The Theranos Story, ch. 28: when the SecDef nominee is on the Board of Directors

click to enlargeDoes ‘Mad Dog’ ‘Warrior Monk’ James Mattis, General, USMC (ret.) have a blind spot when it comes to Theranos? President-Elect Donald J. Trump has selected him as the next Administration’s nominee for Secretary of Defense. A remarkable leader and, yes, scholar (check his background in various sources), but he has some ‘splaining to do, in this Editor’s opinion.

This Editor leads with this question because those who have been following the Continuing Saga (which, like the Nordics, seems never-ending) know that Theranos stuffed its Board of Directors (BOD), prior to last October, with a selection of Washington Luminaries, often of a great age: Henry Kissinger, George Shultz, Sen. Sam Nunn, Sen. Bill Frist (the only one with an MD), William Perry and Gary Roughead, a retired U.S. Navy admiral. It also reads like a roster of Hoover Institution Fellows except for Sen. Frist, who sticks to the East Coast. Another interesting point: Hoover is based at Stanford University, an institution from which Elizabeth Holmes dropped out to Follow Her Vision. Obviously, there was an accompanying Vision of Washington Pull.

Also joining the BOD as of July 2013, well before The Troubles, and shortly after his retirement, was Gen. Jim Mattis (also a Hoover Fellow, photo above). When the Washington Luminaries were shuffled off to a ‘board of counselors’ after the Wall Street Journal exposé hit in October, Gen. Mattis remained on the governing BOD. Unlike his fellow Fellows, he had actually been involved with a potential deployment of the lab testing equipment. As we previously noted, as commandant of US Central Command (CENTCOM is Middle East, North Africa and Central Asia), he advocated tests of the Theranos labs under in-theatre medicine conditions in 2012-13. Leaked emails cited by the Washington Post (in Gizmodo) and also in the Wall Street Journal indicate the opposition from the US Army Medical Research and Materiel Command at health-intensive Fort Detrick MD, which oversees medical research, based on the undeniable fact that the equipment and the tests weren’t FDA-cleared, which remained true two years later…and which Gen. Mattis tried to get around, being a good Marine. Nonetheless, the procurement of Theranos equipment was halted. DOD permitted him to join the BOD after retirement as long as he was not involved in any representations to DOD or the services. (Wikipedia bio)

Yesterday, Theranos also announced that it is dissolving (draining?) the ‘board of counselors’. They led with a BOD shuffle, with Daniel J. Warmenhoven, retired chairman of NetApp, replacing director Riley P. Bechtel, who is withdrawing for health reasons. (Warmenhoven also serves on the Bechtel board, so they are keeping an eye on the estimated $100 million they invested). Gizmodo and Inc. While effective January 1, the Theranos website has already scrubbed the counselors and updated the BOD.

However, Gen. Mattis remains a director, until such time as he actually becomes Secretary of Defense, which is not a lock for Senate approval by a long shot. First, he requires a Congressionally approved waiver demanded by the National Security Act of 1947, as he has been retired only four years (as of 2017) not the required seven. Second, his involvement with Theranos has already been questioned in the media. After all, it is a Federal Poster Child of Silicon Valley Bad Behavior: censured by CMS, under investigation by SEC and DOJ. It is a handy, easily understandable club with which to beat him bloody (sic). WSJ’s wrapup.

In this Editor’s opinion, the good General should have left in October, but certainly by April when CMS laid the sanctions down, banning Ms Holmes and Mr Balwani from running labs for two years in July. What is going on in the ‘Warrior Monk’s’ mind in sticking around? Is there anything to save? 

If the WSJ articles are paywalled, search on ‘Gen. James Mattis Has Ties to Theranos’ and ‘Recent Retirement, Theranos Ties Pose Possible Obstacles for Mattis Confirmation’.  Oh yes…see here for the 27 previous TTA chapters in this Continuing, Consistently Amazing Saga.

Telemedicine’s ‘missing link’ found? American Well adds Tyto Care remote diagnostics. (US)

click to enlargeTelemedicine leader American Well and telehealth newcomer Tyto Care announced a new partnership that (finally) pairs up remote diagnostics to the virtual doctor visit. Patients (or parents) can use the Tyto Care device before or during the online visit to take guided exams of the heart, lungs, abdomen, ears, throat, skin and temperature which is then shared with the doctor. The releases indicate that the American Well-Tyto Care combination will be introduced first to health systems and employers. The Tyto Care examination platform and clinical data are being integrated into American Well’s telehealth platform. Timing and pricing are not disclosed, but the retail price of Tyto Care’s home model is $299.  Tyto Care, American Well releases.

