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Old 06-16-2018, 05:52 AM   #1
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Default Steve Jobs of Biotech, Elizabeth Holmes, Indicted on Eleven Counts of Fraud

Holmes, who started Theranos at the age of 19, was celebrated as a rising star of Silicon Valley until it became clear that many of the claims about the company’s supposedly revolutionary blood test were bogus.

The company reached a $9 billion valuation based on its promise to disrupt the laboratory testing business.

In presentations to potential investors, to doctors at medical meetings and to the media, Holmes claimed the Theranos analyzer could perform a full range of clinical tests using tiny blood samples drawn from a finger stick, and that it could produce results that were more accurate, reliable and faster than those from conventional blood tests.

The indictment alleges that Holmes and Balwani knew their analyzer 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 conventional machines.

They told investors that Theranos could generate about $1 billion in revenues in 2015 when in fact the company had generated just a few hundred thousand dollars in 2014 and 2015, the indictment said.

In 2015, the Wall Street Journal reported that Theranos’ devices were flawed and inaccurate, setting off a downward spiral for the company that had bagged investors including venture capital firm DFJ, Walgreens (WBA.O), media mogul Rupert Murdoch and Oracle (ORCL.N) co-founder Larry Ellison.
Nothing worse than somebody who defrauds people in medical and health fields.
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Old 06-16-2018, 10:09 AM   #2
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Default Re: Steve Jobs of Biotech, Elizabeth Holmes, Indicted on Eleven Counts of Fraud

looked up her name on images. shes a fake, she wears the same turtle necksweater as steve jobs in all of the pictures.
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