ELIZABETH HOLMES

Juicero was nothing compared to #theranos !!! The founder, Elizabeth Holmes pictured here on Forbes as “The Next Steve Jobs” raised $1.4bn, over 10 rounds from firms like DFJ, Fortress, Walgreens etc and got up to a $9bn valuation!

But it was all fraud. Her product never worked. She faked it. I guess these guys would have never guessed someone like this would defraud them. Ironically, After the tech bubble burst, venture capitalists assured us they would never again fall for companies buoyed by massive amounts of hype with few tangible results. Theranos was a reminder that this isn’t true.

A health tech company which claimed to have created blood tests which required only a tiny blood sample, Theranos carried an estimated $9 billion valuation within its first decade. It also made a celebrity out of its youthful founder Elizabeth Holmes.
The problem? A series of damaging reports in the Wall Street Journal, which revealed the technology didn’t actually work as described. The company is now shut down, she has been charged with fraud and everyone lost everything.

Y’all wonder why VC’s have trust issues? Investors this is why you have to do your own due diligence when they let you in these deals don’t depend on the other investor. Legal, financial and product diligence. Every time.

People don’t believe the hype, pay attention to details, not press. Founders: focus on building real businesses not calling yourself the next anybody. Look how she’s even dressed like Steve Jobs!!!

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