The full inside story of the breathtaking rise and shocking collapse of Theranos--the Enron of Silicon Valley--by the prize-winning journalist who first broke the story and pursued it to the end in the face of pressure and threats from the CEO and her lawyers.
In 2014, Theranos founder and CEO Elizabeth Holmes was widely seen as the female Steve Jobs: a brilliant Stanford dropout whose startup "unicorn" promised to revolutionize the medical industry with a machine that would make blood tests significantly faster and easier. Backed by investors such as Larry Ellison and Tim Draper, Theranos sold shares in an early fundraising round that valued the company at $9 billion, putting Holmes's worth at an estimated $4.7 billion. There was just one problem: the technology didn't work.
For years, Holmes had been misleading investors, FDA officials, and her own employees. When Carreyrou, working at the Wall Street Journal, got a tip from a former Theranos employee and started asking questions, both Carreyrou and the Journal were threatened with lawsuits. Undaunted, the newspaper ran the first of dozens of Theranos articles in late 2015. By early 2017, the company's value was zero and Holmes faced potential legal action from the government and her investors. Here is the riveting story of the biggest corporate fraud since Enron, a disturbing cautionary tale set amid the bold promises and gold-rush frenzy of Silicon Valley.
"You will not want to put this riveting, masterfully reported book down. No matter how bad you think the Theranos story was, you'll learn that the reality was actually far worse."
--Bethany McLean, bestselling coauthor of The Smartest Guys in the Room and All the Devils Are Here
"[A] chilling, third-person narrative of how Holmes came up with a fantastic idea that made her, for a while, the most successful woman entrepreneur in Silicon valley... Prizewinning Wall Street Journal reporter John Carreyrou tells [this story] virtually to perfection... [His] description of Holmes as a manic leader who turned coolly hostile when challenged is ripe material for a psychologist... His recounting of his efforts to track down sources--many of whom were being intimidated by Theranos's bullying lawyer, David Boies--reads like a West Coast version of 'All the President's Men.'"
--Roger Lowenstein, The New York Times Book Review
"Carreyrou blends lucid descriptions of Theranos's technology and its failures with a vivid portrait of its toxic culture and its supporters' delusional boosterism. The result is a bracing cautionary tale about visionary entrepreneurship gone very wrong."
--Publishers Weekly (Starred)
"Eye-opening... A vivid, cinematic portrayal of serpentine Silicon Valley corruption... A deep investigative report on the sensationalistic downfall of multibillion-dollar Silicon Valley biotech startup Theranos. Basing his findings on hundreds of interviews with people inside and outside the company, two-time Pulitzer Prize-winning Wall Street Journal reporter Carreyrou rigorously examines the seamy details behind the demise of Theranos and its creator, Elizabeth Holmes... [Carreyrou] brilliantly captures the interpersonal melodrama, hidden agendas, gross misrepresentations, nepotism, and a host of delusions and lies that further fractured the company's reputation and halted its rise."
"A great and at times almost unbelievable story of scandalous fraud, surveillance, and legal intimidation at the highest levels of American corporate power. . . . The story of Theranos may be the biggest case of corporate fraud since Enron. But it's also the story of how a lot of powerful men were fooled by a remarkably brazen liar."
--Yashar Ali, New York Magazine
"In Bad Blood, acclaimed investigative journalist John Carreyrou, who broke the story in 2015, presents comprehensive evidence of the fraud perpetrated by Theranos chief executive Elizabeth Holmes... He unveils many dark secrets of Theranos that have not previously been laid bare... The combination of these brave whistle-blowers, and a tenacious journalist who interviewed 150 people (including 60 former employees) makes for a veritable page-turner."
--Eric Topol, Nature
"Engrossing... Bad Blood boasts movie-scene detail... Theranos, Carreyrou writes, was a revolving door, as Holmes and Balwani fired anyone who voiced even tentative doubts... What's frightening is how easy it is to imagine a different outcome, one in which the company's blood-testing devices continued to proliferate. That the story played out as it did is a testament to the many individuals who spoke up, at great personal risk."
--Jennifer Couzin-Frankel, Science
"Crime thriller authors have nothing on Carreyrou's exquisite sense of suspenseful pacing and multifaceted character development in this riveting, read-in-one-sitting tour de force.... Carreyrou's commitment to unraveling Holmes' crimes was literally of life-saving value."
--Booklist (Starred Review)
Number Of Pages: 352
Published: 21st May 2018
Publisher: Knopf Publishing Group
Dimensions (cm): 24.13 x 16.51 x 2.54
Weight (kg): 0.68