HEMORRAGING BAD BLOOD
Book: Bad Blood
Author: John Carreyrou
Leave it up to one bad seed to get an entire Valley dragged through the mud. John Carreyrou does a decent job at uncovering what really happened beyond the Silicon Valley biotech rumor mill. If you were there around 2008-2013, then you definitely know what I mean about “rumor mill”. While the rest of the world dove into the hype, it became clear to a lot of us that something was off. While Glamour was handing Elizabeth Holmes some Woman of the Year award, a lot of us were wondering when it would all go down. TheN a journalist started taking notes and wrote a book. Here, I go over a few basics that got her to that place and why she should never have been given millions.
The main question is why did people buy into Holmes? A lot of people, including Carreyrou, said a lot of the “older” males fell into her ‘blue eyes, blond hair’ trap. Maybe there is some truth to this, but it is not just looks or words that win over seasoned Silicon Valley titans.
Here are a few aspects from my perspective:
Holmes was a rich girl with rich contacts- Unlike fellow rich girl Paris Hilton, she was a girl connected to prominent government and technology leaders. They wanted in no matter what.
People saw the money and pedigree- After the first round of funding ($6 million) from an elite group of family and friends, it was easy for people to believe she had something solid and was legitimate.
Holmes was successful with two types of people: 1) Those who didn’t have the expertise in a certain part of the tech and 2) Those who kept their mouths shut and head down. Avie T. from tech giant Apple knew software and business, but not the engineering or biochemical details of a blood microfluidics system. Holmes was notorious for what notorious bosses do- keeping groups isolated so cross-talk does not spill secrets of a scam. If you’ve ever had a boss like this, then you know and, more so, that it does not work for long.
Bottom Line:
The only thing Holmes ever accomplished was producing more bad blood between Silicon Valley and the rest of the world. Bully tactics, especially against reputable people, should be a sign that something is off. Do not continue meekly pipetting if you’re in that environment- just quit. The book is an interesting read as are the initial press reports that blew up Theranos. It asserts how not to run a start-up or any company.