Theranos, Inc.

Theranos did not become a diagnostic-safety case because a small blood sample was an illegitimate research goal. It became one because a commercial laboratory reported patient results and raised investment capital while the evidence available to test its broad claims remained fragmented, restricted, or materially inconsistent with what outsiders were told. Reconstructing that sequence before assigning responsibility shows where practical control sat: with executives who authorized claims and expansion, laboratory leaders who controlled release of results, technical teams who generated validation and quality-control evidence, commercial partners and directors who could demand independent proof, and regulators whose separate mandates covered the laboratory, devices, securities, and later criminal conduct.