Theranos whistleblower testifies blood-test machines were about as accurate as a coin toss

Theranos founder Elizabeth Holmes arrives at Robert F. Peckham U.S. Courthouse for opening arguments in her trial, in San Jose, California, September 8, 2021. Peter DaSilva | Reuters SAN JOSE, CALIF. – Elizabeth Holmes was the founder and face of Theranos, but when it came to the company’s laboratory, she relied on her highly qualified … Read more

Former employee testifies Elizabeth Holmes’ Theranos lost millions while exaggerating projections to investors

SAN JOSE, Calif. — In public, Elizabeth Holmes was dubbed the next Steve Jobs on the cover of Inc. magazine in 2015, but in private the blood-testing company she founded, Theranos, was hemorrhaging hundreds of millions of dollars. On Tuesday, the government’s first witness at Holmes’ fraud trial, longtime Theranos financial controller San Ho Spivey, who … Read more

Bill Gates is among the many cheerleaders of stealthy battery company Form Energy, but it has a lot to prove

An artist rendering of Form Energy’s battery system. Rendering courtesy Form Energy In order to be at net-zero by mid-century, meaning that the globe is absorbing as much greenhouse gases as are still being emitted, solar and wind capacity will need to quadruple and investments in renewable energy will need to triple by 2030, according … Read more

Southeast Asia’s tech start-ups could be valued at $1 trillion by 2025, venture capital firm predicts

Drivers for GrabFood line up to collect orders at a Pisang Goreng Bu Nanik store in Jakarta, Indonesia. Dimas Ardian | Bloomberg | Getty Images SINGAPORE — Southeast Asia’s technology start-ups had a combined valuation of $340 billion last year and that figure may jump more than threefold by 2025, according to Jungle Ventures. Over … Read more

Billionaire investor Chamath Palihapitiya backs UK insurance start-up as it pivots from drones to cars

Venture capitalist Chamath Palihapitiya. Mark Kauzlarich/Bloomberg via Getty Images LONDON — On June 3, one of London’s hottest days of the year so far, Chamath Palihapitiya, an early Facebook executive turned tech investor, had lunch on the rooftop of The Ned hotel with the co-founders of insurance start-up Flock: Ed Klinger and Antton Pena. The … Read more

SPACs are targeting Southeast Asia’s start-ups, and investors are taking note

Gojek drivers wearing protective masks wait for a customer along a road in Jakarta, Indonesia on Wednesday, April 22, 2020. Dimas Ardian | Bloomberg | Getty Images SINGAPORE — Southeast Asia’s late-stage start-ups are attracting growing interest from blank-check companies that want to take them public, a venture investor told CNBC. More than 40 SPACs … Read more

Instacart poaches one of the highest-ranking female Facebook executives, Fidji Simo, for CEO

Fidji Simo, Director of Product at Facebook, speaks onstage during the Facebook portion of the Summer 2018 TCA Press Tour at The Beverly Hilton Hotelon July 25, 2018 in Beverly Hills, California. Frederick M. Brown | Getty Images Entertainment | Getty Images Grocery delivery app Instacart announced it has hired the head of Facebook’s app, … Read more

Doximity CEO ignored Silicon Valley wisdom and built a $10 billion health-tech company

Jeff Tangney, CEO, of Doximity at the New York Stock Exchange for their IPO, June 24, 2021. Source: NYSE Jeff Tangney launched his first health-tech start-up, Epocrates, in the middle of the dot-com bubble. While the company survived the crash and eventually went public, the endgame was a disappointing acquisition for less than $300 million. … Read more

Four Silicon Valley VC firms notched billion-dollar IPO wins on Thursday

Jeff Tangney, CEO, of Doximity at the New York Stock Exchange for their IPO, June 24, 2021. Source: NYSE Every year, tech investment firm Index Ventures sends out a survey to the 400 or so companies in its portfolio to see what technologies are gaining the most traction. About six years ago, an open source … Read more

This little-known payments start-up is now Europe’s third-biggest fintech

Dutch fintech start-up Mollie’s payments platform in action. Mollie LONDON — Mollie was a relatively little-known company before Covid-19. Now, it’s one of Europe’s biggest fintechs. The Amsterdam-based online payments processor finally became a “unicorn” valued at more than $1 billion in September, more than a decade after it was founded by Dutch entrepreneur Adriaan … Read more