I have been in this exact place before. For the two of them, this day will be just about the worst of their lives. This is ordinarily when hard-core criminals are taken into custody. If their experience was like mine, they had to show up in front of a magistrate with their lawyers, plead not guilty, then go to a dungeon for about 30 minutes while they get handcuffed, fingerprinted, mugshotted, and DNA-swabbed. Then,…
What? Not a ounce of sympathy. What about the people they defraud and harassed on a daily basis to keep up the fraud?
I have been in this exact place before. For the two of them, this day will be just about the worst of their lives. This is ordinarily when hard-core criminals are taken into custody. If their experience was like mine, they had to show up in front of a magistrate with their lawyers, plead not guilty, then go to a dungeon for about 30 minutes while they get handcuffed, fingerprinted, mugshotted, and DNA-swabbed. Then,…
This is ordinarily when hard-core criminals are taken into custody. It's basically like being free, but you have to stay out of trouble and report all contacts with law enforcement. There's a small chance they'll have to go this route anyway, since the government can snatch the money They're not going to have to serve consecutive 20-year terms for what they're accused of Holmes will be offered, I'm guessing, about 6-…
> Quite an interesting contrast between what privileged rich people have to worry about vs poor
This is speculation. Let’s wait to see what is handed down. It was common thought on these forums just weeks ago that money and connections would buy Holmes out of an indictment.
For reference, here's the very first HN submission about Theranos in 2013: https://news.ycombinator.com/item?id=6349349
Interesting. Skinming through the comments, very little criticism, everyone in awe. Only way down there is someone stating how hard it is to get regulatory approval. I guess that‘s HN still in full fanboy mode, before all those startups started to display their dark sides.
I don't see any fanboyism; I see interest, and surprise at the composition of the board. A bit down, I see strong criticism by medman77, who hasn't been downvoted.
Between this and Manafort being sent to jail, what a wonderful day for the DOJ. God I love this country so much.
The American Criminal Justice system rightly faces many criticisms, especially serious charges for being used against minorities. But yes, knowing that even the most powerful person in the country is not above the law and can and is prosecuted seriously, and that scammers like Holmes and Balwani are made to pay for their crimes.... this kind of thing is certainly what makes the US unique among nations.
> this kind of thing is certainly what makes the US unique among nations.
Here are a few other countries where powerful people have been arrested in recent history:
I have been in this exact place before. For the two of them, this day will be just about the worst of their lives. This is ordinarily when hard-core criminals are taken into custody. If their experience was like mine, they had to show up in front of a magistrate with their lawyers, plead not guilty, then go to a dungeon for about 30 minutes while they get handcuffed, fingerprinted, mugshotted, and DNA-swabbed. Then,…
This is ordinarily when hard-core criminals are taken into custody. It's basically like being free, but you have to stay out of trouble and report all contacts with law enforcement. There's a small chance they'll have to go this route anyway, since the government can snatch the money They're not going to have to serve consecutive 20-year terms for what they're accused of Holmes will be offered, I'm guessing, about 6-…
The most recent true crime documentary series on Netflix, 'The Staircase,' talks about this. The defendant, a wealthy individual, ends up paying around $750,000 out of pocket for his defense. He asks the question what this would have looked like if he was poor.
The American Criminal Justice system rightly faces many criticisms, especially serious charges for being used against minorities. But yes, knowing that even the most powerful person in the country is not above the law and can and is prosecuted seriously, and that scammers like Holmes and Balwani are made to pay for their crimes.... this kind of thing is certainly what makes the US unique among nations.
Let's not get carried away. Canada and many if not all of the nations of the EU have a similar capability. The US justice system sucks, let's not endow it with special "uniqueness". However, I am happy that corporate criminals are facing some penalties for their activities that could harm the public. EDIT: Also, just because after waiting years and years, we see one or two criminal executives go through the Justice s…
> the US justice system sucks, let's not endow it with special "uniqueness"
The rule of law, where elites fear the law and not a ruler, is in the minority today and across human history. I certainly think it’s something to celebrate.
> From what I have heard in interviews they started with the thought "Doing xxx would be super useful" but didn't have an approach for accomplishing this but instead took in money and tried to figure it out. So, just like most VC favorite startups?
I've been involved with many vc funded startups and have never encountered a situation where nobody knows how to achieve the core product vision. Nobody knows how to achieve profitability...sure.
The only one that comes to mind is Magic Leap. They could blow up like Theranos.
Between this and Manafort being sent to jail, what a wonderful day for the DOJ. God I love this country so much.
The American Criminal Justice system rightly faces many criticisms, especially serious charges for being used against minorities. But yes, knowing that even the most powerful person in the country is not above the law and can and is prosecuted seriously, and that scammers like Holmes and Balwani are made to pay for their crimes.... this kind of thing is certainly what makes the US unique among nations.
it is also what makes this country great. not that someone like Trump understand that. For a society to function harmoniously, it must believe that their society is just, and that those who commit crimes will face justice, whether its pusher on the street, or the President of the United States, and that, not only will justice be served, but clemency granted in equitable fashion when so deserved.
> From what I have heard in interviews they started with the thought "Doing xxx would be super useful" but didn't have an approach for accomplishing this but instead took in money and tried to figure it out. So, just like most VC favorite startups?
I've been involved with many vc funded startups and have never encountered a situation where nobody knows how to achieve the core product vision. Nobody knows how to achieve profitability...sure.