The story could have been different. 9-year-old little boy Elizabeth Homes wrote a letter to her father, she would discover something that nobody in the world could ever imagine that it could be possible. Elizabeth Homes admitted to Stanford University after secondary, high school. After a year of chemical engineering student Homes education, 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, Theranos, a health-technology institute, was established. The new university dropout, smart, educated young Elizabeth has set her medical technology up to date with the whole world.
Established in 2003, the initial institutional value of Theronos was $ 30 million, which was increased to $ 9 billion in 2014. Elizabeth Homes was headlined in one magazine and magazines. He would have been called "next Steve Jobs". Elsewhere, with the therapeutic expectations of Elizabeth's mercury. But there was a problem. Which brought Elizabeth Homes and Theronos to the ground. What happened? The story is in the rest of the post.
What happened to Thoranos is a medical test / diagnostic company. Theoronos and its founder-CEO Elizabeth Homes from the beginning said that it is possible to do several hundred thousand medical tests with only a few drops of blood from the human finger through their own device. It will also cost less, which will revolutionize the medical field. In order to increase the name and credibility of the company, Elizabeth presented Til as the rhythm in many different tactics. Meeting with big people. The idea could have been different. 9-year-old little boy Elizabeth Homes wrote a letter to her father, she would discover something that nobody in the world could ever imagine that it could be possible. Elizabeth Homes admitted to Stanford University after secondary, high school. After a year of chemical engineering student Homes education, 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, Theranos, a health-technology institute, was established. The new university dropout, smart, educated young Elizabeth has set her medical technology up to date with the whole world.
Established in 2003, the initial institutional value of Theronos was $ 30 million, which was increased to $ 9 billion in 2014. Elizabeth Homes was headlined in one magazine and magazines. He would have been called "next Steve Jobs". Elsewhere, with the therapeutic expectations of Elizabeth's mercury. But there was a problem. Which brought Elizabeth Homes and Theronos to the ground. What happened? The story is in the rest of the post.
What happened to Thoranos is a medical test / diagnostic company. Theoronos and its founder-CEO Elizabeth Homes from the beginning said that it is possible to do several hundred thousand medical tests with only a few drops of blood from the human finger through their own device. It will also cost less, which will revolutionize the medical field. In order to increase the name and credibility of the company, Elizabeth presented Til as the rhythm in many different tactics. Meet the big person.
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 tested the existing standard machines in the market and tested them, and used to say that they were made on secret machines made by Theron's own technology. After this, Theronos collected millions of dollars of dollars with an exaggeration of information. The company has digested the eyes of the 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 used various types of blood tests in the battlefield using Theronos's technology. Although this claim was made as large, the tharen's device would have been used extensively.
Once the process of running the Theronos machine proved wrong. Then the company was forced to repeat those tests. Theronos released the revision of thousands of tests done by their device called 'Edison'. They announced the result of the test results of almost two years.
In 2014, Theronos said that the company earned $ 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 has promoted the fake praise of various high profile individuals / organizations.
The company also has more publicity, their revenue (revenue) in 2015 will be possible 1 billion dollars. 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 Theronos. Many people in this year may have forgotten the story of Theronos.
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 Theronos, the company's CEO and the president, so that Elizabeth Homs was fined $ 700 million for cheating.
According to the SEC, Elizabeth Homes and her company Theronos have periodically collected money from investors with false information. Elizabeth Homs was fined $ 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 he will leave his 18.9 million shares in Theronos 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.
Theoranos still survive as a company. The organization says that they are working to improve their technology. Elizabeth Homs, who was the world's youngest billionaire, hanging the radiant device of the illusory device by talking about a revolution in health-technology, its total wealth has now dropped to zero. Theronos company did not have to be bankrupt, somehow survived. In 2017, it announced the pruning of 220 workers, 41 percent of its workforce.
Now Elizabeth Homs and her Theronos are known only because of their unprecedented scandal. Elizabeth Homs might have dreamed of bringing a revolution in medical tests, but she and her organization could not even go near the little Elizabeth's dream. On the other hand, this young woman has become another name of despair, whose talents, speech and big thinking have failed to fulfill the expectations. The word "fraud" is pronounced with its name, which is very sad. But we must definitely fulfill Elizabeth's dreams, although this demand seems apparently a crazy dream.
What can we learn from Theranos incident?
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