Theranos CEO Elizabeth Holmes’s Desperate Letter to Shareholders

Theranos founder and CEO Elizabeth Holmes, accused of outright fraud by the SEC, in a letter to shareholders regarding the company’s impending default on a $100 million loan:

The most viable option that we have identified to forestall a near-term sale or a potential default under our credit agreement is further investment by one or more of you. In light of where we are, this is no easy ask. However, given your support of the company over the years, we wanted to provide this opportunity before we proceed too far down the current path.

Good luck with that. (And I thought Mark Zuckerberg was having a rough week.)

Wednesday, 11 April 2018