Tuesday, February 12, 2019

Bad Blood, Great Book


John Carreyrou's Bad Blood: Secrets and Lies in a Silicon Valley Startup blew my mind.  It's a meticulously researched account of Theranos, the medical device/technology startup that Elizabeth Holmes dropped out of Stanford to start.  She raised billions with smoke, mirrors, and her magnetic personality.  She earned the trust and money of well-known, successful, seemingly smart people and even large public companies.  She promised amazing blood tests with one drop of blood, and she was willing to put the health of many at risk before admitting that her company's devices couldn't quite deliver.  You couldn't make this stuff up.

This book was especially interesting to me because I have always been intrigued by the larger than life, narcissistic personality type.  It was also interesting to me because my husband invests in health care companies (not startups so, thankfully, not Theranos) for a living.  Even for those who don't share my personal interests or frame of reference, this book is well worth reading. 

Much has already been written about Theranos and Elizabeth Holmes so I am just going to briefly share my takeaways.

1.  FOMO is a dangerous investment strategy.

2.  Even people with lots of money, success, and knowledge can be snowed.  People want to trust and believe, especially when the product/company seems to have the potential to transform an industry and improve people's health and lives.  If you happen to have millions to invest somewhere, don't skimp on research because you trust the good sense of other investors or board members.

3.  Not to be a glass half empty gal, but often things that sound too good to be true are too good to be true.

4.  Real journalism matters.  Carreyrou had the guts and patience to dig in on this story and see it through (even despite threats to many of his sources) and did a huge public service by sticking with it. 

5.  Scientific research matters.  Real, peer-reviewed studies are invaluable.  Labs that follow proper protocols are essential.  Again, if you happen to have millions to invest, it would be reasonable to want to see the labs and research.

Finally, Bad Blood reminded me that we need more people willing to ask tough questions, play devil's advocate, trust their gut, speak out, and be willing to walk away.






No comments:

Post a Comment