Sarina L how could Walgreens have taken so much criminal liability to allow theranos to sell a machine they never actually tested and saw it working in front of their eyes? It's the most elaborate fraud ever conceived. Well, at least the move will make more than the company did. Investors should invest in the movie rather than the company.
exactly - she is actually punished for being way more successful as a faker. sadly Fake it till you make it practice is ubiquitous and is usually tolerated because it aids destruction of the "old and established".
How is this not any different from after the 2008 crisis? Stop pretending like you care because you'll just go back to your normal daily job. If you really cared you would either not saying thing or do something about it
but, but... she's so beautiful. She can't be sent to prison. Plus she's Ivy League! It wouldn't be fair to send such an intelligent and refined person to prison. I think the $500k fine is more than enough to deter someone from stealing billions. Now if she stole diapers and milk, that would be worth tearing her family apart and punishing her with jail time.
Thank you John Carreyrou! Thank you for being a true professional journalist and honorable steward of the first amendment. The truth is the most powerful weapon humanity has to protect people from the greedy monsters that love to get rich destroying our lives. John is a great hero.
Yes. And now she is pretending that she doesn't know the whole story. Asking rudimentary questions like how old Elizabeth was when she founded the company. The fake news media is utter billshit.
What makes me have such respect in this hero is that he withstood all the pushback by Holmes, threats, intimidations, slander, law suits, etc, he didn’t back down. He brought the truth to the world. It gives me the courage to continue exposing the person who has power and the authority, but abused them and abused me that was beyond cruelty. He has tried to intimidate me but this heroic act gave me strength and belief that truth will show up in the end.
Mary Warren I remember reading that she had not been charged with any crimes yet and that's why she gave investors back their money, and she stayed on as CEO and kept the company. *HOWEVER* the feds have obviously been investigating all along and building a case. There will be huge charges of fraud at the very least coming down and there's no way she'll beat a federal case; not fraud on this scale. They'll give her worst-case-scenario football numbers and she'll be scared into copping a plea for maybe 10-15. Minimum.
People who want to believe in a story are easier to con than people who are skeptical. Theranos was a story people wanted to believe so it didn’t need to be true.
Also, it came down to the size of the con(lie). It's one of the 48 Laws of Power. Holmes created a massive bold lie. Due to its sheer scale no one thought to truly question it.
I'm shocked as f***, I would have never imagined how our prestigous biotech industry had so many holes in it to allow something so enormously fraudulent to occur -DW, The Grooveman
Jesse Sanders who is that and what happened in her case? Definitely they will make an example version out of her, because it was high financial fraud crime, mixed in with criminal manslaughter due to guy who died of heart attack who relied on the test, and employee distressed by her practices he commited suicide for that. So this would just be beginning of the house of cards. It was her vanity and ego that led to to propagate such deceit at largest scale that led to public safety risk, 2 deaths, and nearly a billion fraud from investors. Her clear value was her connections. It's quite remarkable how silicon valley investors could believe a 19 yo could create a biotech company and make something like this. I actually called this 2 years ago as impossible to an advisor, who regarded her work as revolutionary. I knew it wasn't real and predicted it will self correct later as unsustainable.
Nate Portney shkreli is the only one who went to prison in the 08 financial crisis. They made an example out of a guy who did much less wrong than many other people during that time. He was a scapegoat, they didn’t make an example out of him, they offered him up as a sacrifice.
Unacceptable, unbelievable, there is so much more to this story that still unknown. Hope light will shine in darkness of her and any other who decided to follow.
how could Walgreens have taken so much criminal liability to allow theranos to sell a machine they never actually tested and saw it working in front of their eyes? It's the most elaborate fraud ever conceived. Well, at least the move will make more than the company did. Investors should invest in the movie rather than the company.
Just wow...what an actress with balls, she nailed it. Throwing money at hopes isn't always the best thing to do. Holmes had zero medical credentials to successfully know what her lab and staff were up to. This chick had balls is all I can say.
Annoying how captivated Nora O’Donnell was with the book being made into a movie and who is starring in it who’s directing it. These are people’s lives! I had my blood tested by Theranos and I’m having to double check my results. I believed in Theranos and touted its ingenuity to anyone who would listen. How many different ways can you be shallow and ignore the fact that this affected peoples health and lives.
Watch the movie Pirates of Silicon valley, Jobs actually was shrewd business man and did all to become a great artist by (in his own words) "stealing from others".
He did at times show off products that were badly un-finished and wouldn't always make it trough the demo without crashing. However rather than sell products that couldn't do what they were advertised he got his engineers to work crazy hours for months on end to get everything working as advertised by launch. There's some genuinely crazy stories about the last months of development for the original Macintosh and iPhone.
