Vinod Khosla, the billionaire Sun Microsystems founder and venture capitalist, is today leading a $24.5 million financing of a whimsically named diagnostic company, Two Pore Guys, that he says could fulfill a long-held goal: making the blood test business more like the software industry.
Wait, didn’t we just hear this story? The field of diagnostics just had one of its most dramatic scandals in Theranos, which was valued at $9 billion by its investors, who then saw that evaluation evaporate in a cloud of vaporware and scandal. Part of the problem, many VCs have said, is that diagnostics is just a tough business. But Khosla, the founder of Khosla Ventures, insists Two Pore Guys, which utilizes a technology called a nanopore to detect chemicals with high sensitivity, is the real deal.