Question: could Holmes have avoided all of this by pivoting to something else and not losing investors money. It is extremely common for startups to exaggerate their tech just to later pivot to something else without any repercussions.
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Elizabeth Holmes found guilty
121–130 of 1001 posts
Re: Elizabeth Holmes found guilty
#122why are the charges "wire fraud" and not just "defrauding investors" ?
is there some technicality at play here?
Re: Elizabeth Holmes found guilty
#123This 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…
Got any Clinkle swag?
Re: Elizabeth Holmes found guilty
#124Earlier quoted context omitted.
Did Theranos blood test work?
My understanding is that it worked in the sense that the results were accurate. But the results were gotten by means other than what the investors/customers thought. So the end-user patients really had no claim since they got correct results. But the companies and investors got scammed bigtime.
They appear to have used commercial equipment for some of their tests, but they appear to have diluted sample until the results were no longer valid.
Here's one report on an invalid pregnancy test:
https://www.theverge.com/2021/9/21/22687026/theranos-patient...
Re: Elizabeth Holmes found guilty
#125Earlier quoted context omitted.
Did Theranos blood test work?
My understanding is that it worked in the sense that the results were accurate. But the results were gotten by means other than what the investors/customers thought. So the end-user patients really had no claim since they got correct results. But the companies and investors got scammed bigtime.
This is wrong. I read Bad Blood by John Carreyrou a few years ago and it mentions there were a lot of false results due to mishandling the blood samples (watering them down to run enough tests etc). I recommend the book if you're interested in the case.
Re: Elizabeth Holmes found guilty
#126This 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…
Along these lines an old investor I knew kept a framed Bre-X share on his wall.
The whole bre-x saga really amazes some Americans when I explain the depths of fraud that have historically existed in AB and BC small cap mining stocks...
For the longest time the historical Vancouver stock exchange, vsx, was known as something like the fraud capital of North America.
All of that is before we even get into the ugly history of some Canadian mining companies that have got into bed with non-democratic regimes in places in the developing world, where they did actually have a real mineral resource to extract, and damn the consequences.
Re: Elizabeth Holmes found guilty
#127Time to kibitz on the likely sentence! You can get the federal sentencing guidelines here: https://www.ussc.gov/sites/default/files/pdf/guidelines-manu... They're long and mostly not relevant except for the sections pertaining to Holmes conduct. Here's the indictment: https://www.justice.gov/usao-ndca/page/file/1135066/download Holmes was found guilty of one 18 USC 1349 charge, and 3 18 USC 1343 charges; the 1343's s…
Does multiple counts served concurrently mean that the effective sentence is just the longest individual sentence?
Also: I'm seeing from various websites that the maximum time-left-to-serve for minimum security (federal prison camp) is 10 years, but nothing definitive - [1] is the most in-depth but only specifies this requirement for male prisoners, whereas other requirements are clearly distinguished between male and female.
[1] https://alanellis.com/securing-favorable-federal-prison-plac...
Re: Elizabeth Holmes found guilty
#128Earlier quoted context omitted.
And you d expect they d ask a random Indian in the street just it case, as you seem to say, this would be so trivial people dont feel the need to explain it.
It's usually against the style of news orgs like the NYT to guess at things like that, or go from general knowledge that may or may not apply.
Yes, I was just posting in a “fun fact” way. I have no idea if that is the real reason, and I doubt it is worth investigating .
Re: Elizabeth Holmes found guilty
#129From a quick look, no patients were harmed? Am I missing something?
Re: Elizabeth Holmes found guilty
#130A $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
I'm honestly very curious as to what better ways you have in mind for transferring large sums of money.