Elizabeth Holmes Found Guilty of Fraud [Theranos Trial Details]
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- Опубликовано: 6 янв 2022
- An update to the last time we visited the Theranos saga.
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• arstechnica.com/tech-policy/2...
• www.cnbc.com/2021/08/06/eliza...
• www.bloomberg.com/news/articl...
• www.medicaldevice-network.com...
• thewire.in/world/theranos-fou...
• www.bbc.com/news/business-584...
• www.cnbc.com/2021/09/14/eliza...
• almanacnews.com/news/2021/09/...
• www.theguardian.com/technolog...
• www.almanacnews.com/news/2021...
• www.businessinsider.in/tech/n...
• www.dailymaverick.co.za/artic...
• www.theverge.com/2021/9/17/22...
• www.darkdaily.com/2021/11/01/...
• www.theverge.com/2021/11/2/22...
• www.cnbc.com/2021/11/02/attor...
• www.nytimes.com/2021/11/04/te...
• www.washingtonpost.com/techno...
• ov/09/elizabeth-holmes-theranos-trial
• edition.cnn.com/2021/11/13/te...
• www.thehindu.com/news/interna...
• www.business-standard.com/art...
• www.reuters.com/business/heal...
• www.businessinsider.in/tech/n...
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Thank you for making a follow up video on this.
The original Theranos video you made was what hooked me to your channel.
Me too!! The first theranos video was good!
Exactly, now let's wait for Mark Zuckerberg's turn.
@@rosequartz2290 lmao what?
Her biggest mistake was defrauding the juiced-in political / corporate class.
If she focussed on ripping off only ordinary people, she's probably have a job at GoldNut Sachs or Blackrock right now 😂
What this woman has done, though egregious, pales in comparison to the fraud that culminated in the 2008 financial meltdown (that we are still paying for because of QE and the resulting horrendous inflation)
She is facing the full and swift reprisal of the federal government... those guys just got a slap on the wrist and got to keep their ill gotten gains lol
There is no greater showcase of the 2 tier system than this.
Ripping off Johnny Main Street is always the way to go xD
lol the _iphone of the medical field_ it still is since iphone was famous for great marketing and lies, iphone is a touch screen based thing (a rip off of a pda) it crashed alot couldn't even get it to have cameras until people jailbroke the thing, they released firmware after firmware to block jailbreaking but stole their ideas eg copy and paste existed as a jailbreak tweak before apple copied it. Apple succeed through marketing no innnovation
The problem is that these sentences are served concurrently, not sequentially. And with only $1M in fines ($250k per count) she could walk out of prison in 5-7 years a rich woman, defiant and ready to scam again. Meanwhile people merely accused (and not even convicted) are rotting in Rikers Island because they can't come up with $1000 bond for a misdemeanor offense. The lesson is that rich people crimes are simply a small price of doing business. The system is a joke.
Wouldn't all of her asset be seized?
Welcome to USA
I agree man. If this bitch doesn't get serious time then it would be all too clear again that the system is rigged in favour of the rich and their corporations.
Agreed, only "1 million" dollars? That's lunch money to these conmen. Hand slaps for rich people? Gee, that never happens. Welcome to 'MuriKuh.
Yup, first time offender and white collar crime. I would honestly be surprised if she even spent 5 years in prison
I once stole bubble gum from a small corner store and I was caught and got treated like a murderer. It amazes me how theft on this level happens and yet they live life to the fullest.
I stole a free pin, (literally dead front of the counter) as a 4 year old, feeling like a master thief. Then mom treated me like a criminal and had to return it
Are you a man? if so then it makes sense why you'd be treated like a murderer for stealing an insignificant piece of gum. Men must be held accountable for their actions. Sunny will face the max sentence. Women white women blue eyed pregnant women don't have to be held accountable for anything. Civilized Westernized Society in 2022 is designed for women. The laws, the tax code, the legal system is all setup for certain class of women to be immune from guilt. Holmes will not accept culpability for her actions because she feels in her mind that she did no wrong. This is how entitled she is. No one ever told her "No" her whole life.
Blond Hair, Blue Eyes, a woman. I mean do you need more clues
Cia
You stole gum??!?! Wtf?!?! Do you have any idea the harm you caused?!?!? I guess that's just how you was raised...
As someone who worked for almost 40 years developing blood diagnostic systems for multinational company... we knew immediately that her claims were total bull shit when they were made public. It was amazing how many gullible people fell for her lies without proper vetting her first.
It’s not just that gullibility it’s that lack of needing an expert when expertise is critical. I can understand not understanding I can’t understand putting it on the cover of my business magazine without vetting
And the way a group from the jump can be honest and just get ignored and thrown to the back of the story till after the damage it gets a pull quote from who wasn’t listened to at first
I doubt it.
So many people are desperate to "get rich quick" that they will fall for anything. And having money to invest doesn't make you immune to this, they want to "get richer quicker".
I’m amazed no one has asked how you guys knew her claims were immediate lies. What were a few examples of her claims and the realities that contradicted them? I’m in aviation, if someone tells me they can extract hundreds of lines of data from a single blood drop, I would not know if that’s a credible claim or not. I would love to hear your thoughts!
she definitely deserves to have more charges brung against her. The fact that jurors could not unanimously agree on these serious issues that did indeed occur, makes me believe she could receive a sentencing that's only a slap on the wrist.
