I watched that company almost from the beginning as a former friend of mine fell head over hills with the story. I have a biology backgrohnd and it was obvious based on the company's behaviour that they did not have the product. It is easy to see the formula. I do find this kind of behavior offensive because of my background, but if this is how that particular community chooses to scam one another, so be it I suppose... She overplayed her cards, if they had at least something developed there would have been possibility of some salvation

 

https://www.cbsnews.com/news/elizab...nder-ramesh-balwani-charged-today-2018-06-15/

Federal prosecutors indicted Theranos founder Elizabeth Holmes and former chief operating officer Ramesh "Sunny" Balwani for allegedly defrauding investors, the U.S. Attorney's Office announced Friday. They are also accused of defrauding doctors.

 

https://money.cnn.com/2018/09/05/technology/theranos-elizabeth-holmes/index.html

Theranos, the Silicon Valley startup whose founder faces fraud charges, is preparing to wind down its business, according to reports.
The Wall Street Journal reported late Tuesday that Theranos CEO David Taylor emailed shareholders to announce the blood-testing company will dissolve. Taylor said the investment bank with which Theranos was working reached out to more than 80 potential buyers, but none were interested.

 

As a resident of the S.F. Bay Area, I am all too familiar with the start up craze that's infected the region's economy and inflating the cost of living. Theranos is just the tip of the iceberg in the ocean of start ups that are going to go belly up and leave investors with worthless stock.

This situation resembles the precursors to the 2008 melt down over 1000s of subprime real estate loans that were bundled into securities and sold on the stock market. However this time, it's start ups that are being bundled and sold to sucker investors and when start ups go belly up, the whole market will crash. So is there going to be another $ Trillion "TARP" bailout of Wall Street?

 

Man's credulity is tested every day. Convince a few government types and you could be rewarded with billions.