Steve was fired and he went back to make the company better for humanity. People like this investigative journalist was not around to tear down Steve for any behavior.
There is a regulatory loophole that allows companies to market diagnostic tests called "lab developed tests" to patients without getting FDA approval first. Theranos took advantage of that loophole. But the FDA caught up with them later.
9:15 Why did they believe? Because they wanted to. Elizabeth Holmes is just like some preacher, find what people want to hear and get them to pay you every time you say it. They (the media and investors alike) wanted to see Theranos thrive for a variety of reasons. The media because "oh look a woman self-made billionaire" and the investors because they're always looking for good returns on their investments.
What I don't get and no one seems to question it is how did this product end up at Walgreen? Walgreen should also be held responsible for selling a blood test that doesn't work.
They panicked. They thought that if they didn't roll out the red carpet for Elizabeth Holmes and treat her like royalty, that their competitors would benefit from the "breakthrough medical technology" instead.
If anyone wants the whole full story of the Theranos scam, the Bad Blood book is excellent. Incredibly well written, very intriguing story with lots of interesting characters including billionaires and other very powerful people
I think this woman really had a great idea and I'm sure she really hoped her idea could be fully realized and adopted but the fact remains that she just did not have the educational background or the expertise to successfully implement such a technogolocially advanced product.
they are talking about a pathological liar and a possibly a psychopath. however, in the background there's a picture of host with His Holliness the 14th Dalai Lama who is a champion of honesty and compassion. What a perfect juxtaposition of evil and good
She was such a scholck!!! The only people that seem to have caught on to her from the Inception was the pharmacist who served as a consultant from Walgreen, a bevy of lesbians, and one Italian from South Philly
3:54 'blond, blue-eyed, brilliant' Boy, oh boy, so I guess she's implying blond and blue eyes are worth mentioning. Would brown hair and brown eyes get a mention?
Remi Stardust The VC world is dominated by white men, a group who generally finds blond hair and blue eyes appealing. If anything, she was taking a swipe at people who allow their biases to get in the way of sound decision making.
OK, ok, it just strikes me as dicey. Why not just say 'attractive'? By mentioning blue and blond she implies it's 'better' than brown brown or blue brown or black brown - and this all feeds into mimetic desire. The more people are exposed to this idea (media and people mentioning blond blue), the more they join in and think it's true. They will start thinking so too, even if a good-looking woman is a good-looking woman, no matter the colors. You mentioned the VC world and white men. I'm going to guess: Even in non-caucasian nations men will find blond hair and blue eyes more desirable, even though in hotter climates pale skin is a disadvantage and they should naturally prefer darker, more sun-robust skin. And my guess: It's mimetic desire, wanting what others want, having been exposed to advertisements, movies and comments like the CBS lady's. - Alright, hope this wasn't too long a reply, I just felt like getting this thought formulated :) Peace.
Remi Stardust I see what you’re saying, and I think in her own clumsy way, the host was trying to identify that. Watching it, again, it definitely comes across as more fawning that it should, though.
Even though she's a dishonest person, I have to agree, the girl has guts to set up this company and all on her own, and, also, charisma to deceit and swindle all those people that invested in Theranos for nothing in return. And that voice she has. If she had turned to Politics or acting she might have done something useful in her life.
Gracialon Ignasiver her scam got so big and institutionalized that she actually thought it was indeed a genuine product. That she could lie to everyone and get away with it, and even be rewarded for that. I guess that's why she hadn't sold them when she had the chance.
But, all they needed to do was get all six infinity stones and everything would have worked out just fine. She would then be able to snap her fingers and half of the population of Earth would have instantly had its blood tested. ;)
The news that JLaw will be portraying her is even worse than hearing she's guilty of fraud. JLaw? Of all actresses? Well, I guess at least they'll have a fellow American playing her so I guess that's good news.
Even if Holmes' claim was magical pixie dust that enables anti gravity, I'm sure CBS would have nonetheless hailed her as a groundbreaking female entrepreneur in a field dominated by old white men.
we should not be getting our news from women this anchor was gushing all over holmes because she saw a woman in "power" either she didn't want to ask the hard questions or she was in on the lie
Dang, CBS studio looks really dope. All the settings, sofa or glass table top, are cozy but refreshing and professional at the same time. Nice interior design. If only other news outlets can look at his good. Hate the Today morning show with that ugly orange/white bg logo, ABC is too dark and mechanical.
There will be new verb: they got Holmed. Ie investors will use that new term.... 'I gotta check to make sure you're not holming me". Haha. What madoff is to investment world, Holmes is to investor world. Can we petition to recommend this new verb in dictionary?
