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<< >> >> 370 0 obj /S /P /P 270 0 R /Pages 5 0 R /Type /Page endobj 303 0 obj 201 0 obj << >> << /S /LI << Those biases can be understood as the blindness brought about by what seems preeminently important, the righteousness generated by what sounds inherently right, the operational myopia triggered by what is situated far away from us and the sense of potency derived from endeavoring to create something new. What we know for certain is that behind this particular corporate failure lies a cautionary tale of boundless visioning that all investors, entrepreneurs and organizations seeking breakthrough innovations should be interested in further understanding. /K 190 0 R It then allegedly used those articles to generate financial interest. /K 222 0 R >> >> /S /LI >> 27 0 obj endobj /K 8 Theranos presenting poster on an investigational ELISA for the serodiagnosis of #Zika virus infection - today at the American Society of Tropical Medicine & Hygiene . >> Based in Palo Alto, CA, Theranos is a small health care company with only 100 employees and an annual revenue of $55.3M. /K 32 /Type /MCR 31 0 obj /P 8 0 R endobj /P 8 0 R endobj /Lang (EN-US) /P 8 0 R endobj endobj 62 0 obj /Pg 256 0 R /P 360 0 R /Lang (EN-US) Early on, experts inside and outside of the company questioned the technology. >> /K [10 392 0 R] /MediaBox [0 0 612 792] /Parent 11 0 R 116 0 obj /K 2 /Pg 255 0 R /S /LI endobj ", EX-THERANOS CEO ELIZABETH HOLMES PROVIDING OWN DEFENSE IN CIVIL SUIT: REPORT. 19 [null null 215 0 R null null null 216 0 R null null null >> endobj Similarly, defendants purchased and used commercially-available analyzers to test patient blood, while representing to investors that Theranos conducted its patients tests using Theranos-manufactured analyzers. << 156 0 obj 45 0 obj /Pg 251 0 R /S /P She had a charisma to her; she was very articulate,Cheung saidof Holmes. /S /LI /Resources 476 0 R 201 0 R null null null 202 0 R null null null 203 0 R null << /K 110 0 R 344 0 obj Columbia University is one of the world's most important centers of research and at the same time a distinctive and distinguished learning environment for undergraduates and graduate students in many scholarly and professional fields. 160 0 obj Theranos's mission statement is "Our mission is to make actionable information accessible to everyone at the time it matters". /K 37 Instead of sticking with them, Holmes and her team could have put an equal amount of energy and ingenuity into developing a safe user-friendly technique to draw the adequate amount of blood necessary. 281 0 obj /P 295 0 R /P 8 0 R endobj /K 6 Employees in the top 10 percent can make over $68,000 per year, while employees at the bottom 10 percent earn less than $28,000 per year. /Pg 257 0 R /S /LI /K 132 0 R If convicted, they could each face maximum penalties of 20 years in prisona $2.75 million fine and possiblyrestitution, the Department of Justice said. << /K 29 /S /LI Theranos founder Elizabeth Holmes "lied and cheated" for money and fame, prosecutors alleged on the first day of the former Silicon Valley star's trial. /P 50 0 R endobj /S /P endobj 88 0 obj /StructParents 16 /K 213 0 R /P 297 0 R She now has "two very young children hertoddler and an infant," according to a recent court filing. 