Is Theranos cash flow positive? Or do they still rely on investments? Who would invest now.
* in the sense that she controls 50% + 1 of the votes
Well there's the issue, a lot of these companies distort their ownership structures with multiple classes of shares in order to get around the usual 1 share, 1 vote scheme.
So does the moral principle of ownership resulting in control still apply when they may technically "own" very little?
Not really. Even if she owns it she has a fiduciary responsibility to her other shareholders as an officer of the company.
Unfortunately it is quite possible that Holmes staying put IS in the best interest of all other shareholders given how little else Theranos seems to have going for it...