Author Topic: Elizabeth Holmes of Theranos banned from Owning/Operating Medical Laboratory  (Read 14285 times)

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Offline LabSpokane

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It's dead, stick a fork in it. Everything they are doing now is just theater for plausible deniability in case management and board get sued for gross negligence and thus become personally liable.

What's unclear yet is if someone who received (incorrect) treatment based on a Theranos test has been injured or died as a result.

Love to see the clip of Gupta reaming her.
 

Offline edy

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Sanjay Gupta said in the interview to her that someone had a heart attack due to the wrong results. Not sure how. Her blue eyes looked to be popped out of her head. I think she is taking the fall for a lot of incompetancy of others, but that is what captains do.

Here is a link, the video should be somewhere, didn't find anything yet on YouTube but it was a long segment on TV:

http://www.cnn.com/videos/health/2016/08/01/theranos-holmes-revolution-dr-sanjay-gupta-pkg.cnn
« Last Edit: August 02, 2016, 10:06:58 pm by edy »
YouTube: www.devhackmod.com
"Ye cannae change the laws of physics, captain" - Scotty
 
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Offline LabSpokane

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Lizzy is without a doubt just the lead muppet.

There's a lesson in here for youngsters starting out in business:

Muppets go to jail.

Muppeteers don't.
« Last Edit: August 03, 2016, 04:44:23 am by LabSpokane »
 

Offline rsjsouza

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<conspiracy_theory_mode="on">
Given that Theranos is a newcomer in a multi-billion dollar industry, it is clear this is a move to discredit it surreptitiously by the establishment trying to protect the status quo. During the ban period of two years, the existing players will scrutinize Theranos' work and create their own "portalab" solutions that will completely turn the innovative work absolutely moot.
<conspiracy_theory_mode="off">

From page three of the Flim Flam (Wo)Man's operator's manual:  When you can't present a shred of evidence that your technology works as advertised, shovel more bullshit.
Yeah, it looks like a cheap move.
Vbe - vídeo blog eletrônico http://videos.vbeletronico.com

Oh, the "whys" of the datasheets... The information is there not to be an axiomatic truth, but instead each speck of data must be slowly inhaled while carefully performing a deep search inside oneself to find the true metaphysical sense...
 

Offline LabSpokane

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Offline EEVblog

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What happened to the movie?
 

Offline LabSpokane

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Offline EEVblog

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What happened to the movie?
Already in the can: http://www.imdb.com/title/tt0120338/

This is one ending I want spoiled. Please tell me she ends up in jail?
 

Offline LabSpokane

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What happened to the movie?
Already in the can: http://www.imdb.com/title/tt0120338/

This is one ending I want spoiled. Please tell me she ends up in jail?

She's merely a muppet.  The early investor/VCs are the ones that are truly responsible and never will be held accountable. 
 

Offline Marco

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She's merely a muppet.  The early investor/VCs are the ones that are truly responsible and never will be held accountable.

Crucifying the muppet makes it harder to find new muppets. With enough nails maybe she'll roll over and implicate one of the originators for a plea. That's of course not how the system works of course :/ We have to pretend they all thought this could work and was not a giant fraud start to finish, because we might walk away with a libel suit ... while they walk away with millions.

PS. though the fact that the second line investors didn't manage to get bailed out by an IPO is at least creating some cry for justice from people who "matter".
« Last Edit: January 07, 2017, 08:19:34 pm by Marco »
 

Offline LabSpokane

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She's merely a muppet.  The early investor/VCs are the ones that are truly responsible and never will be held accountable.

Crucifying the muppet makes it harder to find new muppets. With enough nails maybe she'll roll over and implicate one of the originators for a plea. That's of course not how the system works of course :/ We have to pretend they all thought this could work and was not a giant fraud start to finish, because we might walk away with a libel suit ... while they walk away with millions.

PS. though the fact that the second line investors didn't manage to get bailed out by an IPO is at least creating some cry for justice from people who "matter".

I used to think that, but after being in the working world for a couple decades, have come to realize that the muppet supply is endless and totally undeterred by the prosecution of others.  What is finite, is the number of people that can put together a Theranos-style investment schema.  Those muppeteers live in the shadows, and get their handsome profits back early from the 2nd to Nth round "sucker investors," never to answer for what they have done. 