I think the jury could not understand alot of what was going on. There should be professional juries
Hi, I'm from the future - she got 11 years (to be served after a 3 month baby bonding period) in 2023. If she appeals (she will) it might be 2024 before she starts her sentence.
Considering how many charges were excluded from the verdict, her conviction was generous.
Always is for the rich. GIZZY only got convicted from 1 victim in sexual trafficking
And will live in a luxury prison
Slap on the wrist, fine/restitution at a fraction then off to tennis camp prison for a bit.
Couple the fact that she’s rich with the fact women get lower sentences for the same crimes as men, I’m not surprised.
She's white
It's funny how she was very fast to accept praise, but as soon as there was any negative coming back, she relied on the trusted "I'm just a little girl". I hope she gets a decade in jail at least.
20 years isn’t enough honestly, and she’ll still be rich when she gets out, but it’s something. I just hope she serves all of it
@@coyotelong4349 if this were a white male you wouldn't say that. stop being a misogynist
@@bryanjk I'm interested in your point of view, would you mind elaborating for me? I would like to understand what about their comment leads you to believe that they would only want someone to serve as much time in prison as possible if they're a woman?
Clear communication is valuable to me, so I want to understand as many different viewpoints as possible.
@@bryanjk I see you trollin', you hatin'
People were also very fast to give praise. She may have been the culprit, but don't forget her investor buddies who are still in denial that they got scammed.
I am 3/4 of the way through *Bad Blood* by John Carreyrou, and based on that, I'd say she deserved MORE. She absolutely knew what she was doing. She shut down, fired, or sued anyone who told her the truth about her failed "invention."
her mistake was scamming rich people, if she had targeted poor people, she would have got away with it
Well she is rich herself(born in a golden cradle)so regardless she will probably get away with it anyway
She scammed people… no feeling…
yes
Just like Bernie Madoff, right? Oh wait…
And she's good at it! Couldn't believe about the husband!
What kind of rich idiot you have to be to marry this widely known schemer? What a twat!
No wonder she's pregnant!
Using the “abused woman “ card is very unfair to those women living in poverty and being really abused
It works so often though! Such an easy way for women to shift blame. "He abused me and forced me to do all this."
How could u say that!!!
Don’t you know how mentally taxing it is to live in 5 star hotels, ride first class flights, have 24/7 attentive servants who take care of all your problems! The trauma of living comfortably and luxury, and the stress of deciding which meal from a 3 Michelin star to airdrop to your 10m mansion is just as traumatic as someone living in an *ACTUAL* abusive relationship.
Many woman in poverty abused their children
Abuse against women happens at every socioeconomic level. Not defending Holmes at all but intimate partner violence isn't linked to living in poverty.
@@sarsarluv6 Yes it is, rich people don't get it because they have lawyers and cameras i ntheir houses to catch everything.
She deserves to be behind bars just for her fake voice.
Let alone her giant scam.
Women is being the victim of patriarchy throughout history
And crazy eyes
@@deepgeny1 relevancy where?
@@deepgeny1 and your genius, ground-breaking point is?
@@deepgeny1 doesn't excuse scamming tons of people lmao
"Thousands of tests with a single drop of blood..... " I don't know man, that statement alone is too good to be true and should've been the downfall of theranos right away but why no one challenged it boggles my mind 🤔
Exactly what I have always thought. Seemingly intelligent people falling for this seems incredible. You didn't have to be a medical expert to see what she claimed to happen was just not realistically possible. 1000's of test from the same drop of blood? Heck if she just been able to do the 10 or so tests it could do at all reliably she could have been successful.
Yeah but it works. Look at Elon Musk, he's still getting away with it!
@@craigb2279 "Stunning and Brave"..."Strong independent"...
Everything about this case makes me so angry. As a women who actually studied and finished a degree in biomedical engineering from an accredited institution and now pursuing a master's degree, I (along with so many other women) are constantly held to a different standard than men in the field. I've had my ideas dismissed by people in higher positions, where they later take credit for those ideas themselves. I've had men in other industries, including my own, questioning the depth of my knowledge, which I've spent the past 10 years cultivating. As a woman, and I'm sure others will speak to their experience, I have had to provide every piece of justification for a device. I had to have working prototypes of everything, and then I had to provide the design history of those products for it to be taken seriously. It is already so difficult as a women in engineering, and then Elizabeth Holmes (a dropout with no medical background) comes and produces this idea of science fiction, entices a bunch of laymen that this idea will "change the world" and gets millions of dollars. She has made it so much harder for women in STEM in a myriad of ways, and she seems to show no remorse for her actions. It's a shame that she wasn't found guilty for many of her convictions, because she is truly guilty of them all plus some. I hope she gets the full sentence for all the wire fraud charges.
Also, as someone with regulatory experience, it is actually really easy to bypass some FDA standards in medical devices. I'm not surprised she was able to go so long with her charade. A good way to know if a medical device is safe to use is if that same device is being sold in the EU (the regulations there are much more rigorous). Of course, not all of them will be sold like that. The FDA lets you search for medical devices and the regulatory status of those devices on their website (in case you are interested).
"When confronted with accountability, always pull the abused victim's card."
Elisabeth Holmes.
All part of being empowered. Ironic irony ie predictable irony.
"When confronted with accountability, always pull the abused victim's card." -members of the tribe and women.
