Elizabeth Holmes urged employees to hide Theranos’ lab equipment from inspectors

Post by smart_creature » Wed, Sep 29, 2021, 4:17 PM UTC

akshayB wrote: post #5

encryptluks2 wrote: post #2

If 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…

Post by avalys » Wed, Sep 29, 2021, 4:19 PM UTC

munificent wrote: post #74

photochemsyn wrote: post #29

The crazy thing about Theranos is that so many people with experience in microfluidics (developed mainly for DNA sequencing although there are other uses) knew that their claims were impossible, technologically speaking. Working with such small volumes to obtain quantitive estimates of blood chemistry is so implausible, as you are introducing uncontrollable variability - micro-evaporation, even tissue localization is…

> What just amazed me is how gullible all the investors were, and how they didn't do due diligence, hire outside experts, or anything. Weird. The thing is, the primary goal of an investor is not to invest in companies that are honest and actually do what they claim. The goal is to invest in a company that reaches a valuation high enough to let them recoup their investment at a profit. If that valuation happens throug…

Post by hef19898 » Wed, Sep 29, 2021, 4:22 PM UTC

avalys wrote: post #83

munificent wrote: post #74

Earlier quoted context omitted.

> What just amazed me is how gullible all the investors were, and how they didn't do due diligence, hire outside experts, or anything. Weird. The thing is, the primary goal of an investor is not to invest in companies that are honest and actually do what they claim. The goal is to invest in a company that reaches a valuation high enough to let them recoup their investment at a profit. If that valuation happens throug…

Can you provide any examples of a high-profile company, ultimately shown to be dishonest, where the early investors were able to “cash out” before this dishonesty became known?

Post by ta1234567890 » Wed, Sep 29, 2021, 4:24 PM UTC

avalys wrote: post #83

munificent wrote: post #74

Earlier quoted context omitted.

> What just amazed me is how gullible all the investors were, and how they didn't do due diligence, hire outside experts, or anything. Weird. The thing is, the primary goal of an investor is not to invest in companies that are honest and actually do what they claim. The goal is to invest in a company that reaches a valuation high enough to let them recoup their investment at a profit. If that valuation happens throug…

Can you provide any examples of a high-profile company, ultimately shown to be dishonest, where the early investors were able to “cash out” before this dishonesty became known?

Post by moftz » Wed, Sep 29, 2021, 4:24 PM UTC

jcrites wrote: post #67

MattGaiser wrote: post #45

Earlier quoted context omitted.

The problem is that successful startups often start out claiming that which is impossible. Uber was impossible, because it was illegal. Amazon was impossible, as you couldn't pack and ship stuff that cheaply. Personal computers were at one point considered ludicrous.

Uber was not generally illegal [0]. So called “Black car” (or private car for hire) services (so called because these cars used to be limousine like vehicles but now can be anything, e.g. UberX) where a driver arranges pickup with a passenger in advance — which is how Uber started - is not regulated in most cities at all, or is regulated very differently than taxis. What legally distinguishes taxis and requires medal…