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Elizabeth Holmes found guilty

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Re: Elizabeth Holmes found guilty

#31

A $100 million wire transfer. Is this literally how people invest in start-ups, just wiring huge sums of money to someone they do not know , on a promise/hope. that just seems so reckless on so many levels

Nobody invests large amounts in someone they do not know; that's why connections and introductions were a key element of the case.

Re: Elizabeth Holmes found guilty

#32
post #10

It looks like Balwani's trial is scheduled for next year - is there any reason why they would have the two trials so far apart? Is this common in cases such as these?

One reason is that if this trial ended in not guilty on all counts they would be unlikely to prosecute a successful case against Balwani. they have a stronger hand now and Balwani may choose a plea deal before trial now, which the prosecution may accept due to today's result.

Re: Elizabeth Holmes found guilty

#33

A $100 million wire transfer. Is this literally how people invest in start-ups, just wiring huge sums of money to someone they do not know , on a promise/hope. that just seems so reckless on so many levels

There is usually a contract stipulating details, but yes, VCs tend to use banks

Re: Elizabeth Holmes found guilty

#35
post #28

This will sound weird but I am a collector of swag from large companies that have collapsed due to anything from mismanagement to outright fraud. While we're a rare breed there are others like me out there. Still, even with this oddly specific marketplace being small, let me tell you, the Theranos swag market is hot right now (check eBay if you're curious). Wish I had gone big on this one earlier, because I have a fe…

What a super interesting niche. Do you see returns on your investments?

They said collector, so I suspect they aren't holding to sell :P

Re: Elizabeth Holmes found guilty

#36

This will sound weird but I am a collector of swag from large companies that have collapsed due to anything from mismanagement to outright fraud. While we're a rare breed there are others like me out there. Still, even with this oddly specific marketplace being small, let me tell you, the Theranos swag market is hot right now (check eBay if you're curious). Wish I had gone big on this one earlier, because I have a fe…

One of my biggest regrets is not getting a Kozmo messenger bag from dotcom 1.

Re: Elizabeth Holmes found guilty

#37
post #16

A $100 million wire transfer. Is this literally how people invest in start-ups, just wiring huge sums of money to someone they do not know , on a promise/hope. that just seems so reckless on so many levels

Hey, minus the $16 wire-transfer fee. Fair is fair; that’s what I pay, too.

I laughed at that. Apparently the wire transfer fee part is the money is free and clear!!!

Re: Elizabeth Holmes found guilty

#39
post #8

Earlier quoted context omitted.

Apparently the "No verdict" might get declared a mistrial on 3 counts. For those unaware John Carreyrou played a major role in exposing Holmes. His book is a good read: Bad Blood and host of Bad Blood: The Final Chapter https://twitter.com/JohnCarreyrou/status/1478158063379042304 > And the judge will probably declare a mistrial as to the 3 counts they couldn’t reach consensus on. > The 4 guilty counts are all investo…

Why would a mistrial be declared? Does that prevent a future prosecution of these charges?

[deleted]

Re: Elizabeth Holmes found guilty

#40
It blows my mind that she was found guilty for defrauding investors, but not guilty for defrauding patients about their test results.

Investors know that every dollar they put into a company could disappear, it's why startups get capital from investors and not bank loans.

But a patient does not expect for their blood test results to be completely wrong. Her tests weren't giving false-negatives or false-positives, they were using lab techniques that we have known to be inaccurate for decades. She knowingly sold Walgreens on 1 test, and then performed a different test.

I need to sit down and properly inform myself about how the prosecutors fucked that up so badly.

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