@@TheBelrick Truth. Both respond to the truth and accountability like sunlight to vampires. The only difference between the tribe and women is the tribe acts in unison with logic whereas wahmen deflect, reflect and invent their facts that suit them. Second and lastly, women hate each other and can't cooperate or accomplish anything as a team without male guidance or help, whereas 'they' are the most cohesive group in the history of mankind.
Sounds legit. An abused victim who flew in private jets, stayed in the most expensive hotels and had personal assistants to buy her designer clothes 🤔
When shit hits the fan, this is your empowered woman.
There's a saying:
"There are no feminists in a house fire."
4:26 "Theranos went for years without having its internal finances audited" - - And none of the investors took notice of that, no investor requested an audit
And then they would have a formal evidence that they're aware of the reality and would had to interver. They gave time to her increase the rope alone, that later she used to hang her reputation.
Yes it's weird "No Audited Financials" in 4 years of activity.
Exactly the phrase that impacted me. I watched thinking “here we go again”. Despite the claim, “lessons will be learned”, when it comes to potentially exponential returns for investors, “turning a blind eye”, invariably prevails.
damn
War dogs
Found your channel yesterday and I like it a lot. SUPER good story telling, and really satisfying to play in the background while I play video games :)
Im honestly so happy Dagogo and his channel are finding success! This gives me hope that millions of other people out there are hearing his awesome, educational and truthful takes on fraudulent practices throughout all important aspects of societies systems! Well done Dagogo and keep up the stellar work!
“Other companies working on this problem will forever be looked at with skepticism.” You said this like it’s a bad thing. When it comes to health, safety, and finances, skepticism should be the norm.
Not necessarily, e.g. if it discourages further investment in the field.
@@billwilliams328 I would rather have more skepticism than junk investments.
If they are transparent, unlike Theranos, then they'll get the investment they need. Theranos knew their shit didn't work and was overly secretive, it was obvious something was up.
Agreed 100%.
It's become way too common in recent years for people to get hyped up for whatever new tech 'innovation' is announced, regardless of how realistic it is. And usually without doing actual research. It might sound harsh, but being cynical and pessimistic is healthy in our modern culture.
Pfizer....
"You know, I'm something of a scientist myself"
- Holmes
LOL - MAGA
99% scam
1% science
🤣
except norman osborne was actually a scientist
classic... XD
Great vid! Love the end instrumental
Great work!
100% deserved more. This case was a huge loss for integrity in medical research. We will see many more like it in the future now due to the ease in which she was able to dodge the real issues. Wire fraud? Ffs
Here I am in germany and wondering how the fuck anyone would want her rotting away for that long - that just reeks like a lust for vengeance. Instead, resocialize her, make her do good for society. Seize her assets, do something useful for society with them. Have her use her skills to fund actual medical research, fund medical treatment for peple who wouldn't be covered by their insurances etc.
@@RevCode What skills? Manipulating people? She is a flat out sociopath and narcissist. Let her rot.
@@Hypersonik You say that based on what criteria?
Yes, she is undoubtfully good ad manipulating people. That usually transfers well to other things, like educating or presenting to people, convincing them.. basically something in the political spectrum or whatever else needs communication with or convincing of masses of people.
If in doubt, or denying to do that, anyone bodily not disabled is able to be handed a set of cleaning tools and told to clean some public places and toilets.
@@RevCode so you saying we should make this bum head do infinity community service
There are already giant problems in medical research, like the poor quality of many studies, their redundancy, their ties to sponsors, etc. We like to think of such things as vastly more noble and clear-thinking than they very often are.
And this is why I like Dagogo, he followed up on a story to give us the update to complete the arc which he started. Also, I'm glad that Holmes is found guilty, medical research is no joke. Great job as usual !!
He hasn't done so with Hyperloop or any of old musk's false claims
@@commonsense7754 Hyperloop is actually possible wtf you talking about? Holmes' idea might be possible but definitely on a much longer time frame than Hyperloop.
@@commonsense7754 Elon has a cult around him, I doubt people are gonna see through his lies anytime soon unfortunately
@@TheSkyraider vaporware salesman at best
@@commonsense7754 if you want Musk-dunking, no one does it more entertainingly than Thunderf00t
Thank you so much Dagogo 😊
Oh, man! didn't notice that you made a follow-up video on this.
I'm really glad you did! I feel like a child on Christmas!
She's the result of a culture of fake it until you make it. But she's still responsible for her own actions.
Steve jobs wannabe. More fakes followed in her pursuit of job's black turtle necks
@@tomvonneefe4269 ikr Same as that Nikola guy
Well... you tend to need to be doing something a bit more realistic for that strategy to work out. Lol
She's more of a fake it, try to make it and then completely break it. Her parents riches will probably be able to buy her an easier life in prison tho.
@@tomvonneefe4269 - Even Jobs' was given the boot, from his own company, until he learnt how to put a lid on his flaws and control his narcissism, but Holmes completely stripped Jobs in the narcissist arena.
Great to see this considering I had first heard of this whole thing from here!
Me aswell
Total sociopath I hope they put her away for 30 years
Me too!!!
Really? Which country are you from? This is a huge story in the US
@@TheGbelcher I’m from the uk. What I mean is coldfusions’s very first video on this is where I first came across the case.
