$120 million in Facebook Shares,” Reuters, June 28, 2010.
Six months later: Susanne Craig and Andrew Ross Sorkin, “Goldman Offering Clients a Chance to Invest in Facebook,” New York Times, January 2, 2011.
The emergence of Michael Arrington, “Twitter Closing New Venture Round at $1 Billion Valuation,” TechCrunch website, September 16, 2009.
In the spring of 2010: Christine Lagorio-Chafkin, “How Uber Is Going to Hire 1,000 People This Year,” Inc., January 15, 2014.
Dr. J operated out of an office: LinkedIn profile of Jay Rosan; Jessica Wohl, “Walgreen to Buy Clinic Operator Take Care Health,” Reuters, May 16, 2007.
In January 2010, Theranos had approached Walgreens: Walgreen Co. v. Theranos, Inc., No. 1:16-cv-01040-SLR, U.S. District Court in Wilmington, complaint filed on November 8, 2016, 4–5.
Two months later, Elizabeth and Sunny: Ibid., 5–6.
On the Walgreens side: Minutes of August 24, 2010, meeting between Walgreens and Theranos.
“I’m so excited that we’re doing this!”: Ibid.
It would involve: Schedule F of Theranos Master Purchase Agreement dated July 30, 2010, filed as Exhibit C in Walgreen Co. v. Theranos, Inc. complaint.
A preliminary contract: Schedule B, F, and H1 of July 2010 Theranos Master Purchase Agreement.
Theranos had told Walgreens: Document with a Theranos logo titled “Theranos Base Assay Library.”
When the Walgreens side had broached: Confidential memo titled “WAG / Theranos site visit thoughts and Recommendations” addressed by Kevin Hunter to Walgreens executives on August 26, 2010.
Standing in front of a slide: PowerPoint titled “Project Beta—Disrupting the Lab Industry—Kickoff Review” dated September 28, 2010.
In a report he’d put together: Hunter’s August 26, 2010, memo to Walgreens executives.
Hunter asked about the blood-test results: Minutes of video conference between Theranos and Walgreens held between 1:00 p.m. and 2:00 p.m. CDT on October 6, 2010.
Elizabeth and Sunny had a testy exchange: Minutes of video conference between Theranos and Walgreens held between 1:00 p.m. and 2:00 p.m. CDT on November 10, 2010.
The contract the companies had signed: Schedule B of July 2010 Theranos Master Purchase Agreement.
Documents it gave Walgreens stated: “Project Beta—Disrupting the Lab Industry—Kickoff Review,” 5.
It was a letter dated April 27, 2010: Letter marked confidential on Johns Hopkins Medicine letterhead titled “Summary of Hopkins/Walgreens/Theranos” meeting.
He’d gotten hooked on the subject: Richard S. Dunham and Keith Epstein, “One CEO’s Health-Care Crusade,” Bloomberg Businessweek, July 3, 2007.
He’d pioneered innovative wellness: Jaime Fuller, “Barack Obama and Safeway: A Love Story,” Washington Post, February 18, 2014.
Like Dr. J, he was serious: Dunham and Epstein, “One CEO’s Health-Care Crusade.”
However, many of his colleagues: Melissa Harris and Brian Cox, “2nd DUI Arrest for Walgreen Co. CFO Wade Miquelon,” Chicago Tribune, October 18, 2010.
8. THE MINILAB
The first commercial spectrophotometer: Jerry Gallwas, “Arnold Orville Beckman (1900–2004),” Analytical Chemistry, August 1, 2004, 264A–65A.
Cytometry, a way of counting blood cells: M. L. Verso, “The Evolution of Blood-Counting Techniques,” Medical History 8, no. 2 (April 1964): 149–58.
One of them, a device: Abaxis brochure for the “Piccolo Xpress chemistry analyzer” available on the Abaxis website.
9. THE WELLNESS PLAY
The supermarket chain had just announced: Safeway, “Safeway Inc. Announces Fourth Quarter 2011 Results,” press release, February 23, 2012.
One of them, Ed Kelly: Conference call on Safeway’s fourth-quarter 2011 earnings held at 11:00 a.m. EST on February 23, 2012, available on Earningscast.
Piqued, Burd said he disagreed: Ibid.
A few months earlier: CMS Form 2567 indicating an inspection of Theranos’s laboratory at 3200 Hillview Avenue in Palo Alto was completed on January 9, 2012, with no deficiencies found.
Although the ultimate enforcer: California Bureau of State Audits, “Department of Public Health: Laboratory Field Services’ Lack of Clinical Laboratory Oversight Places the Public at Risk,” September 2008.
To Dupuy, Lim’s blunders were inexcusable: Letter dated June 25, 2012, sent by attorney Jacob Sider to Elizabeth Holmes on behalf of Diana Dupuy.
The phlebotomists hadn’t been trained to use: Ibid.
The email, on which she copied Elizabeth: Email with the subject line “Events” sent by Diana Dupuy to Sunny Balwani, copying Elizabeth Holmes, at 11:13 a.m. PST on May 27, 2012.
Sunny agreed to have someone: Email with the subject line “RE: Observations” sent by Sunny Balwani to Diana Dupuy, copying Elizabeth Holmes, at 2:16 p.m. PST on May 27, 2012.
Over the next several days: Emails with the subject lines “Important notice from Theranos” and “RE: Important notice from Theranos” sent by David Doyle to Diana Dupuy on May 29, May 30, and June 1, 2012.
Dupuy initially refused: Sider’s June 25, 2012, letter to Holmes.
Burd was asked about the status: Conference call on Safeway’s first-quarter 2012 earnings held at 11:00 a.m. EST on April 26, 2012, available on Earningscast.
In the next earnings call: