Robert Blinn they don't. Those who never leave their show set and spend all the time blabbling have unfortunately more value than investigative journalists. And this is why we are seeing less of these breaking news while I'm sure Silicon Valley is infested with companies like Theranos and Hollywood is infested with people like Weinstein
@@ryanminaker157 Nope not that all, just saying he also makes money by exposing this company.. its not a bad thing, hes a journalist after all, thats his job
Farhana NYC Yeah he wrote the book after he published his article. His original motive was good. And tbh, if I was in his shoes I’d milk the situation as well
I'd love to know what made her think she was onto something and leave after the two semesters in chemical engineering. I mean, that'd be like someone in physics or astronomy waking up one day and saying: alright, I'm done with my academic training and I'm now off to build teleporters, or worm-hole generators or fusion power-plants. What made her go, I've invented this technique of testing a drop of blood for upwards of a hundred tests, without diluting or affecting the small blood sample. Clearly, I'm not trained in chemical engineering and my analogy might not be exactly accurate, but I'm dumbfounded by her pipe-dream!
The there risk is Very high, but so is the reward. That's the thing here, Lizzy was a sociopath. She charmed people and excluded facts. It's more like why were these board members not bothering to have due diligence?
The fact that Holmes is pretending to be the poor naive victim in the trial is offensive. She viciously harassed people and is 100%'responsible for a former employee committing suicide because of the intense pressure she put on people to remain quiet about her fraud...I truly hope nobody on jury is buying that Elizabeth can both be a charismatic woman who was able to convince tons of prominent people into investing hundreds of millions of dollars and also this delicate flower who wasn't aware of or responsible for anything
Notice that every big investor is an old man who she "charmed" except Betsy DeVoss. Her entire board the same. I believe the saying is "a fool and his money is soon separated." My beef is the way they abused the people who worked there. And the patients who got either false positives or negatives from their fraud. That is really vile and deserves jail time.
If you are implying the old men she “charmed” she slept with I highly doubt it. These old men are rich for a reason. They are smart. They probably saw something in her they thought would be the next zuckerberg. They probably knew this was a big risky investment but took it anyway because she was probably a super saleswoman scam artist. Like a used care salesman. Promises you the world for a piece of junk.
The DeVoss money was from the family trust. So it wasn't necessarily Betsy that gave Theranos the money or met with Elizabeth, she just gets mentioned because she's the most well known.
The first red flag should have been the fake deep voice. Then, when Avie Tevanian left the company (already in the beginning) it should also have been a huge red flag. Another giant red flag was that there were no scientists on the board.
I can understand being a hard-core "salesman", a "wheeler-dealer", or just a "dreamer". What makes this crazy is that she had no remorse doing this in the healthcare industry. Healthcare is one area that there is no room for over-eager salesman or outlandish claims without proof. Would be very difficult to sleep at night when acting this carelessly with other people's health.
Rhett Roden She slept just fine. It was 10 years that she operated this way knowing full well the tests didn’t work. Over 1 mil blood tests had to be voided, a million Americans who needed health info got completely wrong results and who knows what the consequences were for each one. My grandfather took one of her tests and luckily it was so far off what he expected that he did it again with a proper laboratory.
I work in medical research and remember reading about the technology. I was immediately suspicious. I couldn't believe how so many "sophisticated" investors got duped. I think "financial advisors" are lazy and are not vigilant skeptics who do not do the difficult grunt work of sorting through the weeds. Instead swallow wholeheartedly the marketing materials provided by companies looking for financing.
i doubt it has much to do much financial advisors. From reports it seems the company did not go through seeding rounds like normal start ups but rather it was from connections he has.
Actually what she wanted to do was possible with existing technology like machine learning that could theoretically with enough data points and inferencing extrapolate very accurate results with a small margin of error. Best of all as long as you get the several dozen dimensions of data, control samples, etc... you can set up a AI machine on Amazon's AWS in less than week for only $20 an hour with 8 V100 gpus. Only thing is she intended it as a scam in the first place so even she didn't believe it was possible let alone was aware such technology existed because she never looked for it in the first place. Someone could do this right now, but I doubt anyone would take a real one seriously anymore after this.
@@hassanalbolkiah127 I disagree that she always knew it was impossible. She never took money out of the company and stashed it offshore. She lost everything staying aboard that sinking ship. I think she knew she was lying, but was delusional enough to believe she would eventually change the world. That’s pretty consistent throughout her life.
@@hassanalbolkiah127 thats nonsense what you say..you can have the best A.I. but when the data is rubbish that wont help. you need more than a drop of blood thats the main issue for good analysis
God, finally good questions. Everyone likes to poke holes in Theranos after it''s full of holes already. It's interesting to know what set this discovery in motion. I'm still floored this scam went on as long as it did.
How can a person, who commits massive fraud, get no jail time? The same happened in 2008. Yet, your local bum will get jail time for possession of marijuana. Maybe I am not sophisticated enough to grasp the ways of the justice system, but it seems to me that Iustitia is definitely not blind.
She'll be in jail for at least 20 years. The government has a duty to make sure these types of fraud cases are heavily punished to make sure more and more people don't try to do the same. There is something nearly psychotic about this women and she should be kept in jail for the rest of her life as far as I'm concerned.
The only reason that I'm pretty sure she will get jail time is because she conned money out of very rich, powerful and influential people that have ties with the government and they want revenge for being scammed out of their millions of dollars. If that wasn't the situation, I would bet she would just get a slap on the wrist
Although she was finally sentenced, I'll be surprised if she serves time. All her DNC political pals are hard at work to keep her out of prison. 150 letters to the judge requesting leniency.
I have to give it up for Rupert Murdoch though. I don't claim to support him in any way, but his decision to allow the investigation into Theranos despite his huge conflict of interest in investing millions in the company was quite astounding. Others would have completely buried the investigation due to their investment and involvement, like Henry Kissinger and the rest of the board did, and yet he decided to keep journalistic Integrity. I'm frankly shocked and amazed.
@@captainyourmom - There's also the point that having his own personal front-man spearheading the investigation prevented him from investing or perhaps even losing even more money. We will never know what kind of exit strategies may have been available to Mr. Murdoch. It definitely helps to know before others when a pyramid scheme is collapsing.
As a practicing engineer with a degree, your first year consists of basic courses, math, language, beginning chemistry, physics, etc. None of the advance information she needed to do this would have been taught in the first year. Zuckerberg and Gates started programming in high-school. Highschool chemistry will not get you Theranos.
He is a HERO! He may have saved the lives of millions of people that might have died from being misdiagnosed! Holmes needs life in jail for attempted murder of public trust! She should never be allowed to open up shop of any kind ever again!
What a great book. Still amazed someone like Holmes could rise to the level she did as well as raise money without valid due diligence. Her prison sentence is too short!
i think "Bad Blood" would be one of those rare movies in which the real life person looks much better than the actress portraying that person... i think Elizabeth Holmes should have tried to become a model or an actress something... Anyway, it's really too bad Elizabeth Holmes was not able to link up with a genius like "Steve Wozniak" in the medical world... if she had, the story of Theranos would have turned out completely differently and she really could have changed the world in a positive way... As it is now, i hope she does not end up in jail... i would not want to see Jeniffer Lawrence wearing prison jumpsuits at the end of her movie "Bad Blood"...
I am delighted to add John Carryrou to my list of modern day hero. His name appears next to Harry Markopolos, the man who determined that Bernie Madoff was operating a Ponzi scheme.
And here we are today everything got kicked back a thousand times and we're STILL waiting for Elizabeth's sentencing over half a year after the trial. Absolutely disgusting
5/4/19....WOW! WE ACTUALLY HAVE A REAL---FOR REAL---JOURNALIST WHO ACTUALLY DID RESEARCH/INVESTIGATION & FOUND/PUBLISHED THE TRUTH! GOD BLESS THIS HONEST JOURNALIST!
no, privilege of the highest class. It's a world common people have no idea off what is going on there. If you know about her father and the world she lived in and grew up in, it makes (more) sense.
If It wasn't for comments like these the white privilege mantra wouldn't even pass through my mind. I guess because the word privilege causes me to think about having something most people don't have. I have the privilege to drink beer.
On the contrary this is the "quintessential definition" of favoring minorities in lieu of MERITS. In Silicon Valley women are a MINORITY in tech and especially as entrepreneurial-engineers (around 15- 20%). So thanks to SJW's, we now have a self-proclaimed "engineer" with no credentials and no experience getting all kinds of publicity and accolades. People were too afraid to actually question the minority, because that would be "sexist".
Yes....even people who are..."highly educated"....get deceived! Nothing new under the sun... .." Sure....greed is a powerful drug! Everyone wants something for nothing! Now, she's totally broke....
She's not just a sociopath. She is psychotic. She considers herself entitled and privileged. As for his comment that she assumed the technology would eventually come forth if she held on long enough, how come no one before her didn't come up with it? A blood lab tech posted a comment on another video wrote they all knew Theranos was a scam from the start. You need much more blood to detect the multitude of diseases and maladies claimed by the company.
@@PlutogalaxyThe difference is the math and technology was there for them. Computer programming had already existed long before them. In Homes’ case, nit was a matter of statistics.
She was the maker of the Emperor’s New Clothes. “Can’t you see she’s developing the Next Big Thing? You’re blind, sexist to boot! She’s not lying, don’t be ridiculous! Don’t you see it? Don’t you?”
Silicon Valley itself is full of Theranos companies, even some big ones. Fake it till you make it is the standard strategy there, but some companies make it eventually and some don't. Yet they still float and keep burning investor money.
@@zolikoff The difference is that other silicon valley companies don't do business with human lives and health. So they can afford to fake it until they make it. For example, google making a blunder wouldn't necessarily cost human lives directly, may be a data center will get shut down in some remote corner in North Dakota. But Theranos directly meddled with human lives. Imagine getting a completely wrong blood test results and taking medications based off of it.
@@brandonwiles-n8t Maybe most do not, but some definitely and very clearly do. There's Tesla for example, with the self-driving scam, plays with the lives of many people and has already led to many damages and even deaths.
@@zolikoff The trick with self driving scam is that no one is forced to choose that self-driving option. It would be problematic for melon husk if those cars had no manual driving mechanism. Theranos is like you were forced to buy a self driving car that's gonna crash eventually. Now that's a problem.
@@brandonwiles-n8t No one was forced to choose Theranos for blood test services either. But people may have chosen it because it was advertised to do something very useful, but which in reality it could not do. Thus being a scam...
Trump and Holmes. It's easy to just dismiss people like this as liars or mentally ill. But don't forget the most important thing that we teach our kids ... the first noticeable attribute is that this is a BAD PERSON . Yet still , these people are very complicated in their deceit and in complete control of their faculties. They don't change even after horrible embarrassments , because they have been caught before and this IS their pathology : They truly don't care .
Oh please, Trump is not a politician and he actually does tell the Truth. This woman is surrounded by DNC politicians who are hard at work to ensure that she never serves 1 day of her sentence.
No need to let us in on the secret, oh superior all-knowing one. Of course you must be so much smarter than us since you know what "THE QUESTION" is, and we do not. Could you be more pejorative???
Haha, fair enough o scorned one. I was on a Theranos binge and no one seemed to be talking about how it really started to unravel. What was the one red flag that led to him investigating Holmes and her company . Saw several docs and features but never came up until this. Happy now 😡 ?
@@kmh27pk - Thank you for taking the time to enlighten me. What amazes me is that, from the inside-out (versus the outside-in) there were hundreds of highly trained technical people involved in supporting fraud. So in one fairly large environment internal to Theranos, the fraud was well-known, while outside Theranos, it was a legitimate mystery as to what tiny detail led to its discovery. The simultaneous coexistence of these two conflicting tunnel realities seems very unusual.
Elizabeth Holmes' self comparison to Steve Jobs is interesting. She thought the vision was everything; all she had to do was convince investors (which she did) and then hire the experts to make her vision a reality. Similarly Jobs ran herd over his staff to make his vision real.
Holmes is a Powerhouse, she'll get back up, dust herself off & do something new & exciting. That male-dominated industry can shake her up but they can't destroy her - they Will try though. “I know that we made mistakes,” Holmes replied. “But we were trying to take this forward and at that time thought that we were doing the right thing.” No fraud just youthful ego, altruistic vision and fierce focus.
Just finished his book. OMG, Elizabeth and Sonny are EVIL. The way they abused people makes me sick, especially for Ian Gibbons who killed himself. I hope both of them are thrown in prison for the rest of their lives. So many people got back test results that were devastating. Of course, they will probably just get slaps on the wrist. $500K fine? For a billionaire? That's nothing.
I read the Book its stuning: first she hired the best scientist in the World but she put them in burn out and fired them. Second: how she managed,manipulate sue every one on her way. Third well i was fascinated by fuisz,and his personnality he keep his promis to fight her until the end and he succès.
She could have played the sexism card. Called him a misogynist man who can't accept that a woman made it to the top and had to bring her down. I bet that defense would have worked in this day and age.
No, it is Not even possible for Bill Gates. Remember that Windows went through several iterations and probably thousands of good computer programmers and hundreds of software engineers to get to Windows 7. It took years not 2 years.
...and spent a decade dressing in designer clothes, being wooed by the best gigolo big money could attract, and flying around in jets on other people's money. And it cost her what? Her excellent reputation??? Yeah, right.
Sounds to me like she watched the first 10 minutes of the movie *Gattaca* on a weekend bender and a lightbulb went off in her head and dollar signs flashed in her eyes with this "1 drop of blood" business 🙄😒 FRAUD 🤥
