Bad Blood: Secrets and Lies in a Silicon Valley Startup

Bad Blood: Secrets and Lies in a Silicon Valley Startup

by John Carreyrou


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2018 Financial Times and McKinsey Business Book of the Year

The full inside story of the breathtaking rise and shocking collapse of a multibillion-dollar startup, 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 a 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.

Product Details

ISBN-13: 9781524731656
Publisher: Knopf Doubleday Publishing Group
Publication date: 05/21/2018
Pages: 352
Sales rank: 2,040
Product dimensions: 6.40(w) x 9.30(h) x 1.50(d)

About the Author

JOHN CARREYROU is a two-time Pulitzer Prize-winning investigative reporter at The Wall Street Journal. For his extensive coverage of Theranos, Inc., Carreyrou was awarded the George Polk Award for Financial Reporting, the Gerald Loeb Award for Distinguished Business and Financial Journalism and the Barlett & Steele Award for Investigative Journalism in 2016. Carreyrou lives in Brooklyn with his wife and three children.

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Excerpted from "Bad Blood"
by .
Copyright © 2019 John Carreyrou.
Excerpted by permission of Knopf Doubleday Publishing Group.
All rights reserved. No part of this excerpt may be reproduced or reprinted without permission in writing from the publisher.
Excerpts are provided by Dial-A-Book Inc. solely for the personal use of visitors to this web site.