Hey dagogo amazing video as always👍 can someone please give me the name of the outro song cos it is fire🔥🔥
The story reveals fundamental faults in modern economic society, where certain behaviours that are frowned upon in general life is deemed as competence. The cavalier and manipulative social skills used by Holmes usually leads to people like her going through life through a series of social circles, as each gets fed up with the lies and resource predation. But in the corporate world, many of these traits are seen as admirable and can elicit high confidence. When the shit hits the fan, those with the real power - investors in possession of venture capital - make examples by punishing the very sort of person they explicitly look for and raise up when fishing for investment opportunity. This of course is a monumental waste of capital and human resources.
Well the real flaw that what Elizabeth Holmes represents is do we fall in love with her ideals or did we get taken in by her personality. This is the flaw with entrepreneurship is do we get taken by their idea or themselves because there is a difference. This applied to folks like Elon Musk, Jeff Bezos and the list goes on these are individuals that have successes under there belt but have very dangerously passionate cult followings that hold these folks on a pedestal that they can't do any wrong and that's the problem. It's this very flawed hero worship.
@@808INFantry11X There is no version of hero worship which is not flawed.
Can we stop calling her a brilliant thinker. She was a con artist, nothing else. She also couldn't convince anyone that knew what they were talking about, so we only know about her as she was good at getting money from stupid people. If I say "I want to make glasses that allow you to predict peoples future medical issues", I am not a brilliant visionary and genius unless I can make it a working product.
Well SAID
a brilliant scam thinker for sure
Con artists can be brilliant. What gives you the notion that she isn't? Because she committed multiple crimes?
The fact of the matter is, she was smart enough to trick pretty much anyone and everyone around her to get what she wanted.
It's exactly for that reason that she was found guilty of fraud, because the jury knew she willfully manipulated people around her.
Why just her?!
Why not focusing on people like Elon musk nueralink or quantum computing guys or reverse aging technology guys?!
They are all failing experiments with failing contributions
A futuristic dumb technologies
Put to them James webb stupid telescope
Put to them the futuristic dumb flying cars what else to remind you of such an examples all under experiments for loong loong time and the results will fail absolutely
And when I say those guys I mean (investors)
She isn't alone in this !!
@@kolooolkolool515
The difference is spaceX actually launches rockets.
Good video
It’s absolutely insane how scientists working with blood tests knew this was impossible al along, but no one seemingly bothered to ask them. I guess people must’ve asked them, but no one wanted to be a nay sayer, or was brushed aside.
They probably didn't want to admit that someone had come up with an "impossible" solution, and it wasn't them.
The company's lawyers would sue anyone who looked at them cross-eyed if they said an unflattering remark about Theranos. All scientists could do is speak in broad generalities about why the machine shouldn't be able to do x or y.
A huge issue is whether high level fraud, stealing millions, is treated the same way as a low level robbery.
Not the same way but less serioulsy than low level robbery. Some people in your country get decades in prison for robbery. Your system is broken.
We all know the truth of that matter...
@@amine3306 Robbery involves causing distress to people with threats/aacts of violence. Fraud doesn't.
That's why robbery is generally treated more seriously. People who keep shitting on the system should really learn the context behind them. If she did a Heat-style daylight bank robbery to get millions, she'd get a harsher sentence.
@@LamborghiniDiabloSVPursuit I get your point but if you look further, a fraud has more chances to cause people comitting suicide or live in poverty.
I think you mean low level theft. Robbery is to steal with the use or threat of violence, a very different crime from theft.
I like how she enjoyed the fruits of scamming investors and the public, endangering pregnant women and other customers, but the second things finally went south she used the most generic baseless excuse: "muh ex abused me and that's why I was lying".
True feminist icon indeed.
The very person who should be taking full responsibility... well... isnt. More of a bad woman than a feminist. She should have ran for a seat in congress. Might have made a success being a politician.
These are the type of excuses that pisses me off. These type of people will always find away to deflect the blame and land it on someone else. Worse kind of people.
The pharma industry is currently making record profits from an even bigger fraud that's actually killing people.
Typical woman always shifting blame and never taking accountability
@@GTS300Coupe not you using one terrible person as an excuse to demean an entire gender
Very impressive piece of journalism
That end summary of the specific difficulties with Theranos technology is excellent. So much of the coverage on this case centers on her wardrobe, her blond hair and her (false) low voice
I just don't understand how she was not guilty of defrauding the patients.
Investors may have lost money (better due diligence!) however, the patients were potentially endangered and put at risk unknowingly. She was selling medical equipment it is absurd to say she didn't consider the impact on patients.
Likely because she wasn't doing it directly herself
Money talks bruh
From an Engineering standpoint it was up to the Doctor to interpret the blood test results and probably rerun at a different laboratory. It would have been a different story if Theranos was a Pharmaceutical company and patients (customers) had bad side effects or god forbid even died.
capitalists don't care about the poor, only rich investors
youd think endless promises and a faulty machine that could have actually impacted peoples lives negatively would have been enough to see the issues straight away, and charges be placed immediately. imagine if someone important got a flawed result and ended up dying from it. the fact that it went on for 10 years is insane to me.
That tells you that the most valuable commodity in the world is trust. Money is a form of trust (trust in the value of the money backed up by the State, ie trust that the State and other institutions will remain stable long enough to vouch for its value). Trust itself can get you money and the opportunity to make money. A company hiring an employee is trusting that they will fulfill their tasks as expected... Holmes knew how to abuse that trust to create her media image and lavish lifestyle, but when there's no real value behind, that can only go so far.
