It wasn't the concept that was science fiction, it was the underlying technology. There is a difference between an innovative product and a product based on non-existent or not-yet discovered scientific principles. What the non-Theranos companies are doing are taking proven science (albeit those that have yet to be implemented outside of laboratory/in vitro settings) and engineering the product. What Theranos did is start with the end product without making the necessary scientific breakthrough - or even knowing if such a breakthrough was possible.
@@raydavison4288 it's a bit more than that. The traditional approach in life sciences is to take science proven in a lab setting and put in the work commercialising it. This is what the Maverick people are doing - the science behind their machine was pretty much proven in the lab by academic researchers. The proprietary technology is the design and engineering and the practical application. Holmes' "idea" was miniaturisation of traditional testing, which was and is impossible without a major scientific breakthrough which may or may not be possible at all.
That’s were you know that it was a fraud! The technology was and is possible. Theranos had buckets of money! They had no excuse as to not being able to develop the technology! It all boils down to having spent the money on the wrong things! That makes Holmes a huge liability to the investors and now they are coming for her, because they cannot get back what they are owed. When the SEC came for her, she dealt with it quietly. Coming to agreements with the federal government and the investors that showed up for those proceedings. Holmes did not plead (neither guilty or not guilty). She simply conceded and paid the fines the SEC required of her and payments to the investors named in the SEC proceedings. When other investors AND Walgreens found out that they were not getting anything, neither the tech or their money. They took her to court for fraud. Walgreens for breach of contract. Holmes made her bed. Other companies showing that they made the technology, that it actually works, AND that the FDA approved them only reinforces the notion that Holmes knew that they didn’t have the tech, they weren’t dedicated to developing, and was knowingly and intentionally lying to investors and Walgreens!
This is the right question. The board SHOULD have asked questions and known everything. Did they neglect their duty? People relied on the board for Holmes' credibility
Wikipedia says "Early life - Elizabeth Holmes was born February 3, 1984, in Washington, D.C.[10] Her father, Christian Rasmus Holmes IV, was a vice president at Enron, an energy company that later went bankrupt after an accounting fraud scandal." Chip off the old block.
There’s nothing to suggest her father was responsible for the fraud at Enron. For a start, he wasn’t there that long and the frauds had been running for years. He was also only a VP, which really isn’t that senior in a company the size of Enron. It was also an Enron VP who was instrumental in uncovering and exposing the fraud.
She used other people’s money to lure the best and money did the trick, eventually they all involved in a criminal activity, her wide eye stares will increase once incarcerated.
Not exactly. She was hoping to use the investment money to buy the team that would figure out the problems and create the product. She was marketing the products, taking money, not listening to her own scientists, refusing to follow their recommended changes, and hoping desperately that they were going to figure it out while she was buying time with her b.s.
I think she thought that if she threw enough money at it, it would come to fruition. Which obviously is possible according to this video. If she would've been honest, she may have lost some investors but not all. And she wouldn't be facing charges.
The products were actually used on real life patients , wrong report results to wrong treatment and sufferings .don’t this come under attempted murder , put someone’s life at risk at their own cost . It is cheating as well .
Classic - give an excuse for the Board not doing their jobs and not admitting weaknesses because they were ‘charmed’ - that basically means they were incompetent for the role they got paid a lot to do, despite their accolades.
Ok, I’m one to think that it is possible to perform the tests and that the technology can be developed. But, and this is the key here. Holmes is not being tried for the technology and that it could be developed. Is about knowingly defrauding investors and putting patients health at very high risk by lying about where they ACTUALLY were in the development of said technology! It’s about the lack of transparency and the intentional misrepresentation of facts about where Theranos’ was in the process of developing the technology! Holmes was given the money by her investors to make her vision happen. And it seems from what we know that that is NOT what she focused on! Who else was on the board? What were their roles in helping Theranos develop the actual technology and provide sound guidance to make it a reality? Holmes sold investors on an idea. Remember she was 19. She had an idea. So, in the early stages the focus should have been on developing and bringing to market the technology, the machine, the tests to make good on her word. Maybe she wasn’t quite able to create what she envisioned. That’s part of R&D. But she knowingly continued to misrepresent the facts and continued to lie to investors, to the people getting tested, to Walgreens… who knows how far they took their lies. I’m sure the technology will come to market. But Holmes dug her own grave. She herself took that opportunity to be known for being the first woman self made billionaire and the first person to bring this type of technology to mass market. Only thing I’d hope is that the trial be televised. It’s an interesting case. Oh, and that the board members be made to address their role in all of this.
She had a good idea but she put peoples lives in danger by saying the product worked. Thats just evil and she knew it. If she asked for help from real professionals she may have been successful. Her ego wouldnt let her ask for help.
I would only go to a major lab.... And even then, results may vary between labs, due to the sensitivity of the agents they use to perform analysis. Doctors need to look at a patient!!!!!! Sometimes, result will be within normal range, but patient manifests many symptoms of a particular disease. Doctors shouldn't overly rely on tests. Can be dangerous...as I can attest to this myself!!!
