Tyler Shultz brings a message of purpose and courage to the Canton, Mo. campus
CANTON, Mo.–The man who, as a college student, brought down the $9 billion biotech empire (at its peak evaluation) spoke before a packed house of Culver-Stockton college students Wednesday, recalling how that pivotal moment to expose fraud came when he was about their age.
“I thought I was the perfect person for this,” Tyler Shultz said. “I am so grateful I made it to the other side of this.”
Fresh out of college, Shultz joined Theranos, a Silicon Valley startup. But just days into the dream job, the nightmare began.
The company’s claim of a device that could diagnose dozens of diseases with just a finger prick and mere droplets of blood didn’t exist.
“I really needed to speak up,” Shultz said. “People were getting hurt.”
His pursuit of the truth consumed his 20s and strained his relationship with his grandfather, former U.S. Secretary of State George Shultz, who was on the Theranos Board of Directors.
Shultz detailed for the students how he discovered all was not as CEO Elizabeth Holmes had presented to the world, and how her boyfriend at the time, and Theranos COO, Ramesh “Sunny” Balwani, thwarted his initial attempts to discuss the discrepancies through intimidation.
Shultz said it was part of the culture.
“Instead of speaking up, people quietly quit,” Shultz said.
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