Theranos founder Elizabeth Holmes jailed for fraud
Discussion
Theranos founder Elizabeth Holmes has been sentenced to over 11 years in prison for defrauding investors in her blood testing start-up that was once valued at $9bn (£7.5bn).
Fake it till you make it.
Never made it.
Fascinating story behind this (the 'Out for Blood' documentary is well worth a watch).
Fake it till you make it.
Never made it.
Fascinating story behind this (the 'Out for Blood' documentary is well worth a watch).
Just like FTX, people are easily fooled. The documentary is quite good, a very unique but strange lady. Im assuming Sunny Balwani will get the same punishment for his part in it all.
"Her partner Billy Evans, in his sentencing memo to the court, told the judge that he fears for "a future in which my son grows up with a relationship with his mother on the other side of glass armed by guards".
Well he should have thought about that before getting with and getting pregnant a woman who was clearly going to prison for a decent period of time
"Her partner Billy Evans, in his sentencing memo to the court, told the judge that he fears for "a future in which my son grows up with a relationship with his mother on the other side of glass armed by guards".
Well he should have thought about that before getting with and getting pregnant a woman who was clearly going to prison for a decent period of time
Edited by Juanco20 on Saturday 19th November 07:29
I agree that the documentary was good. What baffled me though was just how many people were prepared to give her millions of dollars with nothing more than her word that it worked.
My conclusion? Greed trumps common sense and good old fashioned due diligence. The old adage that a fool and their money never seemed more apt.
My conclusion? Greed trumps common sense and good old fashioned due diligence. The old adage that a fool and their money never seemed more apt.
skeeterm5 said:
I agree that the documentary was good. What baffled me though was just how many people were prepared to give her millions of dollars with nothing more than her word that it worked.
My conclusion? Greed trumps common sense and good old fashioned due diligence. The old adage that a fool and their money never seemed more apt.
Lots of people terrified of not being in on the ground floor and missing out, and rarely playing with thir own money anyway. My conclusion? Greed trumps common sense and good old fashioned due diligence. The old adage that a fool and their money never seemed more apt.
Timothy Bucktu said:
A vapourware saleswoman. A bit like a certain Mr Musk is so many ways.
Yeah, sure. All that vapourware online payment handling. And millions of vapourware electric cars. And vapourware commercial spaceflight. You know the general idea is that you should bend your ideas to fit reality, not the other way round, right? You need to pull up the tinfoil hat a bit, it seems to be acting more like blinkers. bazza white said:
I wonder which voice she used in court.
Fascinating story. Not sure she was out to con from the start but think couldn't pull it off but the train has already left the station and she just went with it.
I work in the same industry - medical diagnostics - and it is jammed packed full of young, smart but hopelessly inexperienced Steve Jobs wannabees who all share the same fault - they have not the slightest idea about how hard it is to develop this kind of tech, but are so arrogant that they assume they it will be a breeze for them. And it never is.Fascinating story. Not sure she was out to con from the start but think couldn't pull it off but the train has already left the station and she just went with it.
Worse still, they are usually the ones that get funded by investors, who usually have no idea how hard it is going to be either.
She screwed up investment in the entire industry for a good few years because all the companies that were actually trying to do something similar - but with the required knowledge and experience on board - could not get investment as they were seen as "Just another Theranos"
TorqueDirty said:
I work in the same industry - medical diagnostics - and it is jammed packed full of young, smart but hopelessly inexperienced Steve Jobs wannabees who all share the same fault - they have not the slightest idea about how hard it is to develop this kind of tech, but are so arrogant that they assume they it will be a breeze for them. And it never is.
Worse still, they are usually the ones that get funded by investors, who usually have no idea how hard it is going to be either.
She screwed up investment in the entire industry for a good few years because all the companies that were actually trying to do something similar - but with the required knowledge and experience on board - could not get investment as they were seen as "Just another Theranos"
I think she thought the only reasons the technical problems hadn't been solved before was that nobody else had recognised that miniaturised blood testing might be quite handy. Worse still, they are usually the ones that get funded by investors, who usually have no idea how hard it is going to be either.
She screwed up investment in the entire industry for a good few years because all the companies that were actually trying to do something similar - but with the required knowledge and experience on board - could not get investment as they were seen as "Just another Theranos"
When she was a kid she 'designed' a time machine. The design had a great deal of detail about the user interface but none whatsoever about how it was supposed to go through time, same kind of thinking.
Dr Jekyll said:
That's a bit unfair on Mr Musk. His cars and rockets do kinda work, they aren't faked.
Yeah, but they weren't his though, were they. Wasn't it just a term of his involvement that he got creative credit for TESLA and Space-X even though he came on board on both after others had already came up with the tech itself?I believed the hype too that he was the inventor, but it seems he's the Simon Cowell of the tech industry - zero creative talent of his own but an uncanny ability to spot and exploit the talent of others (with the insistence that he gets creative credit on all their work)...
Evercross said:
Dr Jekyll said:
That's a bit unfair on Mr Musk. His cars and rockets do kinda work, they aren't faked.
Yeah, but they weren't his though, were they. Wasn't it just a term of his involvement that he got creative credit for TESLA and Space-X even though he came on board on both after others had already came up with the tech itself?I believed the hype too that he was the inventor, but it seems he's the Simon Cowell of the tech industry - zero creative talent of his own but an uncanny ability to spot and exploit the talent of others (with the insistence that he gets creative credit on all their work)...
t done, making it work and scaling it and selling real things is still the opposite of vapourware. E63eeeeee... said:
Timothy Bucktu said:
A vapourware saleswoman. A bit like a certain Mr Musk is so many ways.
Yeah, sure. All that vapourware online payment handling. And millions of vapourware electric cars. And vapourware commercial spaceflight. You know the general idea is that you should bend your ideas to fit reality, not the other way round, right? You need to pull up the tinfoil hat a bit, it seems to be acting more like blinkers. Hyperloop.
The boring company.
Subterranean superhighways.
Tesla semi truck
PayPal was not his company...wasn't he fired from the board eventually?
Spaceflight...just a continuation of Nasa's work at the end of the day. Vertical landing Is notoriously difficult (which is why it hasn't been used much) and nothing new.
And now...Twitter, lol.
Musk...vapourware salesman. Nothing more, nothing less.
Actually, it probably wasn't fare to compare Theranos to Musk...she has nothing on him really.
ChocolateFrog said:
As I said in the other thread I have my doubts whether or not she'll actually serve any jail time.
She's white, attractive and rich that's a trifecta that's gets you off most things in the US.
Add in young and female and you've got a full house.
She's also pregnant. How convenient. She's white, attractive and rich that's a trifecta that's gets you off most things in the US.
Add in young and female and you've got a full house.
Timothy Bucktu said:
E63eeeeee... said:
Timothy Bucktu said:
A vapourware saleswoman. A bit like a certain Mr Musk is so many ways.
Yeah, sure. All that vapourware online payment handling. And millions of vapourware electric cars. And vapourware commercial spaceflight. You know the general idea is that you should bend your ideas to fit reality, not the other way round, right? You need to pull up the tinfoil hat a bit, it seems to be acting more like blinkers. Hyperloop.
The boring company.
Subterranean superhighways.
Tesla semi truck
PayPal was not his company...wasn't he fired from the board eventually?
Spaceflight...just a continuation of Nasa's work at the end of the day. Vertical landing Is notoriously difficult (which is why it hasn't been used much) and nothing new.
And now...Twitter, lol.
Musk...vapourware salesman. Nothing more, nothing less.
Actually, it probably wasn't fare to compare Theranos to Musk...she has nothing on him really.
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