'Prosecutors described Balwani as an “equal participant” in helping Theranos defraud investors of more than $900mn in funding — which gave the company a valuation of $9bn — on the promise its technology could carry out a range of tests on a single drop of blood.

Instead, the machines failed to perform as promised, as later revealed by whistleblowers, and the company entered a death spiral that has become symbolic of Silicon Valley’s risk-taking culture.'
#Theranos

https://www.ft.com/content/c456dfb5-34d2-4b65-a580-92b23181a358