[mchannon]

Just wow.

I think it's an uncomfortable truth that there was some good in Theranos in terms of the unfulfilled needs of society and the potential of diligent work toward realizing those needs with technology.

I don't know how often it's been said by others, but I often think that Theranos would have had an easier time if they hadn't falsified anything. Faking things takes effort too, and aiming a little lower and being less secretive would have been a better outcome. Maybe a different tack is possible through this reboot.

Mr. Evans' silver spoon is worth $10M, so raising $20M against that in such a fraught area is eye-opening. Whether he sees this as part of Elizabeth's redemption arc or just can't quit the hair of the dog that bit him, I guess we'll see.

Elizabeth Holmes' crime wasn't defrauding people, it was defrauding people richer than her. Change my mind.

Most VC's are taking it in the shorts right now anyway, because they're addicted to free money and there's no more free money, and most of them quite frankly suck at spotting good deals. So for the intrepid souls who cast their lot in with Mr. Evans, maybe only Nixon could go to China, and maybe they'll fare better than the stodgy fat-dumb-and-happy B-tier VC's who are not long for this brave new world anyway.

[hilux]

If Theranos hadn't falsified anything, would they have had a product? My recollection, having read _Bad Blood_, is that they would not.

Good intentions to save the world, without any working (or even possible!) technology, are not investment-worthy.

[mchannon]

Having read the same book (while on the fourth floor of MDC Brooklyn of all places) I believe the conclusion I read was that they were trying to make it all work with one drop, which was impossible, because of the number of tests they were promising and the low solute concentrations some of those tests had to work with.

But there's a wide gulf between a drop and a 20mL vial. Requiring three drops and claiming half the battery of tests would still be a substantial improvement. That's what they should've done. And I think this new startup can do that.

I interviewed with Theranos toward the very end. I have never been in a place with a bigger show of security, and I've previously worked for years in nuclear weapons laboratories. If this new startup ditches the demonic-possession voice and the arch-military security schtick, and the Wizard of Oz curtain, I might not consider an investment in them as foolhardy as one in Theranos.