Author Topic: Elizabeth Holmes of Theranos banned from Owning/Operating Medical Laboratory  (Read 16404 times)

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Offline edy

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Just an update... not sure about when this came to light but WOW!!!!! :

https://en.wikipedia.org/wiki/Elizabeth_Holmes

Quote
Holmes was romantically involved with Ramesh “Sunny” Balwani, a Pakistani-born Silicon Valley technology entrepreneur.[26] She met him in 2002 at age 18 while still in school, he was 19 years her senior and married to another woman at the time.[75] They became romantically involved in 2003, about the same time Holmes dropped out of college.[75] Sunny divorced his wife in 2004 and the couple moved into an apartment around 2005. Although Sunny didn't officially join the company until 2009, as Chief Operating Officer, he was advising Holmes behind the scenes prior to then.[75] Holmes and Sunny ran the company jointly in a corporate culture of "secrecy and fear".[75] He left Theranos in 2016 in the wake of the WSJ investigations, fired by Holmes according to her but on his own according to him.[75]

This may help her case... seems she was made into a figure-head puppet as she was naive and controlled by an "experienced" bamboozeler.
« Last Edit: January 04, 2019, 07:03:24 am by edy »
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Online tsman

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This may help her case... seems she was made into a figure-head puppet as she was naive and controlled by an "experienced" bamboozeler.
The expanded paragraph is from an edit on 8th September 2018. Before that, it was just mentioning they had a relationship and citing the WSJ article.
 

Offline edy

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Stuff related to the relationship on the Wikipedia page of "Sunny" also which I didn't know about:

Quote
Ramesh "Sunny" Balwani (born March–June 1965[2]) is the former president and chief operating officer of Theranos, which was a privately held health technology company founded by his then-girlfriend Elizabeth Holmes.


Quote
In July 2000, Balwani cashed out his shares in Commerce One, pocketing nearly $40 million shortly before the company went out of business, right before the dot com bubble burst.[1][6] Subsequently, he went back to school and received a Master of Business Administration from the University of California, Berkeley in 2003.[6] He spent another four years in a computer science graduate program at Stanford University, but dropped out in 2008.[6]

While enrolled at Berkeley, Balwani met Elizabeth Holmes, who was in her senior year of high school. The two were on a summer trip to Beijing, as a part of Stanford's Summer Mandarin Course cohort.[1] Holmes then went on to Stanford University to pursue an undergraduate degree in chemical engineering [1], but later dropped out to focus full-time on Theranos.[7][8]

Quote
In September 2009, despite having no experience in the field of biotechnology, Balwani joined Theranos, run by his then-girlfriend Elizabeth Holmes. Together, they raised $700 million of investor money.[20]

Quote
Balwani was in a romantic relationship with Elizabeth Holmes during his tenure at Theranos.[23] Prior to this, he was married to a Japanese artist named Keiko Fujimoto.[1] The couple lived in San Francisco, before they divorced in 2002.

I guess when you are a naive 18-year old just graduating high school, young and good looking, lots of energy and the media just gobbles you up like you are the next Einstein out of Berkley... and you meet a very rich older man, present your idea and his "light bulb" goes off with the sound "cha-ching" Let's make some cash... We have the makings of a giant investment fraud scheme and nobody seems to step back for a second and actually think to VALIDATE and PROVE if it is legit.
« Last Edit: January 04, 2019, 10:35:03 am by edy »
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Offline cdev

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Some extremely good con artists have NPD


They are very very good liars. And they have this sort of energy that sucks people in.

I don't know what happened in this case. The world these people travel in is very different than our own. There are a lot of things going on, stories arent always the way the media spin them.

That said, there are a lot of con artists these days. A lot.

And a lot of people looking to make a quick buck too.
« Last Edit: January 04, 2019, 12:33:14 pm by cdev »
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Offline james_s

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Should have been a lifetime ban.

Does it even matter? Who is going to let her run a medical lab even if there is nothing legally barring her from doing so?
 

Offline cdev

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Their processes did have some value, the big picture, however just was nowhere near as good nor as repeatable as they claimed it was.

Within an AI context, however, it would have been helpful. How do you ascertain values of data in situations where its just a data point, not 'the' data? All illnesses are places along a continuum, as is all science. Improve a few parameters and does somebody suddenly become no longer sick? Officially, they do.
"What the large print giveth, the small print taketh away."
 

