Bad Blood
John Carreyrou


Jack Shields

Chapter 15

The Journal started writing about the Elizabeth Holmes and her plan to open the first Theranos wellness center in one of the Walgreens store. With the help of the partnership with the pharmaceutical company and also with the article published in the Journal she was planning on putting on a new fund raising campaign.

Soon the Partner Fund owned by Christopher James and Brian Grossman became interested in buying Theranos shares after the Lucas Venture Group previously did the same. Elizabeth and Sunny claimed that their device was able to run simultaneously several tests with a small amount which amazed everyone because this process was seen as the Holy Grail in terms of microfluidics. Sunny also provided the owners with financial projections showing a huge profit. Neither of them was aware by the fact that all of these were fabricated and the real value was around 12 times lower than the ones provided by Sunny.


At this point, the entire Theranos scam starts unravelling due to the Journal’s findings and publications on the company’s unethical behavior. As a result of this publication, more people became interested in investing in her business because they though her company was certified and trustworthy. People also start talking more and more about it and Silicon Valley soon became a center of interest for all the investors. Still, no one suspected that all the financial reports presented contained intentionally falsified values, proving that Sunny and Elizabeth developed a particular way of sharing the information and method of introducing bias into results that would make people interested in joining the team or investing.

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