One of Theranos Inc.’s biggest financial backers has sued the embattled startup and its founder for allegedly lying to attract its nearly $100 million investment. Partner Fund Management LP, a San Francisco-based hedge fund, filed the suit in Delaware Court of Chancery.
“Through a series of lies, material misstatements, and omissions, the defendants engaged in securities fraud and other violations by fraudulently inducing PFM to invest and maintain its investment in the company”, they stated.
I’d like to point out that this case is merely the first of the kind.
Women have passionately desired to show the whole world that they are capable of being next Steves Jobs. We keep boiling waters over our efficiency in business and management, diversity in startups and venture capital, and so on and so forth.
The coin flips its other side when things go wrong: the more attention we’ve got to prove how cool we are, the more attention our fails get too. We will not get any preferences for being women. But this is what we’ve been fighting for — equality in everything, haven’t we?
“Here you go, — they’ll say. — You said you’re like men? We’ll treat you accordingly. No mercy.”
Staying silent in fear to attract to much attention isn’t an option. We just have to be really careful, because fails like Theranos won’t only hurt your personal reputation as an entrepreneur, but will also hurt the reputation of all other women in the tribe.
We have made a conscious decision to stand out. This puts us under higher scrutiny and hold to tougher standards than men. But we can deal with it as well. Just consider all the risks and make sure, the truth is on your side. This is what a great entrepreneur should do, right?