When getting off the ground, startups often set goals they might not be able to hit.
Theranos, which promised blood tests that used a fraction of the blood traditional tests used, was no exception.
But what made Theranos different from other Silicon Valley companies that overpromised on what they could do was just how far its founder Elizabeth Holmes got based on technology that wasn’t ready for prime-time, Wall Street Journal reporter John Carreyrou told “60 Minutes” on Sunday.
“Because she raised money, hundreds of millions of dollars, on the basis of this technology not only being ready and working but being commercially rolled out. You’re also lying to the public. You’re lying to patients. You’re lying to doctors. You’re lying to regulators. Most people would call that fraud, as well,” Carreyrou said “60 Minutes.