>> Elizabeth Holmes arriving to . Theranos's mission statement is "Our mission is to make actionable information accessible to everyone at the time it matters". /P 8 0 R /S /LI /K 13 11 [null null 169 0 R null null null 170 0 R null null null Research on the dark sides of creativity suggests that not only are people more likely to act dishonestly when they are in a creative state, but that cheating, in itself, can actually make people more creative. 1343. /P 8 0 R << /K 19 endobj << << 16 [null null 199 0 R null null null 200 0 R null null null /S /LBody 383 0 obj In many ways, Theranos is the embodiment of Silicon Valley startup culture. 76 0 obj endobj /K 22 endobj The defendants also delivered to doctors and patients blood test results from which critical results were improperly removed. /K 229 0 R /K 0 5 [null null 137 0 R null null null 138 0 R null null null << (Photo by Brad Barket/Invision/AP). /K 261 0 R /K 116 0 R >> It's unclear whether Theranos' rise and fall will turn out to be a dazzling mirage of "would-be" business . << /Pg 256 0 R << /Pg 251 0 R /K 6 270 0 obj /Pg 243 0 R /P 48 0 R /K 14 /ParentTree 9 0 R endobj /K 34 /P 8 0 R /P 59 0 R Theranos representeda potential disruptor to costly and quasi-monopolistic healthcare players that would help people get the right cure at the right time. /K 26 /P 40 0 R Holmes faces up to 20 years in prison. << 294 0 obj >> /S /LBody /Pg 255 0 R /Pg 235 0 R /Pg 237 0 R At the time, Holmes, 39,was a mother of a 1-year-old son and pregnant with another child. >> /K 191 0 R /P 55 0 R Theranos stood as the next big breakthrough innovator in the healthcare industry offering an affirming achievement of the value of human ingenuity. << << << 339 0 obj endobj /K 19 /S /LI /K 30 37 0 obj 156 0 obj /Pg 240 0 R /Pg 235 0 R << /S /LI /K 17 267 0 obj >> << endobj endobj /K 159 0 R It was not only motivated blindness that may have triggered the slippery slope of unethical conduct at Theranos. << /P 307 0 R /Lang (EN-US) While working at Theranos, Cheung sent an email to others in the company, sharing her concerns about the Edison machines. The FDA would like to extend our thanks to our federal law enforcement partners for sending a strong message to Theranos executives and others that these types of actions will not be tolerated, said Catherine A. Hermsen, Acting Director, FDA Office of Criminal Investigations. /Lang (EN-US) /Pg 257 0 R >> /Lang (EN-US) /Rotate 0 300 0 obj 47 0 obj /S /P endobj /K 201 0 R Using a "nanotainer" (a small device designed to draw, retain, and analyze a . /K 138 0 R /K 10 /S /L << /Lang (EN-US) << /Pg 238 0 R /Pg 258 0 R /Type /MCR << /Pg 235 0 R >> endobj endobj /K 137 0 R /S /P 33 0 obj << /Pg 238 0 R /K 194 0 R /StructParents 17 >> >> 149 0 obj >> She now has "two very young children hertoddler and an infant," according to a recent court filing. >> 2018-03-14T08:41:27-07:00 ] /StructParents 21 /Count 5 /S /LBody >> /Lang (EN-US) Photographer: David Paul Morris/Bloomberg *** Local Caption *** Elizabeth Holmes. endobj endobj endobj /K 26 << /Pg 237 0 R After asking questions about Theranos continued losses and lack of revenue, prosecutors showed Yam a document they said was shared with investors; it projected $140 million in revenue in 2014 and $990 million in 2015. /S /P /S /LI /P 358 0 R << >> 95 0 obj 132 0 obj 2 [null null 119 0 R null null null 120 0 R null null 41 0 R /S /P 188 0 R null null null 189 0 R null null null 190 0 R null /Parent 5 0 R endobj << /Pg 235 0 R << 93 0 obj /Lang (EN-US) 1 [null null 115 0 R null null null 116 0 R null null null The company grew to become a business worth billions. /Lang (EN-US) >> >> /P 346 0 R 66 0 obj << >> /P 335 