Tyto Care recently obtained FDA 510(k) Class II clearance for its digital stethoscope snap-on to the main device to monitor heart and lung sounds. [TTA 2 Nov] The all-in-one type device also includes attachments for a digital imaging otoscope for ear exams, a throat scope, a skin camera and thermometer swipe. A new and quite comprehensive demo video of Tyto Care on its own platform is viewable on YouTube, which includes how a doctor can review the information during a live video visit, or as a store-and-forward exam. Tyto Care is also introducing a professional version of its device and platform.

Tyto Care has also made it to the finals of The Best of Baby Tech (a/k/a The Bump) Awards, which include a new version of the awww-worthy Owlet smart sock baby monitor, the Edwin the Duck child learning tool, TempTraq’s continuous temperature monitor and the SNOO smart sleeper. They will be exhibited with 13 other finalists at CES 2017 in the Bump Pavilion at the Baby Tech Showcase 5-8 January, with winners in six categories on the 5th. #babytechces

PCHA Connected Health Conference in Washington–book soon!

11-14 December, Gaylord National, National Harbor MD (Washington DC area)

Hosted by the Personal Connected Health Alliance, the Connected Health Conference was renamed in 2015 to reflect an increasingly consumer-centered, technology-enabled and collaborative approach to improving health, and builds on the success of the mHealth Summit. There are three days of programming with over 300 speakers, four tracks, a new and innovative exhibit floor, and specialty events. Each component — from keynotes, panel discussions, interactive sessions, roundtables and the dynamic exhibit floor — focuses on new research and actionable knowledge such as best practices, lessons learned and conclusive case studies.

  • Pre-conference sessions providing a deep dive into key topics
  • Four content tracks bringing diverse perspectives, sparking meaningful discussion and advancing new solutions around key issues such as behavior change, real time intervention, design, collaboration, data science, disparities, policy, interoperability, ethics, privacy and security, and more
  • Numerous opportunities for networking

Co-located at the Conference is the Global Digital Health Forum, which addresses digital health in low- and middle-income countries.

Click on the advert in the right hand sidebar or the link above to learn more. When you register, use code TELE100 for $100 off registration. TTA is a media partner of the PCHA Connected Health Conference.

What are the true costs of analogue care?

With current approaches to Scotland’s social services labelled unsustainable, and health care similarly under pressure, this guest article by Tom Morton of Communicare247 argues that the potential for digital technology to address health and care needs should be realised now, rather than waiting for the limitations and costs of existing analogue solutions to become ever more apparent.

Health and care provision across the globe is under pressure to provide the best in care to a growing population, in the most efficient way possible. Different countries are responding in different ways.

In Scotland, rising demand and costs for public services mean that, “by 2020, the country’s 32 councils will have to spend an extra £700m on top of the £3.1bn per year spent now”, Accounts Commission chairman, Douglas Sinclair told BBC Scotland. He also called current approaches “not sustainable”.

Health is also facing significant financial pressures, with Audit Scotland reporting that Scottish NHS boards will have to make unprecedented savings of £492m in the current final year. Some may not be able to achieve financial balance, as all struggle to meet the needs of a growing and ageing population.

Health and care providers are looking to address these issues by delivering more person-centred services within the citizen’s home. For many this means wider use of telecare or technology enabled care (TEC) to provide remote monitoring, responsive alarms, and round-the-clock support for these individuals.

Telecare is delivering benefits; one report found that widespread, targeted use of telecare could create potential savings of between £3m to £7.8m for a typical council, equating to 7.4% to 19.4% of the total older peoples’ social care budget. Savings for the NHS have also been identified, with reductions in unnecessary hospital admissions and healthcare appointments.

So with such evidence of impact, it is disconcerting to know that only around one in seven of the over 65s have access to telecare services. Such technology could help address many of the issues affecting health and care provision, but it needs investment if it is to make its contribution.

Current analogue approaches are not fit for purpose
click to enlargeThe UK needs to invest wisely. Currently most telecare systems are reliant on phone landlines – this is called ‘analogue’ telecare. But we need to invest in digital telecare if we want to maintain a society where our senior and vulnerable citizens can be cared for in an acceptable way.

