Kissinger’s explosive testimony was rely the spark that ignited the entire situation.
Once a domino starts to fall, there’s no stopping the chain reaction.
The mont the first piece tilted, the rest followed in succession, as if guided by an invisible hand.
His single statent toppled the first domino, and its impact imdiately knocked over the second.
That second piece was the employees of Theranos.
Most of them had not remained silent simply because they feared a fledgling startup like Theranos.
What they truly feared were the powerful figures lurking behind Theranos and their overwhelming influence.
But now, the most esteed of those figures—Kissinger—had publicly condemned Hols.
In response, more employees began breaking their silence.
"I was the head of the chemical engineering team. CEO Hols repeatedly made exaggerated statents to the dia that were contrary to the truth, so I requested that she consult our team for fact-checking before any future reports. However, Hols flatly refused. I couldn’t condone such actions, so I submitted my resignation."
This wasn’t direct evidence that Theranos’s technology was fraudulent, but it was undeniable proof of poor managent.
"Even as a laboratory staff mber, I was unaware of the existence of modified equipnt. The company physically separated each team’s work with barriers to prevent knowledge-sharing, even within the lab itself. So areas were partitioned off, while others were concealed behind heavily tinted windows."
This, too, did not directly prove the technology was fake.
But that didn’t matter.
Ha Si-heon’s lawsuit focused on mismanagent.
And the testimonies kept piling up.
Each one beca a valuable piece of evidence, exposing the bizarre operations within Theranos.
Yet, as suspicions about Hols’s managent snowballed and demands for an investigation intensified—
Surprisingly, Hols responded with an audacity beyond anyone’s expectations.
"The claims questioning our technology’s legitimacy are baseless fabrications. They are nothing more than malicious slander from disgruntled forr employees. At the upcoming National Hematology Conference, we will disclose key scientific data that has thus far been classified as confidential, proving the legitimacy of our technology beyond a doubt."
A declaration to reveal the very technology they had ticulously kept secret under the guise of "trade secrets."
Public opinion wavered.
[If she’s that confident, maybe the technology really does exist?]
[We can’t completely rule out that possibility. Honestly, the accusation that they illegally modified a competitor’s equipnt sounds a bit far-fetched.]
[There's no need to jump to conclusions just yet. Since they claim they’ll reveal the data soon, we should wait and assess it fairly afterward.]
Thus, the general consensus beca: Let’s wait for objective proof.
But watching this unfold, Ha Si-heon smirked bitterly.
"Human nature never changes so easily, does it?"
This had happened in his past life, too.
Back then, Hols had insisted their technology was real until the very last mont, boasting that the truth would be revealed at the conference.
But…
When they finally unveiled unedited data—
The controversy only grew larger.
And for good reason.
The data Hols presented was incomprehensible.
The results were derived from a re six blood samples, with an error rate so absurdly high that it defied belief.
Did Hols really think this would quell the controversy?
Of course not.
There had been only one reason Hols had taken such a reckless gamble in the past.
To buy ti.
However—
Ha Si-heon had no intention of waiting for this nonsense to play out.
He imdiately made his next move.
"I rest my case, Your Honor."
With that, the evidence presentation in the mismanagent lawsuit concluded, and both sides proceeded to their final argunts.
Hols’s attorney pleaded desperately.
"We have created the goose that lays golden eggs. Yet, blinded by envy, everyone insists such a thing cannot exist and is eager to cut it open. This is nothing short of a witch hunt! What if your judgnt is wrong? What then?"
Ha Si-heon’s attorney countered with cold precision.
"Theranos keeps shifting the argunt. We never demanded the goose be cut open. What we are questioning is why the goose’s caretaker threatens and silences anyone who cos near. We are simply arguing that the caretaker must be replaced. If the goose truly lays golden eggs, then it will continue to do so regardless of who watches over it."
The jury reached a verdict swiftly.
"We, the jury, unanimously find the defendant, Theranos, guilty of mismanagent. We rule in favor of the plaintiff, Ha Si-heon…."
The result was as expected—Ha Si-heon won.
The jury ordered Hols to pay $150 million in damages and an additional $700 million in punitive damages.
However, the judge dismissed the punitive damages portion.
Since no definitive evidence of fraud had yet been presented, awarding punitive damages would be legally unjustified.
But—
"Well, that doesn’t matter."
Ha Si-heon wasn’t concerned.
Monetary compensation had never been his goal in the first place.
Now that mismanagent had been legally confird, there were far more critical actions the court could take.
And, as expected in a case that had beco a national issue, the judge issued the following orders:
"Given that mismanagent in a healthcare company poses a severe threat to public safety and welfare, this court mandates the appointnt of an independent external auditor. Furthermore, all NDAs used to suppress whistleblowers are hereby declared null and void."
The appointnt of an external auditor.
The nullification of gag orders.
Now, a third-party audit could thoroughly investigate the company's internal operations.
This was the third domino.
And a few days after the ruling—
The fourth domino fell.
Because news broke:
"The Federal Prosecutor’s Office has officially launched a criminal investigation into Theranos."
In the previous life, it took a long two years and eight months from the Wall Street Tis exposé to Hols’s indictnt.
This was due to the nature of technology patents and trade secrets.
In Silicon Valley, the cradle of innovation, there was a particularly strong culture of respecting corporate technological confidentiality, which made it take an excessive amount of ti before the full truth of the case was revealed.
But this ti, the landscape was different.
This was because Ha Si-heon focused not on "technology" but on "managent."
In this way, there was no need to delve into the authenticity of the technology itself—suspicious circumstances were already abundant.
For example, cases like this:
—We kept getting abnormally high numbers, so we ended up designing new software. We programd it so that if a highly error-prone value was generated, the screen would freeze.
