Question
Elizabeth Holmes' management style was heavily influenced by Steve Jobs, which contributed to both the rise and fall of Theranos. Her charismatic leadership and bold vision attracted significant investment and interest in the company. However, her management style also included a lack of transparency and accountability, which eventually led to the company's downfall. She was known to suppress dissent and was accused of making false claims about the company's technology. This lack of ethical leadership and governance ultimately led to the company's demise.
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At the age of ten, Elizabeth Holmes was determined to become a billionaire entrepreneur, an ambition her parents strongly encouraged. To achieve this, she dreamt of designing technology that changed the lives of people. Elizabeth dropped out of Stanford to start Theranos. The vision was to build a portable device that would painlessly perform hundreds of tests on a few drops of blood. Steve Jobs was a huge inspiration for Elizabeth who called Theranos "the iPod of healthcare." She began to imitate Jobs in her management style and even in wearing black turtlenecks every day to work. "Like her idol Steve Jobs, she emitted a reality distortion field that forced people to momentarily suspend disbelief." Avie Tevanian, a board member, grew suspicious about Theranos. Revenue projections never materialized, documents for deals with pharma giants were not shown and there were consistent product delays. When Avie raised this with the board, Theranos threatened him with lawsuits and forced him t...
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