THERANOS

Theranos Founded in 2003 by then-19-year-old Elizabeth Holmes, who

was Stanford dropout. Theranos raised more than US$700 million from
venture capitalists and private investors.
TECHNOLOGY AND PRODUCT:
Theranos claimed to have
developed device to automate
and miniaturize blood tests
using microscopic blood
volumes.
 Theranos dubbed its blood
collection vessel the
"NANOTAINER" and its
analysis machine the "Edison.
PARTNERSHIPS
• Theranos, derived from a combination of the words "therapy" and
"diagnosis".
• In 2012, Safeway invested $350 million into retrofitting 800 locations
with clinics that would offer in-store blood tests
• Theranos partnered with Walgreens to offer in-store blood tests at
more than 40 locations.
Theranos blood tests were reportedly used on drug trial patients for
GlaxoSmithKline and Pfizer, each company stated that there were no
ongoing active projects with Theranos in October 2015.
 MANIPULATIVE NATURE
• 1. “You’re changing the world.”
The appeal to a higher calling is a common way they persuade victims
to overlook red flags.
2. “It’s on you.”
“The miniLab is the most important thing humanity has ever built. If
you don’t believe this is the case, you should leave now,”
Guilting is extremely powerful tactic.
3. “It’s us versus them.”

For Theranos’ top leaders, it was them against the world, and they sent that message to employees.
Holmes also invoked this us-against-them message in a televised interview

“First they think you’re crazy, then they fight you, then you change the world.”

4. Change of Voice

• Holmes speaks in a deep baritone that, as it turns out, is allegedly fake,

• Theranos’s downfall, that Holmes occasionally “fell out of character” and exposed her real, higher voice —
particularly after drinking.
• She thought it would achieve the desired effect of making her seem like a Silicon Valley visionary,
• People generally do the things they do because they believe the benefits greatly outweigh the costs.