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The story could have been different. 9-year-old little girl Elizabeth Homes wrote a letter to her father, she would discover something that nobody in the world could ever imagine that can do. Elizabeth Homes admitted to Stanford University after secondary, high school.
After a year of chemical engineering student Homes educated, he left the university in the second year. He wrote the name of the famous “dropout” of Silicon Valley to make his dream a reality. Founded at the age of 19, Theron’s name-health-technology institute was established. The new university dropout, smart, educated young woman, has set her medical technology up to date with the whole world.
Established in 2003, the initial institutional value of Theranos was $ 30 million, which is increasing to $ 9 billion in 2014. Elizabeth Homes headline in one magazine and newspapers. He would have called “next Steve Jobs”. Elsewhere, Elizabeth did the merits of expectation with Theranos. But there was a problem. Which brought Elizabeth Homes and Theranos to the ground. What happened The story is in the rest of the post.
That Theranos had so much of what happened, a medical test / diagnostic company. Theranos and its founder-CEO Elizabeth Homes had said from the beginning that it is possible to do several thousand thousands of medical tests with only a few drops of blood from the human finger through their own device. It will cost very little, which will bring revolutionary changes in the medical field. In order to increase the company’s name and credibility, Elizabeth was very tactful to present Til as the rhythm in various lectures. Meet the big people.
Elizabeth claims that at least 90 percent of other blood-diagnostic machines in the blood-testing machine market can work, and only a few drops of blood are enough. But what actually happened, Theronosaur’s machine could do a very limited test. The company develop the existing standard machines in the market and test them with blood, and use to say that they were made on secret machines made by Theron’s own technology. After this, Theranos collected millions of dollars of dollars with an exaggeration of information. The company has digested the eyes of investors and digested it.
This is not the end here. Theranos themselves also talk about false ties with the US government. The company claimed that the United States Army has tested various types of blood tests on the battlefield using the technology of Theranos. Although this claim is maks large, Tharen’s device would have extensively.
Machine Report Incorrect
Once the process of running the Theranos machine was found to be incorrect. Then the company was forced to redo those tests. Theranos released thousands of tests on their device called ‘Edison’. They announced a test result of almost two years.
Theranos said in 2014 that the company earns $ 108 million in that year, but it was later revealed that their real income was only $ 100,000. It also came out in the newspapers that it also promoted the fake praise of various high profile individuals/organizations.
In One Investigative Report
The company also has more publicity, their revenue (revenue) will be potentially 1 billion dollars in 2015. But this expected income was not possible as a government. In 2015, the influential American Wall Street Journal, in an investigative report, leaked all the jurisdictions in Theranos. Many people in this year may have forgotten the story of Theranos.
But in the words that say, “The last of the masters”. The US Securities and Exchange Commission (SEC) released a huge report last week against Theranos, the company’s CEO and President so that Elizabeth Homs is fine $ 700 million for cheating.
According to the SEC, Elizabeth Homes and her company Theranos have periodically collected money from investors with false information. Elizabeth Homs is fine $ 700 million for this fraud. Elizabeth then negotiated with the SEC. He agreed to pay a fine of $ 5 million, but the condition is that Homer will leave his 18.9 million shares in Theranos Company. Along with that, Elizabeth Holmes will not be the official or director of any public company for the next 10 years. Later, more legal measures could come against Elizabeth.
The Technology Is Working On The Development Of Technology
Theranos still survive as a company. The organization says that they are working to improve their technology. Elizabeth Homs, who had been the world’s youngest billionaire, hanging the radiant device of the illusory device, saying that the revolution in health-technology has brought its total wealth down to zero. Theranos Company has not bankrupt, has survived. In 2017, it announced the pruning of 220 workers, 41 percent of its workforce.