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Theranos founder Elizabeth Holmes charged with $700m fraud
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Homer J Simpson:
Fancy new blood analyzer ready to go......not so fast.

"In truth, according to the SEC's complaint, Theranos' proprietary analyser could complete only a small number of tests, and the company conducted the vast majority of patient tests on modified and industry-standard commercial analysers manufactured by others."




http://www.bbc.com/news/business-43406050








"the secret lab"

CNe7532294:
This is a case of "I have a good idea but I don't know how execute it properly other than business skills." Running a general business is easy. Electronics Engineering is somewhat easy (you can always revise a mistake). Medical is a NO NO NO. You need the Ph.Ds and M.D.s along with J.D.s. This industry is heavily regulated because we are essential messing with peoples lives for better or worse. I know I had worked in the industry and I have exactly done this type of job. By that I mean I personally have accessioned stickers to tubes, pipetted (those steady hands come in handy) and later carried out the chemical reactions needed to stabilize, lyse, and analyze proteins and DNA that and general toxicology here in the TMC along with working with the robotics of automated liquid handling systems. There are so many things that can go wrong and so many rules to follow. You can not make one mistake. There is no room for error. Its like the space program. "Failure is not an option". Even if you are 110% an outside force can destroy your company. A personal example of mine is when an insurance/billing company had a breach in their system. This is a HIPPA violation tallying into the millions (per person). They were fined in the millions and went bankrupt. This affected a lab that I worked at because they had a good percentage of samples coming in tied to this insurance company via paperwork. I remember having to simply throw all those samples in the bio-hazard bin just because we couldn't bill those samples. Worse yet is running those samples only to find out after the fact.  :rant: Don't get me wrong though. This is a good idea and I've met more than my fair share of phlebotomist (junior nurses, certified lab techs, etc.) whom shake like a leaf at retrieving a blood sample. Worse is someone who can't properly insert a needle to an older person. Then proceeds to stab them like no tomorrow.  |O
EEVblog:
 :-DD

https://californiahealthline.org/news/reporters-notebook-the-tale-of-theranos-and-the-mysterious-fire-alarm/
chickenHeadKnob:
Pulling the fire alarm is a classic trick that a desperate student does just before exams, to gain more time. It never works. The University I went to had seen this stunt so many times they got the the routine down to 10 minutes. Shuffle the students out, check for smoke, back in you go.
Bassman59:
So what does Theranos have in common with Uber’s self-driving car division?

Arizona.

Specifically, Arizona’s idiot governor Doug Ducey welcomed both companies to the state by saying, “we won’t regulate you, do what you want!”

Remember, prior to entering politics, Ducey was the guy who ran an ice cream store chain (Cold Stone Creamery) into the ground. Yep, he went bust selling ice cream in Arizona.
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