Hacker News Reader

Comment by corvallis | Hacker News Reader

They pay rent on Page Mill Road and have multiple lawsuits pending, last I heard, so I'm wondering how far that cash would actually take them. Also, if Elizabeth Holmes insists on the same level of control without any biomedical credentials, how realistic is a reboot? I would very much like to know the reasoning that any funding providers would use to justify their support.

View on HN

They moved everyone to their Newark manufacturing office. (I was wondering why the lights were completely out at 7pm on a Wednesday this week).

I've also seen an ad for subleasing the space relatively recently (Nov or so) so perhaps they have not found sublettors yet.

I guess Fortress thinks they can get a return on the assets, whatever they are. Could be a power play too, if you look at Theranos board there are a surprising amount of political players which could be advantageous for the SoftBank-owned Fortress.

Edit: looks like most of the original board members are gone post-scandal. But for reference here’s who was on it previously http://fortune.com/2015/10/15/theranos-board-leadership/

Investment groups that buy troubled assets are beyond my scope of understanding, but is that what is happening here? It sounds like Theranos is purporting to have a functioning product/business plan in the near future.

I work in medicine so my colleagues and I have been following this farce for several years. When so many advancements and biomedical research can benefit from such funding, why throw money at this fraudulent company?

Edit: Many thanks to users hkmurakami and ukulele above for explanations/clarifications.

The suits will probably be settled in the single to double digit millions.

Reply on news.ycombinator.com