Elizabeth Holmes urged employees to hide Theranos’ lab equipment from inspectors
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Re: Elizabeth Holmes urged employees to hide Theranos’ lab equipment from inspectors
#2If anyone truly deserves a very long prison sentence it is Elizabeth Holmes. I think we're about to confirm what we've always known and that has been apparent since the start of this case. That rich white people, even if they got their money by taking advantage of others are pretty immune from harsh punishment in the criminal justice system.
Re: Elizabeth Holmes urged employees to hide Theranos’ lab equipment from inspectors
#3The problem is that none of this will work against her defense, that she was not of sane state of mind at the time.
Re: Elizabeth Holmes urged employees to hide Theranos’ lab equipment from inspectors
#4The problem is that none of this will work against her defense, that she was not of sane state of mind at the time.
Western society is way too tolerant of certain kinds of mental illness, such as sociopathy/psychopathy, and intolerant of others (e.g. anxiety/depression).
Re: Elizabeth Holmes urged employees to hide Theranos’ lab equipment from inspectors
#5If anyone truly deserves a very long prison sentence it is Elizabeth Holmes. I think we're about to confirm what we've always known and that has been apparent since the start of this case. That rich white people, even if they got their money by taking advantage of others are pretty immune from harsh punishment in the criminal justice system.
I can't recall last time a C-level company executive get into trouble for using deceptive tactics, every S&P500 company does this to some extent. When they get caught, in majority of cases it is a gentle slap on the wrist or given more of a timeout and reallocation of their position. Also unfortunately using public money and delivering a bad product is not a criminal offense, more like being sloppy at what you do. With big lawyers involved she might get sometime in a fancy hotel like prison or some restrictions on trading stock or fundraising.
Re: Elizabeth Holmes urged employees to hide Theranos’ lab equipment from inspectors
#6If anyone truly deserves a very long prison sentence it is Elizabeth Holmes. I think we're about to confirm what we've always known and that has been apparent since the start of this case. That rich white people, even if they got their money by taking advantage of others are pretty immune from harsh punishment in the criminal justice system.
I can't recall last time a C-level company executive get into trouble for using deceptive tactics, every S&P500 company does this to some extent. When they get caught, in majority of cases it is a gentle slap on the wrist or given more of a timeout and reallocation of their position. Also unfortunately using public money and delivering a bad product is not a criminal offense, more like being sloppy at what you do. Wi…
Re: Elizabeth Holmes urged employees to hide Theranos’ lab equipment from inspectors
#7Earlier quoted context omitted.
I can't recall last time a C-level company executive get into trouble for using deceptive tactics, every S&P500 company does this to some extent. When they get caught, in majority of cases it is a gentle slap on the wrist or given more of a timeout and reallocation of their position. Also unfortunately using public money and delivering a bad product is not a criminal offense, more like being sloppy at what you do. Wi…
https://en.wikipedia.org/wiki/Enron_scandal
Maybe it's time for a new SOX moment.
Re: Elizabeth Holmes urged employees to hide Theranos’ lab equipment from inspectors
#8The modern wisdom, "fake it till you make it", requires you to make it, otherwise you'll pay for lying to us.
Re: Elizabeth Holmes urged employees to hide Theranos’ lab equipment from inspectors
#9Earlier quoted context omitted.
I can't recall last time a C-level company executive get into trouble for using deceptive tactics, every S&P500 company does this to some extent. When they get caught, in majority of cases it is a gentle slap on the wrist or given more of a timeout and reallocation of their position. Also unfortunately using public money and delivering a bad product is not a criminal offense, more like being sloppy at what you do. Wi…
https://en.wikipedia.org/wiki/Enron_scandal
The point I am trying to make is way things work in US, most likely C-levels and high level officials of companies get away with it. I am sure there are cases when folks got into trouble. Apple had Antennagate for one of the iphones and even with a class-action lawsuit people got like $15 reimbursement. For these huge companies in most of the time amount of fines are more like margin of error in accounting spreadsheet.
Re: Elizabeth Holmes urged employees to hide Theranos’ lab equipment from inspectors
#10If anyone truly deserves a very long prison sentence it is Elizabeth Holmes. I think we're about to confirm what we've always known and that has been apparent since the start of this case. That rich white people, even if they got their money by taking advantage of others are pretty immune from harsh punishment in the criminal justice system.
I can't recall last time a C-level company executive get into trouble for using deceptive tactics, every S&P500 company does this to some extent. When they get caught, in majority of cases it is a gentle slap on the wrist or given more of a timeout and reallocation of their position. Also unfortunately using public money and delivering a bad product is not a criminal offense, more like being sloppy at what you do. Wi…
> According to the indictment, the defendants also allegedly made numerous misrepresentations to potential investors about Theranos’s financial condition and its future prospects. For example, the defendants represented to investors that Theranos conducted its patients’ tests using Theranos-manufactured analyzers; when, in truth, Holmes and Balwani knew that Theranos purchased and used for patient testing third party, commercially-available analyzers. The defendants also represented to investors that Theranos would generate over $100 million in revenues and break even in 2014 and that Theranos expected to generate approximately $1 billion in revenues in 2015; when, in truth, the defendants knew Theranos would generate only negligible or modest revues in 2014 and 2015.
https://www.justice.gov/usao-ndca/us-v-elizabeth-holmes-et-a...
If that's not fraud, what is?