OT - Elizabeth Holmes of Theranos

[Nitwit]

Has anyone else read Bad Blood or watched the 20-20 show about Elizabeth Holmes of Theranos? And tonight HBO is airing their own TV movie about this fraudulent psychopath. It’s amazing the lengths she went to raise capital and market herself and her faulty technology to the world all the while obsessed with wanting to be the next Steve Jobs. If anyone is interested you should start with the book written by John Carryrou, a WSJ reporter, and DVR the TV shows. She is smart but in all the wrong ways and the worst boss you could ever imagine just in her early 20s. It’s crazy as could be but she became a billionaire on the basis of a good idea which unfortunately never worked. She needs to go to jail for a long time. People’s lives were at stake and she only cared about herself.

 

[STPGopherfan]

Has anyone else read Bad Blood or watched the 20-20 show about Elizabeth Holmes of Theranos? And tonight HBO is airing their own TV movie about this fraudulent psychopath. It’s amazing the lengths she went to raise capital and market herself and her faulty technology to the world all the while obsessed with wanting to be the next Steve Jobs. If anyone is interested you should start with the book written by a WSJ reporter, and DVR the TV shows. She is smart but in all the wrong ways and the worst boss you could ever imagine just in her early 20s. It’s crazy as could be but she became a billionaire on the basis of a good idea which unfortunately never worked. She needs to go to jail for a long time. People’s lives were at stake and she only cared about herself.

Her?

((Asks self is this the same as posting a mad man's manifesto?))

 

[The Spin Meister]

CNBC did a segment on her this morning w author of book. Had clips of her at various functions. Amazing how so many smart people can be fooled.

Really good clip worth watching.

 

[The Spin Meister]

Her?

((Asks self is this the same as posting a mad man's manifesto?))

Thats her

 

[tboyer]

Somebody needs to introduce her to Billy McFarland, the genius who came up with the Fyre Festival. Good looking, charming guy who also fooled a lot of smart people.

 

[Nitwit]

Thats her

Yes - black turtle neck just like Steve Jobs

 

[Tri-Power65]

The quintessential megalomaniac. And, yes she did fool a lot of smart people - must have been the fake deep voice.

 

[ericstratton-rushchairman]

Book was outstanding. This gal was next level narcissistic nutjob. Makes the Fyre Festival guy seem like an amateur. She actually pulled the wool over the eyes of George Schultz and general Jim Mattis.

Highly recommend this book

 

[LionJim]

Lol, psychopath is right.

 

[artsandletters]

Has anyone else read Bad Blood or watched the 20-20 show about Elizabeth Holmes of Theranos? And tonight HBO is airing their own TV movie about this fraudulent psychopath. It’s amazing the lengths she went to raise capital and market herself and her faulty technology to the world all the while obsessed with wanting to be the next Steve Jobs. If anyone is interested you should start with the book written by John Carryrou, a WSJ reporter, and DVR the TV shows. She is smart but in all the wrong ways and the worst boss you could ever imagine just in her early 20s. It’s crazy as could be but she became a billionaire on the basis of a good idea which unfortunately never worked. She needs to go to jail for a long time. People’s lives were at stake and she only cared about herself.

Lloyd Blankfein et al never went to prison. People’s lives were at stake and they only cared about themselves.

 

[psuro]

Book was outstanding. This gal was next level narcissistic nutjob. Makes the Fyre Festival guy seem like an amateur. She actually pulled the wool over the eyes of George Schultz and general Jim Mattis.

Highly recommend this book

So....wreckable or not?

 

[LionJim]

So....wreckable or not?

I have my limits. No.

 

[The Spin Meister]

I have my limits. No.

"A man's got to know his limitations"

 

[rudedude]

Hmm, maybe Psychedlic Mackdaddy can blame us Baby Boomers for her too since she comes from his generation.

 

[Nitwit]

So....wreckable or not?

The only fluid she wants from you is your blood.

 

[LionJim]

The only fluid she wants from you is your blood.

