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by junar
1744 days ago
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My impression is that the investors were simply rich and powerful, not necessarily the most skilled. > All of the money Theranos raised came from private placements, fundraising that’s restricted to wealthy investors and disclosed to the SEC via an exemption from registration under securities laws called Form D. Companies can use a Form D to tell the SEC about their fundraising from investors, usually without further scrutiny, as long as the money only comes from “accredited investors.” Accredited investors are either individuals whose net worth exceeds $1 million or who consistently have made over $200,000 per year in income; companies that have more than $5 million in assets also qualify. > Some well-known venture-capital firms did take a pass on investing in Theranos, because of Holmes’s unwillingness to share information about the blood-test technology and results and the lack of established scientific support for it via peer-reviewed research. The company and its board also lacked medical and scientific experience. https://www.marketwatch.com/story/the-investors-duped-by-the... |
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"The BOD (or "Board" as the company calls it) seems a little strange to me as if she runs in rarified circles"
"That BOD is stunning with heavy national security/ military operations. I almost thought it was a CIA cover company."
"Fascinating that they're all national security related, except for the ex-CEO of Wells Fargo. I'm honestly curious how that came about..."
"Wow. That board of directors is a sight to behold. Looks more like a panel at the World Economic Forum. How on earth did the founder manage to get such high-profile backers?"
"Former heavyweights in the diplomatic, intelligence and military government sectors (George Shultz, Senator Samuel Nunn, Henry Kissinger etc). No big names from the technology or VC space are mentioned however."
"Am I the only one here who thinks all those people imaged on the web site have really weird eyes? Creepy. ... no, you're not. That site looks like an advert for Elysium"
"Wow. She must be a pretty amazing woman to have collected such strong allies. I'd have lunch with her."
https://news.ycombinator.com/item?id=6349349