@@artofdeception When someone invents a new drug or medical device, it has to go through all state agencies, FDA, etc. to approve that drug or medical device! If Elizabeth Holmes started to mass produce her product, it means that she got approval for a patent, a license, everything that is needed! She started production and sent her invention all over America and the world for years! It cannot and must not be produced if it has not received approval from all inspections, commissions that are made up of experts! When one day everyone sings in chorus that she is a fraud?? How?? Can you get approval for a new drug for diabetes, migraine, high blood pressure if the FDA has not approved it?? Can you start production for a new device, measure for blood pressure, measure for glucose etc IF you don't have a license, approval?! Elizabeth Holmes have all approved
so the thing is Theranos’ device fell under the lab-developed tests (LDT) category which the FDA has little control over. So basically this means means that if a test is designed and used in a single lab, the lab can market the tests without the FDA's approval. I'm not sure how she got approved for patents but that's how they got around the FDA.
@@Plutogalaxy The US patent office has rejected patents on the ground that they didn't work, regardless of the video proving the contrary. So it should have been diligent in these 7 cases to prove that they did work.
@@Plutogalaxy Had Holmes professor, Phyllis Gardner been contacted, the trickery would have been revealed. There are different ways to prove evidence, if you try.
This case has fascinated me ever since I first learnt about it 5-6 years ago but I still struggle to understand how it kept going for so many years when it started with just an idea and no initial invention that was behind the start of most silicon valley companies Holmes tried to follow. It was just like someone saying I have a fantastic idea to relieve poverty in the world .I want to build a machine to turn a lump of stone into gold and then hiring hundreds of employees to try to build the impossible.It seems the employees were more scared of losing their jobs than quitting
I couldn't have said it better. It's insane to me how long it went on as well. It was basically a house of cards just waiting to crumble. I think it started with genuine and good intentions but she took it way too far.
I think there's some factors that were huge in this debacle: 1) She came from the right place. She's a rich girl going to Stanford who's father was an Enron VP and an heir to the Fleischmann’s Yeast family fortune. Her mother was a Congressional staffer. If she was a farmer's daughter from Kansas, her idea wouldn't have yielded so much as a presentation opportunity at a local high school assembly. Liz had blue-blood roots, she was a beneficiary to the family fortune, and her parents had business and political connections. That checks all the right boxes with the rich people that provided her startup money. 2) The media fell in love immediately with her story about dropping out of college to start her own company. Female CEOs have a horrible track record in the business world, the news media with all their feminist dealings desperately wanted this one to succeed. Holmes never would've gotten anywhere without their constant puff-pieces, they were working overtime to shove her over the finish line. Once they started pumping the story, it was very difficult for The New Yorker and John Carryrou at Wall Street Journal to make headway with their investigative stories on how Theranos was long on promises and severely short on substance. In 2016, Vanity Fair referenced Carryrou's articles on Theranos and flat-out alleged "that the company was, in effect, a sham." The dam didn't break until 2018 when Carryrou published his book Bad Blood. The jig was essentially up in 2015 and it still took years for anybody in media to notice. They had to be pushed hard into the realization, "This wonder-machine has been in development since 2003, the CEO keeps talking about their wonderful successes and changing the world, the company is worth $9 billion, but materially there is absolutely nothing to show for it, what gives?"
This is well done and it's nice to hear a woman as the voice of the narration when we are talking about financial fraud. This case always bothers because ppl just believed her on sight. No questions. Just opened their connections and wallets, but when real ingenuity and genius looks like someone like me, we usually get laughed out of the lobby (because we typically can't make it in the room). I think she was genuine in the beginning about her desire to make things better for patients, BUT she was overconfident because of her upbringing. People probably always told her yes and whatever she did was great. She didn't believe or know she had to actually learn a lot more about medicine , technology and analyzing blood work. She was full of herself due to her upbringing and that's why she doubled down even when things weren't working. Why should she stop and refocus (because things always worked out for her in life, right)? That's the true tale of this for me. She was able to do what she did because of society's assumptions and biases about who is capable and ingenious and who is not.