Please tell me you just now made that up.

 

[Nitwit]

I did. I’ll see myself out.

 

[ralphster]

It runs in the family. Her father was an Enron executive.

 

[LionJim]

It runs in the family. Her father was an Enron executive.

Was he now? Seriously? If you put that in a movie no one would believe it.

 

[Nitwit]

Book was outstanding. This gal was next level narcissistic nutjob. Makes the Fyre Festival guy seem like an amateur. She actually pulled the wool over the eyes of George Schultz and general Jim Mattis.

Highly recommend this book

She had way of attracting old powerful men to support her. She was like a grand daughter to them. Kissinger was a board member and Bill Clinton appeared publicly with her heaping praise on her ability to “change the world” - her mantra. Secretary of Education Devros (female) also was a big investor but not a board member. Shultz believed her but not his own grandson who was an employee whistleblower. None of these men on her Board had any technical expertise which was part of her scam. Others believed the company’s technology was credible after seeing all the high powered people who were tied to the company. How could they possibly be wrong? They were. There was a lot of greed involved. People saw them as the next Google, Apple, Facebook, Microsoft, etc. and companies like that in Silicon Valley. Walgreens didn’t want to left out relative to the competition, so they bought equipment without knowing it didn’t work to put into Theranos Centers in their stores in Phoenix and nearby Palo Alto, Ca. Moral - if it sounds too good to be true, it probably is.

 

[LionJim]

She had way of attracting old powerful men to support her. Kissinger was a board member and Bill Clinton appeared publicly with her heaping praise on her ability to “change the world” - her mantra. Secretary of Education Devros (female) also was a big investor but not a board member. None of these men on her Board had any technical expertise which was part of her scam. Others believed the company’s technology was credible after seeing all the high powered people who were tied to the company. How could they possibly be wrong? They were.

Very good. Politicians make lousy scientists.

 

[ralphster]

According to her Wikipedia entry (I know, I know...), he was an Enron executive.

 

[LionJim]

According to he Wikipedia entry (I know, I know...), he was.

Wiki’s usually fine.

 

[LionDeNittany]

Has anyone else read Bad Blood or watched the 20-20 show about Elizabeth Holmes of Theranos? And tonight HBO is airing their own TV movie about this fraudulent psychopath. It’s amazing the lengths she went to raise capital and market herself and her faulty technology to the world all the while obsessed with wanting to be the next Steve Jobs. If anyone is interested you should start with the book written by John Carryrou, a WSJ reporter, and DVR the TV shows. She is smart but in all the wrong ways and the worst boss you could ever imagine just in her early 20s. It’s crazy as could be but she became a billionaire on the basis of a good idea which unfortunately never worked. She needs to go to jail for a long time. People’s lives were at stake and she only cared about herself.

I followed the story as it was happening. This is the model of a lot of "startups". Get money for an idea... once you have the money, acquire actual business lines.

All of the internet companies did this as they were losing money early on. The problem with Theranos is they had real promises to keep.

LdN

 

[loosey goosey]

Yes - black turtle neck just like Steve Jobs

Not only that,she was so obsessed she started using a Steve Jobs bar atone voice.They had an interview with one of her Standford professors that went to hear her speak that said that doesn't sound like the girl I remember.

 

[NewEra 2014]

Elizabeth Holmes of Theranos

Is she the one with the three dragons?

 

[Aardvark86]

CNBC did a segment on her this morning w author of book. Had clips of her at various functions. Amazing how so many smart people can be fooled.

Really good clip worth watching.