Shows what deceptive practice can get ya w/ millions and billions of dollars backing you up. When heavy weight investors think they'll be able to grow their empire, they see nothing but the dollar sign.
The top 4 richest men increased their wealth by massive amounts in 2 yrs solely due to the scamdemic. That has to say something in itself..
We live in the age of hype. In the post industrial econmy hype is a currency in itself, the fraud based economy of silicon valley is a prime symbol of our times.
Yes. 10 years of lies and fraud. But Elizabeth Holmes doesn't hold a candle to Bernie Madoff and his tens of Billions of dollars Ponzi scheme that went on for decades.
ruclips.net/video/3wUJesUik5A/видео.html
@@gebali medical fraud is far worse than financial fraud my friend
Her sentencing was supposed to happen in October but was delayed AGAIN (her lawyers are using every trick in the book to delay her sentencing). Probably will be another few months now.
Wrong
Good. Get her into jail. It isn't just about her terrible behaviour, it's a sign to other companies that would defraud investors and the public, with blatant lies and dysfunctional testing.
Yeah one down 1000+ to go in this clown economy.
She sat with Bill Clinton and Biden. That should've been the first red flag.
man steals a bread, he's facing a stiff sentence; politician of well-connected fraud steal billions from the RIGHT people, nothing to see here ^^ .. and finally there is Bernie Madoff, he stole from the WRONG people ))
@@LSK2K Get off your horse and go and get vaccinated.
@@kellypaws the democrat took it personally. He lied to you, get over it. This is what they do lmao. Seethe hard cope harder.
Hype blinded people in a way that is what worries me the most.
bussiness is done like that. she could not delegate the work to people who got things done and that was her real problem and crime
its nothing new, that's human behaviour, we fall for it everytime like a cat with a tin foil ball.
Hype is not the problem Kaysha. Greed and lack of any real understanding of science, physics or use logical thinking is the problem. Most people in this country don't have the mental capacity to think their way out of a paper bag. Just the simple understanding of math would tell you that a very small sample as in "one drop of blood" is likely to be to small a sample therefor inaccurate. Consider if you were testing for something that only occurs in 1 in 10,000 people and you only tested 2 people what are the chances you would find what your are looking for?
yeah almost like the current situation around you.
People don't have the basic understanding in science so they tend to be gullible. Research on the part of the investor and the science should be solid. These things makes you a great investor.
The story with the woman who was told she wouldn't have a healthy baby because of the Theranos test is TERRIFYING because in certain states, she could have had an abortion due to that prediction. Can you imagine aborting your (doomed) baby, only to find out the blood tests that told you to do so were completely flawed? Living with that guilt would be unimaginable. It's lucky that the woman chose to continue the pregnancy and deliver a healthy baby.
This channel and "FINAUS" are the best channels. This one focuses on Companies and Finaus focuses on Individuals in Finance. I wish yall would do something together. Both great channels, keep soaring.
I personally have been so tired of these start-ups with no products making too much noise and too much money while real products in someone's garage never see the light of the day because all the funding goes to these scammers.
It’s laughable how these “big” investors actually took everything by words and never thought of validating anything. And not just one, she actually managed to fool so many of them. This probably happens when an Investor has tooo much money and he has absolutely NO idea what to do with it. I guess this lady knew her prey pretty well.
It's a characteristic of the system. The stock market is detached from the "real" economy of producing things that work. Instead, hype and governmental policies are more important. There are lots of "successful" companies that don't make money or only made money after years of losing money: Uber, Lyft, Tesla, Amazon, for example. There are lots of "successful" companies that made most of their money due to irrational behavior on the part of purchasers: Apple, Microsoft, for example. So the big investors are gambling on companies becoming unicorns before they actually have to deliver in the "real" economy.
She was 'one of them'... or one of those with whom they wanted to be associated with.
You can't exactly know the inner details of the companies you're investing in. I'm an investor, all I know about the companies I hold shares in is the press releases. It's not our fault a mega corporation chooses to post fluff.
Not only that, but if you're an insider holding shares and you're being shared valuable information while basing your trading decisions off of what you're being told can be consider insider trading which in itself is a crime.
Why just her?!
Why not focusing on people like Elon musk nueralink or quantum computing guys or reverse aging technology guys?!
They are all failing experiments with failing contributions
A futuristic dumb technologies
Put to them James webb stupid telescope
Put to them the futuristic dumb flying cars what else to remind you of such an examples all under experiments for loong loong time and the results will fail absolutely
And when I say those guys I mean (investors)
She isn't alone in this !!
@@BenderBendingRodriguezOFFICIAL not true, this was a private company. The investors didn’t do their due diligence and most likely did have a right to know what the company was doing with their money.
Most venture cap firms did not invest in her because they did their research. She targeted older people who for the most part did just take her word for it. She also lied to them, so it was pretty shady all around.
Thank you for the follow up. Personally I don't think that she'll go to jail for very long. She's a sociopath - not a diagnose, just my impression - and knows how to play the system. And a fine of one million? What a joke, that's petty cash for that kind of people.
The courtroom sketch at 6:05 is absolutely terrifying. The mask’s window did not translate well into the sketch.
I would like to thank each and every juror for not falling for her lies.
