Theranos’ Epic Self-Destruction Offers Lessons for Biotech Companies

When Theranos was formed in 2003, it promised to be the end-all and be-all of medical testing, a one-stop diagnostic shop from a single finger-prick of blood. What it actually did, as the world now knows, was perpetrate fraud on a massive scale, fooling its board of directors, investors and – worst of all – the physicians and patients who trusted the company to deliver accurate test results.