The analogue delivery system is unsustainable due to increasing demands, with often tragic communication failures emerging that could be avoided. Current analogue services already report around 3% of failed call attempts between the home and response services, because they cannot communicate effectively over the new digital telephone network systems. (more…)

The Theranos Story, ch. 27: investor ‘whales’ surface in class action lawsuit news

click to enlargeDon’t jump…you may land on one of them! In the Bottomless Well that is The Unicorn Losing Its Horn, The Transubstantiation of a $9 bn valuation to $9, to mix up a Whole Lotta Metaphors, the latest is that Certain Big Investors (‘whales’ in Vegas Lingo) and at least one minnow have lost their shirts, or maybe their sleeves and cuff links.

The first is via a class action lawsuit filed Monday against Theranos in San Francisco Federal Court by Hagens Berman Sobol Shapiro LLP, seeking to represent potentially hundreds of purchasers of Theranos shares from July 29, 2013, through October 5, 2016 .

According to the Wall Street Journal, the charges relate to “false and misleading claims about its operations and technology while soliciting money from investors.” Hagens Berman is representing Silicon Valley investment banker Robert Colman, who is the retired co-founder of Robertson Stephens & Co. (a legendary, now defunct, investment bank specializing in tech that blew up after the dot-com bust). He invested through a VC fund, Lucas Venture Group, who participated in Theranos’ Series G funding in late 2013. Lucas was invited to invest $15 million, and their principals had personal ties to Elizabeth Holmes, according to TechCrunch. The second plaintiff, Hilary Taubman-Dye, purchased Theranos shares at $19/share on SharesPost Inc., an online exchange for shares of private companies, in August 2015. Her claim is that she tried to cancel it after the Wall Street Journal exposé in October, but the purchase went through in December after Theranos, Elizabeth Holmes and an unidentified third party refused to buy back the shares as a secondary transaction. TechCrunch identified her as a “longtime technical recruiter who now works in investor relations for a TV production company” which means that her investment was likely no bag of shells for her. Their respective investments are not disclosed.

The second, according to a second article in the Journal, comes from the usual ‘sources familiar with the matter’ and papers filed by Theranos in Delaware and Arizona. These include some very atypical startup investors, such as Rupert Murdoch of News Corp. and family-controlled Cox Enterprises, at $100 million each in the 2014-15 round when shares were valued at $17/each, and an undisclosed amount by Riley Bechtel of Bechtel Group, who was later named to the board of directors. Other, more typical Silicon Valley investments date back to when Theranos was the more pedestrianly named Real Time Cures in 2004 and the shares were 15 cents each:

  • Oracle co-founder Larry Ellison
  • VCs from firms such as ATA Ventures and Draper Fisher Jurvetson. The latter’s Tim Draper and his daughter (!) have been quite critical of anyone, especially John Carreyrou of the WSJ, claiming that Ms Holmes was perhaps mistaken in her scientific and business practices. (Partner Jurvetson in reports has expressed a more ‘que será, será’ attitude.) (more…)

#MedMo16 video highlights and awards on YouTube (Day 2)

Again courtesy of the MedStartr crowd-based healthcare investment fund and HealthTechTalkLive is the video of the second day at #MedMo16 from City Winery in NYC. It is just over 6 hours and includes both a panel discussion and individual presentations on what healthcare and the ACA will look in the Trump administration, blockchain, what it is like to grow your startup to a ‘baby unicorn’, human-centered design, investment and–most interesting to this marketer–being a ‘lean rat’ to run that business plan maze (2:29:00).

The five winners of the Mega Challenge start at 5:55:00:

Population Health, Payers and PharmaTech: EllieGrid (med management) and Mymee (personal health coach)
People’s Choice: Aloha Health (personalized care data for engagement)
Devices and Wearable Health Tech: Ceeable (cloud-based eye exam)
Design: Ceeable
Clinical Innovations and Hospital Tech: Haystack (proteome molecular profiling for cancer)

Day 2 link is here. More on this when your Editor has time to recover! Special thanks to Alex Fair, Tom Tagariello, Ben Chodor, Ivan Schlachter, Mimi Rosenfeld and Steve Greene on the #MedMo16 team.

Events dear boy, events…

Here is a selection of events you may wish to engage with that have crossed this editor’s PC recently:

Nominate someone for a Digital Pioneer Award – nominations close on 2 December.