Lizzy clearly knows what she is doing is wrong at this point, but she never could have pulled this off without help, lots of it.
 

Offline m98

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I still don't really get why such a huge scandal unfolded on the whole thing? Why didn't they simply cease to offer those tests that can't be reliably done with capillary blood?
 

Offline LabSpokane

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I still don't really get why such a huge scandal unfolded on the whole thing? Why didn't they simply cease to offer those tests that can't be reliably done with capillary blood?

Because that was the entire business model.
 

Offline m98

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Because that was the entire business model.

Was it? Their business model was to make blood testing available for anyone with their blood collection device and their minilab technology. There are many tests that could be reliably done with capillary blood using current technology, or the test could be calibrated for the average error that occurs in capillary blood. But instead, things started to go haywire. That's what I don't understand.
 

Offline edavid

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There are many tests that could be reliably done with capillary blood using current technology, or the test could be calibrated for the average error that occurs in capillary blood.

Why do you say that?  The failure of Theranos indicates the opposite is true.

Anyway, there was a deeper flaw in their business model, which is that they were trying to make blood tests into a lifestyle purchase.  It's just as stupid as 23andme.
 

Offline eugenenine

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Quote
Theranos Founder, Elizabeth Holmes, Is Barred From Running Lab for 2 Years


But does it say that she cannot be a paid consultant to some else who is running a lab?
 

Offline m98

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There are many tests that could be reliably done with capillary blood using current technology, or the test could be calibrated for the average error that occurs in capillary blood.
Why do you say that?  The failure of Theranos indicates the opposite is true.

http://www.iasj.net/iasj?func=fulltext&aId=88741
https://www.researchgate.net/file.PostFileLoader.html?id=530f96f2d3df3e6c1b8b464b&assetKey=AS%3A272440385572884%401441966257979

etc...
 

Offline Bud

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Offline EEVblog

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More news here
http://www.businessinsider.com/theranos-creates-technology-advisory-board-2017-1

THE Henry Kissinger?  :o

Why would anyone want to join this turkey now?
Yeah, yeah, I know, money...
 

Offline Bud

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I am sure they reserved a chair for Obama.
 

Offline 3db

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She's merely a muppet.  The early investor/VCs are the ones that are truly responsible and never will be held accountable.

Crucifying the muppet makes it harder to find new muppets. With enough nails maybe she'll roll over and implicate one of the originators for a plea. That's of course not how the system works of course :/ We have to pretend they all thought this could work and was not a giant fraud start to finish, because we might walk away with a libel suit ... while they walk away with millions.

PS. though the fact that the second line investors didn't manage to get bailed out by an IPO is at least creating some cry for justice from people who "matter".

I used to think that, but after being in the working world for a couple decades, have come to realize that the muppet supply is endless and totally undeterred by the prosecution of others.  What is finite, is the number of people that can put together a Theranos-style investment schema.  Those muppeteers live in the shadows, and get their handsome profits back early from the 2nd to Nth round "sucker investors," never to answer for what they have done. 

Lizzy clearly knows what she is doing is wrong at this point, but she never could have pulled this off without help, lots of it.

If this is the company I'm thinking of then the board was stuffed with the "great and good'.
So THEY are just as culpable as her.

3DB



 

Offline EEVblog

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Office clearance sale!  :-DD


« Last Edit: June 14, 2017, 05:04:39 pm by EEVblog »
 

Offline IanMacdonald

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"..has seen her personal wealth fall from $4.5 billion to zero."

Think I'd have pressed 'Collect' once I hit the billion mark.   :phew:
 

Offline bitwelder

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SEC charges Theranos and CEO Elizabeth Holmes with ‘massive fraud’:
https://www.engadget.com/2018/03/14/sec-charges-theranos-and-ceo-elizabeth-holmes-with-massive-frau/
 

Offline Stray Electron

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  Not just those two but also Ramesh "Sunny" Balwani.  Now I think they're getting closer to the brains of the operation.   They've all be charged with "fraud relating to the startup's fundraising activities".  It looks like somebody is likely to go to jail. In addition, Holmes is "now barred from serving as the officer or director of a public company for 10 years. "  What amazes me is that somebody was still willing to give them a "last minute $100,000,000 loan"!
 


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