In other words, Theranos had deliberately created a program to manipulate test results.
Beyond that, as the investigation progressed, shocking revelations erged daily.
Every day, a dozen domino pieces fell, triggering a chain reaction.
—The biggest flaw of Newton was that it could only process one test at a ti. It claid to offer ‘rapid testing,' but in reality, each test took over 30 minutes. Eventually, to increase speed, they devised a way to process six tests simultaneously… but they overlooked the overheating problem. Blood tests, which are highly sensitive to temperature, were inevitably distorted.
These revelations sparked yet another chain reaction.
For instance, Walgreens, which had adopted Theranos' technology, filed a fraud lawsuit and publicly disclosed internal affairs.
—We acknowledge that our decision was hasty. But Theranos pressured us by ntioning the possibility of signing contracts with competitors.
This suggested that Theranos had skillfully exploited Walgreens' FOMO (Fear of Missing Out) by leveraging its high-profile board of directors.
—The test results were abnormal, so I ended up in the ergency room for two days. Between MRI and CT scans, I spent a staggering $4,000. But money wasn't the issue. For those two days, I went through hell. My family held each other and wept. That day was my 63rd birthday.
The heartfelt testimonies of affected patients fueled public outrage.
A collective lawsuit from employees gained montum, and patients also began preparing a class-action lawsuit.
anwhile, various states saw growing demands for legislative asures to prevent the abuse of NDAs, leading to a nationwide discussion on corporate culture and workers' rights.
Online news channels were flooded with heated debates on the Theranos scandal.
[What is the essence of this case? Silicon Valley’s ‘Fake it till you make it’ culture? Or the lack of regulations in the dical startup sector?]
[Both are critical factors. But I also believe the uncritical attitude of investors and the dia played a major role. They blindly accepted Hols's words. So even went as far as to call her the ‘female Steve Jobs.' But no one thoroughly scrutinized the actual technology.]
The Theranos scandal went beyond re corporate fraud—it raised fundantal questions about modern society’s innovation culture, the role of the dia, and the ethics of science and technology. It prompted deep reflection across Arican society.
As the Theranos scandal shook the nation, public attention naturally gravitated toward the person who ignited this exposé—Ha Si-heon.
His unique approach began to attract attention.
[While most investors were blinded by stock prices and financial performance, Ha Si-heon saw through the essence of the technology. He wasn't swayed by Silicon Valley's grand rhetoric. His scientific approach and relentless pursuit of the truth finally bore fruit.]
This was the most crucial point in the domino effect.
Ha Si-heon had previously been in the dia spotlight.
However, this ti, the attention was fundantally different.
During the Epicura case, Ha Si-heon was rely portrayed as "the Asian who subdued the great white shark" or "the hero who boldly stood against racism," but public interest stopped there.
People wanted an "Asian who criticizes white society," but no real effort was made to understand who Ha Si-heon truly was.
But this ti was different.
This case was seen as a truth that would have remained hidden if not for Ha Si-heon’s insight, prompting a deeper examination of his character.
Yet as in-depth investigations into his past achievents began, a series of unbelievable anecdotes surfaced—unrelated to the Theranos scandal itself.
[It was revealed that Ha Si-heon was already widely known on Wall Street as a forr dical student who had developed a certain algorithm. More astonishing was the fact that his predictions had an unbelievable accuracy rate…]
[He even accurately foresaw the Genesis crisis earlier this year, achieving an astounding 650% return within just one month…]
Upon closer examination, Ha Si-heon turned out to be a genius who defied common sense.
Of course, the public was hesitant to accept such claims.
-The dia is overhyping again. An 80% accuracy rate? That’s ridiculous.
-Even if that's true, how does a 650% return in a month make any sense…?
-If you think about it, the entire Theranos scandal itself was absurd in the first place…
-Hard to believe, but dismissing it as nonsense also feels unsettling.
Many were confused, unsure how to react to these seemingly unbelievable stories.
However, Ha Si-heon’s extraordinary talent was not the only thing that stood out.
His ethical stance also beca a focal point.
[One crucial point to note is that most biotech investors did not invest in Theranos.]
[They probably saw through it. The fact that they refrained from investing suggests they might have suspected fraud.]
As the Theranos investor list was scrutinized, suspicions arose about healthcare-focused investors.
On Wall Street, many biotech investors were now suspected of having "known the truth but remained silent."
[Of course, we can't bla them just for that. A firm's obligation is to generate returns for its clients, not to inform others. Especially when dealing with a company like Theranos, which threatened lawsuits against anyone who raised doubts.]
[But when public safety is at stake, it becos a different issue. Making money is one thing, but knowingly remaining silent when people's health is at risk—that’s another matter entirely.]
[If they wanted to, they could have done sothing. After all, Ha Si-heon was just a regular investnt bank analyst. Yet, he persuaded his superiors, ford a task force, and uncovered the truth.]
[The real question is whether investors maintain ethical standards while pursuing profits. In the past, unchecked profit maximization was the norm, but we have already seen the consequences of that during the financial crisis, haven’t we?]
Ha Si-heon’s distinctiveness lay not just in recognizing the truth. He took action to correct it, ultimately stopping Theranos before it spiraled into an uncontrollable disaster.
The dia began portraying him as the true embodint of a "conscience in action."
But just as such praise was pouring in— A new piece of news erged.
[Ha Si-heon is launching a new hedge fund.]
This news felt sowhat peculiar to people.
"Healthcare is not just a sector for profit-seeking. It is directly tied to patients’ lives, and thus carries a unique responsibility and duty. Therefore, I intend to establish a bio-focused activist fund—not rely to pursue profitability, but to ticulously assess technological authenticity and reliability, safeguard public health, and protect shareholders' rights as well."
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