DigitalHealth.London in collaboration with NHS England is hosting the Digital Pioneer Awards. They are seeking out within the NHS individuals at any rank and in any role, who are deserving of an award for any of:

  • Digital leadership
  • Digital Innovation, or
  • Sustainability through digital (which means that they have been instrumental in making sure a digital implementation has been sustained enough to a point of delivering benefit).

Med-e-Tel, the Luxembourg event,  has a call out for abstracts with a deadline of 4 December.

The NHS England Clinical Entrepreneur Programme have launched recruitment for their second year cohort. Applications for all doctors will close on 9 December 2016. This intake apparently “will have limited places” (don’t they all?). Interviews will be held in March 2017 and the programme will commence in autumn 2017.

The West Midlands Health Informatics Network (WIN) will be holding its third (free) annual digital healthcare conference on 24 January 2017 at the University of Warwick. The keynote and guest speakers are:

  • Professor Theodoros N. Arvanitis, Chair in eHealth Innovation and Head of Research at The Institute of Digital Healthcare
  • John Crawford, Healthcare Industry Leader, Europe, at IBM
  • Noel Gordon, Chairman of NHS Digital
  • Harpreet Sood, Senior Fellow to the CEO at NHS England
  • Jenny Wood, Director of Adult Social Care at Solihull Metropolitan Borough Council

The aims of the conference are to:

  • showcase innovation and research in digital health, care and wellbeing;
  • enable the sharing of good practice and experience from those working in this area; and
  • promote collaboration across various settings.

The day will consist of exhibitions, poster presentations, talks/panels delivered by stakeholders, and networking sessions. With the keynote/guest speakers they have lined up, this is set to be their highest profile event to date, therefore, they ask that people should register as soon as possible here.

The Royal Society of Medicine is holding its highly popular Recent developments in digital health conference on 28 February. Speakers this year include Ali Parsa, Dame Fiona Caldicott, Shafi Ahmed,  and Sir Mark Walport – it’s going to be another great event. Last year there were disappointed late bookers because it sold out, so worth getting in early by booking here, now!

Hat tip to Prof Mike Short for some of the events.

 

You wait for ages for a new meaning for JAM then two come along together

Anyone tuning in to the Chancellor’s Autumn statement will be only too well aware of the JAMs – just about managing. However there also another JAM – the JAM Card and app which is a brilliant idea to flag to impatient people that you just need a little more time – Just A Minute, in fact – whether due to age, infirmity or disability. Now there’s an app to go with it too so you can record whether people responded well or not to you flashing the card at them.

So simple…so brilliant!

Hat tip to Prof Mike Short.

#MedMo16 video highlights on YouTube (Day 1)

Courtesy of the MedStartr crowd-based healthcare investment fund and HealthTechTalkLive is the first day video of #MedMo16 from City Winery in NYC. It’s a tick over 7 hours of six Momentum talks, two final exams for Mega Challenge competitors in population health and devices/wearables plus three panels. Your Editor is running the presentations so you know the dastardly doer of any ‘goofs’ you see! Day One is on YouTube here. The finalist list in the Mega Challenge presentations differs from the program here–start times are in parentheses:

  • Pop Health, Payers and Pharmatech: Mymee, AudibleRx, EllieGrid, Agewell Biometrics US, Aloha Health (1:03:00)
  • Devices and Wearable Health Tech: GlucoSight, Rx Bandz, HeartIn, tonguenacity, Ceeable (4:56:00)

Day 2 will be posted tomorrow.

NYeC Digital Health Conference (NYC)–next week

NYeC Digital Health Conference, 6-7 December 2016 | New World Stages, New York, NY
The New York eHealth Collaborative’s Digital Health Conference brings together 500 senior-level healthcare industry leaders to learn about new innovations and to foster dynamic conversation addressing how healthcare is being redefined through technology. It is well on track to fill completely, so if you’ve been delaying your booking, now is the time. And our readers enjoy a 10 percent discount.

Updated and expanded agenda here.

Keynote speakers:
• Robert Wachter, MD, Professor and Interim Chairman of the Department of Medicine, University of California, San Francisco, author of “The Digital Doctor: Hope, Hype and Harm at the Dawn of Medicine’s Computer Age” [TTA 16 Apr 15]. (To this Editor, this is a must-see keynote!)
• Steven Johnson, PBS Host and Bestselling Author, “How We Got To Now” and “Where Good Ideas Come From”

Some other speakers: Carol Raphael, the former CEO of Visiting Nurse Service of NY; Kristopher Smith of Northwell Health; James Mault of Qualcomm Life and Aron Gupta of Quartet Health. This year a who’s who of New York’s healthcare and health tech community will gather for two days of networking, lively intellectual exchange, and exploration to see what’s new, what’s cutting edge and what will shape the future of healthcare.

