2021 American Institute for Economic ResearchPrivacy Policy, AIER is a 501(c)(3) Nonprofit registered in the US under EIN: 04-2121305. All told, Mosley helped connect Theranos to $403 million, more than half of the startups $730 million funding round that began in June 2014. An investor who was introduced to Theranos by former Secretary of State, Henry Kissinger, testified in Elizabeth Holmes' criminal trial. One big reason for the rich valuation was the agreements Theranos told investors it had reached with pharmaceutical partners. GlaxoSmithKline Zika Virus Vaccine: Coverage and Aid through Patient Assistance Programs, 25. May 18, 2018.. https://www.wsj.com/articles/theranos-inc-s-partners-in-blood-1526662047. Few will admit it, but degrees are credentials that confirm someone learned yesterdays news very well, or passably well in many instances. See the complete profile on LinkedIn and discover Henry's . One of her original investors, venture capitalist Tim Draper, has made plain that he would back her again. journalists in 50+ countries covering politics, business, innovation, trends and more. The box was called a reader. What Shaunak had just described sounded like a sham. K&N's: A Vertically Integrated Business Approach, 39. FDA Crisis for Pfizer: The Impact of an FDA Warning On the Company, 40. August 4, 2020. (3) Pollack, Andrew. She was also convicted on one charge of conspiracy to commit wire fraud against investors. , Webinar The cartridge would slot into a rectangular box the size of a toaster. And evidence that youre very unfamiliar with my writing. Most Mortgages Locked in at Historic Lows, Amazon Pauses Work on 2nd Headquarters in Virginia, Crypto Companies Behind Tether Used Falsified Documents and Shell Companies to Get Bank Accounts, 2023 Economic Insight & Best Practices in Financial Risk Management, How Senior Finance Leaders Can Harness The Human Side Of Digital Transformation, 2023 Predictions for Finance & Accounting, Accelerate Your Path to Agile FP&A with Continuous Financial Planning, Finance Transformation: How to Adopt an Agile Approach and Get Management Buy-in, FASB studies AI use in financial data analysis, IRS Commissioner-nominee pledges to uncover corporate taxes owed. When he confronted her with this fact, Holmes fired him on the spot and declined to hire a CFO to replace him. More than those with sharp knives would perhaps care to admit, the story of Holmes and Theranos is in countless ways veryordinary. She additionally mentioned that Novartis was so impressed that they have asked for a proposal and have expressed interest in a financial arrangement for a project. Some will respond that the responsible thing for Holmes et al to have done would have been to tap the brakes as it were, to moderate expectations in consideration of the companys audacious vision,tounderpromise. Softbank is the largest tech investorin the world, with a war chest of more than $100 billion in two capital funds. His book on current ideological trends is: They Are Both Wrong (AIER, 2019), 250 Division Street | PO Box 1000Great Barrington, MA 01230-1000, Press and other media outlets contact888-528-1216[emailprotected]. Goodness, the Wright brothers owned a bike shop as opposed to college degrees from some well-regarded school of engineering, Thomas Edison had no formal education beyond the 8thgrade, and then Steve Jobs was a Reed College dropout. Wall St Journal reporter John Carreyrou uncovered the lies and unfounded claims that shielded Theranos's unreliable technology in his book Bad Blood: Secrets and Lies in a Silicon Valley Startup, published in May this year. But Mosley sensed he was holding back and kept pressing him. (10) ABC News, ABC News Network, abcnews.go.com/Business/theranos-employees-wife-people-elizabeth-holmes-jail-dropout/story?id=60707423, (11) Lidow, Derek. This would prompt the patients to completely change their lifestyles or would possibly not even be aware that they needed a lifestyle change in the first place. How Important is Privacy? ET, Presented by studioID and Dun and Bradstreet, Nikola fined $125M for founder's exaggerations, Musk tweets violated SEC rules, WSJ reports, CEO, CFO of electric truck maker Lordstown resign; misleading demand alleged, CFOs step up as companies look for strategic guidance, CFOs struggle to move past transactional responsibilities, Economists push back estimated recession date: NABE, CFO best practices: Biggest lessons for 2023, Digital transformation in todays finance landscape, How CFOs are using sustainability goals to drive investments, Are US Interest Rates Going Up? After that, one senses that some of Holmess biggest critics have never run a start-up, let alone a business. As Theranos Drama Unwinds, Former Patients Claim Inaccurate Tests Changed Their Lives. USA Today. How the biggest companies plan mass lay-offs, The benefits of revealing neurodiversity in the workplace, Tim Peake: I do not see us having a problem getting to Mars, Our