![]() The problem was that Theranos’ proprietary blood-testing technology was completely fictitious. Theranos had apparently accomplished what many hematologists had long thought was nigh-impossible: the company claimed to have developed a proprietary technology that allowed clinicians to test patients’ blood using a fraction of the blood volume required in typical hematological tests - between a hundredth to a thousandth less blood, if the company’s claims were to be believed. Select Investors: Blue Cross Blue Shield Venture Partners, Fortress Investment Groupįailed blood-testing startup Theranos was one of the biggest startup frauds ever perpetuated. Theranos and the revolutionary blood tests that never existed Pseudo: Entrepreneurship as performance artġ.Crescent Ridge Capital Partners’ elaborate Ponzi scheme.Asenqua Ventures, the shell game disguised as a VC firm.WrkRiot’s short-lived house of cards falls down.Rothenberg Ventures breaches ‘fiduciary duty’.Virgin Hyperloop One’s utopian vision derailed by fraud.Hampton Creek busted buying its own merchandise.LendingClub founder violates own company’s business practices.The Honest Company not so honest about labeling.Theranos and the revolutionary blood tests that never existed. ![]() ![]() And others disappear forever.īelow, we take a look at the stories behind 16 embattled startups, and the lessons they can teach entrepreneurs hoping to launch their own products, companies, and funds. Others are forced to rebrand in an attempt to distance themselves from the notoriety of their founders. When that’s happened, some companies survive. Some companies just push their luck a little too far. There’s almost always an element of “fake it ’till you make it” for a successful, disruptive startup. Download the full 32-page report.įrom Theranos, the blood testing startup that never had even a glimmer of a truly working product (but still raised more than $700M) to Hampton Creek, the vegan mayo brand that was caught buying its own merchandise in bulk to inflate its sales numbers, the freedom and innovative energy of the Valley has, at times, been used to fuel a variety of possible startup scams and frauds. We analyzed 110+ startup failures to bring you the reasons why startups don’t make it. ![]() Want to know THE TOP 12 REASONS STARTUPS FAIL? ![]()
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