340 0 obj endobj /Pg 254 0 R << << /Lang (EN-US) /P 329 0 R It became evident that audited financial statements hadn't been prepared since 2009. /S /LBody endobj /P 8 0 R /K 2 /K 47 /S /P /Pg 252 0 R Sentencing Guidelines and the federal statute governing the imposition of a sentence, 18 U.S.C. /Rotate 0 /K 14 /P 55 0 R /S /P /K 24 7 0 obj /S /LI >> >> We searched far and wide for the best company mission statement examples. /K 126 0 R >> /P 8 0 R /Rotate 0 /P 8 0 R >> 146 0 obj /Pg 243 0 R /Lang (EN-US) 18 0 obj /P 48 0 R << 137 0 obj >> /P 63 0 R >> endobj /StructParents 21 /K 138 0 R /Annots [] /S /L endobj /P 48 0 R endobj >> /S /P 199 0 R null null] These detailed accounts show a pattern of behaviors consistent with a distorted motivational and cognitive state. /S /P >> /Annotation /Span /DropCap /Figure /S /LBody For example, with respect to investors, defendants performed technology demonstrations during which defendants intended to cause potential investors to believe blood tests were being conducted on Theranoss proprietary analyzer when, in fact, the analyzer really was running a null protocol and was not testing the potential investors blood. The startup entrepreneurial spirit is selling a vision of a fictional product - a product that does not yet exist. /StructParents 19 /S /LI endobj 396 0 obj /Pg 250 0 R /P 171 0 R endobj >> /Type /Page 39 0 obj 167 0 obj /Pg 236 0 R /S /LI << endobj /Resources 448 0 R /Resources 428 0 R /Pg 235 0 R /P 55 0 R /P 305 0 R /Parent 13 0 R 334 0 obj endobj /P 301 0 R >> /RoleMap 7 0 R /Type /Page /Pg 243 0 R Total losses surpassed $800 million, prosecutors said. 310 0 obj /P 346 0 R >> /K 20 The story raised concerns about the accuracy of Theranos blood-testing technology, which put patients at risk of having conditions either misdiagnosed or ignored. /P 8 0 R Theranos is a now-defunct healthcare technology startup founded by disgraced Stanford drop-out Elizabeth Holmes . /Subtype /XML /K 260 0 R endobj >> >> >> >> /Pg 235 0 R /K 24 315 0 obj /Contents [497 0 R 498 0 R 499 0 R] /S /LBody << . /K 6 << 176 0 R null null null 177 0 R null null null 178 0 R null /Contents [409 0 R 410 0 R 411 0 R] /Pg 246 0 R /P 50 0 R endobj /Pg 248 0 R . 53 0 obj /S /P /S /LI >> Its not uncommon for startups to lose money in their early years, and its not entirely unusual for the fastest burn rate to happen right before things turn around. 105 0 R 106 0 R 107 0 R 108 0 R 109 0 R 35 0 R 36 0 R 37 0 R 38 0 R null /S /LI /S /L >> This office, along with our other law enforcement partners in the Bay Area, will vigorously investigate and prosecute those who do not play by the rules that make Silicon Valley work. /Contents [417 0 R 418 0 R 419 0 R] /K 130 0 R /S /LBody /Lang (EN-US) /S /LBody >> This material may not be published, broadcast, rewritten, or redistributed. << /S /LI << endobj 111 0 obj << endobj Fear a Culture of Fear. /Annots [] 282 0 obj /Lang (EN-US) /P 55 0 R 318 0 obj Theranos founder Elizabeth Holmes arrives at San Jose court, Theranos CEO on companys blood testing system. /MediaBox [0 0 612 792] endobj >> It's unclear whether Theranos' rise and fall will turn out to be a dazzling mirage of "would-be" business . 85 0 R 86 0 R 87 0 R 88 0 R 89 0 R 90 0 R 91 0 R 92 0 R 93 0 R] endobj /Lang (EN-US) endobj << /K 187 0 R /Lang (EN-US) /Type /Page << Ad Choices, Theranos founder Elizabeth Holmes on trial as jury selection begins, Theranos downfall due to elaborate $4M conspiracy, investor says. >> 398 0 obj /Pg 245 0 R /S /LI /MediaBox [0 0 612 792] /Lang (EN-US) $12,600 to the Democratic Party. 208 0 obj /Parent 11 0 R The far-reaching nature of Theranos promises pulled stakeholders attention towards the end state rather than the more practical and operational nature of the challenges that needed consideration in order to successfully implement the purported technological approach. Claim This Company. Those emails eventually made their way to Holmes, who asked, How fast can we resolve this issue? Another employee replied that, after omitting some data, the problem appeared solved. endobj >> 78 0 obj /Lang (EN-US) overstating the extent of Theranos' relationships with commercial partners and government entities, to whom they had also made misrepresentations . We just didn't know what new form it would take. /S /LI /P 50 0 R >> According to the indictment, the defendants also allegedly made numerous misrepresentations to potential investors about Theranoss financial condition and its future prospects. /K 275 0 R endobj << /Pg 240 0 R << Mr. Balwani's lawyer started his opening statement by deflecting blame onto Ms. Holmes, who was the chief executive of Theranos. /Lang (EN-US) 3553. 