July 8, 2019
I recently finished the audio book version of the nonfiction book titled “Bad Blood”. It accounts the history and downfall of a Silicon Valley startup that essentially lied their way to hundreds of millions of dollars in funding and a 9 billion dollar valuation. The company itself was called Theranos and they are no longer in operation.
As far as being an audio book, the reader Will Damron is alright if a little dry for my tastes. I’m listening to this coming off of the Game of Thrones series of audio books (which are excellent by the way) so my opinion on voice talent might be a little biased! Regardless of the reader, the book is extremely interesting.
It begins with Elizabeth Holmes’ childhood and her journey to founding her company after just one year in Stanford. From there it’s written mostly from the perspective of the author John Carreyrou and his slow but steady march to uncovering the company’s flawed business. His findings were first published in The Wall Street Journal which is linked at the bottom of the post.
Without going into too much detail because it’s really an excellent read, Elizabeth and her inner circle were able to push vaporware for years while investors kept piling on from the hype train the ensued. The book was published in 2018 and the fallout is still ongoing. At the moment, Elizabeth Holmes is scheduled to go to trial the summer of 2020.
I think this book is great at being both a cautionary tale of managing expectations, and a glimpse of the tech industry in general for the practice of introducing products first and hoping the technology catches up in time to make them a reality. With how fast this industry advances, it almost feels like not stretching the truth a bit when seeking investment and buzz will lead to your competitors doing it first, and possibly getting away with it. It reminds me of Lance Armstrong and the blood doping scandal that revealed it was a common practice in most of competitive cycling because without it, you couldn’t compete. Maybe the tech industry does need more regulation? Or maybe this is just an unfortunate side effect of the system that has made the United States such a hotbed of innovation.
Book Link:
Relevant article links:
https://www.wsj.com/articles/theranos-has-struggled-with-blood-tests-1444881901