ski trip made me question my life choices, Michelle Yeoh: Finally we are being seen, Apocalypse then: lessons from history in tackling climate shocks, How Glasgows tiny, muckraking crime mag stays afloat. next to their name, Ill counter with a famous Bartletts quote: There are more people killed by good doctors than by good generals. Attempts to discredit Holmes for not being a doctor, and for not having completed her studies at Stanford, are the stuff of very small minds. The Wright brothers were viewed as impossibly strange oddities, J.P. Morgans father (Junius Spencer Morgan) thought his son was nuts for backing Thomas Edison and his outlandish light bulb idea, not to mention how roundly the iPhone was rejected as a niche product by top technology minds (Theres no chance that the iPhone is going to get any significant market share. Theres nothing in his background that would suggest he can comment knowledgeably on what it takes to run a company, but assuming he happened on an error through his reporting, its one that once again doesnt mean much in isolation. The company even has an amazing story of an incredibly smart female CEO who wants to help save the world. John Howard, the senior vice president for products, had overseen Panasonics chip-making subsidiary. Keep up with the story. And he was right. Along the lines of the above, later in the book its reported that Theranos conducted blood testing in Thailand even though it wasnt clear that Theranoss activities in Thailand were sanctioned by local authorities. Carreyrou was plainly dismayed, but then regulators with a very conservative (in the non-ideological sense) view of the world have long existed as barriers to change agents in our midst. When Shaunak demonstrated the system to investors, he pointed them to a computer screen that showed the blood flowing through the cartridge inside the reader. This requires mention ahead of the disclosure that I live in the same apartment building as Holmess parents, and consider them friends. Get our top stories delivered to your inbox, unsubscribe any time. All four families were sold on the project by estate lawyer Daniel Mosley and his employer Henry Kissinger. Sorry, but entrepreneurs are different from you and me. The blood-testing startup had racked up a $9 billion valuation with its big vision to test for a number of conditions using a small sample of blood, and its CEO Elizabeth Holmes was featured on the covers of business magazines and lists of top executives. This technology would be able to analyze over 100 tests all within minutes at a local Walmart or Walgreens(2). Wade Miquelon, CFO of Jo-Ann Stores who was CFO of Walgreens when it entered into a 2013 agreement with Theranos to operate in-store testing sites, said during the trial Walgreens never tested Theranos main product, a blood-testing device called Edison, before agreeing to pay the company a $100 million innovation fee and take an ownership interest with a $40 million equity investment. "I thought the company had enormous potential for good in the world, for being able to do this sort of testing as described," Mosley said. When a jury convicted former Theranos CEO Elizabeth Holmes on January 3 on four counts of fraud, it laid bare what happens when investors gloss over the importance of due diligence in their rush to be part of the next big thing but it also showcased the importance of the CFO in keeping a company grounded to reality. Entrepreneurs arent entrepreneurs if theyre not overcoming enormous suspicion. One of those executives was Henry Mosley, Theranos's chief financial officer. Hot Startup Theranos Has Struggled With Its Blood-Test Technology.The Wall Street Journal, Dow Jones & Company, 16 Oct. 2015, www.wsj.com/articles/theranos-has-struggled-with-blood-tests-1444881901. Lucas and Ellison had both put some of their own money into Theranos. Through the years Theranos would slowly progress into a billion-dollar company and make Holmes a hero in the medical community and celebrity everywhere else. One of the big problems that never was solved for Theranos was the equipment needed a specific volume, and since Holmes was set on using a blood prick they would have to dilute the blood, which would skew the data on analysis(6). They were concerned about the false results that would be given to the oncology patients in this trial and wanted to cancel the plan. As Wall Street Journal reporter John Carreyrou details in his book, Bad Blood: Secrets and Lies in a Silicon Valley Startup, the events leading up to the downfall of the company started unfolding years earlier. When prospective investors came by, he took them to see Shaunak Roy, Theranoss cofounder. 