From a quick look, no patients were harmed? Am I missing something?
EH took money from idiots and lost it all. Elon Musk is next only he took the idiots monopoly shares and converted it into actual fiat.
Elizabeth Holmes found guilty
181–190 of 1001 posts
Re: Elizabeth Holmes found guilty
#182Some founders "fake it till you make it", and this news should serve as a cautionary tale.
Maybe don't fake "medical devices" till you make it.
She was not found guilty on any charges of harming or swindling patients.
This was about the wealthy investors. They will come after you whether you fake medical devices or bombs.
Re: Elizabeth Holmes found guilty
#183This 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…
I've got two beer glasses from WeWork that say "glass half full" on them. They make me laugh every single time I see them.
half Kombucha, half lies
Re: Elizabeth Holmes found guilty
#184This 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…
I worked with a guy who collected stock certificates of dead startups that he'd worked at, and displayed then in frames on his wall. I think he called them good misspent youth.
The Lehman Brothers risk management/principles cube was a hot seller for a while, but I'm curious as to long term valuations. Thought the art collection didn't actually do that well on resale.
Re: Elizabeth Holmes found guilty
#185This 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…
Someone in my neighborhood wore a Theranos sweatshirt while jogging last year, I made up a story in my head that it was in solidarity with Ms. Holmes. If I'm right, I assume she wouldn't be willing to part with it.
Re: Elizabeth Holmes found guilty
#186This 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…
>the Theranos swag market is hot right now (check eBay if you're curious). I was curious. My ebay search for "theranos" turned up 50 items. There were fleece jackets with high asking prices, so that certainly was something. But everything else I saw for mugs and hats and t-shirts was in the $20-50 range. https://www.ebay.com/sch/i.html?_nkw=theranos
> But everything else I saw for mugs and hats and t-shirts was in the $20-50 range.
Seems like plenty of new things not collectors items.
Re: Elizabeth Holmes found guilty
#187Time 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…
From former AUSA, and current white-collar defense attorney Ken White:
"She faces a max of 65 years (3x20 + 1x5). And it's not at all clear she'll do less than 20."
Apparently the sentences will not necessarily be served concurrently.
Re: Elizabeth Holmes found guilty
#188Earlier quoted context omitted.
I wonder if that was because they used other testing methods to check patient samples, so they patient got a result regardless of the means by which it was obtained.
Still seems like fraud to me, they advertised a single drop of blood and they ended up taking blood samples the normal method.
And exactly what damage was done, slightly less blood in the patient?
Re: Elizabeth Holmes found guilty
#189It 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, the…
They had a fully functional lab though, it just wasn't using Theranos' devices. This is what they did to Wallgreens, they sold them on the idea that they would have theranos machines in-store, but instead what they did was do IV blood draws (calling it a comparison check) .. and then would just process the samples the same way as everyone else using standard equipment. People were getting good results because Therano…
My understanding is they took much smaller samples of blood which lead to lots of reproducibility problems. The standard machines they were using were being fed with up-sampled blood because Theranos didn't have the normal sample size.
> People were getting good results because Theranos was using machines from Siemens in their hidden lab.
Thus the tests sometimes were good, and sometimes bad. Some patients underwent unnecessary medical treatments and procedures based on bad tests.
Re: Elizabeth Holmes found guilty
#190This 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…
I have a lehnen brothers decision cube type of thing and it has some pretty interesting ones like "responsible risk management" erc
Practice sound risk management! I still have a coffee cup and a a garment bag that I bought for 10$