
Theranos Stops Drawing Blood from Patients at Capital BlueCross Store - apsec112
http://www.wsj.com/articles/theranos-stops-drawing-blood-from-patients-at-capital-bluecross-pennsylvania-store-1454093470
======
startupfounder
Healthcare startups are like Cleantech startups were.

There is large amounts of capital being deployed, there are going to be high
profile failures like Theranos, but at the end of the day the world will be
better because of the few that succeeded beyond our wildest imaginations.

This is how innovation works.

~~~
smt88
This wouldn't be that big of a story if Theranos just failed. The story here
is that they lied repeatedly to the press and possibly to investors.

Elizabeth Holmes' ability to raise money also seemed to be based entirely on
nepotism, rather than the meritocracy that people want to believe SV has
accomplished.

~~~
kami8845
>Elizabeth Holmes' ability to raise money also seemed to be based entirely on
nepotism.

Right, she should've rejected that money, it would only be fair if it was as
hard for her as it is for us.

Why is it important that she has connections? Does being upset about that help
you in any way?

Sorry, I'm really jaded about this kind of victim mentality. Ignore what
advantages others have and build your tower as high as you can.

~~~
mikeash
It's important because it means that capital is not being allocated optimally.

From an individual point of view, sure, you really can't control stuff like
that, and you're better off concentrating on making your own stuff better.

But that's not the conversation here. This discussion is about the whole
system, and particularly the statement that "this is how innovation works."

~~~
kami8845
Who would you personally feel more comfortable lending money to, a complete
stranger (who might very well need it more -- aka optimal distribution of
resources) or someone within your family or close circle of friends, where you
have some level of confidence that they will simply run off with your money or
squander it?

~~~
mikeash
Virtually everyone finds the stranger more comfortable. They may not say so,
but a quick look at their finances will reveal most of their assets in bank
accounts, stocks, bonds, etc., and almost none in the form of loans to family
members.

~~~
kami8845
Quite a perverse strawman from someone who just a second ago asserted what
"this discussion is about".

~~~
mikeash
Uh, you're the one who asked who I'd be more comfortable lending money to. If
it's not relevant then why did you bring it up?

------
lindig
Interesting comment by a reader of the WSJ article: a former director of
Theranos works for a company that manages investments for Capital BlueCross.
He could have been instrumental when the initial cooperation formed. Of
course, this is just a speculation.

------
hakcermani
What! they can now do it without even a blood draw ? :=D

------
sbardle
A good time to be a lawyer in the Valley...

