly captures the interpersonal melodrama, hidden agendas, gross misrepresentations, nepotism, and a host of delusions and lies that further fractured the company's reputation and halted its rise. More recently, the Securities and Exchange Commission slapped Theranos and Holmes with fraud charges, though she still touts her device as having improved accuracy and importance. Already slated for feature film treatment, Carreyrou's exposé is a vivid, cinematic portrayal of serpentine Silicon Valley corruption. (Kirkus Reviews, May 1, 2018)
Assigning source
Provided by publisher
http://library.link/vocab/ext/novelist/bookUI
10677386
Cataloging source
DLC
http://library.link/vocab/creatorName
Carreyrou, John
Dewey number
338.7/681761
Index
index present
Literary form
non fiction
Nature of contents
bibliography
http://library.link/vocab/resourcePreferred
True
http://library.link/vocab/subjectName
  • Theranos (Firm)
  • Hematologic equipment industry
  • Fraud
  • BUSINESS & ECONOMICS / Entrepreneurship
  • BUSINESS & ECONOMICS / Finance
  • TECHNOLOGY & ENGINEERING / Biomedical
  • Fraud
  • Hematologic equipment industry
  • United States
http://bibfra.me/vocab/lite/titleRemainder
secrets and lies in a Silicon Valley startup
Label
Bad blood : secrets and lies in a Silicon Valley startup, John Carreyrou
Instantiates
Publication
Copyright
Bibliography note
Includes bibliographical references and index
Carrier category
volume
Carrier category code
  • nc
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
A purposeful life -- The gluebot -- Apple envy -- Goodbye East Paly -- The childhood neighbor -- Sunny -- Dr. J -- The miniLab -- The wellness play -- "Who is LTC Shoemaker?" -- Lighting a Fuisz -- Ian Gibbons -- Chiat\day -- Going live -- Unicorn -- The grandson -- Fame -- The hippocratic oath -- The tip -- The ambush -- Trade secrets -- La mattanza -- Damage control -- The empress has no clothes -- Epilogue
Control code
on1029779381
Dimensions
25 cm
Edition
First edition.
Extent
x, 339 pages
Isbn
9781524731656
Lccn
2018000263
Media category
unmediated
Media MARC source
rdamedia
Media type code
  • n
System control number
(OCoLC)1029779381
Label
Bad blood : secrets and lies in a Silicon Valley startup, John Carreyrou
Publication
Copyright
Bibliography note
Includes bibliographical references and index
Carrier category
volume
Carrier category code
  • nc
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
A purposeful life -- The gluebot -- Apple envy -- Goodbye East Paly -- The childhood neighbor -- Sunny -- Dr. J -- The miniLab -- The wellness play -- "Who is LTC Shoemaker?" -- Lighting a Fuisz -- Ian Gibbons -- Chiat\day -- Going live -- Unicorn -- The grandson -- Fame -- The hippocratic oath -- The tip -- The ambush -- Trade secrets -- La mattanza -- Damage control -- The empress has no clothes -- Epilogue
Control code
on1029779381
Dimensions
25 cm
Edition
First edition.
Extent
x, 339 pages
Isbn
9781524731656
Lccn
2018000263
Media category
unmediated
Media MARC source
rdamedia
Media type code
  • n
System control number
(OCoLC)1029779381

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