If anyone recalls Theranos, the one-time unicorn and darling of Wall Street -once estimated to be worth $9 Billion - that suffered one of THE greatest falls from glory after Founder/CEO Elizabeth Holmes admitted that the technology behind her 'revolutionary' blood testing company was essentially a fraud- in the process rendering her 50% stake worth "next to nothing"- all in a matter of months.
Well, just this past week Fortress Capital, a $36 Billion conglomerate handed the ailing company a $100 Million lifeline!
First World Countries still maintain the unequal, inequitable, and non-inclusive nature of startup cultures especially here in the U.S. at the initial seed and VC rounds. This is a perfect example. Not only did she lie, she fabricated financial reports and lost a ton of credibility and money in the process.
So HOW does she get MORE $$$$ to invest??
I wonder if the funding would have been available as it was if Theranos was an immigrant founded company with a Muslim or Black founder at the helm..
THOUGHTS??