In recent months, medical testing company Theranos has been slammed by media reports and federal inspections that say its blood testing devices don’t work. Amid the revelations, the company’s president stepped down, Theranos voided or corrected tens of thousands of blood test results, and Walgreens dumped its arrangement. Theranos now faces hefty federal sanctions, criminal charges, and several lawsuits from ex-customers. It has seen its valuation drop from $9 billion to just $800 million.

Still, “nothing’s gone wrong with Theranos,” according to ground-floor investor Tim Draper.

In a Thursday interview with Bloomberg, Draper accused competitors and others of unfairly drumming up negative publicity and excessive scrutiny on Theranos and its founder and CEO, Elizabeth Holmes. “Theranos is being attacked by the powers that be in big pharma, in [Holmes’] competitors, in the world of medical insurance, the people in government who are going to be very much affected by a really cheap, really effective, wonderful solution,” he said. Those attacks echo “the way Uber was being attacked by the taxi drivers and Bitcoin was attacked by the banks,” he explained.

Instead of those negative reports, he argued, people should focus on what Theranos is doing for consumers. They "love" the company, he added, despite the fact that thousands of consumers have had their blood test results—results that may have led to incorrect treatments—corrected or voided. And several consumers have filed lawsuits seeking class-action status against Theranos.

Nevertheless, Draper is unshaken, possibly because of his long history with Theranos. According to The Wall Street Journal, his daughter was a childhood friend of Holmes. And Draper, founder of the venture capital firm Draper Fisher Jurvetson, gave Holmes the first million in seed money to start Theranos when she dropped out of Stanford University in 2003 at the age of 19. Since then, the company raised at least $750 million from investors.

All was going well for Theranos until digging from Wall Street Journal reporter John Carreyrou last fall uncovered problems with the company’s blood testing device, code-named Edison. The machine was said to be able to run more than 200 medical tests using just a few drops of blood from finger-pricks. But Carreyrou's stories revealed that only one Edison test had been approved by federal regulators, and the company didn't use the machines for most others.

In Thursday's interview, Draper implied Carreyrou should get fired for the coverage, saying: “I hope eventually whoever is pulling the wires for the guy at The Wall Street Journal—I hope they finally cut his wires.”

To Draper’s likely dismay, Carreyrou’s coverage of the troubled company is set to be made into a movie, with Jennifer Lawrence taking on the role of Holmes.