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6 Things That Could Have Saved Theranos Investors From a $1 Billion Wipeout ​

September 11, 2018

Via: Inc.

Theranos shut down a week ago — defaulting on a $65 million loan it received from Fortress Investment Group, according to the Wall Street Journal.

As an investor, I see Theranos as an exceptionally compelling story of how a con artist was able to talk many (mostly) wealthy old men out of $1 billion of their money while failing for 15 years to produce any real results.

Many rich people invested at least $100 million in Theranos. These now-poorer rich people include the Waltons, heirs to Walmart founder Sam Walton; Atlanta’s Cox family; the family of Secretary of Education Betsy DeVos; and Rupert Murdoch, executive chairman of 21st Century Fox and of News Corp. Their investments in Theranos are now worthless, according to the Journal.

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