Bad Blood: Secrets and Lies in a Silicon Valley Startup

Bad Blood: Secrets and Lies in a Silicon Valley Startup by John Carreyrou provide an account of the rise and fall of Theranos, a private biotechnology company founded by Elizabeth Holmes. Those not normally accustomed to reading about business stories might nevertheless find something to like about Bad Blood for it is not just a business story. The subtitle provides the not-so-subtle hint that more lies within these pages. Carreyrou details a story of runaway ambition, inept corporate governance and a toxic workplace resulting in tragedy. The saga culminates with a criminal prosecution on behalf of defrauded investors (convicted) and defrauded patients (acquitted), with Holmes and her accomplice Ramesh “Sunny” Balwani serving long prison sentences.

Theranos’ raison d'etre was the promise of blood testing technology that would provide a wide variety of blood test results from a small amount of blood obtained from a non-invasive finger prick. Without getting into the science (the book provides an overview), the health care claims never materialized and the technology was bogus. How could a Stanford dropout with one year of chemical engineering under her belt, perpetuate such a fraud? Bad Blood tells a tale of a “fake it till you make it” work culture and Holmes’ magnetic charisma. Holmes persuaded astute investors and some of America’s most respected leaders that she and Theranos were going to revolutionize health care. Read Bad Blood to find out how it all went so spectacularly wrong.

Four stars