0 R /Pg 235 0 R /Pg 248 0 R /S /LBody << >> /Pg 258 0 R /S /Sect 293 0 obj /K 162 0 R /Resources 476 0 R >> << 24 0 obj >> >> /P 8 0 R 35 0 R 36 0 R 37 0 R 38 0 R 39 0 R 40 0 R 41 0 R 42 0 R 43 0 R 44 0 R endobj Help other job seekers by rating Theranos. /Lang (EN-US) by Elizabeth Holmes. << endobj /Lang (EN-US) << /K 139 0 R The company claimed that it had devised . /S /P endobj /Pg 239 0 R >> 332 0 obj << /Pg 235 0 R /StructParents 0 /S /LBody CNMN Collection /P 166 0 R /S /LBody >> /Resources 484 0 R Theranos founder Elizabeth Holmes, now a mother of two,is asking to delay her11-year sentence for felony fraud so she can be at home with her two young children while she appeals theconviction. Did you ever provide financial projections to investors? Robert Leach, an assistant US attorney,asked Yam. /P 8 0 R /Pg 256 0 R 326 0 obj endobj 230 0 obj Theranos founder Elizabeth Holmes arrives at San Jose court over alleged fraud. endobj 216 0 obj endobj >> 204 0 obj The indictment further alleges that Holmes and Balwani knew that many of their representations about the analyzer were false. /P 8 0 R /P 40 0 R /P 303 0 R /K 120 0 R Cheung said she joined the company largely on the star power of its CEO. . /K 1 >> /S /Span << 284 0 obj /K 15 endobj /K 4 /P 316 0 R 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. /K 14 endobj >> /K 9 /Type /Page 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. /Contents [441 0 R 442 0 R 443 0 R] /Contents [485 0 R 486 0 R 487 0 R] endobj >> 165 0 obj << << 2018-03-14T09:02:10-07:00 302 0 obj /Pg 255 0 R /Rotate 0 /Tabs /S >> endobj endobj /S /LBody /P 8 0 R /Pg 256 0 R /Outline /Span 167 0 obj /P 33 0 R >> /Tabs /S 186 0 obj endobj endobj /K 9 endobj endobj /Lang (EN-US) /P 318 0 R >> 306 0 obj /Annots [] /P 311 0 R << endobj >> /Pg 235 0 R >> /Lang (EN-US) "Sunny Balwani did not start Theranos," said the lawyer . >> /S /P >> << /S /LBody /P 286 0 R /Contents [429 0 R 430 0 R 431 0 R] << /Parent 13 0 R But thats not what the company was telling investors, according to new documents shared during the jury trial of Theranos founder and CEO Elizabeth Holmes. /Tabs /S It involves a dream, a mission, a plan, a vision and quite possibly monumental corruption. /Lang (EN-US) /K [26 397 0 R] >> << /P 8 0 R /K 6 /CropBox [0 0 612 792] /Pg 252 0 R /S /LI /CropBox [0 0 612 792] /P 55 0 R >> /Pg 257 0 R At times during that period, Balwani worked in several capacities including as a member of the companys board of directors, as its president, and as its chief operating officer. << 157 0 obj Palantir has . endobj /P 274 0 R 43 0 obj The first week of Theranos founder Elizabeth Holmes' fraud trial is now complete. 334 0 obj << null null 152 0 R null null] 128 0 obj endobj This is how Theranos's huge valuation was birthed and where a critical legal problem lies. << endobj /Lang (EN-US) << /Lang (EN-US) /S /LBody endobj /Lang (EN-US) /S /LBody /K 175 0 R /CreationDate (D:20180314084127-07'00') >> /Lang (EN-US) Easy acce View the full answer endobj /P 357 0 R /Lang (EN-US) /P 392 0 R endobj /Count 24 337 0 obj /Pg 236 0 R /S /LI /S /P 358 0 obj /K 5 /S /LI /K 2 endobj >> flagrantly vague and often outright untruthful statements. Zippia gives an in-depth look into the details of Theranos, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Theranos. /K 166 0 R /MCID 2 98 0 obj << 360 0 obj << /S /LI Theranos wanted to make detailed blood sample analysts accessible to all doctors in a timely manner. /S /P According to the indictment, Holmes and Balwani used advertisements and solicitations to encourage and induce doctors and patients to use Theranoss blood testing laboratory services, even though the defendants