Thank you. I appreciate it. Yes I agree. I also think the inception was well intentioned. But she took it way too far even after she found out the machines weren't working. The most heinous part for me is the fact that she actually rolled it out and gave people wrong diagnosis. It just goes to show how greed and overconfidence can blind someone.
@@artofdeception Yah, especially the well intentioned part. I have Lupus and I'm an old pro at being in the hospital or outside the hospital getting poked and prodded for labs. It's not fun. It would have been a game changer for everyone, not just those with chronic illnesses like me. The thing about it is when whoever out there successfully does what she lied about being able to do, they are going to make the mint she lied to to make, but 10x. That's going to burn her up if it happens in her lifetime.
I'm genuinely sorry to hear about your condition. I hope and pray someone actually does bring this idea to fruition which would help countless people. sending you hugs!
Fantastic summary of the rise and fall of Theranos. She fooled many! Elizabeth Holmes fooled George Schultz, Mad Dog Mattis, Kissinger, Rupert Murdoch and more!
she only revolutiinized the art of frraud. the sad part, or the happy one, is that what she promised is actually done by other inventors without the hype.
As I understand this, she literally gambled with Real People lives! I don't like to use the word lied! But, in this situation it maybe the only word! I do in some form, think she actually may have believed her fraud! The sad heartbreaking part is what hapoened to Dear Ian Gibbons, RIP, God Bless!I am not a Dr. I AM a Nurse, but she appeared to have delusions of grandeur. Thank-you
She is a beautiful woman who is crazy and so lying comes easy to her. She was not vetted properly because “how could a beautiful woman with a line of convincing rhetoric be lying?” Look at those wide open unblinking eyes as she fools her investors and look at her eyes after her fraud is revealed.
When someone invents a new drug or medical device, it has to go through all state agencies, FDA, etc. to approve that drug or medical device! If Elizabeth Holmes started to mass produce her product, it means that she got approval for a patent, a license, everything that is needed! She started production and sent her invention all over America and the world for years! It cannot and must not be produced if it has not received approval from all inspections, commissions that are made up of experts! When one day everyone sings in chorus that she is a fraud?? How?? Can you get approval for a new drug for diabetes, migraine, high blood pressure if the FDA has not approved it?? Can you start production for a new device, measure for blood pressure, measure for glucose etc IF you don't have a license, approval?! Elizabeth Holmes have all approved
so the thing is Theranos’ device fell under the lab-developed tests (LDT) category which the FDA has little control over. So basically this means means that if a test is designed and used in a single lab, the lab can market the tests without the FDA's approval. I'm not sure how she got approved for patents but that's how they got around the FDA.
I think that her investors are as guilty as she is. I also think that fact just went on for as long as it did. Undetected speaks to the general apathy of all who surrounded it. You're everyday run of the mill. Biotech technician is going to know instantly an automatically. Something doesn't smell right in Denmark. I say they're all fools. All these people who invested and her full fool fool the ones who invested and lost deserve to lose because they let greed override any common sense. None of these people have any horse since and probably none of these people have any horses. At the end of the day I don't think she should be put in jail at all. I think she's revealing something more about the problem with their society with people in the greed of people then about herself. She's just the conduit. She's just the Patsy and she was young and she was naive and she was caught up in a cultured that encourages her behavior and all the people and all the accolades and all the journalists somebody somebody should have caught on to it long before it got as far as it did. It's the people around her who fueled her. I really don't think she should go to jail and I think that the fact that it's all blamed on only her at the end of the day again shows the greed and nastiness of humanity. I would like to rescue her somehow. Not that she's done anything right? She was in the wrong but it's so extreme that it almost booies her out of the pool of guilt
while I do agree that her investors and many others have failed to do their due diligence and are at fault, that doesn't absolve her of guilt. She knowingly rolled out faulty machines to the masses and put many lives in danger. She does deserve to go to jail. She wasn't some innocent bystender that got taken advantage of. She knew full well what she was doing.
