171–180 of 1001 posts
Some founders "fake it till you make it", and this news should serve as a cautionary tale.
Fake it all you want until your fakery harms innocent parties.
Count one of conspiring to commit wire fraud against investors in Theranos between 2010 and 2015: Guilty. Count two of conspiring to commit wire fraud against patients who paid for Theranos’s blood testing services between 2013 and 2016: Not guilty. Count three of wire fraud in connection with a wire transfer of $99,990 on or about Dec. 30, 2013: No verdict. Count four of wire fraud in connection with a wire transfer…
Count one of conspiring to commit wire fraud against investors in Theranos between 2010 and 2015: Guilty. Count two of conspiring to commit wire fraud against patients who paid for Theranos’s blood testing services between 2013 and 2016: Not guilty. Count three of wire fraud in connection with a wire transfer of $99,990 on or about Dec. 30, 2013: No verdict. Count four of wire fraud in connection with a wire transfer…
Don't know all of the details behind each count, but glad to see this result, which seems good and fair. Basically, looks like the majority of "committing fraud against investors" charges were guilty, but the "committing fraud against patients ", which always seemed like more of a stretch to me, were not guilty.
Count one of conspiring to commit wire fraud against investors in Theranos between 2010 and 2015: Guilty. Count two of conspiring to commit wire fraud against patients who paid for Theranos’s blood testing services between 2013 and 2016: Not guilty. Count three of wire fraud in connection with a wire transfer of $99,990 on or about Dec. 30, 2013: No verdict. Count four of wire fraud in connection with a wire transfer…
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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…
Looking forward to JLaw's portrayal of Holmes in Adam McKay's Apple Studios adaptation of Bad Blood . Hope they pick up from where the book ended and cover this trial. https://variety.com/2021/film/news/jennifer-lawrence-elizabe...
Guilty of taking a billion+ dollars from rich and influential people who couldn't bother to do the bare minimum due diligence into their investments due to greed and FOMO. Not guilty of endangering thousands of lives by running fraudulent and inaccurate tests under sub-par lab conditions. Our justice system is such a farce.
*(Fixed grammar error specified below)
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…
Along these lines an old investor I knew kept a framed Bre-X share on his wall.
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…
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.
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…