knew Theranos was not capable of consistently producing accurate and reliable results for certain blood tests. /S /L /S /LI >> 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. /Strikeout /Span /K [32 382 0 R] Theranos has established itself as a great place to work in California, and it is number 17 on Zippia's list of, The average employee at Theranos makes $44,094 per year. >> /K 6 /Type /MCR << /P 8 0 R The average salaries at Bloomberg rank the highest, with their employees earning an. endobj << /K 12 /Contents [489 0 R 490 0 R 491 0 R] /K 15 endobj 366 0 obj /K 21 /S /LI 373 0 obj endobj /CropBox [0 0 612 792] 88 0 obj /Contents [421 0 R 422 0 R 423 0 R] /P 341 0 R /Lang (EN-US) /Rotate 0 /S /LBody /K 171 0 R << She is photographed in 2014 while speaking about the company's vision at their headquarters in Palo Alto . /Parent 13 0 R endobj 1. endobj 309 0 obj endobj /Pg 245 0 R /P 50 0 R /S /LBody endobj /Lang (EN-US) endobj The defendants nevertheless used interstate electronic wires to purchase advertisements intended to induce individuals to purchase Theranos blood tests at Walgreens stores in California and Arizona. << 13 0 obj 11 0 obj << /K 126 0 R endobj endobj /Pg 239 0 R /K 118 0 R /Lang (EN-US) /S /L The company boasted the ability to get results from very small amounts of blood, something that would be revolutionary in medical diagnostics. /Count 5 endobj /K 28 /S /LI /P 375 0 R /Parent 5 0 R 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. /P 42 0 R /S /LBody /K 179 0 R /Pg 240 0 R << /Lang (EN-US) >> >> endobj /K 225 0 R >> << 192 0 obj endobj /Type /Page 280 0 obj 227 0 obj >> >> 165 0 R null null null 166 0 R null null null null 167 0 R /S /P 168 0 obj /MediaBox [0 0 612 792] >> /S /LI 181 0 obj /S /P Here's Robert Leach, assistant U.S. attorney, who is prosecuting the case against Holmes: "This is a case about fraud, about lying and cheating to get money," Leach says. /Lang (EN-US) /Type /StructTreeRoot /P 39 0 R << >> << /S /LI >> Many of those statements were outright falsehoods or, more charitably, danced around the truth. endobj /P 50 0 R << /Contents [445 0 R 446 0 R 447 0 R] 238 0 obj /Lang (EN-US) /Tabs /S /S /LBody endobj /Subtype /XML 121 0 obj 173 0 obj 84 0 obj endobj 39 0 obj /S /P >> 234 0 obj endobj << /P 50 0 R /S /LI 388 0 obj endobj >> /P 8 0 R /P 48 0 R endobj /S /LI /Pg 235 0 R Prosecutors allege that Holmes and Balwani deliberately misled investors, policymakers and the public about the accuracy of Theranos blood-testing technologies since 2013, at least, EX-BILLIONAIRE ELIZABETH HOLMES CAN'T PAY LAWYERS DEFENDING HER IN THERANOS FRAUD CLAIM. >> 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 /K 200 0 R /P 264 0 R /Lang (EN-US) /P 295 0 R Jumping off the track ends not with a win for consumers, physicians, investors and the company but with charges from the DOJ and the SEC. /Tabs /S 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. /P 328 0 R /Pg 256 0 R /Lang (EN-US) endobj endobj /StructTreeRoot 3 0 R /Pg 258 0 R /P 8 0 R Legal Statement. >> But indictments said Holmes andher colleague and former romantic partner Ramesh Sunny Balwani, lied about the technology, the company's finances, and its partnerships with the Department of Defense and Walgreens. 104 0 obj /P 8 0 R /Pg 239 0 R /Rotate 0 endobj << /Pg 254 0 R /K 193 0 R endobj endobj >> /Kids [245 0 R 246 0 R 247 0 R 248 0 R 249 0 R] /P 8 0 R /P 8 0 R There are at least four biases that can let a belief about a desired future state shape reality despite its disconnectedness from reality. /S /LBody /Marked true 206 0 R null null null 207 0 R null null null 208 0 R null /Pg 235 0 R 380 0 obj /S /LI /P 8 0 R endobj Last week, Zuckerberg was back with 3,000 words . /K 30 3480 << << << endobj /Rotate 0 Whistleblower and former Theranos lab tech Erika Cheung. 