Online EEVblog

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I guess when you are a naive 18-year old just graduating high school, young and good looking, lots of energy and the media just gobbles you up like you are the next Einstein out of Berkley... and you meet a very rich older man, present your idea and his "light bulb" goes off with the sound "cha-ching" Let's make some cash... We have the makings of a giant investment fraud scheme and nobody seems to step back for a second and actually think to VALIDATE and PROVE if it is legit.

*cough*
Meredith Perry (uBeam)
*cough*
Mark Cuban
*cough*
 

Offline edy

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I guess when you are a naive 18-year old just graduating high school, young and good looking, lots of energy and the media just gobbles you up like you are the next Einstein out of Berkley... and you meet a very rich older man, present your idea and his "light bulb" goes off with the sound "cha-ching" Let's make some cash... We have the makings of a giant investment fraud scheme and nobody seems to step back for a second and actually think to VALIDATE and PROVE if it is legit.

*cough*
Meredith Perry (uBeam)
*cough*
Mark Cuban
*cough*

Yes, but at least Mark Cuban didn't have an illicit affair with Meredith Perry, causing her to drop out of college, then go on to divorce his wife and shack up with her, operating things in the background and then officially joining the company a few years later, running it in a culture of "secrecy and fear" to defraud investors of millions of dollars, and then try to split once investigations started.  :-DD  Sometimes movies just write themselves... So the book came out, now who is going to write the screenplay? :popcorn:

https://en.wikipedia.org/wiki/Bad_Blood:_Secrets_and_Lies_in_a_Silicon_Valley_Startup

And apparently one of our own EEVBlog members noted something about Mederith Perry being dropped as CEO from the company a few months ago as mentioned in this blog post:

https://liesandstartuppr.blogspot.com/2018/09/meredith-perry-no-longer-ubeam-ceo.html
« Last Edit: January 04, 2019, 09:06:35 pm by edy »
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Online EEVblog

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Yes, but at least Mark Cuban didn't have an illicit affair with Meredith Perry, causing her to drop out of college, then go on to divorce his wife and shack up with her, operating things in the background and then officially joining the company a few years later, running it in a culture of "secrecy and fear" to defraud investors of millions of dollars, and then try to split once investigations started.  :-DD  Sometimes movies just write themselves... So the book came out, now who is going to write the screenplay? :popcorn:

That would be Vanessa Taylor, with Jennifer Lawrence starring!

https://www.imdb.com/title/tt5795144/

BTW, how does it take $50M to make a drama film?
 

Offline cdev

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I think some of the scenes in "The Social Network" capture the startup atmosphere in the Bay Area pretty well.
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Offline Magiciaen

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That would be Vanessa Taylor, with Jennifer Lawrence starring!

https://www.imdb.com/title/tt5795144/

BTW, how does it take $50M to make a drama film?

The title is the obvious one to go for, but ingenious nonetheless.
 

Offline edy

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So a documentary is coming out by HBO titled "The Inventor: Out For Blood in Silicon Valley". Here is an article about it on CNN:

https://www.cnn.com/2019/03/11/tech/the-inventor-theranos-documentary/index.html

Here is the Wikipedia page:

https://en.wikipedia.org/wiki/The_Inventor:_Out_for_Blood_in_Silicon_Valley

Can't wait to watch it! Should be out next week, and soon available for streaming thereafter. Here's a clip:



I though this quote from the CNN article was quite enlightening:

Holmes declined to participate in the film. But producer Jessie Deeter had a five hour dinner with Holmes in an attempt to convince her.
"She wasn't giving much up, but what she did convey to Jessie was that she was the victim — not that she'd done anything wrong," he said.
Gibney, whose body of work has examined deceptive individuals over the years, said he wasn't surprised.
"I think a lot of these people who over promise and imagine that they can do things well beyond what anybody else has done so far, they are possessed of a certain delusional quality — a certain kind of narcissistic belief in their own powers," said Gibney. "That's become, in a way, kind of my stock and trade: to examine those characters, 'cause there's something glorious about that."
« Last Edit: March 12, 2019, 08:34:20 am by edy »
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