Friday, January 29, 2016
Since PR is what you do and not what you say, this counts for terrible PR. Not only is Theranos losing its biggest customer, it has been sanctioned by the FDA for dangerous laboratory practices in its California facility. Not long ago, Theranos and its CEO were darlings of the media with a story of entrepreneurial pluck and luck. Then, the Wall Street Journal revealed that its basic technology, which uses only a drop of blood, was flawed and gave misreadings. That started a cascade of negative stories and investigations that have resulted in the FDA action and Walgreen's departure. There is only one solution to the bad news. Fix the problems fast, whether or not one uses the micro technology, and report accurate results. Either that, or watch the company disappear in a short time.