387 0 obj The Securities and Exchange Commission also brought civil fraud charges against Holmes and Balwani. >> /K 29 /P 324 0 R /K 215 0 R >> /Lang (EN-US) null null 136 0 R null null null 137 0 R null null] There are at least four biases that can let a belief about a desired future state shape reality despite its disconnectedness from reality. Before sharing sensitive information, make sure you're on a federal government site. /Pg 235 0 R << /Lang (EN-US) endobj 263 0 obj << Elizabeth Holmes, the former CEO of Theranos convicted of defrauding investors, is seeking to delay the start of her 11-year prison sentence because she has "two very young children" to be with. /S /LBody null null 162 0 R null null null 163 0 R null null] /Parent 14 0 R /P 8 0 R << << << /Type /Page << << << According to the indictment returned yesterday and unsealed today, the charges stem from allegations Holmes and Balwani engaged in a multi-million dollar scheme to defraud investors, and a separate scheme to defraud doctors and patients. endobj /S /LBody Holmes grew up in Houston, Texas and studied chemical engineering at . 198 0 obj endobj 211 0 R null null null 212 0 R null null null 213 0 R null /K 10 << << /K 217 0 R << endobj The company grew to be worth more than $9 billion, employing more than800 employees attracting investors such asLarry Ellison, founder of Oracle; Rupert Murdoch, billionaire media mogul; and the Walton family, who founded Walmart. /K 21 /K 6 /P 8 0 R /CropBox [0 0 612 792] /P 307 0 R >> /Count 5 /K 22 /S /LBody /S /LBody /K [111 0 R 112 0 R 113 0 R 114 0 R] /Pg 235 0 R endobj >> /S /LI endobj >> 333 0 obj << endobj /Strikeout /Span 74 0 obj >> >> /P 344 0 R If convicted, the defendants face a maximum sentence of twenty (20) years in prison, and a fine of $250,000, plus restitution, for each count of wire fraud and for each conspiracy count. /K 9 >> 365 0 obj /S /P 103 0 obj /S /P But in February, the pair had a number of charges dropped, excluding wire fraud. << The startup was founded in Feb. 2014, was headquartered in Palo Alto, Calif., according to Bloomberg. /P 8 0 R /Type /Page /P 306 0 R 288 0 obj 394 0 obj /P 51 0 R /StructParents 5 endobj 3 0 obj 1343. Holmes fostered a culture of fear because it served her needs. - Sep 15, 2021 3:40 pm UTC. /P 48 0 R /K 9 Investors have poured more than $400 million into Theranos, valuing it at $9 billion and her majority stake at more than half that. /K 163 0 R 124 0 obj /Pg 252 0 R >> /S /LI Palo Alto, United States August 18, 2016: Elizabeth Holmes accepts The Entrepreneur award at, the 25th Annual Glamour Women of the Year Awards on Nov. 9, 2015, in New York. >> endobj /P 8 0 R /S /LI /Lang (EN-US) /P 42 0 R null null null 231 0 R null null null 232 0 R null null /Lang (EN-US) >> A March 17 hearing is scheduled on her request to stay out of prison during her appeal. /P 381 0 R /Lang (EN-US) /K 2 /S /LBody 41 0 obj 324 0 R 325 0 R 326 0 R 327 0 R 328 0 R 329 0 R 330 0 R] /S /LBody /K 18 /K [26 397 0 R] They cite a one-way plane ticket to Mexico she booked for Jan. 26, 2022, three weeksafter her conviction onfour counts of fraud and conspiracy. /S /LBody /K 181 0 R endobj >> /Type /MCR null null null null 168 0 R null null null 169 0 R null endobj << endobj >> /Lang (EN-US) /Lang (EN-US) /Pg 253 0 R Theranos competitors include TED, Bloomberg, HuffPost, National Journal, Washington Plaza Hot, Morgan Stanley, Newsweek. 