John Carreyrou (/ˌkæriˈruː/) is a French-American journalist with The Wall Street Journal. He has worked for the Journal since 1999 and has been based in Brussels, Paris, and New York City and won the Pulitzer Prize twice.
|Education||Duke University (B.A.)|
|Employer||The Wall Street Journal|
|Known for||Reporting on Theranos and other corporate scandals|
|Bad Blood: Secrets and Lies in a Silicon Valley Startup|
|Awards||Pulitzer Prize (2)|
George Polk Award
Gerald Loeb Award
John Carreyrou was born to French journalist Gérard Carreyrou and an American mother. He grew up in Paris. Carreyrou graduated from Duke University in 1994 with a B.A. in political science and government. After graduation, he joined the Dow Jones Newswires. In 1999 he joined The Wall Street Journal Europe at Brussels. In 2001 he moved to Paris to cover French business and other topics such as terrorism. In 2003 he was appointed the deputy bureau chief for Southern Europe. He covered French politics and business, Spain and Portugal. By 2008 he was the deputy bureau chief and later bureau chief of the health and science bureau in New York.
In late 2015 Carreyrou began a series of investigative articles on Theranos, the blood-testing start-up founded by Elizabeth Holmes, that questioned its claim to be able to run a wide range of lab tests from a tiny sample of blood from a finger prick. In May 2018 Bad Blood: Secrets and Lies in a Silicon Valley Startup was published by Knopf.
In 2003, Carreyrou shared the Pulitzer Prize in Explanatory Reporting with a team of Wall Street Journal reporters for a series of stories that exposed corporate scandals in America. Carreyrou co-authored the article Damage Control: How Messier Kept Cash Crisis at Vivendi Hidden for Months, published Oct. 31, 2002.
In 2003, Carreyrou won the German Marshall Fund's Peter R. Weitz Junior Prize for excellence in reporting on European affairs for his detailed coverage of the downfall of Vivendi Universal SA and its chairman, Jean-Marie Messier.
In 2004, Carreyrou shared the German Marshall Fund's Peter R. Weitz Senior Prize for excellence in reporting on European affairs with a team of six The Wall Street Journal journalists. In the five-part series titled The Disintegration of the Trans-Atlantic Relationship over the Iraq War Carreyrou contributed the article In Normandy, U.S.-France Feud Cuts Deep. Published on February 24, 2003, while Carreyrou was based in Paris, the article explored how France's Normandy region, site of the D-Day landings, was caught between gratitude for the U.S. role in World War II and France's opposition to war in Iraq.
In 2015, Carreyrou shared the Pulitzer Prize for Investigative Reporting and the Gerald Loeb Award for Investigative with a team of investigative reporters at The Wall Street Journal for "Medicare Unmasked," a project that forced the American government in 2014 to release important Medicare data kept secret for decades, and in a sweeping investigative series uncovered abuses that cost taxpayers billions. Carreyrou co-authored four articles in the series: Taxpayers face big tab for unusual doctor billings, A fast-growing medical lab tests anti-kickback law, Doctor ‘self-referral’ thrives on legal loophole and Sprawling medicare struggles to fight fraud.
In 2016, Carreyrou received the 67th annual George Polk Awards in Journalism for Financial Reporting in 2015, and the Gerald Loeb Award for Beat Reporting. His investigation of Theranos, Inc. "raised serious doubts about claims by the firm and its celebrated 31-year-old founder, Elizabeth Holmes". According to Vanity Fair, "a damning report published in The Wall Street Journal had alleged that the company was, in effect, a sham." Carreyrou wrote the report. A book-length treatment titled Bad Blood: Secrets and Lies in a Silicon Valley Startup (2018) won the Financial Times and McKinsey Business Book of the Year Award. A film version is in the works starring Jennifer Lawrence, written by Vanessa Taylor, and directed by Adam McKay.
2003 Pulitzer Prize for Explanatory Reporting: Staff of The Wall Street Journal. For its clear, concise and comprehensive stories that illuminated the roots, significance and impact of corporate scandals in America. (Moved by the jury from the Public Service category.)
Peter R. Weitz Journalism Prizes. GMF awards two prizes annually for excellence in reporting on European and transatlantic affairs. A team of writers from BusinessWeek, led by David Fairlamb and John Rossant, were awarded the 2003 senior Peter R. Weitz Journalism Prize of $10,000 for their in-depth coverage of the expansion of the European Union to include countries of Central and Eastern Europe. The junior prize of $5,000 was awarded to The Wall Street Journal’s John Carreyrou for his detailed coverage of the downfall of Vivendi Universal SA and its chairman, Jean-Marie Messier.