Investing in a Bitcoin is the wisest thing to do now especially with the current price Despite all the economic crisis this is the right time to start up investment
It’s hard to believe she fooled them when you look at who’s her investors. They’re not the type to be taken for ride. It’s like they wanted her to corrupt the society by granting her ( redemption through sin)
Thank you for convincing me never to watch Yahoo Finance or any of the Yahoo News for that matter. Extremely biased and to put it lightly: misinformation.
![Elizabeth Holmes: The 'Valley of Hype' behind the rise and fall of Theranos [documentary]](http://i.ytimg.com/vi/to2GSibbrv0/mqdefault.jpg)
![Elizabeth Holmes: The 'Valley of Hype' behind the rise and fall of Theranos [documentary]](/img/tr.png)
I heard every excuse, except that they were a bunch of criminals.
Entitled criminals.
Exactly. They are just really stupid or they are all criminals.
Many news reports have a sympathetic tone for Holmes as if she is the victim.
I’m not sure anyone else feels any sympathy for her…!
The owners of the country are still in her corner. She'll be guilty... 8 months minimum security detainment.
Because the news outlets regret promoting her as the next Steve Jobs.
Be sure if this was done by anyone of another ethnicity ufff forget about it
*That's cause she's a woman.*
The Holmes saga proves that gullibility exists among so-called intelligent and sophisticated people.
That’s why Biden was elected.
Where is the database. They built a statistically significant bloodbank. Where is it. That board knows. That's why they let her go 10 years.
It wasn't the concept that was science fiction, it was the underlying technology. There is a difference between an innovative product and a product based on non-existent or not-yet discovered scientific principles.
What the non-Theranos companies are doing are taking proven science (albeit those that have yet to be implemented outside of laboratory/in vitro settings) and engineering the product. What Theranos did is start with the end product without making the necessary scientific breakthrough - or even knowing if such a breakthrough was possible.
She basically put the wagon before the horse.
@@BKai714 She lied, connived, conned and put people's lives at risk, if not outright killing people because the tests were wrong.
Theranos had an idea, but no working equipment.
@@raydavison4288 it's a bit more than that. The traditional approach in life sciences is to take science proven in a lab setting and put in the work commercialising it. This is what the Maverick people are doing - the science behind their machine was pretty much proven in the lab by academic researchers. The proprietary technology is the design and engineering and the practical application.
Holmes' "idea" was miniaturisation of traditional testing, which was and is impossible without a major scientific breakthrough which may or may not be possible at all.
99+ percent of tests are DESTRUCTIVE to the thing being tested. Simple math shows claiming moremthan one test per sample was fraud...
A very interesting presentation, thanks.
Please send her to jail....
🚀🚀
More info: ✞︎① 👆
Follow finance Guidance and Investment Advice ✅✅
4:43 so other companies actually created similar, functioning products of this type? How embarrassing for the Theranos people
It appears they had the right idea, they just failed to hire scientists to make it happen.
That’s were you know that it was a fraud! The technology was and is possible. Theranos had buckets of money! They had no excuse as to not being able to develop the technology! It all boils down to having spent the money on the wrong things! That makes Holmes a huge liability to the investors and now they are coming for her, because they cannot get back what they are owed. When the SEC came for her, she dealt with it quietly. Coming to agreements with the federal government and the investors that showed up for those proceedings. Holmes did not plead (neither guilty or not guilty). She simply conceded and paid the fines the SEC required of her and payments to the investors named in the SEC proceedings. When other investors AND Walgreens found out that they were not getting anything, neither the tech or their money. They took her to court for fraud. Walgreens for breach of contract. Holmes made her bed. Other companies showing that they made the technology, that it actually works, AND that the FDA approved them only reinforces the notion that Holmes knew that they didn’t have the tech, they weren’t dedicated to developing, and was knowingly and intentionally lying to investors and Walgreens!
Exactly! that shows the degree of Holmes and her gang's incompetence and inadequacy on many fronts.
This is the right question. The board SHOULD have asked questions and known everything. Did they neglect their duty? People relied on the board for Holmes' credibility
I would rather be done wrong by a car salesman than a chick like that.
Wikipedia says "Early life - Elizabeth Holmes was born February 3, 1984, in Washington, D.C.[10] Her father, Christian Rasmus Holmes IV, was a vice president at Enron, an energy company that later went bankrupt after an accounting fraud scandal." Chip off the old block.
More info: ✞︎① 👆
Follow Guidance and Investment Advice 🚀🚀
Don't underestimemhow deeply her daddie was involved in this massive fraud...
There’s nothing to suggest her father was responsible for the fraud at Enron. For a start, he wasn’t there that long and the frauds had been running for years. He was also only a VP, which really isn’t that senior in a company the size of Enron. It was also an Enron VP who was instrumental in uncovering and exposing the fraud.
She used other people’s money to lure the best and money did the trick, eventually they all involved in a criminal activity, her wide eye stares will increase once incarcerated.
She won't do any real time
so she was hoping that the technology would mature before word got out?
