Theranos was a healthcare startup commanding a $9 billion valuation before enquiring minds discovered its technology to perform lab tests from finger pricks instead of test tubes didn't actually work.
Today's Wall Street Journal introduces the latest excess in healthcare startup financing, a Chicago firm called Outcome. What do they do? Outcome installs monitors and tablets in physician offices so they can sell pharmaceutical ads targeting waiting patients to drug companies. Perhaps there's less technical risk than Theranos, but the article suggests a similar level of hubris among Outcome and its investors – they're currently valuing the company at $5.5 billion.