I am not surprised. Theranos exists as a cult of personality around Holmes and without her, it would be obvious that they provide no value over their larger, more efficient competitors.
So, I guess the plan now must be to shut down all non-R&D parts of the company, and try to maintain/sell the R&D division and its IP. I can only imagine the level of due diligence any potential buyer will apply.
> Still, last week’s news raises the question of what will happen to the company’s other clinical laboratory in Scottsdale, Arizona, at which 90 percent of the company’s tests are processed. So far, that lab has passed regulatory muster, and the company said it will remain open for now.<p>I find it interesting that their Arizona lab passed...would this imply they do indeed have a legitimate product?
A pretty good example for why this founder as perment dictator corporate structure is really short sided. Nobody can fire Holmes since she controls the company herself.<p>Is Theranos cash flow positive? Or do they still rely on investments? Who would invest now.
Silly commoners, laws are for poor people!<p>Amazing, simply amazing. She's led a company that has either committed such gross negligence as to not be trustworthy to operate a lemonade stand let alone a medical company OR been openly defrauding both consumers and the Government but remains near as makes no difference completely unaffected and will walk away not only a millionaire, but apparently still employed.<p>I hope one day I reach that magical level of employment where no matter how bad you fuck up, you still win.
"And the company also faces criminal probes from the Department of Justice and the Securities and Exchange Commission over whether it misled investors and regulators [..]"