2015 Pulitzer Prize for Investigative Reporting: Eric Lipton of The New York Times For reporting that showed how the influence of lobbyists can sway congressional leaders and state attorneys general, slanting justice toward the wealthy and connected. & The Wall Street Journal Staff For "Medicare Unmasked," a pioneering project that gave Americans unprecedented access to previously confidential data on the motivations and practices of their health care providers.
The award for Financial Reporting will go to John Carreyrou of The Wall Street Journal whose investigation of Theranos, Inc. raised serious doubts about claims by the firm and its celebrated 31-year-old founder, Elizabeth Holmes, that its new procedure for drawing and testing blood was a transformational medical breakthrough in wide use at the firm’s labs. Carreyrou’s well-researched stories, reported in the face of threats of lawsuits and efforts to pressure some sources to back off of their accounts, led to a reevaluation of Theranos’ prospects among investors and have been followed by regulatory actions against the company and widespread discussion that publications and institutions from Fortune and The New Yorker to Harvard and the White House may have been too quick to hail Holmes, a Stanford dropout whose personal wealth at the height of her startup’s rise was an estimated $4.5 billion, as a success story in the tradition of Steve Jobs, Bill Gates and Mark Zuckerberg.
The 2015 Pulitzer Prizes were awarded by the Pulitzer Prize Board for work during the 2014 calendar year. Prize winners and nominated finalists were announced on April 20, 2015.Bleeding edge technology
Bleeding edge technology is a category of technologies so new that they could have a high risk of being unreliable and lead adopters to incur greater expense in order to make use of them. The term bleeding edge was formed as an allusion to the similar terms "leading edge" and "cutting edge". It tends to imply even greater advancement, albeit at an increased risk because of the unreliability of the software or hardware. The first documented example of this term being used dates to early 1983, when an unnamed banking executive was quoted to have used it in reference to Storage Technology Corporation.By its nature, a proportion of bleeding edge technology will make it into the mainstream. For example, electronic mail (email) was once considered to be bleeding edge.Boies Schiller Flexner LLP
Boies Schiller Flexner LLP is an American law firm founded by David Boies and Jonathan D. Schiller in 1997. In 1999, the founders were joined by Donald L. Flexner, former partner with Crowell & Moring, becoming Boies, Schiller & Flexner.
The firm has become known for its involvement in high-profile litigation, having represented the Department of Justice in the antitrust action United States v. Microsoft, as well as Vice President Gore in the Supreme Court case Bush v. Gore. More recently, Boies successfully challenged the constitutionality of California's Proposition 8 in Perry v. Brown, and represented the National Football League in the antitrust litigation initiated by the players' union. The firm has drawn controversy for its aggressive tactics during representation of Harvey Weinstein amidst sexual abuse allegations and the now-defunct blood testing startup Theranos.Commerce One
Commerce One, Inc. was a B2B e-commerce company that used online auctions to connect business to their suppliers. At the peak of dot-com bubble, the company had a market capitalization of $21.5 billion.The company's technologies included Schema for Object-Oriented XML (SOX), an XML schema technology that influenced the development of the W3C's XML Schema language and the Java Architecture for XML Binding (JAXB).David Boies
David Boies (; born March 11, 1941) is an American lawyer and chairman of the law firm Boies, Schiller & Flexner. He has been involved in various high-profile cases in the United States, including United States v. Microsoft Corp., Bush v. Gore, Hollingsworth v. Perry, representation of Theranos and the defense of Harvey Weinstein against sexual abuse allegations.Elizabeth Holmes
Elizabeth Anne Holmes (; born February 3, 1984) is the founder and former CEO of Theranos, a defunct company known for its false claims to have devised revolutionary blood tests that used very small amounts of blood. In 2015, Forbes named Holmes the youngest and wealthiest self-made female billionaire in America on the basis of a $9 billion valuation of Theranos. By the next year, following revelations of potential fraud, Forbes revised her net worth to zero dollars, and Fortune named Holmes one of the "World's Most Disappointing Leaders".The decline of Theranos began in 2015, when a series of journalistic and regulatory investigations revealed doubts about the company's technology claims, and whether Holmes had potentially misled investors and the government. In 2018, the U.S. Securities and Exchange Commission charged Theranos and Holmes with deceiving investors by "massive fraud" through false or exaggerated claims about the accuracy of her blood-testing technology; Holmes settled the charges by paying a $500,000 fine, returning shares to the company, relinquishing her voting control of Theranos, and being barred from serving as an officer or director of a public company for ten years. In June 2018, a federal grand jury indicted Holmes and former Theranos COO Ramesh Balwani on nine counts of wire fraud and two counts of conspiracy to commit wire fraud for distributing blood tests with falsified results to consumers.The early credibility of Theranos was in part interpreted as an effect of Holmes's personal connections and ability to recruit the support of influential people including Henry Kissinger, George Shultz, James Mattis, and Betsy DeVos. Holmes was in a relationship with her COO Ramesh "Sunny" Balwani, whom she met when she was 18 and he was 37.
