401–410 of 1001 posts
Would the jury get this document with the blue and yellow highlighting??
> Language proposed by Ms. Holmes, and objected to by the government, is highlighted in blue. Language proposed by the government, and objected to by Ms. Holmes, is highlighted in yellow.
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.
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, the…
They weren't really being charged with the stuff about patients, in part I think because the communication between Holmes and investors was direct, whereas Holmes was not personally communicating with the patients. Basically, the prosecutors went for the charges that were easier to prove. If Theranos still existed as a company, it would doubtless be getting buried under a blizzard of charges relating to how Theranos,…
Unless the word "really" is doing some heavy lifting here, this is incorrect. There were multiple counts directly and specifically related to defrauding patients. These counts came back not guilty, but they were, in fact, charged, and customers testified in court in support of these charges.
Earlier quoted context omitted.
I believe they also reverse engineered a lot of the third party machines, in an attempt to make them work the way they wanted to. That's... that's bad.
I think that's entirely fine - both for patients and investors (Siemens might be a bit Irate, but I don't know if I would put that in the "Bad" category). The issue would be if they informed their investors that tests were being done on Theranos technology, but were actually using siemens technology. With regards to the patients - all they should care about is accuracy of test results - whether Theranos was doing it…
Those machines weren't designed to work that way though, so the test results were wildly inaccurate when they did dilutions. And they fired people who wanted to delay rollout in order to ensure that they had consistently accurate results.
Earlier quoted context omitted.
I followed the case very closely, read the transcripts I could find daily etc. What Elizabeth did wasn't far from what many many many founders do. This was held to a legal standard, sure, but let's be real here... since when was the legal standard the SV standard? Is SV really the bastion of morality and legal ethics? Is that the new norm, good behaviour? Notably some investors refused to participate and iirc Draper…
Underrated comment. The investors were investing in her because she was willing to take the risk of move fast and break things (where things in this case is the diagnostic accuracy of blood tests). She got nailed, ironically, not for hurting patients, but instead for harming the egos of the investors. As a participant in the startup investment world you are willing Participant of SUSPENSION OF DISBELIEF. This is roug…
Ain't that the truth. Hand on heart: the number of decks I saw last year that have an INSANE 2 page legal disclaimer at the start AND finish of the deck is up ~90%, ninety percent. I knew people who used this as a signal of an inexperienced founder, over night it's the signal of an experienced founder.
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, the…
Just going by Carryous podcast, it seems like there was a lot more hard evidence (emails, transcripts, texts, etc) that she was knowingly lying to investors. On the other hand, I don't think there was any hard proof that she didnt know the results delivered by her labs (which were using third party machines, albeit ones being used improperly), were bunk.
Earlier quoted context omitted.
I believe they also reverse engineered a lot of the third party machines, in an attempt to make them work the way they wanted to. That's... that's bad.
Reverse engineering is an important right that is protected by centuries of patent and trade secret law in the US and many other countries. It's fundamental to innovation, even though non-innovative bad people like Theranos also do it. Reverse engineering is not bad, and it is dismaying that someone posting on a site called "Hacker News" would think so.
Earlier quoted context omitted.
Technically 20 years per count, but realistically not too many. White collar crimes are anyways not punished very strictly, and she's a new mother on top of that. She'll negotiate a short term at some country club prison.
There are really no "country club prisons" in the US anymore. Yes, there are minimum security prison camps for first time, non violent offenders, which seems entirely appropriate, but a day spa it aint.
https://www.washingtonpost.com/news/reliable-source/wp/2015/...
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, the…
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…