{ "media_type": "image", "post_content": "Olive folks - is the buzz true? How are y’all handling this internally? On next stage of interviews and this seems to be adding to the 🔥 I’m seeing posted on fishbowl, do I reconsider? https://www.axios.com/pro/health-tech-deals/2022/04/05/4-billion-health-tech-startup-olive-overpromises-and-underdelivers", "post_id": "624cb854ce61ee002a3ee4f4", "reply_count": 38, "vote_count": 22, "bowl_id": "5aaaf7afc22dc30013dfee81", "bowl_name": "Healthcare Consultants", "feed_type": "bowl" }
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I don’t have an inside look, but I have long suspected this situation due to rumblings from my clients and folks I know in the industry.

On one hand, there is not much in this article that is so different than a poorly scoped and underdelivered performance improvement project in consulting. It is based on 16 interviews which to me is not exactly comprehensive and could be a handful of disgruntled clients and ex employees, one could find 16 of those to speak negatively on any consulting firm.

On the other, Olive claims to be something truly different and industry changing and I do not believe it is (at least not yet).

For me the question is, does it have enough funding runway and support to fake it till they make it?

likesmart

Former Olive, but this is 100% true. I’m glad it’s coming out. I was wondering why Sean Lane was giving interviews recently. Clearly a PR tour to proactively smooth some of these points over in advance of the article.

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The next theranos?

likesmart

I am ex Olive and can confirm accuracy. Glad someone is making this visible.

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I would agree with the above. I have serious concerns about the company and this article further emphasizes the pain points we are seeing internally.

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They corrupted clinical data in epic too. Caused a huge problem for the health system and epic who couldn't get the data back.

So yeah. This is the tip of the iceberg

likesmarthelpful

^^ def not Olive’s legal dept

funnylike

I worked with a large org operationally (as a consultant, but working alongside analysts & supervisors) for a year and truly I have never seen a less competent team than the one that Olive sent.

Couldn’t get basic things right with their tool (i.e., pulling info from the HIS) and didn’t seem to understand what they were supposed to do.

Not terribly surprised by these interviews - it’s a nice idea but in practice it’s not gone well.

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I’ve also heard this. I’m sure there’s plenty of examples. I can’t confirm or deny how true but one thing was certain, the client was less than impressed.

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My clients are not impressed. There are good people that work there who were sold on an idea and a lot of investment backing/equity.

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Bigger question is how the hell they raised $400m+ in capital.

Is it the Johnny Cash all black outfit the CEO wears that mesmerizes investors?

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They went with the mantra that lies can sell and selling raises capital. Lots of Olive people getting rich while the health systems they sell into come up short on the made up ROI.

likesmart

Does this apply to similar startups?

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Not all startups are created equal. I think it depends on the culture and incentives driven by leaders. Sounds like Olive wanted to grow at all costs and their sellers have been incentivized to make that happen with total disregard of their clients and the Olive people responsible for actually building automations. Very bad look.

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Company is full of ex-Huron and tech bros. It’s not a matter of if they crash and burn but when.

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I listened to the ceo speak for like 5 minutes, and a brief pitch from some of the douchiest former colleagues I’ve had (more about options and strike prices than what olive was doing) to know it wasn’t for me.

That said, the people i know who went over were pretty successful at places like huron and epic so a little surprised they bet on such a bad horse.

Behind a pay wall, can anyone provide a summary

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I've been wondering about them for a while now. I'm trying to avoid this being a "confirmation bias" for me, but it's pretty difficult given the things I've heard from others.

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Frauds

Is there a version of this article without a paywall?

Pi comment was straight from the CEO, what a joke

Having seen similar situations, was there a down round or are they trying to manage against an upcoming down round?

That seems to be when more questionable issues can pop up.

I wouldn’t trust leadership. Track record is muddy

Definite down round

Current or previous but I went through a down round and before the next one it got dirtier and fraud checks went from bare minimum to zero

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