Table of Contents

Author's Note xi

Prologue 3

1 A Purposeful Life 12

2 The Gluebot 26

3 Apple Envy 44

4 Goodbye East Paly 61

5 The Childhood Neighbor 82

6 Sunny 101

7 Dr. J 122

8 The miniLab 144

9 The Wellness Play 165

10 "Who Is LTC Shoemaker?" 181

11 Lighting a Fuisz 199

12 Ian Gibbons 213

13 Chiat\Day 227

14 Going Live 243

15 Unicorn 263

16 The Grandson 278

17 Fame 303

18 The Hippocratic Oath 321

19 The Tip 336

20 The Ambush 362

21 Trade Secrets 376

22 La Mattanza 390

23 Damage Control 403

24 The Empress Has No Clothes 423

Epilogue 443

Acknowledgments 453

Notes 457

Index 503

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Bad Blood: Secrets and Lies in a Silicon Valley Startup 4.5 out of 5 based on 0 ratings. 33 reviews.
Anonymous More than 1 year ago
This book is like watching a horrific train wreck in slow motion (but you cannot look away.) If you enjoy business books like "Den of Thieves", you will love this book! I don't know what is more astounding. The moral bankruptcy of Elizabeth Holmes or her ability to con really smart people. A great read!
Anonymous More than 1 year ago
I work in the medical device industry and was fascinated,shocked, and disappointed in what Ms. Holmes perpetrated. This story reminds me of the value of the FDA and CMS in helping ensure the safety of equipment created and sold to help people does just that. Her treatment of her employees, her board, her customers is criminal, irrespective of what the courts ultimately decide. As a member of the industry I sincerely hope she goes to prison as a representation of what should happen to executives causing that kind of harm to patients.
Anonymous More than 1 year ago
This book and the events that it depicts are fascinating and slightly horrifying at the same time. I spent 38 years as an physician / orthopedic surgeon. One of my best friends was the lab manager in our multi-specialty Clinic. I have given him a copy along with the lab manager at the hospital I was associated with. I am slightly surprised that the author had the courage to write this in face of the ruthlessness of Ms Holmes.
Anonymous 11 months ago
Fascinating main subjects, but the author introduces way too many characters to follow - some of which are unnecessary to the main story. Also, the lengthy and lifeless chronological explanations of facts waxes boring instead of being weaved into an interesting storyline. It’s almost as if this book was rushed to press to beat other books, documentaries, etc. The overall subject makes it worth slogging through, but settle in for as much yawning as page-turning.
Anonymous More than 1 year ago
This book is a thriller. When I had to put it down to pay some attention to normal life duties, I found myself continually wondering what I would discover in the next chapter. This is one amazing - and amazingly written - story.
Anonymous More than 1 year ago
As someone who has created a diagnostic device, Levl, this book makes me feel really good about doing things the right way. Yes, its hard, frusfrating, takes longer and costs more but, you must put helping people above short term profits and greed. Thanks for exposing this and giving us faith in others who were brave enough to step forward!
Anonymous More than 1 year ago
This book was a fascinating read about the myth and lies created by Theranos. Incredibly well written, the pacing was superb. Knowing what we know now, it's like a slow train wreck but you can't look away. I highly recommend this book to anyone interested in the rise and fall into of silicon valley's unicorn startups.
Anonymous More than 1 year ago
Anonymous More than 1 year ago
I really enjoyed this book! Very well written. It tells us how Elizabeth Holmes defrauded investors and how she put millions of patients in danger through faulty blood testing.
Anonymous More than 1 year ago
Great read and amazing saga.
KCK_Blogger More than 1 year ago
This book is captivating. Being a medical technologist who works in a hospital laboratory, I can't fathom the things she was able to do. The depth she would go just to get the funding. The things she was letting her laboratory personnel do and the deceit were unthinkable especially since her company deals with lives. How her company lasted as long as it did was unimaginable. Although, I already know what happened in the end and there were times when she would irritate me, I still can't stop reading the book to the end. If you want to know about Theranos, a Silicon Valley startup, a company poised to change the medical laboratory world, how it started, rise and fall. This is a very good book that will keep you turning the pages. Elizabeth Holmes was a young Stanford dropout with a great vision. She is very charismatic and very well connected. She was able to hire great minds from great schools and recruit people from big companies to come work for her. Not only that, she was able to raise funds in the hundreds of millions from reputable investors. She was on her path to become the next Steve Jobs. People who heard her vision just poured in money after hearing her speeches. She ran her company in deep secrecy and fear. Different departments were not allowed to collaborate. Obviously without teamwork and open communication within the company the goal was not met. If you work in the healthcare laboratory field, you know the vision is just too good to be true. But she was a great speaker who made people believe her even without visible reliable proof of anything. Big kudos to the writer/journalist John Carreyrou and those who helped him get the truth out. Carreyrou did not waver and relentlessly pursue his investigation into the company against all the charming tactics, threats and lawyers Elizabeth Holmes sent his way.
Anonymous 6 months ago
Anonymous 7 months ago
I really enjoyed this book I got it on a whim and it suprised me how it pulled me in until the very end
MaleehaS 10 months ago
This is the most fiction-like work of non-fiction I have ever read. It reads almost like a thriller where you had to keep turning the page to find out what happens next. I will be surprised if I read another non-fiction book as enrapturing as this one for a long while. As someone who has worked in the biotech industry and is currently pursuing graduate studies in biotechnology regulatory affairs, I am astounded by the sheer number of lies, deception, manipulation, and fear tactics that Theranos employed to promote/sell a technology that never worked properly and endangering the lives of thousands of patients. That's corporate greed at its finest. Hats off to John Carreyrou for bravely exposing these monsters and all of the sources who stepped up to do the right thing by taking the issue up with federal regulators. Who knows how much longer this would have gone on without them.
Anonymous More than 1 year ago
What a book! It will be a classic. So well documented, so honest, so courageous! It is an exposure of how easy it is to con people, even the most sophisticated and experienced ones. One sees how money and power can corrupt and turn people into bullies and thugs. However, there were a lot of good, brave individuals who fought back inspite of threats of firing, lawsuits and bankruptcy.
Anonymous More than 1 year ago
Anonymous More than 1 year ago
I had a hard time putting this book down. A little like Fyre Scientology for the lab business.
Anonymous More than 1 year ago
Anonymous More than 1 year ago
MikeJ More than 1 year ago
Excellent Read! Well researched, well written and reads like a novel. I LOVED this book... Please write more, john!
Anonymous More than 1 year ago
Interesting story.
Anonymous More than 1 year ago
Anonymous More than 1 year ago
I think I read this book faster than any book I’ve ever read. I just couldn’t put it down. Riveting from beginning to end.
FCA More than 1 year ago
wow wow wow wow. If you haven’t read this, do yourself a favor and read it. If you don’t generally read nonfiction, then don’t worry because this reads like a fast-paced thriller. The Theranos story is borderline unbelievable. Once I started I could not put it down--I read it one sitting. Definitely the best part of this book is the writing. John Carreyrou deserves all the awards for how he unfolded the storyline & made what could have been dense legal/science concepts very understandable. I actually think he undersold how illegal half of this was, and he understated how much white privilege played into the “success” of Theranos & the downfall of it. But I don’t want to spoil more, so read this! You won’t regret it.
Anonymous More than 1 year ago
A very well-written account of a couple of 21st-century mountebanks who fooled almost everyone on the way to fame and fortune. It is in a way a cautionary tale of the greed and ambition that may be lurking behind the slick public relations of Silicon Valley.