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Theranos Executive to Depart Amid Regulatory Probes

wsj.com

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Re: Theranos Executive to Depart Amid Regulatory Probes

#71

Post by partisan »

ble wrote: post #26
markk wrote: post #15

Earlier quoted context omitted.

We know that money is not a great thing to measure to ascertain happiness, so I feel her bank account is irrelevant. And compassion is not a finite resource.

Huh, under your logic, is there any amount of misconduct that Holmes could commit (which might harm others, including harm through being misled) that would make you feel more compassion for those harmed or potentially harmed? If you want to apply Buddhist ethics to influential people misusing their power, uh, I guess I follow what you're trying to do, but it seems cray-cray to me.

Just for the sake of discussion, is it possible to have compassion for the victimizer and the victim? Is there a way to quantify compassion such that you are able to assure yourself that you have given a proper amount to the person who has been wronged?

Re: Theranos Executive to Depart Amid Regulatory Probes

#72

Post by forgetsusername »

mathattack wrote: post #47
rconti wrote: post #8

"Mr. Balwani, the Journal reported, told them in an email, “I am extremely irritated and frustrated by folks with no legal background taking legal positions and interpretations on these matters.” He wrote, “This must stop.” He then ordered the employees to only report to the accrediting organizations results from proficiency tests performed on conventional devices, and not the results of those tests obtained from the…

It's a shame that their problems stem first from lying to investors, rather than to regulators and consumers.

>It's a shame that their problems stem first from lying to investors

From what I know about money men, I'm not so sure that some investors weren't aware, or at the very least turned a blind eye. I certainly don't think they're all innocent.

Re: Theranos Executive to Depart Amid Regulatory Probes

#73

Post by mathattack »

forgetsusername wrote: post #72
mathattack wrote: post #47

Earlier quoted context omitted.

It's a shame that their problems stem first from lying to investors, rather than to regulators and consumers.

> It's a shame that their problems stem first from lying to investors From what I know about money men, I'm not so sure that some investors weren't aware, or at the very least turned a blind eye. I certainly don't think they're all innocent.

I don't know the financiers enough to comment on what they know. Sending the SEC after Theranos seems similar to sending the IRS after Al Capone.

Re: Theranos Executive to Depart Amid Regulatory Probes

#75

Post by jo6gwb »

mathattack wrote: post #45
Animats wrote: post #14

So Balwani has been thrown to the wolves.[1] Who's next? [1] http://digitalcommons.unl.edu/cgi/viewcontent.cgi?article=27...

Thrown to the wolves? Sounds like he was deserving to be sacrificed.

The article clearly states: "Mr. Balwani isn’t being blamed for the company’s regulatory problems."

Re: Theranos Executive to Depart Amid Regulatory Probes

#76

Post by [deleted] »

rconti wrote: post #8

"Mr. Balwani, the Journal reported, told them in an email, “I am extremely irritated and frustrated by folks with no legal background taking legal positions and interpretations on these matters.” He wrote, “This must stop.” He then ordered the employees to only report to the accrediting organizations results from proficiency tests performed on conventional devices, and not the results of those tests obtained from the…

[deleted]

Re: Theranos Executive to Depart Amid Regulatory Probes

#77

Post by dhimes »

Kristine1975 wrote: post #69
DanBC wrote: post #67

Earlier quoted context omitted.

Maybe not fraud, but the recklessness is pretty staggering. I wonder who's writing the movie script?

How about this guy: https://news.ycombinator.com/item?id=11523822

Thanks for linking that. I had missed it. It's hilarious!

Re: Theranos Executive to Depart Amid Regulatory Probes

#79

Post by nihonde »

wsc981 wrote: post #64
nihonde wrote: post #41

Earlier quoted context omitted.

I like Alain de Botton's take: money and status are essentially a proxies for love, in that people feel worthwhile if others "pay" attention/respect/cash to them. (Heavily paraphrased) Now consider that Buddhist monks are forbidden from handling money, preparing their own food, and are willingly entirely dependent on the charity of others. It is a kind of self-imposed poverty that demonstrates how much a person can a…

It's a bit off-topic, but in a way being a Buddhist monk is a very selfish lifestyle. You don't have to take care of yourself, society will take care of you. You don't contribute much to society apart from perhaps some religious services. In my opinion it's not a good way of life.

"Monks" are not one, monolithic community, so it's hard to argue one way or another whether they contribute anything meaningful back to a community. Here in Japan, many Buddhist orders are downright wealthy (from donations), and use their considerable resources to preserve traditions and history. I doubt that you can put a dollar value on the benefits of keeping cultural history alive. In a sense, it's not too much different from the function of the Metropolitan Museum in New York. Of course, Buddhism is a many-facted religion that manifests differently in different places.

Re: Theranos Executive to Depart Amid Regulatory Probes

#80

Post by dekhn »

barhum wrote: post #57

She said the following a while back: "I think that the minute that you have a backup plan, you've admitted that you're not going to succeed." I bet she wishes she had a backup plan now... http://www.inc.com/deborah-petersen/elizabeth-holmes-avoid-b...

Their backup plan was already executed: they switched from their testing methodology to acting as a service provider for somebody else's testing methodology (http://www.businessinsider.com/bill-maris-explains-why-gv-di... """So, we just had someone from our life-science investment team go into Walgreens and take the test. And it wasn't that difficult for anyone to determine that things may not be what they seem here."

That employee found that when he went to get a test done, Theranos wanted more than just a drop of blood in one of its "nanotainers." He denied a full venous blood draw, and ended up getting called back a week later because they wanted him to give more blood.""")

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