![Felix "Unfair" | [Stray Kids : SKZ-PLAYER]](http://i.ytimg.com/vi/Oswujxm2Ag0/mqdefault.jpg)
It seems like she was trying to use the "fake it till you make it" business model. The problem is that she never made it.
Yeah exactly. But she also put people's lives in danger while doing so
@@artofdeception When someone invents a new drug or medical device, it has to go through all state agencies, FDA, etc. to approve that drug or medical device! If Elizabeth Holmes started to mass produce her product, it means that she got approval for a patent, a license, everything that is needed! She started production and sent her invention all over America and the world for years! It cannot and must not be produced if it has not received approval from all inspections, commissions that are made up of experts! When one day everyone sings in chorus that she is a fraud?? How?? Can you get approval for a new drug for diabetes, migraine, high blood pressure if the FDA has not approved it?? Can you start production for a new device, measure for blood pressure, measure for glucose etc IF you don't have a license, approval?! Elizabeth Holmes have all approved
so the thing is Theranos’ device fell under the lab-developed tests (LDT) category which the FDA has little control over. So basically this means means that if a test is designed and used in a single lab, the lab can market the tests without the FDA's approval. I'm not sure how she got approved for patents but that's how they got around the FDA.
That model doesn't work for the medical field
lol ya she made it all right...........right to prison!!!!
Investors relied upon the US patent office that granted her 7 patents. The US patent office should be accountable.
That's true. They definitely didn't do their due diligence.
@@Plutogalaxy The US patent office has rejected patents on the ground that they didn't work, regardless of the video proving the contrary. So it should have been diligent in these 7 cases to prove that they did work.
@@Plutogalaxy Had Holmes professor, Phyllis Gardner been contacted, the trickery would have been revealed. There are different ways to prove evidence, if you try.
This case has fascinated me ever since I first learnt about it 5-6 years ago but I still struggle to understand how it kept going for so many years when it started with just an idea and no initial invention that was behind the start of most silicon valley companies Holmes tried to follow. It was just like someone saying I have a fantastic idea to relieve poverty in the world .I want to build a machine to turn a lump of stone into gold and then hiring hundreds of employees to try to build the impossible.It seems the employees were more scared of losing their jobs than quitting
I couldn't have said it better. It's insane to me how long it went on as well. It was basically a house of cards just waiting to crumble. I think it started with genuine and good intentions but she took it way too far.
I think there's some factors that were huge in this debacle:
1) She came from the right place. She's a rich girl going to Stanford who's father was an Enron VP and an heir to the Fleischmann’s Yeast family fortune. Her mother was a Congressional staffer. If she was a farmer's daughter from Kansas, her idea wouldn't have yielded so much as a presentation opportunity at a local high school assembly. Liz had blue-blood roots, she was a beneficiary to the family fortune, and her parents had business and political connections. That checks all the right boxes with the rich people that provided her startup money.
2) The media fell in love immediately with her story about dropping out of college to start her own company. Female CEOs have a horrible track record in the business world, the news media with all their feminist dealings desperately wanted this one to succeed. Holmes never would've gotten anywhere without their constant puff-pieces, they were working overtime to shove her over the finish line. Once they started pumping the story, it was very difficult for The New Yorker and John Carryrou at Wall Street Journal to make headway with their investigative stories on how Theranos was long on promises and severely short on substance. In 2016, Vanity Fair referenced Carryrou's articles on Theranos and flat-out alleged "that the company was, in effect, a sham." The dam didn't break until 2018 when Carryrou published his book Bad Blood. The jig was essentially up in 2015 and it still took years for anybody in media to notice. They had to be pushed hard into the realization, "This wonder-machine has been in development since 2003, the CEO keeps talking about their wonderful successes and changing the world, the company is worth $9 billion, but materially there is absolutely nothing to show for it, what gives?"
