from Hacker News

Elizabeth Holmes' partner raises millions for new biotech testing startup

by sseagull on 5/10/25, 11:09 AM with 14 comments

• by Fade_Dance on 5/10/25, 1:29 PM

  >artificial intelligence startup hoping to introduce a product that can be used in medical testing and other settings... blood testing.

  This... literally sounds like another Theranos. Bizarre and comical.

  Is this based on solid R&D, patents, and proof of concept? Or is it more hot air?

  >Partner... Luminar

  Luminar spent massive amounts of money on in-house tech with no revenue, then ran out of money, shut it all down and outsourced it, diluted shareholders to zero, and the CEO extracted hideous amounts of cash, became one of the richest youngest CEOs of all time, and bought a massive mega millions house in Austin from the shareholder capital. Maybe that's the objective? Well if so, at this point one truly can blame the investors.

• by CAPSLOCKSSTUCK on 5/10/25, 6:13 PM

  Should've gotten the death penalty.

• by more_corn on 5/10/25, 6:46 PM

  Surely this time WILL BE DIFFERENT!!!

• by anovikov on 5/10/25, 11:30 AM

  What's so striking about it? The fact the she's a convicted fraudster does not mean that she's not an expert in the field.