91–100 of 119 posts
I just wonder instead of going back and forth and create more controversy - why don't they just show which tests are working right now - and which don't. Demonstrating with data is the best defense they can put forth. its ok - if only small portion of tests are valid at this point but if they show progress with data - this validates they are on the right track.
Earlier quoted context omitted.
My take on it is that Elizabeth Holmes set out to make this idea a reality, but has been unable to do so. Sadly, all signs point to her trying to buy time via smoke and mirrors. If she has misled investors in the same way she has misled the media, given that she has raised $400 million, she's looking at decades in federal prison. I see this whole thing ending in tragedy, whether that just means the loss of $400 milli…
Prosecution seems fabulously unlikely, given how infrequently founders have gotten in trouble with the law for misleading their investors. Holmes won't be close to the most lurid bad-faith founder claim (if that's how the story indeed ends). This is why we have investor "accreditation".
I interviewed at Theranos a year ago, and found the employees to be smart and dedicated. However, the company was the most secretive I've interviewed at and the employees complained about being overworked. The fact the founder sold C++ compilers to Chinese universities when g++ is open-source sounded odd. But I still had hope in them even after they passed on me -- a Silicon Valley company actually making a differenc…
One reason they are so secretive is because they are trying to maintain many of their technical advances as trade secrets rather than patent them.
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What's interesting is that venture capitalists are slamming media outlets for reporting on the issue. Here's a rather silly rebuttal to a recent Theranos piece on The Information from Dave Morin: https://twitter.com/williamalden/status/658705178523258880 "Isn't it time as Millenials that we try to use the Internet to unearth deeper facts and see through these traditional smear campaigns?"
Morin's rebuttal is all the more laughable in the light that Theranos may be deficient in their quality systems: https://www.theverge.com/2015/10/27/9621026/fda-theranos-lab... These aren't trivial problems that can be fixed "at the time of, or within a week of, the inspection", as Theranos claims.
This company is looking less and less like they're struggling to develop new technology, more and more like a deliberate sham. Given that so much of their support thus far has been due solely to the Cult of Disruption, I can't help but wonder if news like this might make at least a few investors consider a return to good old-fashioned due diligence before placing their bets.
Seeing this story slightly riles me up. My favorite uncle has a brother who is rich behind wildest dreams. He invested in this supposed unicorn. What did or does she do to get rich people to pull out their wallets and possibly dump their money down the drain? I, on the other hand have so much opportunity knocking at my door (demoing my tech to Google, Samsung, about to go onto an inventor reality tv show and tons mor…
This company is looking less and less like they're struggling to develop new technology, more and more like a deliberate sham. Given that so much of their support thus far has been due solely to the Cult of Disruption, I can't help but wonder if news like this might make at least a few investors consider a return to good old-fashioned due diligence before placing their bets.
Seeing this story slightly riles me up. My favorite uncle has a brother who is rich behind wildest dreams. He invested in this supposed unicorn. What did or does she do to get rich people to pull out their wallets and possibly dump their money down the drain? I, on the other hand have so much opportunity knocking at my door (demoing my tech to Google, Samsung, about to go onto an inventor reality tv show and tons mor…
Also it sounds like you have some good tech, but need a partner who is able and experienced in dealing with investors.
Earlier quoted context omitted.
My take on it is that Elizabeth Holmes set out to make this idea a reality, but has been unable to do so. Sadly, all signs point to her trying to buy time via smoke and mirrors. If she has misled investors in the same way she has misled the media, given that she has raised $400 million, she's looking at decades in federal prison. I see this whole thing ending in tragedy, whether that just means the loss of $400 milli…
Given how loaded her board is with insanely high-ranking ex-government officials, you can pretty almost certain that any federal prosecution will not happen.
I am not a Theranos apologist but this is lousy reporting.