'The Food and Drug Administration declared the tiny vials used by Theranos Inc. to collect finger-pricked blood from patients an “uncleared medical device” that the laboratory company was shipping across state lines. Inspection reports posted on the agency’s website Tuesday also showed that the FDA found deficiencies in Theranos’s processes for handling customer complaints, monitoring quality and vetting suppliers.'
Many 'unicorn' start-ups will struggle to live up to their potential. It's conventional wisdom in Silicon Valley that none of the so-called unicorn start-ups, valued at $1 billion and up, are actually worth their $1 billion (and higher) valuations. They will be, but they're not right now.