![]() ![]() At the Wall Street Journal, Pulitzer Prize-winning reporter John Carreyrou, who has written a book about the Theranos saga, got a call. John Carreyrou has written a book about the Theranos storyīy February 2015 the Theranos fairytale was about to unravel publicly. Tyler Shultz quit in April 2014 and soon after Erika Cheung did too. Tyler Shultz: That I was arrogant, ignorant, patronizing, reckless - and I was lacking the basic understanding of math, science, and statistics that if I had any other last name, that I would have already been held accountable to the strongest extent. Tyler Shultz was ready to resign but first, he sent Elizabeth Holmes an email about his concerns. This is not how it's supposed to be done." And I just want to know if this is okay." And they responded and said, "No, this is cheating. Tyler Shultz: I just said, "This happened in my laboratory. In his email to New York State Department of Health regulators, Shultz outlined questionable lab practices and said he believed test results were being switched. I knew they would not take it well if they knew that I was talking to regulators. Tyler Shultz: I knew how seriously Theranos protected their trade secrets. Norah O'Donnell: Why did you come up with an alias? That's why, when Tyler Shultz alerted authorities in the spring of 2014, he used a fake name. Theranos employees told us they were closely watched and required to sign non-disclosure agreements, all reinforced, they said, by a threatening team of lawyers and private investigators. ![]() ![]() She bragged bullet-proof windows were installed in her office and she traveled with a full-time security detail. Those claims were fabricated.Īs her wealth and reputation soared Elizabeth Holmes took on the trappings of power. The pair claimed in investor documents obtained by 60 Minutes that Theranos technology was validated by the FDA, pharmaceutical companies, and was deployed on the battlefield by the U.S. Theranos raised nearly $900 million from those investors who now say they were swindled by Elizabeth Holmes and company president Ramesh "Sunny" Balwani. It was a bait and switch for investors that kept the money rolling in. Doug Matje, whose job was to adapt blood tests for the Edison ![]() Norah O'Donnell: Who was doing the testing?ĭoug Matje: It was scientists at the bench.ĭoug Matje: By hand, yeah. Norah O'Donnell: So was the Edison doing the testing? Then the- they'd be led out of the room, they'd go have a meeting, go have lunch, whatever, and at which point an engineer would run in the room, grab the cartridge, bring it out into the lab. "We didn't let know, 'Hey, we reran your patient sample and we're not actually positive about what the diagnosis is.'"Įlizabeth Holmes claimed the Edison performed all the tests big lab machines could - from cholesterol to cancer - all from a painless finger-prick.ĭoug Matje: They would get their finger pricked with a small amount of blood. The deal would put an Edison machine in every store. It was a pivotal moment, as the company announced a partnership with Walgreens. Tyler Shultz began working at Theranos in September 2013. Norah O'Donnell: When you met her, and you heard about Elizabeth Holmes' vision, what did you think? Dazzled, Tyler Shultz became a believer and joined the company soon after getting his degree in biology from Stanford University. He introduced his grandson Tyler to Holmes. Shultz, the former secretary of state who helped end the Cold War. The board was filled with friends of George P. Holmes' biotech startup was backed by an illustrious board packed with national security heavyweights like Henry Kissinger and James Mattis, the current defense secretary. Was the media duped by Elizabeth Holmes? 07:14 ![]()
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