A Wall Street Genius's Final Investment Playbook-Chapter 84

Next is the facility tour.

"This is the lab."

As the door opened, a dazzling white world greeted us. In a space reminiscent of a sterile room, researchers in white coats were bustling about.

On the experiment table were neatly arranged pipettes, test tubes, and various chemicals, and the researchers were engrossed in data analysis in front of monitors.

However, once again, no one looked at the strangers.

I mingled among the people and closely examined the lab equipment.

I looked for a device that resembled a black printer, but it was not there.

‘Well, is that expected?'

What I was looking for was a device from the famous medical equipment company ‘Jimenson'.

Because Theranos has been conducting blood tests using that instead of their own device.

Their own product, Newton, produces such a mess of results.

The results come out, but they are random.

If such faulty results are shown, it immediately exposes the lack of technology.

So, I knew that Theranos had been modifying and using Jimenson's device for a while, but it was not in this lab.

A smile naturally came to my lips.

There was only one thing this situation meant.

‘A fake lab.'

The anecdote that Theranos had set up a fake lab was famous.

Even in front of Vice President Bydan, who had requested the facility tour, they had prepared a lab that was merely a stage setting, and it seemed they had gone through that trouble again today.

"Come this way."

Holmes led us to an inner room and declared,

"This is Newton."

The device in front of us was the Newton, which Theranos claimed to be the epitome of innovative technology.

"Wow!"

"This is it!"

At the sight of the device, some of the group exclaimed softly.

The appearance of Newton was quite plausible.

With a touchscreen and only one slot, it embodied extreme minimalism.

Its sleek design somehow felt familiar.

I didn’t miss the opportunity to strike up a conversation.

"Indeed, I see why it's called the iPod of diagnostic devices."

Only then did Holmes turn his gaze towards me.

I tried to keep my expression as calm as possible, but I couldn’t completely hide the smile curling at the corners of my mouth.

"Where did you hear that phrase?"

"Most external evaluations say so."

"That's an overstatement."

Though she expressed modesty outwardly, her pleasure was obvious.

After all, Holmes virtually worshipped Steve Jobs.

Beyond simple admiration, she really tried hard to become like Jobs.

Wearing a black turtleneck like Jobs was just the basics; she even wanted to make her company's products like Apple’s and had hired Apple designers.

To her, comparing Newton to Apple was the highest compliment.

But why stop there.

If I’m going to praise, I might as well do it right.

"It's not an overstatement. Newton will shake up the entire industry more than Apple did. The iPod was called innovative because it opened a new ecosystem, but technically, its advancements were not minimal. Newton, on the other hand, not only opens a new ecosystem but also achieves technological innovation…"

I continued passionately, choosing words that would be music to Holmes's ears.

Then suddenly, I seemed to come to my senses and stopped talking.

"Ah, I apologize. I tend to talk too much. I just couldn't wait to see it in person."

I was playing the role of a character mesmerized by Holmes.

In fact, I had wanted to ask a question during the earlier presentation for that very reason.

Today, I was the Asian nerd genuinely curious about this technology.

When Holmes began recruiting volunteers during the demo, I quickly raised my hand again.

"But perhaps someone older might be more suitable," Holmes said, seeming a bit troubled.

This blood test could detect health anomalies. Holmes seemed to prefer older people over a young person like me.

But I did not back down.

"Disease does not discriminate by age. Plus, I have always been concerned because my family has a history of cancer. Both my parents and grandparents died of it… When you mentioned that cancer biomarkers could enable early diagnosis, I thought this technology is exactly what this age needs. It could expand the market not only to the elderly but also to the younger generation… Ah, sorry, I've gone on too long again."

My passionate response seemed to resonate with Holmes, who nodded in satisfaction.

I had made my mark.

As I sat down on the prepared chair, a researcher approached and pricked my fingertip.

With a sharp sensation, a red liquid was collected into a nanotainer the size of a fingernail.

The researcher skillfully transferred it to a cartridge and inserted it into the device.

But just as the researcher was about to operate the screen,

"Can you also check the potassium levels?" I interjected.

"Potassium?"

"Yes, there's a history of chronic kidney disease in my family."

Holmes and the researcher exchanged glances for a moment.

After a brief and strange pause, the researcher hesitated and then answered,

"Unfortunately, we are not prepared to test for potassium today."

"That's a pity."

I sighed as if disappointed.

Holmes seemed to study my face for a moment, but I just stared blankly at the device's screen.

Then Holmes turned to the other investors and continued explaining,

"As you can see, Newton is not portable, but the upcoming MiniScan will be a portable model. It's a product that patients can use conveniently in their daily lives…?"

I waited for the right timing and then whispered to a nearby researcher.

"But how did you do it?"

"What do you mean…"

"Isn't Newton based on chemiluminescence immunoassay? I've been curious about how you measure potassium with it, I couldn't even sleep."

The researcher's eyes wavered at my question. Newton conducts blood tests using chemiluminescence immunoassay (CLIA). Simply put, CLIA is a technology that uses the binding of antigens and antibodies. When an antigen in the blood binds with a specific antibody, this chemical reaction emits light. The light is measured to produce results.

"Isn't it difficult to apply antibody methods to potassium due to its molecular structure? It must not be easy to handle such simple ions with CLIA, how did you overcome that problem?"

