Don't forget people have invested in uBeam which was known to be peddling something scientifically impossible. The only possible explanation for that, and truth be told Theranos too is the investors are playing a Ponzi scheme where later rounds are the ones holding the bag. It's an excellent question who should be suing who.
Major Investor Sues Theranos
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Re: Major Investor Sues Theranos
#92Odd coincidence (or maybe not) that the father of the founder, Elizabeth Holmes, worked at Enron (per wikipedia).
Heh, I imagine a Bring Your Child To Work Day @ Enron.
PR: "And this, kids, is our Fraud, Swindle & Embezzlement Department"
Kids: "the fuck does that mean"
PR: "Well, this is the magical place where we figure out how to steal other people's money. "
Kids: "Oooooooh, magical? But wait... isn't that bad?"
PR: "Free pizza & pop for everyone!!"
Kids: "Yaaaaaay!"
Re: Major Investor Sues Theranos
#93One thing I find really weird is the choice of CEO photos in media reporting. If there is good news, they chose 'nice', attractive photos. If there is bad news, they look for worse ones. This is true for male and female founders. In this case, everything about this photo is an 'outtake', from hands, choice of framing, facial expression, eyes - it's a photo a photographer would not keep in their image selection.
normies read news from Facebook and need a feed cover image to click on articles
Re: Major Investor Sues Theranos
#94Earlier quoted context omitted.
The fact that Madoff's intent was criminal from the outset and that Holmes' probably wasn't is irrelevant. The point is that it became criminal. And that's why she's in the firing line today.
At what point did she shift from being an optimistic entrepeneur to a criminal? Was it when she started getting magazine covers? Was it when Hwnry Kissinger joined the board of directors? She's still giving her company 110% in spite of everything that has transpired. Usually the correct time for a startup founder/CEO to call it quits is when they run out of capital, until then it's their job to try and make it work c…
When diagnostic medicine was being conducted with technology she knew wasn't what it was claimed to be. We threw the Enron guys in prison and they only hurt people's wallets, not their health. I don't think she gets off the hook because she's a Sillicon Valley sweetheart.
Re: Major Investor Sues Theranos
#95Earlier quoted context omitted.
Implying that once outside of the "mainstream" journalistic integrity suddenly improves? Nonsense.
Implying that staying inside the "mainstream" journalistic integrity suddenly improving is a false assumption. I don't know that I agree with it, but it's a valid opinion to have that mainstream is no better than elsewhere.
I addressed someone's implication, I didn't offer one of my own.
Re: Major Investor Sues Theranos
#96Isn't her activity like the textbook definition of fraud? Not to mention the dude who she basically pushed into committing suicide. I hope she gets at least as much time as Madoff.
What Madoff did was illegal and malicious from the outset. Do you believe that when Holmes was handed the opportunity, at 19, to bring the Edison to market that she set out with the intent of defrauding investors? The only thing she's provably guilty of thus far is believing in her company a little more than is sensible and being preternaturally competent as a fundraiser. When Musk claims he can get people to Mars fo…
How do you know that Madoff was malicious from the outset, I wonder? The guy had a 30 year career, have you studied his beginnings? Maybe you did, but knowing nothing I'd find it more plausible that the guy started small fudging a couple of numbers hoping the next year would be better and eventually snowballed out of control.
Re: Major Investor Sues Theranos
#97Earlier quoted context omitted.
The fact that Madoff's intent was criminal from the outset and that Holmes' probably wasn't is irrelevant. The point is that it became criminal. And that's why she's in the firing line today.
At what point did she shift from being an optimistic entrepeneur to a criminal? Was it when she started getting magazine covers? Was it when Hwnry Kissinger joined the board of directors? She's still giving her company 110% in spite of everything that has transpired. Usually the correct time for a startup founder/CEO to call it quits is when they run out of capital, until then it's their job to try and make it work c…
Basically, when she said "our machines, which we have already deployed in production and doctors are using them to make potentially life/death decisions, can do X". At that point.
Re: Major Investor Sues Theranos
#98Earlier quoted context omitted.
> "disingenuous" or "biased" or "unethical" Mainstream journalism will also do just fine.
Implying that once outside of the "mainstream" journalistic integrity suddenly improves? Nonsense.
But it does. We (readers here, you, me, etc) are far outside of mainstream at this news site, HN, and journalistic standards are much higher. When you go from default subreddits to niche ones, the journalidtic integrity improves substantially. Yes, yes, once outside the mainstream, integrity suddenly improves, across the board.
Re: Major Investor Sues Theranos
#99Earlier quoted context omitted.
Implying that once outside of the "mainstream" journalistic integrity suddenly improves? Nonsense.
But it does. We (readers here, you, me, etc) are far outside of mainstream at this news site, HN, and journalistic standards are much higher. When you go from default subreddits to niche ones, the journalidtic integrity improves substantially. Yes, yes, once outside the mainstream, integrity suddenly improves, across the board.
We're not journalists, this is not a journalistic outlet.
Re: Major Investor Sues Theranos
#100If you read the interviews of a lot of investors, many of them mention they invested because they believed so strongly in the founder. Afterwards, when their crazy concept works (example: Musk with SpaceX), these founders are lauded a visionary. When their concept fails (as is the case with Homles and Theranos), these founders are branded a fraudster.