By now, many of us are familiar with the story of Elizabeth Holmes and her late biotech startup, Theranos. And while it’s easy to write the whole story off as the work of a troubled person, the truth is: Theranos, at its inception, had a groundbreaking idea, one that many well-respected people invested millions into.
Theranos’s blood-testing method — which promised to detect a range of illnesses with just a prick — was designed to be as small, compact, and lightning-fast as possible because, the story went, Holmes and her mother were both terrified by needles. The technology — if it had been realized — would have revolutionized the healthcare industry. So it's no surprise that this idea seduced many high-profile investors.