Finance Friday: $9 Billion Theranos Goes Buh-Bye

‘Edward Snowden warns CIA ‘never destroys something by mistake’’

by Heather Saul (The Guardian)

Edward Snowden has responded to reports the CIA inspector general’s office “mistakenly” destroyed its only copy of a comprehensive Senate ‘torture report’ with a stinging rebuttal: “When the CIA destroys something, it’s never a mistake.”

Read The Rest >

‘Elizabeth Holmes Admits Theranos’ “Technology” Is A Fraud: Restates, Voids Years Of Test Results’

by Zero Hedge

As a reminder, the basis for Theranos ludicrous $9 billion valuation which it appears was achieved without anyone doing any actual due diligence, were the “Edison” machines which were touted as revolutionary — not just by Holmes but by the fawning media and even the Clintons. Theranos has now told regulators that it threw out all Edison test results from 2014 and 2015, effectively confirming it has no proprietary technology, and also validating that its valuation should be zero.

Read The Rest >