2023 Cond Nast. And its arguable that they should view the heights reached by Theranos at one time as a very positive outlier precisely because, as Carreyrou somewhat self-righteously contends throughoutBad Blood, lives are at stake when it comes to healthcare. Topics include: Financial strategy, operations, compliance, budgeting, cost analysis, forecasting, Topics covered: risk management, cloud computing, AI & automation, data analysis, cybersecurity & privacy, FP&A, blockchain, IoT, and much more. Shaunak would prick his finger and milk a few drops of blood from it. It was like a switch had been flipped. Elizabeth Holmes pictured here in 2015(1). Some will choose to dismiss what I write about Carreyrous book based on these disclosures, but that would be unfortunate. 2023 CNBC LLC. Try full digital access and see why over 1 million readers subscribe to the FT, Purchase a Trial subscription for $1 for 4 weeks, You will be billed $69 per month after the trial ends, Russian far-right fighter claims border stunt exposes Putins weakness, Something is boiling: Turkish football fans tackle Erdoan, Three-day weekends and more time for love: Chinas elite dream up policies for Xi, Germany and Italy stall EU ban on combustion engines, Feds Daly says US rates likely to be higher for longer, Saudi owner of Londons most expensive house sued over alleged unpaid private jet bills, Why the Jeffrey Epstein scandal continues to haunt JPMorgan and Barclays, US electric vehicle batteries poised for new lithium iron age. The one thing Mosley wasnt sure he completely understood was how the Theranos technology worked. Elizabeth was often upbeat. I would simply like with time to benow. Times Internet Limited. Indeed, even if we accept uncritically Carreyrous reporting about false alarms that resulted from Theranoss blood tests, use of third party testing systems when Theranos technology didnt yet measure up, secretive operations defined by all manner of non-disclosure agreements, along with overpromising, the fact remains that Holmess intrepid ways that ultimately proved a magnet for capital brought the healthcare field closer to a better way of testing blood; one that in perfected form could lead to much healthier, and longer lives. Few disagreed with thePost. Diane Parks, Theranoss chief commercial officer, had twenty five years of experience at pharmaceutical and biotechnology companies. John Tamny, research fellow of AIER, is editor of RealClearMarkets. The first set of numbers hed come up with hadnt been to her liking, so hed revised them upward. So, what exactly had happened with Novartis? No chance. Steve Ballmer, CEO Microsoft, 2007) ahead of launch. One of those executives was Henry Mosley, Theranoss chief financial officer. Thats lots of time to work out the bugs from the process. Algemene voorwaarden | Privacybeleid | Cookie-overzicht| Adverteren | Vacatures, Foto: Courtesy HBO Shaunak gradually let down his guard and allowed that the Theranos 1.0, as Elizabeth had christened the blood-testing system, didnt always work. Hed later gone on to run the finance departments of four different tech companies, taking two of them public. If what Holmes envisioned had been easy, had it worked perfectly during Moore and Brauerlys testing, then its a safe bet it would have already been done. Are mergers the right approach for big pharma and biotech? I think you should leave right now.. A lack of confidence in front of investors is the path to investor flight. We cant keep doing that.. Or the second, third, orthousandthtime? Holmes started Theranos in 2003 when she was a 19-year-old Stanford dropout. Wade pressed Mosley further on his vetting process, showing him various webpages from Walgreens and Theranos that contained footnotes disclaiming that venous draws may be used instead of finger pricks. Did they really think Theranos would have gotten as far as it did had Holmes been mostly nonchalant about her vision? It got even worse in 2015 when the technology was estimated to be have been used on over 176,000 people (8). Henry has 1 job listed on their profile. Elizabeths expression suddenly changed, Carreyrou said in the book. analyse how our Sites are used. Carreyrou theoretically broke the story of Theranos technology not living up to the hype initially attached to it (more on this in a bit), and as such, he knew how the story ended. Dont worry, it gets better. This week, Elizabeth Holmes, the founder of Theranos was found guilty of 4 counts of fraud in a US court. All that, plus as evidenced by the aforementioned second meeting at Novartis, what had Shaunak worried plainly hadnt wrecked the companys chances. To the previous sentence some will respond that healthcare is different, thats certainly the view of Carreyrou (throughoutBad Bloodhe makes a case that non-doctors shouldnt be crafting healthcare advances since the lives of patients are at stake), but to those with exalted views of doctors and who think medical advances should be left to those with M.D. Phyllis Gardner, a professor at Stanfords medical school, was one of those skeptical doctors interviewed by Carreyrou. The memos and slideshows resurfaced in the testimony of Daniel Mosley, who invested "a little under $6 million" in Theranos, after his buddy