It’s worth taking the trip to NYC for this right before the holidays! For more information, click here for the website.

Telehealth & Telecare Aware Readers receive a 10% registration discount. Click on this link or the sidebar advert. Important–use code TTA when registering. For updates, @NYeHealth. TTA is a conference partner/media partner of the NYeC DHC.

A ‘wearable airbag’ belt to prevent hip fractures due to falls

click to enlargeDo you believe older adults at high fall risk would voluntarily wear a belt that would deploy cushioning air bags around the hips in the event of a fall? This Editor was initially skeptical reading the MedCityNews article on ActiveProtective‘s $2.6 million Seed 3 round raise. The belt, looking at their photo and the one on the ActiveProtective website (left above), looks like a hard and uncomfortable ring, which didn’t make much sense as the ring in a fall impact could itself create injury. There was also a brief mention of fall detection but not how they worked together.

But before nominating this as a Thanksgiving Fowl, this Editor wanted to Dig Deeper. In their press, this TEDMED video with founder/presenter Drew Lakatos, while originally from 2014, explained its workings far better. (more…)

Last call for London Health Technology Forum Thursday, early bird RSM mHealth 2017

On the evening of Thursday 24th November, the London Health Technology Forum holds its last event of the calendar year on “Intellectual property & licensing”. This is a really critical area that this editor has seen more people lose money on because of not handling properly than in any other aspect of early start-up management – it truly is vital to think through very early on, to stop people stealing your ideas and paying an appropriate price to license them. Attendance is free; booking is here.

(The RSM’s mHealth app conference on 4th April 2017 is just about to end its early bird prices too – worth booking here anyway now, at it’s usually a sellout).

Robot-assisted ‘smart homes’ and AI: the boundary between supportive and intrusive?

click to enlargeSomething that has been bothersome to Deep Thinkers (and Not Such Deep Thinkers like this Editor) is the almost-forced loss of control inherent in discussion of AI-powered technology. There is a elitist Wagging of Fingers that generally accompanies the Inevitable Questions and Qualms.

  • If you don’t think 100 percent self-driving cars are an Unalloyed Wonder, like Elon Musk and Google tells you, you’re a Luddite
  • If you have concerns about nanny tech or smart homes which can spy on you, you’re paranoid
  • If you are concerned that robots will take the ‘social’ out of ‘social care’, likely replace human carers for people, or lose your neighbor their job, you are not with the program

I have likely led with the reason why: loss of control. Control does not motivate just Control Freaks. Think about the decisions you like versus the ones you don’t. Think about how helpless you felt as a child or teenager when big decisions were made without any of your input. It goes that deep.

In the smart home, robotic/AI world then, who has the control? Someone unknown, faceless, well meaning but with their own rationale? (Yes, those metrics–quality, cost, savings) Recall ‘Uninvited Guests’, the video which demonstrated that Dad Ain’t Gonna Take Nannying and is good at sabotage.

Let’s stop and consider: what are we doing? Where are we going? What fills the need for assistance and care, yet retains that person’s human autonomy and that old term…dignity? Maybe they might even like it? For your consideration:

How a robot could be grandma’s new carer (plastic dogs to the contrary in The Guardian)

AI Is Not out to Get Us (Scientific American)

Hat tip on both to reader Malcolm Fisk, Senior Research Fellow (CCSR) at De Montfort University via LinkedIn

One Caring Team testing virtual reality for dementia and depression treatment, relief

click to enlargeA San Francisco-based company, One Caring Team, is visiting Bay Area seniors with a treatment that is also a treat–virtual reality headsets that recreate a beach or other relaxing environment. VR has been used with Microsoft Kinect in game-playing in assisted living communities, but the physician-founder Sonya Kim is seeking to give a break most to those older people with dementia or depression. They no longer can travel and their world has grown very small. VR gives them an opportunity to hear and see things they haven’t in a long time, if ever. Versions being tested have both a VR picture, narration on screen and audio; versions for dementia patients skip written ‘bubbles’. The point is to have the clients/patients feel safe, relaxed and welcomed. Some of the results have been that patients start to speak, interact with the pictures intuitively and be more alert, with lasting effects between VR visits. Formal studies have been done in other settings for pain management and for rehab, but this is a new company and concept. One problem is cost: $850 for each Samsung Gear VR headset plus the Galaxy smartphone, but if anything help on VR and social funding is easy to find the Bay Area; founder of the Virtual World Society, the University of Washington’s virtual interface pioneer Dr. Tom Furness, is now One Caring Team’s acting chief technology officer. Washington Post, NPR, F6S.com (Photo from One Caring Team via NPR)

