iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
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Theranos Appears to be Full of Shit – FDA

If you recall, last week the WSJ threw Miss Holmes and mega-cap, privately held, blood testing company, Theranos, under the bus.

And now this from the FDA:

Heavily redacted inspection reports, posted Tuesday by the U.S. FDA, said that Theranos’s “design validation did not ensure the device conforms to defined user needs and intended uses.” The name of the device was redacted. In addition, “the design was not validated under actual or simulated use conditions.”

The inspections were conducted Aug. 25 through Sept. 16 at Theranos’s Palo Alto and Newark, California, offices.

In other words, Theranos is full of shit and their magical blood test, which only requires a pin-prick, is most likely a far fetched fantasy.

According to Crunchbase, ATA Ventures, Continental Ventures, Draper Fisher, Tako Ventures, as well as Larry Ellison are investors in Theranos.

Can you say ‘down round’?

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9 comments

  1. Marc David

    Where’s my Iceberg-5? Shit is bulletproof!

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  2. vampyr

    To dream the impossible dream….. It’s the turtleneck. It appears to have fooled a lot of sentimental humans.

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  3. stockslueth

    Ya the BS meter is going TILT. It’s exciting to see it all play out. It will make for a great movie.

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  4. zuul4

    Throw her in maximum security all-male prison.

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  5. geezer

    If you follow here on Twitter you see that she only tweets about feminist shit. Wouldn`t be surprised if the feminists in SV (Sandberg for one) and their clan in media overhyped here. #ironsisters

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  6. speerothekid

    why didn’t they wait til it was public

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