Henry Kissinger, a Theranos board member, asked. One of the two readers Elizabeth took to Switzerland had malfunctioned when they got there. In the absence of that due diligence, he indicated during the trial, he was surprised to learn the company was using outside technology to do much of its testing. For one to be a flying enthusiast back then was for that same person to be mocked as a crank, a crackpot, and seemingly with good reason. They did so well aware of the failure rate within Silicon Valley. But Carreyrou's book also highlights the role of Henry Mosley, the chief financial officer at Theranos who was fired by Holmes in November 2006 for questioning the reliability and integrity of the company's lab-testing systems and equipment. Terms & Conditions! See the complete profile on LinkedIn and discover Henry's . About Tim Kemp, who was head of Theranoss software team, Carreyrou reports that he was a yes man, and that many of his colleagues thought Tim was a mediocrity and a terrible manager. One wonders yet again how Kemp would be written about were Theranos still worth billions, but for now Carreyrous reporting reads yet again as so what? In its verdict this week, the jury found her guilty of three counts of wire fraud against individual investment firms, including Lakeshore Capital Management, which gave the company $100 million, and PFM Healthcare Master Fund, which gave it $38 million. It was that recorded result that was displayed at the end of each demo. What had drawn Mosley to Theranos was the talent and experience gathered around Elizabeth. or Carreyrous response might be that more than a few of the credentialed emerged from their time at Theranos quite a bit more than skeptical. Mosley first guessed something was wrong when he noticed that Theranos employees were unhappy following a demonstration Holmes gave to pharmaceutical firm Novartis in Switzerland. Not so fast. . 2012, www.nytimes.com/2012/04/24/business/george-rathmann-chief-of-amgen-dies-at-84.html. In the criminal trial of Theranos founder Elizabeth Holmes, the jury heard that the matchmaker was Daniel Mosley, the estate attorney for former secretary of state and Theranos board member Henry Kissinger. Data is a real-time snapshot *Data is delayed at least 15 minutes. It was a star-studded cast filled with many important and recognizable names that brought a lot of attention to Theranos like George Schultz and Henry Kissinger, two former secretaries of states(1). The world needs more visionaries like Holmes. Investors are always and everywhere compensated for high odds of failure by greater ownership of any potential upside. This along with Sunny Belwani also berating the employees when he himself had very little knowledge of anything Theranos was doing led to a toxic work environment. Finding that kind of money can be challenging, but thanks to one well-connected matchmaker, Theranos made it look almost easy. Theranos was a former American health technology company founded in 2003 by Elizabeth Holmes. Theranos also signed a deal with Walgreens in 2012 to launch its devices in-store but continuously missed agreed-upon deadlines. Mosley told jurors that Holmes was looking for "high-quality families" to invest in her blood-testing company. A rumpled dresser with piercing green eyes and a laid- back personality, he was a veteran of Silicon Valleys technology scene. Their testing would misdiagnose patients by diagnosing them with an illness they did not actually have or not actually diagnose them at all. Cart; vw t2 electric conversion kit We call these miraclestechnology.. The way she trained her big blue eyes on you without blinking made you feel like the center of the world. Carreyrou might respond that those who werent didnt always last, but were the two related? Didnt it always seem to work when investors came to view it? The new valuation, in particular, was a source of great pride. Source: Business Insider, Business Insider, Foto: Tim Draper defends Theranos on CNBC in 2018.sourceCNBC, Foto: sourceJammy Photography / Shutterstock, Foto: Protein analysis tubes are seen in a lab at the Institute of Cancer Research in Sutton, Britain.sourceReuters, Foto: Footage of Sunny Balwani presenting.source"60 Minutes", Foto: A pharmacist stands in the background as a sign rests on a counter at a Walgreens pharmacy store in Austin, TX, U.S., March 26, 2018sourceReuters/Mohammad Khursheed, Foto: Theranos founder Elizabeth HolmessourceCourtesy HBO, Foto: sourceUS Air Force/Staff Sgt. What was odd, though, was that the handful of colleagues whod accompanied Elizabeth on the trip didnt seem to share her enthusiasm. Theranos star was shining bright going into 2015. Elizabeth wasnt merely asking him to get out of her office. Mosley had a weekly meeting with Elizabeth scheduled for that afternoon. Importantly, the ones that succeed frequently make up for all the failed investments. and other data for a number of reasons, such as keeping FT Sites