Theranos –  miracle blood test

2013 – 2015

Theranos promised to make blood-testing easier, cheaper and less painful. Only a tiny drop of blood was needed to run dozens of tests with the small Nanotainer collection tube. The innovation claimed to empower consumers by giving them the ability to bypass the gatekeepers – their doctors – to get important information about their health. The founder, Elizabeth Holmes became the youngest self-made female billionaire in the world.

In 2015, an article in The Wall Street Journal exposed everything as a scam. The micro-sample blood tests were inaccurate and unreliable. This was embarrassing for many investors and partners. Walgreens-Boots had partnered with Theranos to provide the revolutionary finger-prick blood test services, without ever bothering to verify the technology. Disgruntled investors and partners quickly abandoned the company.

This is an example of how easily we are blinded by shiny new technology and charismatic leaders who tell a good story. Theranos’ journey serves as a lesson for the reporters, investors, and partners who enthusiastically showered praise on the company without a tiny drop of scrutiny. 

Additional info:
Newscientist – The hypnotic tale of the rise and fall of Theranos.
Wikipedia

Trailer for the film – The Inventor: