I have to wonder why the board of directors didn't, you know, direct. In an ideal world this would damage their reputation as directors with future companies. But not today.
It's almost as if they intentionally stacked it with senators, govenrnment, and military guys. This is not a typical board, especially for a medical company.
I read an incredibly thoughtful and insightful comment the other day arguing persuasively that the whole enterprise of Theranos was created with the singular mission of glomming onto government for fat contracts, and that's why the board looks the way it does. That they were riding the illusion of a working product hoping to become entrenched.
This is what happens when you recruit your board based on who they know, instead of what they know. There are very few people on her board who could giver her valid advice about how to run a medical device company, they are all bureaucrats and politicians.