317 0 obj << 259 0 obj >> endobj 231 0 obj 5 [null null 137 0 R null null null 138 0 R null null null /StructParents 8 /K 216 0 R /K 10 98 0 obj << /Lang (EN-US) Both defendants appeared today before U.S. Magistrate Judge Susan van Keulen for their initial appearances. endobj /K 6 232 0 obj /Pg 255 0 R And the company's downfall later became the focus of an HBO documentary, "The Inventor: Out for Blood in Silicon Valley. Theranos | 27,358 followers on LinkedIn. >> /Lang 123 0 R null null null 124 0 R null null] << << /P 8 0 R /P 50 0 R /Type /Page /P 48 0 R /Resources 456 0 R 158 0 obj Postal Inspection Service (USPIS) Inspector in Charge Rafael Nuez. endobj endobj /P 380 0 R << 177 0 obj 99 0 obj /Lang (EN-US) >> 320 0 obj /K 6 /S /TD endobj 248 0 obj /P 8 0 R /MCID 2 /Resources 412 0 R << 61 0 obj << /Tabs /S /K 152 0 R /P 316 0 R 20 [null null 221 0 R null null null 222 0 R null null 56 0 R 110 0 obj It involves a dream, a mission, a plan, a vision and quite possibly monumental corruption. >> /P 8 0 R /Lang (EN-US) 147 0 obj /CropBox [0 0 612 792] << /Marked true /K [8 94 0 R] endobj >> 148 0 obj endobj It included jury selection, opening statements, released text messages, and an unexpected . << >> 108 0 obj >> /K 10 endobj /S /L /P 339 0 R /K 10 /Lang (EN-US) /K 49 Connor Radnovich/The Chronicle. /P 8 0 R /P 325 0 R /P 8 0 R /S /LI /K 4 /K [95 0 R 96 0 R 97 0 R 98 0 R 99 0 R 100 0 R 101 0 R 102 0 R 103 0 R 104 0 R] 279 0 obj Rankings are based on government and proprietary data on salaries, company financial health, and employee diversity. /S /LI endobj endobj << /K 6 << /S /LI /K 10 109 0 obj << 15 0 obj /Rotate 0 /Lang (EN-US) Subscribe to our channelhttp. /S /LI /Pg 248 0 R /S /LI /S /P 43 0 obj << endobj endobj << 154 0 R null null null 155 0 R null null null 156 0 R null >> /P 39 0 R << In November 2022, Holmes was sentenced to 135 months in prison for defrauding investors in the failed Silicon . endobj << Answer (1 of 7): In 2003, Elizabeth Holmes, then a sophomore studying chemical engineering at Stanford, founded a company called Real-Time Cures. >> endobj 245 0 obj >> << /CropBox [0 0 612 792] /MediaBox [0 0 612 792] 274 0 obj /Lang (EN-US) /Pg 257 0 R >> endobj 139 0 obj >> 321 0 obj null null 225 0 R null null null 226 0 R null null null endobj >> 1 /Pg 240 0 R Market data provided byFactset. >> /S /LBody endobj /S /P /Annots [] /Contents [477 0 R 478 0 R 479 0 R] << /S /Table >> /P 8 0 R The .gov means its official.Federal government websites often end in .gov or .mil. /K 194 0 R >> /Lang (EN-US) /Pg 248 0 R /P 48 0 R << /Pg 235 0 R 379 0 obj << /Pg 235 0 R /S /LBody /P 369 0 R /P 8 0 R /Lang (EN-US) << << << null] << /Contents [473 0 R 474 0 R 475 0 R] /S /P /S /LBody /K 14 36 0 obj /Pg 258 0 R /S /LBody /K 121 0 R << /S /LBody /S /LI /S /LBody >> << /MediaBox [0 0 612 792] /K 21 endstream /S /P 203 0 obj /S /Sect >> Balwani, 53, of Atherton, Calif., was employed at Theranos from September of 2009 through 2016. /Pg 249 0 R endobj /MediaBox [0 0 612 792] << /Pg 235 0 R /K 2 /Pg 235 0 R The matter was assigned to the Honorable Lucy H. Koh, U.S. District Judge, for further proceedings. /K 12 /P 55 0 R << /Lang (EN-US) /P 303 0 R >> << /S /LI endobj /Lang (EN-US) /K [26 388 0 R] /Lang (EN-US) 265 0 obj 155 0 obj >> >> /CropBox [0 0 612 792] Paradoxically, instead of warranting greater scrutiny, the very gap between Theranos projected solution and the requirements of the available blood-testing technology may have prevented a number of decision-makers from