Good morning, Broadsheet readers! Theranos CEO Elizabeth Holmes dominates the headlines, Americans don’t think moms should work full-time, and Roberta Kaplan recounts the argument that helped her bring down DOMA. Have a wonderful weekend.
• Bad blood. The business press is abuzz about yesterday’s Wall Street Journal investigation of Theranos, the blood-testing company founded by Elizabeth Holmes. To recap: The story alleges that Theranos does not use its own technology for many tests, that its tests many be inaccurate, and that it essentially cheated on tests to maintain its lab certifications. The company responded to the story with a statement refuting the charges. Holmes also appeared on CNBC’s Mad Money last night to say she was shocked by the allegations, since Theranos sent the WSJ more than 1,000 pages of documentation that allegedly refuted points made in the story. This morning, the WSJ reports that the company has stopped collecting tiny vials of blood drawn from finger pricks for all but one of its tests.
• Fortune’s take: Roger Parloff, whose 2014 Fortune cover story brought Theranos to prominence, spoke to general counsel Heather King, who also refutes the WSJ claims. Parloff notes that the accuracy of the tests is a matter of life and death—and one that has the potential to sink the company. Meanwhile, Jennifer Reingold weighed in on the company’s board, which she says was assembled for “its regulatory and governmental connections, not for its understanding of the company or its technology.” Fortune editor Alan Murray and senior editor Dan Primack speculated about the connection between this scandal and the likely fate of other “unicorn” companies (venture-backed startups valued at $1 billion or more—Theranos is valued at $9 billion). While Murray noted recent speculation that the slowing economy may put some of these companies out of business, Primack makes the case that Theranos is a different beast—the rare biotech unicorn that will live or die based on the success of its technology.
ALSO IN THE HEADLINES
• Think different. Noah Zandan, CEO of Quantified Communications, notes that in Tuesday’s interviews with five CEOs at the Fortune Most Powerful Women Summit, “think” was the most commonly used word (uttered 101 times, to be exact). While some might say that reliance on the word “think” implies uncertainty, Zandan has a different take. Fortune
• Girls who get hired. Reshma Saujani, founder of Girls Who Code, announced a partnership with 26 tech companies (including Facebook and Twitter) that are pledging to consider hiring GWC grads. WSJ
• Sleepless in Trumpland? Ivanka Trump didn’t dish only about her dad’s presidential campaign in her sit-down with Pattie Sellers at the Fortune MPW Summit; she also revealed how she balances her career with her family life. Her secret will sound familiar to many sleep-deprived working moms… Fortune
• CEO beauty tips. Speaking to Fortune‘s Leigh Gallagher at the MPW confab, Ulta Beauty CEO Mary Dillon explained why she plans to open 100 stores per year, how her lead-parent husband helps her succeed, and why we should all know about “strobing.” Fortune
• Don’t argue with Robbie. In this adaptation from her new book, Then Comes Marriage: United States v. Windsor, attorney Roberta Kaplan recounts her 2013 oral argument before the Supreme Court, a rhetorical coup that helped set the stage for gay marriage nationwide. Fortune
• Susan says pay moms. Speaking the Grace Hopper Celebration, the largest conference dedicated to women in technology, YouTube CEO Susan Wojcicki said that in order to attract more women to tech (and get them to stay), companies should embrace more aggressive paid maternity leave policies. She should know: Wojcicki famously made use of her own company’s paid leave policy five times. Fortune
MOVERS AND SHAKERS: Christina Smedley, most recently PayPal’s VP of global brand and communications, is joining Facebook to run communications for Messenger. Andrea Diquez has been named president of ad agency Saatchi & Saatchi New York. MTV veteran Tina Exarhos is leaving her post as EVP marketing and creative at the network.
IN CASE YOU MISSED IT
• What nursing shortage? As the number of nurses—a professional group that remains predominantly female—has spiked, those who have an associate degree (rather than a bachelor’s) report increasing difficulty in landing jobs. WSJ
• Revenge on revenge porn. Kamala Harris, Attorney General for California—the first state to convict someone for operating a revenge porn site—announced the launch of an online resource hub and awareness campaign to inform citizens about revenge porn and other forms of cyber-exploitation. Re/Code
• White is the new black? Roughly 80% of the models who walked the runway during this season’s New York, London, Milan, and Paris fashion weeks were white. Business of Fashion
Tune in to Fortune Live today and every Friday at 3 pm ET at Fortune.com. Leigh Gallagher hosts Fortune Live, and today’s show is all about the Fortune Most Powerful Women Summit, featuring interviews with GM CEO Mary Barra, Citigroup Latin America CEO Jane Fraser, and Brandeis University professor Anita Hill.
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