Updated | In the past few years, Silicon Valley entrepreneurs, buoyed by the buzzwords ofdisruption and big dreams, flooded into health care and biotech industries. Now, some of the most zealous believers are reeling, with nothing to show but bruised reputations.
On Thursday, Zenefits, the beleaguered human resources software startup-turned-unicorn, took another blow after Buzzfeed News uncovered secret software that helped its health insurance brokers cheat on their legally required licensing process. Hours before Buzzfeed’s story broke, the California Insurance Department announced it will investigate Zenefits over compliance issues.
Zenefits’s troubles coincided with controversy surrounding Theranos, another highly praised nonpublic, health-related startup, which boasted it could gather a myriad of biometric data with just a drop of blood. For the full article click here
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