They didn't overcome it. That's why Newton sometimes shows absurd potassium levels. Levels you'd expect from a corpse. That's exactly why they're avoiding the demo. If the results came out, I could be labeled as a walking corpse.

"That is…"

Just as the researcher began to speak,

"That's our proprietary technology and cannot be disclosed," Holmes interrupted. Her sudden intervention was awkward, interrupting the conversation with the investors to interject, giving the impression of trying to hide something that should not be discussed. Despite her firm response, I couldn't hide my excitement and continued.

"But this is truly innovative! Measuring simple ions with CLIA! How exactly did you solve this complex problem?"

"That's too technical for you to understand."

"That's okay. I graduated from medical school."

"…!"

For a moment, Holmes's expression visibly faltered. I did not stop and continued to talk passionately.

"This is truly innovative, no, revolutionary! Especially using capillary blood from a finger! Capillary blood is a mixture of arterial and venous blood, which makes it inconsistent and susceptible to contamination from surrounding tissue fluid. The filtration process would have diluted the blood, reducing precision, how did you solve this issue?"

They didn't solve it. That's why Theranos couldn't get accurate results even using someone else's devices. Using blood drawn from a finger inherently leads to errors. This led to patients filing class-action lawsuits against Theranos. They had made absurd diagnoses like declaring healthy people to have cancer or to be pregnant.

"Even stable venous blood needs at least 2-3 milliliters to ensure accuracy, and yet Newton performs precise tests with just microliters of capillary blood! This is physically impossible!"

I acted like a naïve Asian engineer, awed by Holmes's genius, demanding more detailed explanations. Outwardly, I appeared like an enthusiastic fan, but in reality, my questions were digging into their technical flaws one by one.

"Making the impossible possible, that's what innovation is."

"Still, could you at least explain the principle of this innovation…"

"I cannot disclose that, it's proprietary information. Coca-Cola doesn't reveal its formula either."

"But the label lists the ingredients, doesn't it? At least they mention ‘natural flavors' as a general category. That's all I want to know."

The atmosphere was gradually becoming strange. My relentless praise and plea for information in front of a wall of exclusivity looked excessively cold.

"Above all, it doesn't seem professional."

I continued to mention technical details, explaining the limitations of this technology. If Holmes had responded with a similar level of technical terminology, maybe it would be different. But repeating ‘proprietary technology' only highlighted their relative ignorance.

Actually, the investors around us were beginning to show signs of doubt.

"How will they handle this?"

They might have prepared for sharp criticism, but an attack within praise was probably unexpected. However, Holmes offered an unexpected solution.

"It seems you have many questions, how about we arrange a one-on-one Q&A session?"

Holmes glanced at the other investors before continuing to speak to me.

"Detailing this might bore the other investors. It would be inefficient to take everyone's time because of one person's curiosity, so I will assign a senior researcher to you."

That was a clever response. This way, they could isolate me from the other investors under the guise of transparency.

Soon, a fierce-looking Indian approached me. The vice president and a co-conspirator in this scam, Sharma.

"Follow me."

As I walked down the hallway with Sharma, he suddenly turned back and growled,

"If you behave so cluelessly, you won't last long in social life."

I was momentarily speechless at Sharma's sudden attack. Then he twisted his lips, checking my expression.

"If you were my subordinate, I might have fired you on the spot."

"But I'm not your subordinate."

"I'm giving you advice as someone who's more experienced in life."

His overt condescension made me laugh involuntarily. But I soon replied calmly,

"No matter my age, I'm here representing Goldman."

"Goldman?"

"Mr. Prescott asked Goldman for a consultation."

The mention of Goldman seemed to surprise him, indicating he was completely unaware of my background. He was momentarily flustered but soon regained his skewed smile.

"Even so, you're just an analyst. It's quite evident that you lack experience."

Although I was well aware of his rudeness from a previous life, this exceeded my expectations. Then, I was led into a small room.

Sharma stood at the entrance of the room, looking at his wristwatch and muttering irritably.

"Why isn't this person coming? I'm extremely busy."

He was obviously doing this for me to hear, clearly intending to make me uncomfortable. However, I responded calmly.

"If you're busy, you're welcome to leave first."

"We are very strict about security."

"There are CCTV cameras anyway. Where could I possibly go?"

As he glared at me, an Asian woman arrived.

Sharma growled at her too.

"Why are you so slow! Do I have to handle such trivial matters myself?"

The way he said "Do I" revealed his worldview. He seemed to categorize the world into executives and subordinates, and he evidently liked to flaunt that he belonged to the former.

"I'm, I'm sorry."

"Stop the unnecessary chatter and just give the information that can be disclosed. It seems you have many questions."

With one final scold, Sharma left. Then, in the small room, it was just me and the Asian woman.

"Is he always this rude and arrogant?"

The woman smiled briefly at my question but quickly composed herself.

"I heard you have questions, but I'm not sure how much I can answer. Most technical details are proprietary…"

"Excuse me, but what is your position here?"

She hesitated for a moment before answering.

"I'm a junior researcher in the lab. Not a senior one…"

I had guessed as much from her youthful appearance; she seemed to be a lower-level employee. She appeared slightly embarrassed by her position.

However, this was actually an excellent opportunity for me. I specifically needed a lower-level employee.

The reason was simple.

As I mentioned, in a previous life, this company ultimately fell due to a whistleblower. And that whistleblower was none other than a junior employee.