@@Skank_and_Gutterboy you've hit every point very well. But I'm sure she won't be the last to pull of something like this.
@@artofdeception
Yep, I'm sure that's true!
But still she hasn't had to go to prison yet....
Not yet but she's appealing the sentence so it might be a while before she goes to prison...if ever
She is now
This is well done and it's nice to hear a woman as the voice of the narration when we are talking about financial fraud.
This case always bothers because ppl just believed her on sight. No questions. Just opened their connections and wallets, but when real ingenuity and genius looks like someone like me, we usually get laughed out of the lobby (because we typically can't make it in the room).
I think she was genuine in the beginning about her desire to make things better for patients, BUT she was overconfident because of her upbringing. People probably always told her yes and whatever she did was great. She didn't believe or know she had to actually learn a lot more about medicine , technology and analyzing blood work. She was full of herself due to her upbringing and that's why she doubled down even when things weren't working. Why should she stop and refocus (because things always worked out for her in life, right)?
That's the true tale of this for me. She was able to do what she did because of society's assumptions and biases about who is capable and ingenious and who is not.
Thank you. I appreciate it.
Yes I agree. I also think the inception was well intentioned. But she took it way too far even after she found out the machines weren't working. The most heinous part for me is the fact that she actually rolled it out and gave people wrong diagnosis. It just goes to show how greed and overconfidence can blind someone.
@@artofdeception Yah, especially the well intentioned part. I have Lupus and I'm an old pro at being in the hospital or outside the hospital getting poked and prodded for labs. It's not fun.
It would have been a game changer for everyone, not just those with chronic illnesses like me. The thing about it is when whoever out there successfully does what she lied about being able to do, they are going to make the mint she lied to to make, but 10x. That's going to burn her up if it happens in her lifetime.
I'm genuinely sorry to hear about your condition. I hope and pray someone actually does bring this idea to fruition which would help countless people.
sending you hugs!
Place her in solitary and lose the key when you're done!
Fantastic summary of the rise and fall of Theranos. She fooled many! Elizabeth Holmes fooled George Schultz, Mad Dog Mattis, Kissinger, Rupert Murdoch and more!
Thank you so much. I really appreciate it.
she only revolutiinized the art of frraud. the sad part, or the happy one, is that what she promised is actually done by other inventors without the hype.
like the diagnostic patch ?🤣
Are we sure that it was her, walking into that prison “camp”
Quite possibly, her stay in jail can be another fraud.
Now that's DIRECT! No more ambiguity.
How do you get to 9billion without ever producing a product or even a verified prototype? Maybe im too old.
That's a question we're all asking to be fair. It's mind boggling
@@artofdeception Your video was well done and explained things for me in a straightforward manner. Thank you.
@@tamedshrew235 I'm very happy to hear that.
The background music is terrible. Its to loud and I can't watch anymore. 😢
I'm sorry about that. But I appreciate the feedback. I'm trying to do better in my other videos
“ the device did not work and was unreliable when it came to giving accurate results.”
Somebody make some sense out of that statement.
Sorry that was meant to be "The device didn't work properly and was unreliable when it came to giving accurate results." My mistake!
@@artofdeceptionSorry I was in my grammar Nazi mode which is stupid. Nice article!
@@wilshirewarrior2783 No I appreciate the constructive feedback honestly. Thank you.
How can you not blink? Wow!
Well, tomorrow's her big day. I don't feel sorry for her one bit.
I doubt anyone would
*Theranos:* I am inevitable
*The people:* And I am Iron Man *SNAP*
That's actually funny
Holmes sold an idea without any basis!
