Book Review: Bad Blood by John Carreyrou

This is one of those insane stories that are hard to believe.

This is one of those insane stories that are hard to believe. Midway through reading this book, I had to pause and do an independent search to verify that it was a true story. It is true.

Five years ago, Elizabeth Holmes was a billionaire with a net worth of more than $4 billion, running a unicorn, Theranos, with a valuation of more than $10 billion. Six days ago, Elizabeth Holmes was sentenced to 11 years in prison.

What happened? That's what this book is all about.

Elizabeth Holmes dropped out of Stanford University to found her startup, Theranos. Her idea was simple and revolutionary; she promised that her company would provide a health solution that allowed multiple tests to be conducted with just a prick of blood. Considering how many people hate their bodies to be pierced for blood, her idea was one that could change the world. It turns out Elizabeth was overpromising. She named the major proprietary equipment "Edison.” Within a few years, Elizabeth became the female Steve Jobs of silicon valley. Bold. Visionary. Thinking big. And yes, she wore turtle necks like Steve Jobs too. She was on the cover of Forbes Magazine. She got some of the biggest names in America to back her. From legendary Henry Kissinger to America's famous litigator, David Boies. It looked like Theranos was the next Apple.

One problem was that Edison's signature product was not working. It was all a sham. Elizabeth Holmes had fooled everyone. She had lied and said that her product was working. Lied to government agents, lied to investors, lied to big stores, and lied to the world. Her luck ran out when John Carreyrou became interested in her company. Something just didn't seem right.

After many investigations, talking with many former employees, and following the company for a long period. John Carreyrou decided to write an article for his news company, Wall Street Journal. The damning article began a spiral of so many troubles that Theranos could not survive. One by one, the troubles piled up until the emperor no longer had clothes. Theranos threatened John and his news company several times, but they wouldn't bulge. In fact, threatening others had been a long strategy that Theranos used for many years. In 2018, the company winded down completely, and Elizabeth was charged in court. Six days ago, she was sentenced to 11 years in prison.

It never stopped baffling me how one person could build such a giant company on lies. This says so much about the gullibility of humans and her persuasion abilities.

This was an impressive work by John Carreyrou. You can't help but be impressed by his boldness and his narration. Quite a book here.

This book reminds me that lies can only succeed for a while; eventually, the truth will catch up.

Have you read this?