Oh but some of them did! One juror even felt she was "too young" to spend life in prison
@@brockhemming That juror will later beheaded
And I'm sure they'll personally acknowledge and appreciate your gratitude (Idiot).
excuse me? this woman should be behind bars already for at least 30 years! didn't happen. whats wrong with the law these days?
@@motulifelikefigures1987 rich
It took 7 years and in the meantime she enjoyed her ill-gotten gains as a millionaire. Her sentence was less than people who got caught smoking weed. SMH
N Great channel you got here...coldfusion
What is the name of your outro song to this video?
Um the real question is who in the hell was on the Walgreens deal and who didnt do their due diligence and check out if Pfizer had endorsed this product....thats literally a $150m phone call.
"It has the logo on the page, must be totally legit!!"
Yeah, that's mind-puzzling, but sadly not unique. It's as if, when the numbers (of dollars) on the pages end with enough zeroes, sheer greed takes over and ends all common sense.
Walgreens was afraid of losing out to CVS Pharmacy
Thing is Walgreens did have someone to veto the technology and he raised many questions to Elizabeth since he wanted to see a live demo (she wouldn’t let him see it, only reports). Liz complained to Walgreens seniors saying that this person was not needed in the meetings and actively stalled the negotiations process and then Walgreens, filled with FOMO, excluded that person from all meetings going forward and ended up signing the deal.
how disapointing is it that she was found guilty for counts related to investors... but not actual patients that were diagnosed erroneously and potential miss-medicated or worse... guess money first life second... not impressed... I would set her free then...
Sadly it is much harder to prove the charge about patients, because she was an extra step removed from them compared to the investors. Making a direct link to her is therefore harder :(
The only way a billionaire in the US can go to jail is stealing from other rich people. Those who caused the opioid crisis, and therefore responsible for hundreds of thousands of deaths, never got punished. Nobody got punished for the 2008 financial crisis either, they were rewarded instead. And so on.
Capitalism is one hell of a drug.
I immediately saw that and was disgusted by it. It's not just an example of how problematic capitalism can be, however, as one of the jurors admitted to believing that they thought Holmes was simply eager and overly optimistic and never really intended to committ fraud
I totally agree those investors should have done their DD, if they had maybe EH wouldnt have been able to dupe all the clients. If the only thing she is guilty of is deceiving investors then a small fine is appropriate.
Hello, I'm new to Bitcoin trade and I've been making huge losses but recently I see a lot of people earning from it. please can someone tell me what I'm doing wrong?
All you need now is a professional trader else you will continue making losses
That is true, you need an expert broker and account manager to make good profit from Bitcoin trade
Before trading for yourself you need to learn how to trade
Or get yourself a legit manager
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Could you do a video on the balwani conviction?
Your channel was were I first heard about Theranos. I was hoping for a follow up and was excited to see this in my notifications!
Same for me. When i read the news, knew Cold fusion would come with a vid. As always!
I remember seeing it at Walgreens in 2015, that’s how I first learned about it
yea, whenever I hear theronos coldfusion runs parallel to it.
Stop sucking up and trying to leach
I absolutely loved your conclusion, I am a founder and CEO of a chemical technology company, and given how many hoaxes there have been in our space of sustainable plastics, most people looks at us with extreme skepticism. Finding partners is hard, everyone just wants to keep using the same polluting and toxic plastic and won't open their eyes not even to a clearer-than-sky groundbreaking innovation, all thanks to unethical predecessors.
thats awesome to hear about your company. i wish you luck. Id invest if i had $
*I just love that even intelligent, wealthy people can be duped by a con-artist. This is what we call Karma.*
Being smart and earning money is a bad thing? Intelligence should be punished? I don't think you understand what 'karma' refers to...
@@someguy4915 wtf are you talking about? At what point did I say ANYTHING about earning money being a bad thing, or that "intelligence should be punished?" STFU.
Co-Fu's videos are very interesting.
She wants to be Steve Jobs so bad that she's dedicating her life to the -cellphone- cellblock.
Steve jobs was also an abusive person/boss and also a liar. So she copied that well.
@@ninadganore History has shown they all are.
Some just survive them very well or just inject their wealth to rewrite history...
@@N0N0111 exaggeration aside, steve was a cut above the rest when it comes to being evil.
As part of her punishment, she should be ordered to make TED talks on, “How to start and loose a business and go to jail in 5 years.”
You are the kind of hero we need on the supreme court
love this idea
Title: "First they say you're crazy, then they fight you and then all of a sudden, you are locked up in jail for wire fraud."
@@timschmitt7550 The worst thing about this is that if the crazy lady's underlings had actually managed to pull a serviceable product out of the hat, the world would be singing her praises
She just might be on the stage in 12 years time!
You can conduct tests from a diminutive sample of blood. You can conduct multiple tests on a sample of blood. You can also run blood tests on analytical devices the size of a desktop computer.
However:
- There are only a few types of tests in which a blood drop is acceptable.
- There are limits to the number of tests you can conduct on a sample due to it's size and heterogenous compatibility of tests (some tests can't be performed at the same time).
- Analytical devices the size of a compact PC or mini-fridge usually can only do a few tests at most.
Consistently accurate and comprehensive blood tests on a drop-sized sample of capillary blood is impossible
This "brilliant thinker" excelled at lying, cheating and just good old deception. I wonder why people have such a hard time of letting go of this notion of "brilliance."
