Bad Blood

Résumé du livre

John Carreyrou is an investigative journalist and recipient of two Pulitzer prizes for his articles in the Wall Street Journal. His previous scoops include reports documenting the fall of Vivendi Universal and US–French relations during the Iraq War.

Elizabeth Holmes’ fear of needles inspired her to envision a revolutionary healthcare device—a wearable patch using microneedles for real-time blood analysis. Partnering with Stanford researcher Shaunak Roy in 2004, she pivoted from this concept to a small device collecting blood via a pinprick, capable of diagnosing numerous conditions. Holmes aimed to democratize healthcare, making diagnostics affordable and accessible, even in remote areas. However, the Edison device faced insurmountable technical challenges, from accuracy issues to environmental sensitivity, undermining its reliability. Despite these setbacks, Holmes captivated investors and the media, likened to Steve Jobs for her charisma and bold vision. Theranos secured high-profile partnerships and a $9 billion valuation by 2014, but its rapid product launches masked critical flaws. The company misled stakeholders, manipulated data, and staged demonstrations to maintain its image, while regulatory evasion and internal dissent compounded its troubles. Ultimately, Theranos’ deceptive practices unraveled, tarnishing its reputation and leaving its ambitious vision unrealized.

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