That is the long and the short of it. The only thing is that it is impossible to do. In her mind it should be possible.
Not exactly. She was hoping to use the investment money to buy the team that would figure out the problems and create the product. She was marketing the products, taking money, not listening to her own scientists, refusing to follow their recommended changes, and hoping desperately that they were going to figure it out while she was buying time with her b.s.
@@sunitamosesesq sounds plausible...but why not do that and not lie about what you can do...i guess thats greed does to you
I think she thought that if she threw enough money at it, it would come to fruition. Which obviously is possible according to this video.
If she would've been honest, she may have lost some investors but not all. And she wouldn't be facing charges.
The products were actually used on real life patients , wrong report results to wrong treatment and sufferings .don’t this come under attempted murder , put someone’s life at risk at their own cost . It is cheating as well .
Typical America! Trial by media first and then an outcry if justice is not served based on public opinion! ANYTHING to get a rating!
I think i will invent a time machine and ask people to invest in my company...lol
5 drops of blood from your finger is really painful and a lot to get that from a finger.
Nice presentation. Horrible background music drowning out the presentation.
Everyone on the board knew what was going on give me a break. They should all be prosecuted but that won't ever happen.
Very interesting...
20 yrs.
That is one creepy human being.
"That's our ambition.:
Follow finance Guidance and Investment Advice 🚀🚀
More Info: ✞︎① 👆
Classic - give an excuse for the Board not doing their jobs and not admitting weaknesses because they were ‘charmed’ - that basically means they were incompetent for the role they got paid a lot to do, despite their accolades.
Ok, I’m one to think that it is possible to perform the tests and that the technology can be developed. But, and this is the key here. Holmes is not being tried for the technology and that it could be developed. Is about knowingly defrauding investors and putting patients health at very high risk by lying about where they ACTUALLY were in the development of said technology! It’s about the lack of transparency and the intentional misrepresentation of facts about where Theranos’ was in the process of developing the technology! Holmes was given the money by her investors to make her vision happen. And it seems from what we know that that is NOT what she focused on! Who else was on the board? What were their roles in helping Theranos develop the actual technology and provide sound guidance to make it a reality? Holmes sold investors on an idea. Remember she was 19. She had an idea. So, in the early stages the focus should have been on developing and bringing to market the technology, the machine, the tests to make good on her word. Maybe she wasn’t quite able to create what she envisioned. That’s part of R&D. But she knowingly continued to misrepresent the facts and continued to lie to investors, to the people getting tested, to Walgreens… who knows how far they took their lies. I’m sure the technology will come to market. But Holmes dug her own grave. She herself took that opportunity to be known for being the first woman self made billionaire and the first person to bring this type of technology to mass market. Only thing I’d hope is that the trial be televised. It’s an interesting case. Oh, and that the board members be made to address their role in all of this.
This presenter is so gorgeous *_* Good content, by the way! :D
She had a good idea but she put peoples lives in danger by saying the product worked. Thats just evil and she knew it. If she asked for help from real professionals she may have been successful. Her ego wouldnt let her ask for help.
Holmes Straight up Played those people on the Board and All of their investors!!
finance Guidance and Investment Advice 🚀🚀
More Info: ✞︎① 👆
She must of been somewhat right to have nailed so many people..people smarter than her! The joke is definitlely not on her!
Maverick drew from her arm, not a finger stick. AGAIN!!!
Ok po
I lost over $275000 in invested in this I wanted easy money
Next time don’t invest
Ouch!
There is now a new company, which can do it. At least in future.
@@toomaskaljas1664 Geralyte
I would only go to a major lab....
And even then, results may vary between labs, due to the sensitivity of the agents they use to perform analysis.
Doctors need to look at a patient!!!!!!
Sometimes, result will be within normal range, but patient manifests many symptoms of a particular disease.
Doctors shouldn't overly rely on tests. Can be dangerous...as I can attest to this myself!!!
" ... Domain expertise in politics and stage craft ...".
Ha Ha.
Good one that.
AP
🚀🚀
More info: ✞︎① 👆
Follow Guidance and Investment Advice 💯💯
Investing in a Bitcoin is the wisest thing to do now especially with the current price Despite all the economic crisis this is the right time to start up investment
Stocks are good but crypto is more profitable
That won't bother you if you trade with a professional like Mr Gerald
I heard that his strategies are really good
He's obviously the best I invested 2000USD with him and in 9 days I made a profit of 9101USD
His success stories are everywhere 😱
It’s hard to believe she fooled them when you look at who’s her investors. They’re not the type to be taken for ride. It’s like they wanted her to corrupt the society by granting her ( redemption through sin)
🚀🚀
More info: ✞︎① 👆
Follow finance Guidance and Investment Advice ✅✅
Thank you for convincing me never to watch Yahoo Finance or any of the Yahoo News for that matter. Extremely biased and to put it lightly: misinformation.
Thanks for comment, Earn by yourself mining crypto 🚀🚀
More info: ✞︎① 👆
Follow Guidance and Investment Advise 💯💯