reliable and secure, Theranos, the blood-testing technology company that was once the darling of Silicon Valley, had one CFO in its 15 years as a business, Henry Mosley, a finance veteran who was fired from the company in 2006 after being in the seat only eight months. The value finance leaders bring to operations is varied but they share a forward-looking vision. Knight and Ovitz are essential to bring up as a reminder of how incredibly difficult it is for entrepreneurs to find financial backing for their visions, and having done so, how necessary it is for them to maintain a brave face. NextGen platform to tackle the changing needs of the financial organization and its DARK DATA. Get the best of KQEDs science coverage in your inbox weekly. This matters a great deal. A Case on AncestryDNA, Therapure Biopharmaceuticals: The Risky Decisions of a Growing Company, CRISPR Therapeutics Novel Use of CRISPR/Cas9 Technique in Disease Therapy, The French Pharmaceutical Giant: A case study of Sanofi. It was also a signal that in recognition of the latter, Theranos aimed for accuracy of results. Staying one step ahead of the competition with Porter's Value Chain Analysis, 13. We did what we came to do!. A start-up that attains backing is almost by definition one with designs on rewriting how things are done in a way that totally rejects how things are presently done (thus setting oneself up for all manner of criticism on the way up), expertly filling needs previously unmet, on the way to the capture of outsize profits. One slide said, "Theranos has been comprehensively validated over the course of the last seven years by 10 of the 15 largest pharmaceutical companies, with hundreds of thousands of assays processed. Please enter the word you see in the image below: In this episode of the Open Treasury Podcast, Craig Jeffery, Paul Galloway and Jack Large discuss 6 topics regarding the economy, debt and technology. U.S. District Court Judge Edward Davila paused proceedings and called the man up to the front of the courtroom to admonish him. This work is licensed under aCreative Commons Attribution 4.0 International License, except where copyright is otherwise reserved. According to Carreyrou, Mosley confronted Holmes later that day but she down-played the malfunction of the demo machines at the Novartis meeting. Prosecutors showed a binder that was given to Mosley. Both the trial and a 2018 agreement that Theranos entered into with the Securities and Exchange Commission (SEC), to settle earlier fraud charges, suggest investors failed to do the kind of due diligence that would be expected of them in equity deals of Theranos' scale. credentials throughoutBad Blood, he notes that Wolff knew a thing or two about medicine since her dad and her wife were both doctors. Oh dear. Big Pharma and Biotech: A match made in heaven? Precisely becauselives are at stake we want the most creative minds of all working tirelessly to elongate life, and the creative frequently dont have time for school. This rates mention because to the author, Christian reads as a somewhat aimless fraternity guy who is part of what Carreyrou reports was a frat pack of his own making. The Rise and Fall of Theranos. Scientific American. (5) New Book Documents the Rise and Fall of Silicon Valley Wunderkind Elizabeth Holmes | CBC Radio.CBCnews, CBC/Radio Canada, 15 June 2018, www.cbc.ca/radio/asithappens/as-it-happens-monday-full-episode-1.4671937/new-book-documents-the-rise-and-fall-of-silicon-valley-wunderkind-elizabeth-holmes-1.4671941, (6) Paradis, Norman A. Pharmaceutical companies spent tens of billions of dollars on clinical trials to test new drugs each year. Theranos, the blood-testing technology company that was once the darling of Silicon Valley, had one CFO in its 15 years as a business, Henry Mosley, a finance veteran who was fired from the company in 2006 after being in the seat only eight months. We support credit card, debit card and PayPal payments. Pond Technologies Inc. - Target Markets, 34. SAN JOSE, CALIF. A former estate attorney told jurors in Elizabeth Holmes' criminal trial that he invested $6 million in Theranos after being introduced to Holmes by ex-Secretary of State Henry Kissinger. Mosleys unease with all these claims had grown since that mornings discovery. The response to them from this reader was mostlyso what? Henry Moseley, in full Henry Gwyn Jeffreys Moseley, (born November 23, 1887, Weymouth, Dorset, Englanddied August 10, 1915, Gallipoli, Turkey), English physicist who experimentally demonstrated that the major properties of an element are determined by the atomic number, not by the atomic weight, and firmly established the relationship between Harrods chief shrugs off recession fears because rich get richer, FCA regulator blamed for Arms decision to shun London listing, Argentina diary: Come armed with $100 bills, There are no domestic equity investors: why companies are fleeing Londons stock market, Clutching Warrens letter, Im