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Theranos - fundraising yet again

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Dave3:
Shocked to find that Elizabeth Holmes, the infamous founder of Theranos, is fundraising once again. This week. The Theranos fundraising letter linked below is highly entertaining.

Theranos "developed" uber-cheap blood testing equipment using just a few drops of blood and was "valued" at $9 billion according to press reports. Investors lost nearly $1 billion cash and some blood testing patients are claiming "fake" Theranos blood tests caused medical issues.

In 2018, US Federal agents formally declared Theranos a "fraud" and have began launching severe penalities on the company's founder, Elizabeth Holmes. The Wall Street Journal recently reported all but ~24 employees were dismissed.

Federal and State criminal charges plus civil cases are likely to follow. That said, her high-level political contacts from both parties will try to avoid further embarassment; that will certainly play a role in quashing justice.

https://www.buzzfeed.com/ryanmac/theranos-ceo-elizabeth-holmes-desperate-letter-shareholders?utm_term=.hfvLOOYb9#.urXPXXVry

https://nypost.com/2018/04/10/theranos-reportedly-fires-all-but-two-dozen-employees/

 

rsjsouza:
Quite interesting; after reading that "private equity firm Fortress Investment Group, (...) agreed to loan Theranos $100 million" I can only guess the carrot is really huge. Perhaps because "Theranos has 1,175 granted or pending patents around the world"

There's really a lot of folks out there that know how to milk the money cow...

JimRemington:
Rumors of a new Elizabeth Holmes (AKA "the next Steve Jobs") startup.
 
https://gizmodo.com/disgraced-theranos-ceo-elizabeth-holmes-is-allegedly-lo-1826710013

Be the first on your block to invest!

Dave3:
Theranos founder Elizabeth Holmes and boyfriend/COO Sunny Balwani were charged with Federal Wire Fraud, US Federal charges which have teeth and potentially long prison terms for regular citizens.

Due to Holmes' embarassing personal relationships and dealings with the highest level politicians in both the Republican and Democratic parties, she may avoid prison altogether. . .

http://www.latimes.com/business/technology/la-fi-tn-theranos-elizabeth-holmes-20180615-story.html


SiliconWizard:
For some updates and those that haven't followed the whole story:

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