focusing on practical questions during evaluation of the companys potential and its various promises. /Kids [245 0 R 246 0 R 247 0 R 248 0 R 249 0 R] >> /K 120 0 R endobj endobj Walgreens ended its blood-testing partnership with the company, and the Department of Health and Human Services effectively banned Theranos in 2016 from doing any blood testing work at all. /Pg 256 0 R Investors large and small from around the world are attracted to Silicon Valley by its track record, its talent, and its promise. endobj Pay at Theranos is significantly lower than some of its highest paying competitors, like. /Contents [481 0 R 482 0 R 483 0 R] /P 50 0 R /K 6 >> 188 0 obj >> Theranos' mission: a blood test requiring only a pinprick of blood, enough to run dozens of medical tests on the startup's hi-tech machines. /P 8 0 R >> Holmes rocketed to Silicon Valley stardom nearly a decade ago when she started speaking publicly about Theranos's vision a small . /S /P /Pg 237 0 R 196 0 obj << /P 8 0 R << 292 0 obj The . /Pg 254 0 R << >> /Pg 243 0 R << 133 0 R null null null 134 0 R null null null 135 0 R null endobj /K 117 0 R /S /LBody /P 34 0 R /P 304 0 R << /Count 5 >> endobj << >> endobj 390 0 obj /MCID 2 16 0 obj endobj endobj >> /S /LBody 123 0 obj endobj >> << endobj 300 0 obj /K 32 endobj /Parent 5 0 R /S /LBody /CropBox [0 0 612 792] /P 8 0 R endobj 366 0 obj endobj /S /LBody /K 36 endobj << /P 287 0 R << << endobj endobj << A young (age-defying), pure-looking (evil-defying), masculine-sounding (stereotype-defying) female CEO speaking about Theranos unfulfilled feats in the present or past present tense, Holmes proposition was so enticing that she was able to assemble one of the most impressive boards in corporate America. 3480 Elizabeth Holmes and her ill-fated blood-testing start up, Theranos, are the subjects of the latest exceptional read. Holmes, Balwani, and Theranos also made false or misleading statements to investors about many aspects of Theranos' business, including the capabilities of its proprietary /Pg 239 0 R /Lang (EN-US) /StructParents 1 /K 10 >> 353 0 obj endobj >> Just 12 tests were performed on Edison devices, and the Edison analyzer could only run one type of test for one patient at a given time, she said. Since this form of unethical behavior may lack the pangs of guilt and/or shame that generally provide people with a certain amount of self-restraint and hesitation, it can be difficult for others to suspect any bad conduct. >> /P 296 0 R /K 6 /K 141 0 R Theranos's mission statement is "To facilitate the early detection and prevention of disease and empower people everywhere to live their best possible lives." /P 284 0 R endobj /Pg 238 0 R /K 0 /K 15 /Lang (EN-US) /Pg 247 0 R /Pg 248 0 R /S /LBody 145 0 R null null null 146 0 R null null null 147 0 R null << /S /LI The average salaries at Bloomberg rank the highest, with their employees earning an. >> 343 0 obj /MediaBox [0 0 612 792] The defendants claimed the analyzer was able to perform a full range of clinical tests using small blood samples drawn from a finger stick. /S /LBody /P 48 0 R /Pg 248 0 R /P 40 0 R << /Parent 13 0 R /Lang (EN-US) To facilitate the early detection and prevention of disease and empower people everywhere to live their best possible lives. << 377 0 obj 181 0 obj endobj /S /LI /S /LBody /Type /Pages /P 33 0 R %PDF-1.5 /K 128 0 R /K 131 0 R Consider Elizabeth Holmes obsession with producing as small a micro-Lab as possible or with using just a few drops of blood in order to conduct the myriad of tests Theranos promised. /Pg 253 0 R endobj /Pg 250 0 R 382 0 obj /Lang (EN-US) /K 28 >> /Pg 238 0 R endobj /Pg 251 0 R << endobj 361 0 obj /Rotate 0 endobj /P 291 0 R >> 3 min read. 166 0 obj /S /LBody /P 8 0 R 240 0 obj /P 330 0 R /Parent 5 0 R << endobj << If convicted, the defendants face a maximum sentence of twenty (20) years in prison, and a fine of $250,000, plus restitution, for each count of wire fraud and for each conspiracy count. >> >> /Lang (EN-US) /Pg 247 0 R Theranos Inc. founder Elizabeth Holmes was criminally charged in June 2018 with defrauding investors following the collapse of her blood-testing startup. /Pg 258 0 R Ms Holmes faces 12 fraud charges over her . >> /S /LBody /Lang (EN-US) The prosecution is the result of an investigation by the FDA Office of Criminal Investigations, the FBI, and the US Postal Inspection Service. >> /S /LI Theranos gambit may have extended over time precisely because all four biases played a role in the making of a dream that was never fully tested against the constraints of reality. /K 5 /Resources 432 0 R >> endobj endobj /S /LBody >> 83 0 obj 1349, and nine counts of wire fraud, in violation of 18 U.S.C. /S /P >> 381 0 obj /Type /Page /Lang (EN-US) /Lang (EN-US) endobj /Pg 235 0 R /Pg 256 0 R 227 0 R null null null 228 0 R null null] << /Lang (EN-US) /Annots [] Northern District of California, FOR IMMEDIATE RELEASEFriday,June 15, 2018, Elizabeth Holmes and Ramesh Sunny Balwani Are Alleged to Have Perpetrated Multi-million Dollar Schemes to Defraud Investors, Doctors, and Patients. Read our affiliate link policy. 82 0 obj << >> /Pg 254 0 R Elizabeth Holmes is the founder and former CEO of Theranos (2003-2018), a company that created and distributed blood testing devices. Instead, Theranos continued to produce mounting losses. << /S /P In addition, the defendants represented to investors that Theranos would soon dramatically increase the number of Wellness Centers within Walgreens stores when, in truth, Holmes and Balwani knew by late 2014 that Theranoss retail Walgreens rollout had stalled because of several issues, including that Walgreenss executives had concerns with Theranoss performance. /Parent 14 0 R (Photo by Brad Barket/Invision/AP). << /Lang (EN-US) /Pg 235 0 R 363 0 obj /P 50 0 R 278 0 obj /K 10 /K 41 276 0 obj /Lang (EN-US) /P 166 0 R endobj /Pg 235 0 R >> endobj /Lang (EN-US) /K 169 0 R >> /S /P << /S /P null 233 0 R null null null 234 0 R null null 64 0 R 65 0 R /Pg 244 0 R /Lang (EN-US) endobj >> /P 392 0 R endobj << /StructParents 11 286 0 obj >> /Parent 11 0 R /S /LI /S /LI 187 0 obj Mutual Fund and ETF data provided byRefinitiv Lipper. /Lang (EN-US) << Anyone who engages in deceptive practices should know they will not go undetected and will be held accountable. /Pg 257 0 R Theranos Inc. (/ r. endobj >> 64 0 obj 126 0 obj /S /LI /S /L >> /P 349 0 R /S /LBody /S /LI 75 0 R 76 0 R 77 0 R 78 0 R 79 0 R 80 0 R 81 0 R 82 0 R 83 0 R 84 0 R /P 50 0 R /Pg 238 0 R << We connect the world's decision makers to accurate information on the financial markets and help them make faster, smarter decisions. 145 0 obj >> /K 31 << 285 0 obj /P 48 0 R >> 138 0 obj endobj >> >> With /Pg 235 0 R 327 0 obj /S /P >> /MarkInfo 2 0 R /S /LI 296 0 R 297 0 R 298 0 R 299 0 R 300 0 R 301 0 R 302 0 R 303 0 R] Theranos dissolved in September 2018 and founder Elizabeth Holmes now faces up to 20 years in prison for fraud and conspiracy. Holmes said in the recent court filing, she had planned to attend a wedding of close friends in Mexico and theticket was canceled immediately when the governmentraised the issue. /Lang (EN-US) 241 0 obj 112 0 obj /P 335 0 R /K 393 0 R /Pg 242 0 R >> /K 18 /P 54 0 R endobj At the time, Holmes, 39,was a mother of a 1-year-old son and pregnant with another child. /Contents [453 0 R 454 0 R 455 0 R] endobj /P 352 0 R /Pg 243 0 R /Underline /Span /K 22 94 0 obj /Lang (EN-US) 72 0 obj << << << /P 50 0 R The indictment