still positive on stocks, The Murdaugh trial: a southern gothic tale that gripped the nation, Humanity is sleepwalking into a neurotech disaster, Who to fire? Gain a global perspective on the US and go beyond with curated news and analysis from 600 The narrative focuses on the figure of CEO and founder, Elizabeth Holmes, once acclaimed as the youngest female self-made billionaire. Furthermore, readers might imagine how this story would have been written had the Theranos story ended more positively. The most impressive number was its new valuation: one hundred and sixty-five million dollars. Besides Holmes, the companys only other senior executive from that point on was Ramesh Balwani, its president and COO, who faces his own. This was a pivotal moment for Theranos. Registratie of gebruik van deze site vindt plaats onder Algemene Voorwaarden en Privacybeleid. Standard Digital includes access to a wealth of global news, analysis and expert opinion. Learn more about how Pressbooks supports open publishing practices. The book gives a behind the scenes look into the events that propelled Theranos into chaos. The majority of the start-up biotechnology companies will have leadership that have Ph.D.s as seen with Amgen and George Rathmann in the 1980s or Walter Gilbert of Biogen(3)(4). Holmes defense attorney Lance Wade asked Mosley whether he confirmed the report with Pfizer itself, and Mosley admitted that he had not. But then questions started being raised about how the companys technology worked. Wade Miquelon, CFO of Jo-Ann Stores who was CFO of Walgreens when it entered into a 2013 agreement with Theranos to operate in-store testing sites. Entrepreneurs by their very descriptor are doing something that will be dismissed by many more than those who embrace them, and this understandably includes those closest to the entrepreneur. Mosley was fired for doing his job. The lack of CFO should have been a warning sign to investors that all was not right, the commentary says. That Theranos allegedly didnt always check with authorities ahead of testing isnt a surprise, nor does it besmirch the company as the author seemingly presumes. What the world can learn from Holmes is that faking it until you make it for such a long time. Even though everything on the outside looked amazing for Theranos, on the inside there was a lot of trouble and ineptitude within the organization. In 2006, the management fired Henry Mosley who served as the chief financial officer for questioning the reliability of Theranos technology and its honesty. Ti thng 7/2007, Theranos cho bit s kin . Her cheerful demeanor of just moments ago vanished and gave way to a mask of hostility. He brought up what Shaunak had told him about the investor demos. 2. Its time to end the witch hunts meant to quiet the minds and actions of those who want to force the change without which there is no progress. CNMN Collection SAN JOSE, CALIF. -- A former estate attorney told jurors in Elizabeth Holmes' criminal trial that he invested $6 million in Theranos after being introduced to Holmes by ex-Secretary of State Henry Kissinger. The airline will be increasing its technology spending following a quarterly loss triggered by its holiday traveling system failure, which resulted in the cancelation of over 16,700 flights in a ten-day period. To miniaturize the iPod Jobs had a supplier and manufactures at hand. This article was initially published in May 2018 and has been updated. In 2006 Henry Mosley, the chief financial officer of Theranos noticed that employees were unhappy after a demonstration of their technology, Edison which analyzed blood samples, to the pharmaceutical company Novartis. As part of the resolution, Holmes paid a fine and cannot be a director or officer of a publicly traded company for 10 years. This highlights one of the key roles of CFOs and other financial executives, which is to maintain a critical and realistic approach to their company's capabilities and claims, while keeping communications with investors thoroughly transparent. In less than two years, Mosley connected several wealthy families and individuals with Theranos, ultimately bringing it over $400 million in investments, a significant portion of the estimated $900 million to $1.3 billion that the startup raised over its lifetime. Rebuilding the pipeline: Celgene and Juno Therapeutics, 29. Based on the few interactions Mosley had had with him, it was clear Robertson thought the world of Elizabeth. Get this delivered to your inbox, and more info about our products and services. A slide deck listed six deals with five companies that would generate revenues of $120 million to $300 million over the next eighteen months. (13) ABC News, ABC News Network, abcnews.go.com/Business/theranos-employees-reacted-elizabeth-holmes-criminal-charges-lot/story?id=61329873. It is a fact that man cant fly. TheWashington Postconcluded the latter in an editorial published around the beginning of the 20th century.