The founder - Elizabeth Holmes - has stepped out of the spotlight. She has been indicted by the feds for alleged fraud.
The latest development, reports MarketWatch, is that Theranos' major creditor Fortress Investment Group has taken over ownership of the startup's patents. However, it has not dipped into the $5 million that is still available as cash. That will be distributed to unsecured creditors.
Given how many sophisticated and brandname players were hoodwinked by Theranos, the rise and fall of the startup and its founder have become symbols of tech delusional hysteria.
In his book "Bad Blood," The Wall Street Journal reporter John Carreyrou put forth many theories of why there was such buy-in of a technology which didn't yet exist. And may never.
It was Carreyrou who broke the story that Theranos might be a sham. After that, the world began to turn on WonderGirl.
For hours with the editors at that media outlet, Boies huffed and puffed, catching it all on his trusty taping device. But he couldn't blow the story away.
In another kind of book "Disrupted," former Newsweek reporter Dan Lyons discusses a similar kind of wild magical thinking at a startup. Those who questioned were labeled heretics.
Who might have smelled something fishy about the Holmes' show?
Answer: Fallen-away Roman Catholics.
At home, in mandatory church services, and in the special schools the church established we were hammered with a package of hardened must-believes. Those who didn't were declared heretics. They were excommunicated. My immigrant family didn't want that happening to them.
At age 23, after eight years of Catholic grade school and four of Catholic college (Seton Hill, Greensburg, Pennsylvania), I finally began to connect the dots in my own way. From then on I have made it my mission to turn over any entity and take a hard look at its underbelly.
Usually, that isn't pretty. After all, as William Shakespeare noted, mankind is cankered in the grain and all our institutions are man-made.
BTW, the supposed Machiavellian - Henry Kissinger - had been on the Theranos board of directors.
Tech is just one of many forms of voodoo. The American ethos of extreme success is another. A third is glorification of youth.
Attention is the currency of the 21st century. Jane Genova helps you get it for products, services, points of view, causes, branding, careers after-50, and college admission.
In addition, this blog welcomes paid sponsored content.
Free consultation firstname.lastname@example.org