I caught that too
she was found guilty of scamming the rich, but not for the dangerous positions she intentionally put at rish the health of the less fortunate. Amazing society
and somehow a bunch of people in the comments think jusice was served
I am fairly sure that I signed an NDA to work with Theranos before the scam was exposed.
I was working as a medical data production analysts and the company I worked for was going to provide analytical services for Boots. The really weird part was that we all had to sign an NDA but were never told the name of the company. A few months later everything went quiet - this was around 2012.
The scary part of all the fraudulent cases is that the money gets defrauded, then recovered sometimes. But none of the money every gets returned to those it was stolen from
This story is so sad, as a scientist i only see greed and unethical false crucial results that decides medical decisions. That the investors where scammed is there own fault but the patients are the real victims..
It's telling that she's been convicted of just wire fraud against investors. As to the ordinary punters who got misleading, potentially life threatening, medical diagnoses, f#@€ them.
Originally found you on your coverage of the Theranos scandal, stayed for the chillest music you've made, and hooked even further with this update!!
Amazing work so far! Looking forward to your take on more coverage on modern scandals, like the gaming industry's apparent decline, the nasty business of NFT's, and many others.
Happy new year to you, man! Wishing for nothing but the best for your 2022!
Thank you for the follow up, but I'm hoping you'll maybe do another. I checked today, and it looks like she's living in a luxury $153m dollar mansion with her new partner (a young guy who did well with real estate). I don't see any mention in the media about Holmes sweating a jail sentence ( which i really dont understand)
What i will never understand is how no one with even the most basic understanding of how blood analysis works, not seeing Theranos at least not being possible and likely being a scam… for many tests you need a certain amount of blood to ensure that the thing you are testing for is even in the sample and at a high enough serum level to be detected and detected repeatedly
People get fooled by social media memes touting medical advice all the time, although the majority of those people are in a different crowd to the ones investing in Theranos.
I am so glad to see people like her, someone that has gotten out of every bit of trouble she ever fell into, is finally being taught a lesson. Trying to shift the blame and pretend she was being controlled by a man ignores everything she has ever done.
It was her idea, at age 19!!!
Something wrong in her head. Sociopathy?? The nicer word.
What's the lesson she's learning exactly! She never spent one night in jail, never was financially ruined, she went on to live a fulfilled life even marrying wealth.
@@kmartin1550 no reason to be a contrarian just because you are a negative person. She was found guilty on 4 counts and faces minimum of five years in jail. Pretending that is not a punishment and she got away with it, or that her professional career is isn't over is just ignorant.
@@Bound4Earth You can call me what you want to but I didn’t lie and swindle billions of dollars out of people while also putting lives of many other people in jeopardy and potentially thousands had it gone on any longer!
@@Bound4Earth oh nyooo she has to sit in jail for 4-5 years and then return to a mountain of money securing the rest of her life. what a punishment
"You're guilty of defrauding a bunch of rich people!"
"What about endangering a bunch of poor ones?"
"Nah. They are replaceable."
Exactly. We can grow more meat for the machine to function. However those that tell the machine what to do.
Honestly, this is what's most worrisome to me...
🇮🇱
I think Walgreens should also be held accountable for believing her without evidence. They are accountable for putting those devices in the stores. Her punishment is nothing. She literally put millions of people in danger.
What´s the song at the end?
I worked on a combo immuno chemistry medical diagnosis machine for 8 years of my life with the company putting over $500 million into it. It was revolutionary based on the number of tests it could run and the volume per hour it could chew through. The machine was as big as a car. What happened? The project was canceled because some of the many tests it performed got contaminated by prior samples due to the inescapable way the the technology worked and the chemistry performed. Theranos is a disgrace to all the engineers, scientists, chemists, biologists and the thousands of people in that field that make a difference to peoples lives daily. I hope she gets the book thrown at her but somehow I don't think she will.
I love your story telling style. I enjoy every single video of yours. thank you for making great videos.
She definitley deserved more. Not only is it a miracle no patients were hurt from giving wrong treatments from faulty theranos bloodwork, the damage she has done to the reputation of the blood test research field is immense. Moves like this that scare investors out of fields are capable of setting technology that could save peoples lives back by years or decades in some cases, i cant imagine the impact of what shes done that we will never be able to directly see.
I wish you had used the same intro music you used in your previous Theranos video.
This is what happens when a country allows companies to do things without regular audits.
But if a private citizen tries to pull anything for even a year, they'll be in prison.
It's strange because it's quite common that large companies are routinely audited every year. Perhaps it was the immense power of her crooked supporters that kept the ordinary measures away.
Cool it with the antisemitism.
@@TeemoTemosson Wat
@@TeemoTemosson IF THE SHOE FITS
The Sarbanes Oxley Act enacted after Enron definitely helped to prevent a lot of the accounting tactics used to conceal losses and other financial detriments by mandating public companies adopt independent reporting audits but it's not foolproof, and doesn't stop companies from hiding behind the corporate veil and dodging taxes through incentives and subsidies. As average citizens we just don't have the same ability. You can commit fraud too, just start a company 🤣
I was hoping for this video the moment the verdict came out. I still rewatch that video to this day. Just such a well made video and this just the cherry on the top. Well done!
I mean it's not impossible, perhaps excluding the 'single drop of blood' part.
You could certainly do a crazy amount of tests simultaneously from the same blood set, assuming they can be done with a common method. This could allow for a huge battery of tests to be done, without inconveniencing or costing the patient anything additional.