371 0 obj /Pg 253 0 R /Parent 13 0 R >> /Tabs /S 105 0 obj /Lang (EN-US) /Contents [433 0 R 434 0 R 435 0 R] What's everyone talking about? /P 344 0 R 295 0 obj /CropBox [0 0 612 792] << << /S /LBody /K 163 0 R /S /LBody Theranos is a private health care and life sciences company with the stated mission to revolutionize medical laboratory testing through allegedly innovative methods for drawing blood, testing blood, and interpreting the resulting patient data. 6 0 obj /Lang (EN-US) /Annots [] << /P 310 0 R /S /LI /P 351 0 R /Annots [] /Endnote /Note /P 34 0 R 80 0 R 81 0 R 82 0 R] /Lang (EN-US) /Resources 416 0 R /CropBox [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. /Pg 244 0 R /P 51 0 R /Lang (EN-US) /S /LI endobj Quotes displayed in real-time or delayed by at least 15 minutes. /MediaBox [0 0 612 792] endobj /S /LBody /K 209 0 R /K [24 387 0 R] When Yam was working with an analytics firm to price stock options, she asked Holmes for some key financial forecasts, including projected revenue, because the CEO had the best information. During that process, Yam had emailed Holmes asking her how much revenue she was anticipating. /S /P /Lang (EN-US) /Lang (EN-US) endobj << endobj >> /Parent 14 0 R >> /S /LI /Lang (EN-US) endobj endobj /P 296 0 R << 141 0 obj /K 2 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 127 0 obj 148 0 obj /S /P /Type /Pages 8 [null null 152 0 R null null null 153 0 R null null null /S /P >> /P 8 0 R /Lang (EN-US) /K 14 Moreover, Theranos and Holmes made "false and misleading statements" in press accounts to bolster the startup's profile. /P 309 0 R Theranos dissolved in September 2018 and founder Elizabeth Holmes now faces up to 20 years in prison for fraud and conspiracy. /P 8 0 R >> /K 6 Holmes, Balwani, and Theranos also made false or misleading statements to investors about many aspects of Theranos' business, including the capabilities of its proprietary /ModDate (D:20180314090210-07'00') >> >> << >> /P 55 0 R /Tabs /S 313 0 obj 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. /Resources 496 0 R 393 0 obj /P 269 0 R >> 60 0 obj /K 170 0 R >> 195 0 obj << >> /Lang (EN-US) /Lang (EN-US) The site is secure. << 184 0 obj /Placement /Block 145 0 obj /P 33 0 R /Pg 256 0 R 75 0 obj /K 16 >> /Bibliography /BibEntry >> /P 378 0 R -mission statement: to make actionable information accessible to everyone at the time it matters. /MediaBox [0 0 612 792] Carreyous account of Safeways engagement with Theranos is powerful. endobj /S /LI endobj << << >> << << /P 293 0 R endobj << /Pg 251 0 R >> << endobj << /S /LI /Lang (EN-US) << Theranos' mission was "to make actionable health information accessible to people everywhere in the world, at the time they most need it." It was a lofty, inspiring, and valiantly unifying purpose, . When he sentenced Holmes, U.S. District Judge Edward Davila pushed to April 27 her report date to a prison in Byron, Texas, so she could give birth to her second child before being incarcerated. 200 0 obj >> Surprisingly, few paid much attention to that unchecked gap before the truth began to come out. /S /P endobj >> >> endobj /Resources 444 0 R << /P 277 0 R /Pg 257 0 R /Lang (EN-US) << /K 22 134 0 obj << endobj /K 10 << >> /K 32 /Lang (EN-US) /Type /MCR >> << /K 10 /P 322 0 R endobj >> /Type /MCR endobj 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. /P 319 0 R /S /LI 336 0 obj /Pg 253 0 R /StructParents 7 << >> 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.
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