Bad Blood: Secrets and Lies in a Silicon Valley Startup by John Carreyrou
Brief Summary
Bad Blood: Secrets and Lies in a Silicon Valley Startup by John Carreyrou is the best nonfiction page turner I’ve read in a long time. The book is well-researched and choreographed, revealing an astonishing tale of deceit by an egomaniac founder, while members of the financial elite willfully wore blinders. Even more, it’s a tale of threatening and bullying tactics used to try to silence whistleblowers, with devastating financial and personal consequences to those daring to speak the truth.
Before the truth of Theranos unraveled, I remember hearing about Elizabeth Holmes’s vision for the transformation of healthcare by developing low-cost and ubiquitous blood testing. I hunted down articles to learn more about the purported technology, and ruminated on the person-centric transformation that this innovation heralded. I’m not a life science specialist, so I lacked insight to know whether there could be any sound biology behind these claims. Like many, I figured that there must be something to it if so much money was flowing into Theranos from such esteemed and experienced business and political leaders.
How did Theranos get so far?
And then my bubble burst when talking about the company with my husband, who had a Ph.D. in biology and worked in the biotech industry. Something isn’t right about that, he told me. Bart had not spent time studying the Theranos claims in detail but, having an insight into biological processes as well as the timing and regulations of the FDA, he sensed at a quick glance that there were smoke and mirrors around these claims. And, as my husband usually was about most things where he ventured to express an opinion, he was validated as we watched the Theranos bubble burst in the news. I still remain puzzled by this – if something could be so quickly detected as suspicious by someone with basic knowledge of biologics, how did Theranos get so far?
Bad Blood was a fascinating read as a reminder of how deep self-deception can run when people want something to be true. The lies and cover-up committed by Theranos leadership was shocking and more extreme than I could have imagined from reading press coverage. And I was even more astonished by how many men in power were willing to believe the outrageous claims by Elizabeth Holmes without any verification. Ms. Holmes met with pharmaceutical companies, and then referred to these as completed deals. She met with military leaders and then referred to her blood tests as active in the battlefield. Her claims were so far-reaching that it never occurred to any of them that she would make such an extreme statement if it weren’t true.
It is sometimes suggested that Ms. Holmes simply engaged in the hyperbole expected and widely practiced by the Silicon Valley elite. Maybe; maybe not. But Bad Blood reminds us once again of how different it is to work in healthcare. Biological processes cannot be bent to fit the will of a visionary entrepreneur, and the consequences of unverified products, especially in the life sciences, can cause harm in people’s’ lives.
Recommend? - Yes! Gripping read
This book was a thrill to read as someone who watched the Theranos story unfold in the news. I was fascinated and shocked to learn what was happening behind the scenes throughout. The book also reminds me of a world out of control, where the power of lies can snowball into mass movements involving billions of dollars and thousands of lives. Unfortunately, we still see this kind of deception active in the political sphere of our country. My lesson: take a step back and check facts
My Ratings
Engaging/Interesting - 5 stars - The first nonfiction book that I have binge-read (well, actually listened to). I couldn’t wait to hear what happened next.
Compelling Purpose - 4 stars - It’s hard to read Bad Blood and not leave the story with a sense of admiration for the strength and integrity of the whistleblowers, and shock at the egregious overreach of power.
Relevance to Healthcare - 3 stars - Bad Blood is less a book about healthcare, and more a parable about money, business, and ethics.
Overall Recommendation - 5 stars - I totally enjoyed reading this book. If it were fiction, you’d find it hard to believe. It’s astonishing.
Nancy Wise, Managing Partner, Spring Street Exchange
Nancy founded Spring Street Exchange because she wanted to be wholly free to work with like-minded individuals in striving to make healthcare how it should be, rather than the way it has always been. Her work in the industry has ranged from tiny, community-based nonprofit service organizations to billion-dollar insurers, and most things in between. She specializes in the intersection between big ideas and practical planning, which she believes can only be accomplished through radical collaboration and using a new set of tools. Her secret sauce is in leading strategic planning and visioning initiatives.
Nancy has a master’s degree in Public Health and an MBA from the University of California at Berkeley and a BA in American Civilization from Brown University. She is from both Pittsburgh and Alameda, CA, but now lives in Lexington, MA, where the shot was fired that was heard around the world.