Holmes's career, the rise and dissolution of her company, and the subsequent fallout comprise the subject of a book, Bad Blood: Secrets and Lies in a Silicon Valley Startup by the Wall Street Journal reporter John Carreyrou, and an upcoming film directed by Adam McKay and starring Jennifer Lawrence.Gary Roughead
Gary Roughead ( "rough head"; born July 15, 1951) is a former United States Navy officer who served as the 29th Chief of Naval Operations from September 29, 2007 to September 22, 2011. He previously served as Commander, United States Fleet Forces Command, from May 17 to September 29, 2007. Prior to that, Roughead served as the 31st Commander, United States Pacific Fleet from July 8, 2005, to May 8, 2007. He retired from the U.S. Navy after 38 years of service.George Polk Awards
Not to be confused with the George Polk Award that was presented (1948–1973) by the Overseas Press Club of America.The George Polk Awards in Journalism are a series of prestigious American journalism awards presented annually by Long Island University in New York in the United States. A writer for Idea Lab, a group blog hosted on the website of PBS, described the award as "one of only a couple of journalism prizes that means anything".The awards were established in 1949 in memory of George Polk, a CBS correspondent who was murdered in 1948 while covering the Greek Civil War (1946–49). In 2009, former New York Times editor John Darnton was named curator of the George Polk Awards.See list of George Polk Award winners for award recipients.
Josh Marshall's blog, Talking Points Memo, was the first blog to receive the Polk Award in 2008 for their reporting on the 2006 U.S. Attorneys scandal.Gerald Loeb Award winners for Investigative
The Gerald Loeb Award is given annually for multiple categories of business reporting. The "Investigative" category was first awarded in 2013.Goldsmith Prize for Investigative Reporting
The Goldsmith Prize for Investigative Reporting is an award for journalists administered by the Shorenstein Center on Media, Politics and Public Policy at Harvard University. The program was launched in 1991, with the goal of exposing examples of poor government, and encouraging good government in the United States. There is a $25,000 award for the winner.
The Goldsmith Awards Program is financially supported by an annual grant from the Greenfield Foundation.Isabelle Durant
Isabelle A.J. Durant (born 4 September 1954) is a Belgian politician, member of the Ecolo party. She has been serving as Deputy Secretary-General of the United Nations Conference on Trade and Development (UNCTAD) since 2017.Noble cause corruption
Noble cause corruption is corruption caused by the adherence to a teleological ethical system, suggesting that people will use unethical or illegal means to attain desirable goals, a result which appears to benefit the greater good. Where traditional corruption is defined by personal gain, noble cause corruptions forms when someone is convinced of their righteousness, and will do anything within their powers to achieve the desired result. An example of noble cause corruption is police misconduct "committed in the name of good ends" or neglect of due process through “a moral commitment to make the world a safer place to live."Conditions for such corruption usually occur where individuals feel no administrative accountability, lack morale and leadership, and lose faith in the criminal justice system. These conditions can be compounded by arrogance and weak supervision.Noir Désir
Noir Désir (French pronunciation: [nwaʁ deziʁ]) were a French rock band from Bordeaux. They were active during the 1980s, 1990s and early 2000s, and have had two albums certified double platinum in France and three certified gold. They have been an influence on numerous French musicians including Cali, Louise Attaque and Miossec. While active, the band consisted of Bertrand Cantat (vocals, guitar), Serge Teyssot-Gay (guitar), Jean-Paul Roy (bass guitar) and Denis Barthe (drums).Pulitzer Prize for Investigative Reporting
The Pulitzer Prize for Investigative Reporting has been awarded since 1953, under one name or another, for a distinguished example of investigative reporting by an individual or team, presented as a single article or series in print journalism. The Pulitzer Prize is only given to journalists whose works have appeared in US newspapers, drastically limiting the number of journalists and scope of investigative reporting that may be awarded. It is administered by the Columbia University Graduate School of Journalism in New York City.