Smart people think with their dicks. So do people in Silicon Valley. It was obvious early on when she had a bod loaded with cold warriors who knew nothing of health care

 

[Aardvark86]

She had way of attracting old powerful men to support her. She was like a grand daughter to them. Kissinger was a board member and Bill Clinton appeared publicly with her heaping praise on her ability to “change the world” - her mantra. Secretary of Education Devros (female) also was a big investor but not a board member. Shultz believed her but not his own grandson who was an employee whistleblower. None of these men on her Board had any technical expertise which was part of her scam. Others believed the company’s technology was credible after seeing all the high powered people who were tied to the company. How could they possibly be wrong? They were. There was a lot of greed involved. People saw them as the next Google, Facebook, Netflix, etc. and companies like that in Silicon Valley. Walgreens didn’t want to left out relative to the competition, so they bought equipment without knowing it didn’t work to put into Theranos Centers in their stores in Phoenix and nearby Palo Alto, Ca. Moral - if it sounds too good to be true, it probably is.

Actually got az to change its pharmacy laws to allow lab tests without Rxs in some cases

 

[Mike W 31]

Very good. Politicians make lousy scientists.

yeah but they learned their lesson ... they got this global warming thing down pat

 

[ILLINOISLION]

First heard about her and her scam about a year ago on 60 Minutes. Amazing how she could fool E V E R Y B O D Y !

In her own twisted sick way, her story is every bit as amazing as the Free Solo story.....except that she fell!

 

[PSUArnie]

Very good. Politicians make lousy scientists.

Politicians in general just make for lousy human beings.

 

[LionJim]

Politicians in general just make for lousy human beings.

There are a number who I really like and consider to be genuine.

 

[Nitwit]

I followed the story as it was happening. This is the model of a lot of "startups". Get money for an idea... once you have the money, acquire actual business lines.

All of the internet companies did this as they were losing money early on. The problem with Theranos is they had real promises to keep.

LdN

Yep - she wasn’t just playing with peoples’ money, she was playing with their lives. Not to over analyze but I believe she was some entitled rich kid who always got everything she wanted and who had a good idea. When the idea couldn’t be made to work, her ego was so wrapped up in it that she wouldn’t admit failure. It may have been the first time she ever failed at anything in her young life. Her parents had given her everything she needed or wanted and she didn’t recognize her own fallibility. So rather than fail she tried to cover it up hoping more time and the right people would make her idea work. She over estimated herself big time when she began to commit fraud rather than fess up. Hope she and the scumbag COO and former boyfriend go to prison for a long time.

 

[fizzyskittles]

She had way of attracting old powerful men to support her. She was like a grand daughter to them. Kissinger was a board member and Bill Clinton appeared publicly with her heaping praise on her ability to “change the world” - her mantra. Secretary of Education Devros (female) also was a big investor but not a board member. Shultz believed her but not his own grandson who was an employee whistleblower. None of these men on her Board had any technical expertise which was part of her scam. Others believed the company’s technology was credible after seeing all the high powered people who were tied to the company. How could they possibly be wrong? They were. There was a lot of greed involved. People saw them as the next Google, Facebook, Netflix, etc. and companies like that in Silicon Valley. Walgreens didn’t want to left out relative to the competition, so they bought equipment without knowing it didn’t work to put into Theranos Centers in their stores in Phoenix and nearby Palo Alto, Ca. Moral - if it sounds too good to be true, it probably is.

Exactly,I’ll argue that a lot of these people aren’t that smart. In everything. I know people who grew up on the streets that would never fall for a hustle like this.
They’ve seen these grifters before.

 

[okinburg1]

There are a number who I really like and consider to be genuine.

My Dad told me a long time ago to always remember one thing about any politician - from the local school board to the POTUS - that they are all as crooked as a dog's hind leg.
I've seen nothing since to make me think otherwise.

 

[LionDeNittany]

Exactly,I’ll argue that a lot of these people aren’t that smart. In everything. I know people who grew up on the streets that would never fall for a hustle like this.
They’ve seen these grifters before.

They are all in on the hustle. That is the beauty.

Steve Jobs... backdated options for himself. The board did it when he asked.

They were all expecting to become billionaires.

