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Theranos did not have a product/market fit not because they didn't try but they didn't actually have a working product at all it seems from the article. It's interesting to see they've been kept afloat by big name investors all these years.

edit: why is this comment being downvoted? Theranos failed and now looks like investors are angry. Do you disagree?

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"not having product/market fit" is an interesting way of describing a company that is being actively investigated for fraud by the SEC.

not having product/market fit because you don't have a product but acted like you did needs to be audited.

Note that this is different from not having product/market because of lack of demand. which sums up SV startups.

It's one thing to rip people off, it's a whole another to build an entire company around a non existent product. The latter takes some Talented Mr. Ripley level of Machiavellianism ( or/and being born to a rich white connected sugar daddy).

I think ppl are downvoting you because referring to Theranos' situation using a product/market fit model presupposes you have a product for the market to accept or reject. The product that they promised to the market certainly had high demand/fit, that's why got so much investment. Theranos simply didn't have anything close to what they were promising, hence the fraud.

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