From 1953 through 1963, the category was known as the Pulitzer Prize for Local Reporting, No Edition Time. From 1964 to 1984, it was known as the Pulitzer Prize for Local Investigative Specialized Reporting.The Pulitzer Committee issues an official citation explaining the reasons for the award.Ramesh Balwani
Ramesh "Sunny" Balwani (born March–June 1965) is the former president and chief operating officer of Theranos, which was a privately held health technology company founded by his then-girlfriend Elizabeth Holmes. Theranos is known for its false claims to have devised revolutionary blood tests that used very small amounts of blood. Starting in 2015–2016, Theranos came under criticism in the media due to its questionable claims and practices. In June 2018, Balwani was under indictment by the United States Department of Justice for fraud and conspiracy. The charges in the criminal indictment stem from allegations that Balwani engaged in a multi-million-dollar scheme to defraud investors, and a separate scheme to defraud doctors and patients.Theranos
Theranos () was a privately held health technology corporation, initially touted as a breakthrough technology company, but subsequently infamous for its false claims to have devised blood tests that only needed very small amounts of blood. Founded in 2003 by then-19-year-old Elizabeth Holmes, Theranos raised more than US$700 million from venture capitalists and private investors, resulting in a $10 billion valuation at its peak in 2013 and 2014. Investors and the media hyped Theranos as a breakthrough in the large blood-testing market, where the U.S. diagnostic-lab industry posts annual sales of over $70 billion. Theranos claimed its technology was revolutionary and that its tests required only about 1/100 to 1/1,000 of the amount of blood that would ordinarily be needed and cost far less than existing tests.
A turning point came in October 2015, when investigative reporter John Carreyrou of The Wall Street Journal questioned the validity of Theranos' technology. The company faced a string of legal and commercial challenges from medical authorities, investors, the U.S. Securities and Exchange Commission (SEC), Centers for Medicare and Medicaid Services (CMS), state attorneys general, former business partners, patients, and others. By June 2016, it was estimated that Holmes' personal net worth had dropped from $4.5 billion to virtually nothing. The company was near bankruptcy until it received a $100 million investment from Fortress Investment Group in 2017. In September 2018, the company ceased operations.
In July 2016, Theranos received sanctions from the CMS, including the revocation of its CLIA certificate and prohibition of Holmes and other company officials from owning or operating a lab for two years. Theranos announced it would close its laboratory operations and wellness centers to work on miniature medical testing machines. In April 2017, Theranos said it had reached a settlement agreement with CMS. Following the CMS sanctions, the Walgreens pharmacy chain terminated its contract with Theranos and filed a lawsuit claiming continuous breaches of contract. The suit was settled out of court, with Theranos compensating Walgreens for a much smaller amount than the claimed $140 million, reported at about $30 million.
On March 14, 2018, Theranos, Holmes, and former company president Ramesh "Sunny" Balwani were charged with "massive fraud" by the SEC. One section of the complaint says Holmes falsely claimed in 2014 that the company had annual revenues of $100 million, a thousand times more than the actual figure of $100,000. Theranos and Holmes agreed to resolve the charges against them, with Holmes paying a fine of $500,000, returning the remaining 18.9 million shares that she held, relinquishing her control of the company, and being barred from being an officer or director of any public company for ten years. According to the agreement, if Theranos were acquired or otherwise liquidated, Holmes would not profit from her ownership until more than $750 million was returned to investors and other preferred shareholders. Theranos and Holmes neither admitted nor denied the allegations in the SEC's complaint. Balwani did not settle. On June 15, 2018, the U.S. Attorney for the Northern District of California announced the indictment of Holmes on wire fraud and conspiracy charges. Balwani was also indicted on the same charges.Theranos ceased operations on August 31, 2018, with CEO David Taylor and a few support staff remaining on payroll for a few more days.Tim Draper
Timothy Cook Draper (born June 11, 1958) is an American venture capital investor, and in 1985, the founder of the firm that would become Draper Fisher Jurvetson (DFJ). He also founded Draper Associates and Draper University. In July 2014, Draper received wide coverage for his purchase at a US Marshals Service auction of seized bitcoins from the Silk Road marketplace website. He also spent in excess of $5 million to push a ballot initiative to divide California into three smaller states, which has met the signature threshold but was removed from the ballot by a decision in the Supreme Court of California.