LdN

 

[anon_1eeb2b426hv3y]

Has anyone else read Bad Blood or watched the 20-20 show about Elizabeth Holmes of Theranos? And tonight HBO is airing their own TV movie about this fraudulent psychopath. It’s amazing the lengths she went to raise capital and market herself and her faulty technology to the world all the while obsessed with wanting to be the next Steve Jobs. If anyone is interested you should start with the book written by John Carryrou, a WSJ reporter, and DVR the TV shows. She is smart but in all the wrong ways and the worst boss you could ever imagine just in her early 20s. It’s crazy as could be but she became a billionaire on the basis of a good idea which unfortunately never worked. She needs to go to jail for a long time. People’s lives were at stake and she only cared about herself.

Read Bad Blood. Fascinating. I recorded the 20/20 episode and will likely watch the hbo series. But Her now ex-boyfriend and former colleague sounds like a worse boss, which is barely imaginable.

 

[blion72]

I followed the story as it was happening. This is the model of a lot of "startups". Get money for an idea... once you have the money, acquire actual business lines.

All of the internet companies did this as they were losing money early on. The problem with Theranos is they had real promises to keep.

LdN

this has been a problem especially in SV startups. there is a false belief among many investors that all innovation is in SV, due to the model used out there. Y-combinator is an example of an "accelerator" that apply to get in as the learn the secret sauce methodology which is really better access to SV VCs/Angels. what has happened in the last few years is these companies stay private longer using big investments from hedge funds, insurance companies, private equity, etc. a company and go a long way losing large sums betting on big growth.

try selling this model to investors in Indiana, Ohio, PA, Kentucky, etc. that dog wont hunt there - density of funds and investors willing to put massive $$$ into a dream aint there. the SV moto in the HBO movie was "fake it till you make it". putting a traditional company doing medical devices, manufacturing, etc in SV is oil and water. the hype methodology does not work to raise money like this in Des Moines.

 

[okinburg1]

“a chemistry is performed so that a chemical reaction occurs and generates a signal from the chemical interaction with the sample, which is translated into a result, which is then reviewed by certified laboratory personnel.”

This is the quote, by Holmes, that essentially began the downfall of Theranos. It was her response about how the science behind the innovative single drop of blood to check patient lab values technology supposedly worked. Subsequently the WSJ reporter began digging into Theranos and eventually the whole company folded like a house of cards.

What is shocking to me is that this is the best quote that Holmes, who dropped out of Stanford to found Theranos, could come up with when that question was posed. I would think someone who got admitted to Stanford could come up with a slightly better answer, perhaps sounding a little more scientific and authoritative, than that hot mess response that sounds like it came from a middle school kid trying to defend her science fair project. Also, Holmes was reported to be very polished in her presentations to the old suits that she scammed into investing in Theranos, so you'd think she would have anticipated this question and had a canned answer that sounded impressive.

All in all a fascinating story with the real message being, as mentioned above, "if it sounds too good to be true, it probably is."

 

[Steve G]

“a chemistry is performed so that a chemical reaction occurs and generates a signal from the chemical interaction with the sample, which is translated into a result, which is then reviewed by certified laboratory personnel.”

This is the quote, by Holmes, that essentially began the downfall of Theranos. It was her response about how the science behind the innovative single drop of blood to check patient lab values technology supposedly worked. Subsequently the WSJ reporter began digging into Theranos and eventually the whole company folded like a house of cards.

What is shocking to me is that this is the best quote that Holmes, who dropped out of Stanford to found Theranos, could come up with when that question was posed. I would think someone who got admitted to Stanford could come up with a slightly better answer, perhaps sounding a little more scientific and authoritative, than that hot mess response that sounds like it came from a middle school kid trying to defend her science fair project. Also, Holmes was reported to be very polished in her presentations to the old suits that she scammed into investing in Theranos, so you'd think she would have anticipated this question and had a canned answer that sounded impressive.

All in all a fascinating story with the real message being, as mentioned above, "if it sounds too good to be true, it probably is."

but that is the point. That answer and variants of it including the words "micro fluidics" was her whole pitch from the get go. She never provided anything like technical details. It was only when real money and real implementation loomed that any one took a critical eye to it.