As I understand this, she literally gambled with Real People lives! I don't like to use the word lied! But, in this situation it maybe the only word! I do in some form, think she actually may have believed her fraud! The sad heartbreaking part is what hapoened to Dear Ian Gibbons, RIP, God Bless!I am not a Dr. I AM a Nurse, but she appeared to have delusions of grandeur. Thank-you
Yeahh I also think she believed her fraud at least at first but somehow kept going even when things were not working.
She even fooled me ☹
Yeah she fooled a lot of us.
She is a beautiful woman who is crazy and so lying comes easy to her. She was not vetted properly because “how could a beautiful woman with a line of convincing rhetoric be lying?” Look at those wide open unblinking eyes as she fools her investors and look at her eyes after her fraud is revealed.
Lock her up, past the 27th April
She's currently appealing her sentence so it might be a while before she's incarcerated
Down by law! Holmes gets PUNKED. Say goodnight, Elizabeth.
Antibiotics don’t treat viruses
The sooner she is locked up the better
Couldn't agree more!
awful back round music, very annoying
Thanks for the feedback. I will be sure to pick better music and reduce the volume
I would’ve just got as much money as possible out of the pool of money and split to another country.
Lol unless you hide in a country that doesn't have extradition agreements, you can still get arrested
@@artofdeception yes of course I would dive deeper and do research if I was in this situation.
They set her up obviously 🤫
i don't believe anyone set her up.
When someone invents a new drug or medical device, it has to go through all state agencies, FDA, etc. to approve that drug or medical device! If Elizabeth Holmes started to mass produce her product, it means that she got approval for a patent, a license, everything that is needed! She started production and sent her invention all over America and the world for years! It cannot and must not be produced if it has not received approval from all inspections, commissions that are made up of experts! When one day everyone sings in chorus that she is a fraud?? How?? Can you get approval for a new drug for diabetes, migraine, high blood pressure if the FDA has not approved it?? Can you start production for a new device, measure for blood pressure, measure for glucose etc IF you don't have a license, approval?! Elizabeth Holmes have all approved
so the thing is Theranos’ device fell under the lab-developed tests (LDT) category which the FDA has little control over. So basically this means means that if a test is designed and used in a single lab, the lab can market the tests without the FDA's approval. I'm not sure how she got approved for patents but that's how they got around the FDA.
I think that her investors are as guilty as she is. I also think that fact just went on for as long as it did. Undetected speaks to the general apathy of all who surrounded it. You're everyday run of the mill. Biotech technician is going to know instantly an automatically. Something doesn't smell right in Denmark. I say they're all fools. All these people who invested and her full fool fool the ones who invested and lost deserve to lose because they let greed override any common sense. None of these people have any horse since and probably none of these people have any horses. At the end of the day I don't think she should be put in jail at all. I think she's revealing something more about the problem with their society with people in the greed of people then about herself. She's just the conduit. She's just the Patsy and she was young and she was naive and she was caught up in a cultured that encourages her behavior and all the people and all the accolades and all the journalists somebody somebody should have caught on to it long before it got as far as it did. It's the people around her who fueled her. I really don't think she should go to jail and I think that the fact that it's all blamed on only her at the end of the day again shows the greed and nastiness of humanity. I would like to rescue her somehow. Not that she's done anything right? She was in the wrong but it's so extreme that it almost booies her out of the pool of guilt
while I do agree that her investors and many others have failed to do their due diligence and are at fault, that doesn't absolve her of guilt. She knowingly rolled out faulty machines to the masses and put many lives in danger. She does deserve to go to jail. She wasn't some innocent bystender that got taken advantage of. She knew full well what she was doing.
She looks like Zuckerberg's sister.
Oh wow, now that you mentioned it, I can totally see it
She did nothing wrong nobody checked her CRAP
She knowingly rolled out machines that don't work which put the lives of many at risk. That's not just morally wrong but also criminal.
Fraud is wrong
UNREAL what an evil woman she is!!!!!
Evil indeed!
She's not evil, she isn't alive.