Well researched work a lesson in greed and power
Bad Blood
By John Carreyrou, Trade Paperback, $37.99
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February 2015 John Carreyrou, a prize winning journalist, writing for the Wall Street Journal, was casting about for a newsworthy story to get his teeth into when he was contacted by an acquaintance in the medical field. He asked if Carreyrou had read a recent feature in the New Yorker about a Silicon Valley prodigy named Elizabeth Holmes and her company Theranos. Carreyrou had read the article and had found some pieces in it suspect. Carreyrou had previously covered topics such as the pharmaceutical industry and the US healthcare system. Placed in his lap was another medical issue that did not ring true.
Elizabeth Holmes, a former brilliant Stanford University student, dropped out of university intent on becoming an entrepreneur. Her start up ‘unicorn’ promised to revolutionise the medical industry with a blood testing machine that would make blood tests significantly faster and easier. By 2015 she was seen as the female Steve Jobs. She had her blood testing machines in ready access in many of the Safeways shops. Safeways is one of the largest grocery store chains in the US. Her estimated worth was put at $4.7 billion. She moved in high places, a friend of the Clintons and had had her work recognised by Obama. Henry Kissinger and George Schultz both sat on her board of directors. Her company now employed up to 800 employees.
There was only one snag . . . the machines did not work.
Employees who voiced doubts were threatened with law suits if any of them breached their confidential contracts. Bullying both by Elizabeth and by Bulwani, Elizabeth’s right hand and live-in lover, were rife.
Bad Blood is a well researched document beginning with Elizabeth Holmes’ early life, tracing her time through her golden years and concluding with the fact that her employees now number 80, the billion dollar empire has gone paying out law suits and the distinct possibility that both Holmes and Bulwani will be facing criminal charges of lying to investors and federal agents. Carreyrou acknowledges in his epilogue the real heroes in his investigation, the employees who were prepared to stand up to the threats of lawsuits from top legal firms and still prepared to speak out because of their concerns of the damaging effects on people’s health.
Years ago I read John Le Carre’s The Constant Gardener and it had all seemed so real and probable that I was relieved to find in his acknowledgement that it was a complete work of fiction. Sadly this is no fiction. Many people were given completely wrong diagnoses. It is a sad reminder of how a person’s greed and desire for power overcomes any scruples. Bad Blood is now being made into a movie. Since writing this review I have read that both Holmes and Bulwani have now been indicted on criminal charges and there is a distinct possibility of jail terms for both. —