Review on the Glassdoor website (a website where employees can leave information about aĬompany they work or worked in, such as CEO approval ratings, company reviews, Is Cloudwick Technologies Inc., based in Newark, California, paying their H1-BĮmployees a much lower salary than what was agreed upon, and making illegal deductions Abuse of H1-B visa workers is not unheard Who have much more to lose, considering how their ability to stay in theĬountry is tied to their employment. ![]() This may be especially true of employees with H1-B or other work visas She was surrounded by yes-men because she did not foster anĮnvironment that welcomed ideas, suggestions, and opinions opposite her own.Įmployees did not come forward with concerns because they did not want to getįired. Only a bad listener she seemed to consider anyone who challenged her asĭisloyal. The yes-men were not the only ones contributing to this culture. You do not improveīecause you do not know where improvements are needed. Returning expected and reliable results, and experiments that are not actuallyįeasible can be done – hence wasting both time and money. Things right, that the technology is working perfectly, experiments are Of being surrounded by yes-men – a false sense of security that you are doing Without it, as a leader, you risk facing the dangers Shows how there is a need for open, honest communication and understandingīetween the employees directly involved in developing the product and Information and facilitating communication to ensure highest productivity.īesides the need for effective communication between employees, the book also ![]() It is therefore important to find a balance between protecting proprietary This lack of communication and the unusually high level of secrecy was What exactly is holding up progress and work together to solve the problem. The book also highlights the needįor communication within and between different departments in a company, soĮmployees are aware of what stage of development the product is in, identify We already know and are trained to practice. Testing and quality-control checks, and the need for adhering to regulations – things The importance of validated and peer-reviewed data, the need for rigorous It is shocking that a company could get so far with technology that never performed as promised, and Carreyrou lays out the various scenarios and circumstances that contributed to it. However, fraud and irresponsibility by a health technology company like Theranos, and at such a massive scale at that, is even more dangerous considering the direct harm to patients’ lives. It is common knowledge that most, if not all, companies in Silicon Valley have skeletons in their closets that make headlines when they are revealed. Expanding the article into a book, Carreyrou walks us through how the company was formed, how it grew to become one worth over $9 billion, and finally, how it dissolved in September 2018. In October 2015, a reporter from the Wall Street Journal, John Carreyrou, published an article revealing that the company has been misleading investors and consumers, that the blood tests analyzed by Theranos devices were inaccurate and unreliable, and that a lot of the tests were actually performed by third-party commercial analyzers. ![]() ![]() In January 2003, a 19-year-old Elizabeth Holmes founded Theranos with the vision of enabling multiple diagnostics tests to be run from a small volume of blood obtained from a finger-prick rather than the traditional venous blood draw, using the company’s small, portable, automated devices. For instance, the book portrays the harsh reality of working in industry when a team of engineers were laid off because the research was headed in a new direction and they were not needed there anymore. I think students interested in careers in industry, entrepreneurship, venture capital, or science policy will gain some perspectives from reading this book. While there are plenty of resources out there that help you understand how to search for a job, determine if it is a good fit and notice red flags, this book paints a picture of life in the biotech industry, both as an entrepreneur and as an employee. I was especially interested in it given its relevance to the biotech industry and on recently finishing the book, I realized GSBS students might also find it interesting and thought of sharing a little bit about it. One of the books that was recommended by a friend was “ Bad Blood – Secrets and Lies of a Silicon Valley Startup” by John Carreyrou, based on the rise and fall of the blood-testing company, Theranos. I began to read more than usual because of social distancing, going through the list of books I had been planning to read for a while.
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