351–360 of 557 posts
The SEC title says Massive Fraud. I think the title here should reflect that.
Is Holmes still rich after this? I can't tell just how much of her wealth she's being forced to return in form of shares.
>Is Holmes still rich after this? But why it matters at all? Penalty should be proportional to the deed, not to the person's finances.
From the Financial Times: Here's the nuance of her formula: Commit fraud as an attractive, well-connected WASP woman who happened to be neighbors with well-connected VC Draper family. Tell a great story: Stanford drop-out who studied Chinese, afraid of needles, wants to help the world. Leverage Silicon Valley connections to pull in other really big fish, such as Kissinger, et al, who would be really, really embarrass…
I dunno, I'd say it kinda failed here.
Earlier quoted context omitted.
Yes, if you want to lie about some drone-based burrito delivery service you're probably not gonna draw the same ire as life-saving medical equipment. Although if you swindle investors for over $700 million in either case I imagine the SEC will be knocking at your door eventually.
> if you want to lie about some drone-based burrito delivery service I wouldn't suggest lying about anything in the aviation sector either.
From the Financial Times: Here's the nuance of her formula: Commit fraud as an attractive, well-connected WASP woman who happened to be neighbors with well-connected VC Draper family. Tell a great story: Stanford drop-out who studied Chinese, afraid of needles, wants to help the world. Leverage Silicon Valley connections to pull in other really big fish, such as Kissinger, et al, who would be really, really embarrass…
ie Sophia Amoruso, who ran her company into bankruptcy and immediately jumped into running a media company and having a Netflix show about women in business
Investor capital lost = ~$0
Elizabeth Holmes = $500k fine, D&O bar
Company value lost = ~$8 billion
It seems like there is a lot of stupid money around and a lot of scam artists trying to suck the supply dry.
From the Financial Times: Here's the nuance of her formula: Commit fraud as an attractive, well-connected WASP woman who happened to be neighbors with well-connected VC Draper family. Tell a great story: Stanford drop-out who studied Chinese, afraid of needles, wants to help the world. Leverage Silicon Valley connections to pull in other really big fish, such as Kissinger, et al, who would be really, really embarrass…
> Works like a charm I dunno, I'd say it kinda failed here.
Meanwhile Shkreli - who's "victims" lost zero money - is going to spend 7 years in jail and has lost at least $10 million because the government decided to take it over.
I would love to see people complaining about gender gaps addressing the huge gender gap in our justice system, because cases like this are a slap in the face.
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[1] https://www.reuters.com/article/us-theranos-sec/theranos-and...