Off to DC court we go: Anthem-Cigna, Aetna-Humana merger trials (US)

It seems like a year ago that the US Department of Justice sued to stop the merger of these healthcare payer giants on antitrust grounds, but it was only July! On the face of it, it would reduce the Big 5 Payers to the Big 3, with the $48 bn Anthem-Cigna matchup besting UnitedHealthcare for the #1 pole position with 45 million covered persons. DOJ also cited reduction of benefits, raising premiums, cutting payments to doctors and reducing the quality of service. 11 states, including New York, California and Connecticut, plus the District of Columbia, are backing the DOJ.

The Anthem – Cigna trial started today in US Federal Court in Washington DC. It is a two-phase hearing: the first on Anthem – Cigna’s merger’s effect on national employers, the second starting 12 Dec on local markets.

So much has happened since our July report, none of it good. ACA exchange plans have hiked benefits up well into the double digit increases by state due to lack of competition: CO-OP insurers couldn’t defy actuarial gravity for long and went out of business; commercial insurers lost too much money and bailed from multiple states (KFF). The effect on Medicare Advantage programs, which are judged on the county-state level, will be most significant with a combined Aetna-Humana having 40-50 percent market share in many counties. This triggers divestiture in current regulations.

These mergers rarely go to court after a DOJ action, so all eyes are on DC. An added fillip is that many expected the lawsuit to be the final kibosh on a Anthem-Cigna deal where reports of conflicts on future management and governance of a single entity were frequent. It wasn’t–and DOJ reportedly will be using documentation on the governance clash to demonstrate why it should not take place.

The $38 bn Aetna – Humana court date is 5 Dec, also in Washington, before a different judge.  All want a decision before year’s end so that (if positive) they can proceed with state regulatory approvals before deal expiration on 30 April 2017.

Bloomberg Big Law Business, USA Today  Also don’t assume this has much to do with a Donald J. Trump administration being ‘typical Republican=friendlier to Big Mergers’, because the president-elect has been hostile to other high profile ones, notably AT&T/TimeWarner, and this will be over before a new Attorney General is confirmed.

The Theranos Story, ch. 26: counsel Boies, Schiller & Flexner departs, disagreeing

click to enlargeAppearing in the netherworld of a Saturday weekend edition before a holiday week was this tidbit in the Wall Street Journal announcing that Theranos‘ legal representation will no longer be big, politically connected NY-based law firm Boies, Schiller & Flexner. Their replacement is a big, politically connected Washington, DC-based law firm, WilmerHale.

Reasons why, according to the John Carreyrou article, are disagreements on how to handle the ongoing multiple government investigations of Theranos. It also follows the September departure of in-house general counsel, and former Boies partner, Heather King, who is returning to the firm. Her replacement is David Taylor, who has no visible ties to WilmerHale.

According to Mr Carreyrou, Mr Boies “became Theranos’s outside counsel after being approached in 2011 by two investors in the Palo Alto, Calif., startup. He fiercely defended Theranos against questions about its technology and operations.” Those actions included threats of legal action against the WSJ and pressuring whistleblower Tyler Shultz (ch. 25).

Mr Boies also sits on the Theranos board. His fate there is not disclosed, yet.

David Boies is known as a bare-knucks litigator involved in high profile cases defending Sony, American Express and Big Tobacco, and against Medco, Microsoft and George Bush in the 2000 presidential election. At 75, the chairman is one of the best known figures in what is colorfully termed Big Law.

Perhaps another reason why is found at the end of the article. “The law firm was paid in Theranos stock for its work on the patent case, according to a person familiar with the matter. Boies Schiller was granted more than 300,000 shares valued at $4.5 million, based on a valuation of $15 a share at the time, this person said.” Since this $9 bn Unicorn is now worth about $9, this was a bad investment, indeed.

But Elizabeth Holmes, and whoever is left, are soldiering on to “show who we are through our inventions.” Indeed.

If the link hits the paywall, search on “Theranos and David Boies Cut Legal Ties”.  See here for the 25 previous TTA chapters in this Continuing Saga.