Downsizing it to fit the size of a desk is doable, but it would limit the amount of tests that can be run concurrently, and possibly eliminate others entirely. If results, less reliable and not used for diagnostic purposes, but indicative of something, are shown among methods other than the primary, you could also increase reliability by incorporating that data and assigning it as well. Theoretically you could have results back within a short amount of time, due to computer accuracy.
It is just mind blowing that she got such a light sentence of 11 years.
As you said in the previous video about her this is a product of a world that puts image above all else and points towards a deeper societal issue.
In recent years and in your videos we have seen massive billion dollar frauds carried out by individuals with just words and promises and many have simply believed them because they offered everything and tapped into modern insatiable greed and to be seen as successful.
Narcissists feeding off narcissists in an endless loop to the bottom and everyone taking selfies on the way down.
Thank you Dagogo, the efforts you put into making these follow up videos are greatly appreciated.
Awesome content as always, Dagogo. You're a huge inspiration to me (And am sure to many others). I just can't skip a ColdFusion video whenever you publish. Keep going ma brotha!
We both went to the same high school I was a senior Liz was a junior . Very well know and popular I wasn't expecting all of this to happened to her going to prison.
About a year ago I had a major body test done (some covid test holabaloo), which required blood tests, they first tested me for how much blood they could draw from me to begin with (some people get weak just from having a little blood taken, due to age and overall health) and ended up taking around 50ml (after I agreed to it of course) it was over twice the amount they needed for the tests, for fun I asked them if they had heard about the whole Theranos thing, the doctor said something like (translated from what I remember): "From the beginning it was a scam or even worse a failure, if she really were so dumb as to belive it was possible, all that data from a single drop of blood? There's science-fiction miracle machines and then there's reality, this amount will make it possible for us to test and double test for everything, and not even the best of the best machines would be able to do it with the same drop of blood, we never use the same sample of blood for more than one test, and even if we did, some of the tests breaks the blood appart in a way that makes it completely unusable for all the others, any real doctor with just a little sense of pride in their profession would be able to look at the thing and call out the BS."
We need more doctors like yours that will speak truth.
Was hoping you'd make this follow-up. It's a fascinating story. I absolutely love this channel!
I discovered E Holmes through you guys years back, so I was ahead with the knowledge together with everyone who watched the first video, thanks for that! I was hoping you guys were going to make a followup video to her and I'm glad that you did
Wow! Just WOW.
As a former medical technologist this had scam all over it I am amazed how Holmes duped all the big guys.
Another reminder that when it seems too good to be true, you should proceed with great caution.
She deserves to be guilty on all counts. Thank you for covering this in the usual manner of class and facts.
I am shocked that the jury did not find her guilty on more of the charges. She damn near beat this rap.
Not only did she deserve more but also investors should be accused of endangering the lives of people with their reckless investing.
I love this guys voice
When we put people in prison we often call them "danger to society" but I believe that we should be adding "danger to the economy" as a new kind of crime of which many politician as well as her would be guilty.
I have no idea why white collar crime and corruption is not punished like an armed robbery is. At least armed robbers are usually poor, uneducated and are trying to get by. But all of these white-collar fraudsters do it for no other reason than money and power, and they destroy thousands of lives in the process.
Holmes facing sentences this high is an exception(I think because she is a small fish and defrauded other wall street people, not regular Joe), I actually cannot remember any other fraud, tax evasion or scam with sentences this high.
'People of the United States of America versus .......................' is apt
She used her brilliant idea to scam investors, deceived the public, pretending to be Steve Jobs and now will break her own child’s heart due to her wrong intentions. Thank you for this awesome lesson to learn from. ❤️
It wasn't brilliant, just sounded like one; might as well try to come up with a time machine.
@@MasoudAPFDC - Yes, it was NOT a brilliant idea, functionally. Only a brilliant SCAM, while it lasted !
This can not be compared to the iPhone. An iPhone does not require new technology. Its a touch screen computer glued to a cellphone. All of its functions already exist. Any new technology was developed by the semiconductor industry (not Apple), in the continuing miniaturization, of Moore's Law. That way, it could fit in your pocket.
The same can NOT be said of the Theranos "Edison" machine. Existing blood tests ALL require fresh blood, which get "consumed" in the test. Hence, the need for the quantity of blood to go up with the different number of tests run. Also, on most of those tests, the the higher the quantity, the better the accuracy. A drop won't do, for reasonable accuracy. Theranos DID NOT invent ANY NEW types of blood tests that could do an accurate test on smaller sample of blood, as CLAIMED !
you didn't need this debacle to learn from, did you?
It wasn’t any more brilliant of an idea then faster of light travel or a perpetual motion device. It was a brilliant scam. But not a brilliant idea. Any child can suggest a non possible breakthrough technology.
I really despise the very concept of "mental state" determining guilt, all it should do is determine severity of the sentencing
It should determine the type, not the severity, of the sentencing. The punishment should be equally unpleasant. Perhaps confinement in a mental hospital instead of prison.
@@panagea2007 it depends on what form of control the government is using against the populace. Currently it is coercive, so the point is to instill fear upon non conformists.
Ironically, there was an episode several years before, on HOUSE, on Murdoch's Fox Network, that dealt with the inability to run multiple tests on small blood samples. It was season 1, "Maternity". Obvs. Rupert hadn't watched it.