The drama has some investors predicting more disasters. â€œWhat if Theranos is the canary in the coal mine?â€ says Roger McNamee, a 40-year VC veteran and managing director at Elevation Partners. â€œEveryone is looking at Theranos as an outlier. We may discover itâ€™s not an outlier at all.â€ That would be bad news, because without trust, the tech industryâ€™s intertwined ecosystem of money, products, and people canâ€™t function. Investors may find the full version of the old proverb is more accurate: â€œOne bad apple spoils the whole barrel.â€
Read All About It. Because the main story is that Theranos might just be the tip of the iceberg.
BTW - The ‘Theranos’ that Roger refers to … that’s the Theranos that laid off 155 of its remaining 375 staff yesterday - after laying 340 of 790 just three months ago.
However you look at it 220 people out of 790 just three months ago is a 72% staff reduction.