Monday, November 28, 2016

Whoa! Rupert Murdoch and Family Got Taken for $200 Million in the Theranos Scam

The Wall Street Journal reports:
Theranos Inc. received much of its funding from high-profile private investors who weren’t part of the ecosystem that typically backs startups and could see their stakes wiped out by the blood-testing company’s regulatory and technological troubles, people familiar with the matter said.

Several large investments from families and individuals helped infuse Theranos with $632 million in its latest funding round, which stretched from 2014 to 2015, according to the people familiar with the matter and documents filed by Theranos in Arizona and Delaware.

Those investors include Rupert Murdoch and family-controlled Cox Enterprises Inc., which put about $100 million each into Theranos, people familiar with the matter said...
On Monday, Robertson Stephens & Co. co-founder Robert Colman accused Theranos in a lawsuit of making false and misleading claims about its operations and technology while soliciting money from investors.
According to the Journal, Murdoch  and family made their investments sometime between 2014 and 2015,

I was suspicious about the company from the first time I learned about it in 2014 and my suspicions just continued to grow.

 -RW

Also see:The Very Creepy, Kissinger Connected, Theranos

4 comments:

  1. How is that Elizabeth Holmes not in Jail?

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  2. Hard to be sympathetic towards sharks, when they're bitten by other sharks.

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  3. Hot chicks don't go to jail, silly.

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    1. From Wikipedia:
      "Elizabeth Anne Holmes is the founder and CEO of Theranos. In 2015, Forbes recognized Holmes as the youngest self-made female billionaire in the world due to a $9 billion valuation of Theranos. She had been considered "the next Steve Jobs" and named one of TIME's "100 Most Influential People" of 2015...
      However, in 2016, after a series of journalistic and regulatory investigations... Forbes re-evaluated her net worth to "nothing".

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