Oct. 25, 2021 — Once valued at over $9 billion dollars, it seemed like Theranos was going to change the world of routine blood testing. Their claim was revolutionary: Using blood from a finger prick, they could run over 200 different tests. With a trip to a local pharmacy, someone could get testing done without getting blood drawn and receive the results in hours, rather than days. What’s more, Theranos said dozens of tests could be run on one drop of blood alone, and these tests would cost a fraction of traditional lab work.
But famously, Theranos’s house of cards came tumbling down. The microwave-sized machine that supposedly could run these tests, dubbed the “Edison,” simply did not work. What came as a shock for Silicon Valley and the investment world was no surprise to those in the blood testing industry.
“It was like saying you could build a flying