charges each defendant with two counts of conspiracy to commit wire fraud, in violation of 18 U.S.C. endobj /S /L endobj /S /P 11 [null null 169 0 R null null null 170 0 R null null null 48 0 obj 49 0 obj endobj /Annots [] 373 0 obj An official website of the United States government. >> 293 0 obj /K 34 endobj /Rotate 0 86 0 obj /P 340 0 R Holmes dropped out of Stanford University at 19 to start the medical diagnostics company in 2003. /Filter /FlateDecode /Annots [] Department of Justice << /Superscript /Span In opening statements, a federal prosecutor depicted Balwani as an instrumental accomplice who helped Holmes pull off a huge scam tied to Theranos' blood-testing technology. >> >> /K 122 0 R /Parent 13 0 R /K 15 endobj By Elizabeth Lopatto / @ mslopatto. /K [22 386 0 R] /Lang (EN-US) >> >> /P 376 0 R 389 0 obj 79 0 obj 195 0 obj /Lang (EN-US) endobj /Pg 251 0 R << endobj /K [28 391 0 R] 309 0 obj Zippia's Best Places to Work lists provide unbiased, data-based evaluations of companies. For example, allegedly, Holmes and Balwani knew that the analyzer, in truth, had accuracy and reliability problems, performed a limited number of tests, was slower than some competing devices, and, in some respects, could not compete with existing, more conventional machines. Last week, Zuckerberg was back with 3,000 words . 7 [null null 147 0 R null null null 148 0 R null null null /Pg 249 0 R /Pg 250 0 R 214 0 obj /Tabs /S After Cheung went to the federal government, Theranos hired a private detective to spy on her, according to court documents released last week. Help other job seekers by rating Theranos. 207 0 obj /Tabs /S /Pg 252 0 R >> /Lang (EN-US) << /P 334 0 R This is why accounts about Theranos willingness to circumvent FDA rules and requirements, among other things, or legitimate due diligence requests made by potential clients is disconcerting yet unsurprising. /K [28 394 0 R] 92 0 obj 168 0 obj /S /LBody /Count 24 /Pg 235 0 R Theranos founder Elizabeth Holmes arrives at San Jose court over alleged fraud. >> /Lang (EN-US) Theranos's mission statement is "To facilitate the early detection and prevention of disease and empower people everywhere to live their best possible lives.". /Annots [] >> /Lang (EN-US) >> << /K 148 0 R THERANOS FOUNDER ELIZABETH HOLMES IN COURT; ANATOMY OF A FRAUD. >> /S /P >> /CropBox [0 0 612 792] /P 48 0 R 26 0 obj /K [304 0 R 305 0 R 306 0 R 307 0 R 308 0 R 309 0 R 310 0 R 311 0 R 312 0 R 313 0 R 8 [null null 152 0 R null null null 153 0 R null null null /Type /Page << /Pg 238 0 R endobj << >> >> We all knew it was coming. /S /LI 122 0 obj /K 155 0 R /K 18 /Pg 244 0 R >> 362 0 obj << << 30 0 obj /Chart /Figure /P 8 0 R /K 221 0 R >> >> null null 174 0 R null null null 175 0 R null null null << /K 14 << /Lang (EN-US) /S /P /Pg 241 0 R /MediaBox [0 0 612 792] /K 261 0 R << endobj /Lang (EN-US) Instead, a vision made boundless by its sharp divide from reality and its extraordinarily narrow goals ended up only perpetuating a state of motivated blindness. >> /S /LI >> 392 0 obj 84 0 obj /K 11 Investors who put a total of $632 million into Theranos in its latest funding round from 2014 to 2015 included " Rupert Murdoch and family-controlled Cox Enterprises Inc., -- [Cox family holdings . >> /Lang (EN-US) 9 [null null 157 0 R null null null 158 0 R null null null Surprisingly, few paid much attention to that unchecked gap before the truth began to come out. /MCID 2 endobj << /K 202 0 R << /S /P There is no try', stolen from . /K [14 389 0 R] 96 0 obj << << << The motion for release said that Holmes is not a flight risk and "is highly motivated to continue complying with her conditions of release sothat she can work with her lawyers while she pursues her appeal.".