Personal computing discussed

Moderators: askfranklin, renee, emkubed, Captain Ned

  • 1
  • 4
  • 5
  • 6
  • 7
  • 8
 
ludi
Gold subscriber
Lord High Gerbil
Posts: 8470
Joined: Fri Jun 21, 2002 10:47 pm
Location: Sunny Colorado front range

Re: Theranos

Mon Jul 08, 2019 4:50 pm

just brew it! wrote:
LOL, I did not realize this until now. Holmes' father was a VP at Enron! Looks like "fake it till you make it" runs in the family...

Apropos of nothing, when I was wrapping up college I had a lab partner a couple times who mentioned, just before graduation, that he was heading to Texas the following week for a really promising second interview. I wished him luck and we went our separate ways after the ceremonies, presumably never to see each other again.

A couple years later, in the dark depths of the dot-com recession, I was back at one of the college career fairs hunting for something better than the temp work I had barely been picking up, and guess who i run into?

"Oh hey," says I. "You here as a company rep now?"
"Naw," he replies. "Same as you, looking for a job."
"Wait, didn't it look like you were getting an offer back at graduation? Some firm in Houston, wan't it?"
He let off a bemused snort. "That was Enron."
Abacus Model 2.5 | Quad-Row FX with 256 Cherry Red Slider Beads | Applewood Frame | Water Cooling by Brita Filtration
 
just brew it!
Gold subscriber
Administrator
Topic Author
Posts: 53467
Joined: Tue Aug 20, 2002 10:51 pm
Location: Somewhere, having a beer

Re: Theranos

Tue Oct 08, 2019 9:46 am

Nostalgia isn't what it used to be.
 
tanker27
Gerbil Khan
Posts: 9370
Joined: Tue Feb 26, 2002 7:00 pm
Location: Georgia

Re: Theranos

Tue Oct 08, 2019 1:46 pm

What's worse: Elizabeth's fake deep voice OR vocal fry?
(\_/)
(O.o)
(''')(''')
Watch out for evil Terra-Tron; He Does not like you!
 
Glorious
Gold subscriber
Gerbilus Supremus
Posts: 11907
Joined: Tue Aug 27, 2002 6:35 pm

Re: Theranos

Tue Oct 08, 2019 2:52 pm

Oh man, when I clicked I was going to comment "Do you think she affects that voice with her lawyers? Perhaps she did, and then she didn't and now...?"

And then tanker27 was already there. :P
 
tanker27
Gerbil Khan
Posts: 9370
Joined: Tue Feb 26, 2002 7:00 pm
Location: Georgia

Re: Theranos

Wed Oct 09, 2019 6:16 am

listening to her speak is painful. I watched the HBO doc on Theranos and it was quite obvious that she was faking and forcing her voice to the point that when she spoke she had weird pauses mid-sentence to make sure she was getting her voice deep enough.
(\_/)
(O.o)
(''')(''')
Watch out for evil Terra-Tron; He Does not like you!
 
just brew it!
Gold subscriber
Administrator
Topic Author
Posts: 53467
Joined: Tue Aug 20, 2002 10:51 pm
Location: Somewhere, having a beer

Re: Theranos

Wed Oct 09, 2019 6:35 am

The fact that she got as far as she did before someone finally called her out is a pretty vivid demonstration of how gullible people can be. We really DO want to believe in the impossible, especially when there's a big fat payday riding on it. And some people are just really good at exploiting that tendency.

The recent collapse of the WeWork IPO is another good example.
Nostalgia isn't what it used to be.
 
tanker27
Gerbil Khan
Posts: 9370
Joined: Tue Feb 26, 2002 7:00 pm
Location: Georgia

Re: Theranos

Wed Oct 09, 2019 8:00 am

WeWork is an interesting case in the fact that the open office concept fueled its demise.
(\_/)
(O.o)
(''')(''')
Watch out for evil Terra-Tron; He Does not like you!
 
just brew it!
Gold subscriber
Administrator
Topic Author
Posts: 53467
Joined: Tue Aug 20, 2002 10:51 pm
Location: Somewhere, having a beer

Re: Theranos

Wed Oct 09, 2019 8:07 am

WeWork's valuation made no sense. They were essentially an office subleasing operation (and a massively unprofitable one at that) being treated as a tech unicorn.
Nostalgia isn't what it used to be.
 
dragontamer5788
Gerbil Elite
Posts: 516
Joined: Mon May 06, 2013 8:39 am

Re: Theranos

Wed Oct 09, 2019 12:16 pm

just brew it! wrote:
WeWork's valuation made no sense. They were essentially an office subleasing operation (and a massively unprofitable one at that) being treated as a tech unicorn.


When Son Masayoshi, the CEO of Softbank, throws his money around, people listen.
Image

Behold, the SoftBank Vision Fund. Notice a pattern? When SoftBank owns a company, they pump it up severely. They profit at IPO.

EDIT: Apparently the chart above didn't have the Theranos bid either. But rest assured, Softbank bought into Theranos too. There's definitely a pattern emerging here: Softbank buys a company (regardless of its actual financials), and Softbank hypes their investments as the investments near IPO.
 
DrCR
Gerbil Team Leader
Posts: 269
Joined: Tue May 10, 2005 7:18 am

Re: Theranos

Thu Oct 10, 2019 6:11 pm

dragontamer5788 wrote:
Behold, the SoftBank Vision Fund. Notice a pattern? When SoftBank owns a company, they pump it up severely. They profit at IPO.

That's representative of all venture capital. And venture capital, done right, does not mean the lack of failure, quite the contrary; it's just that the ones that pay off do so quite extensively.
 
dragontamer5788
Gerbil Elite
Posts: 516
Joined: Mon May 06, 2013 8:39 am

Re: Theranos

Thu Oct 10, 2019 9:03 pm

DrCR wrote:
dragontamer5788 wrote:
Behold, the SoftBank Vision Fund. Notice a pattern? When SoftBank owns a company, they pump it up severely. They profit at IPO.

That's representative of all venture capital. And venture capital, done right, does not mean the lack of failure, quite the contrary; it's just that the ones that pay off do so quite extensively.


Good venture capital companies hype up companies with actual potential. SoftBank's vision fund hypes up all their companies, to trick the general public into giving them more IPO money at launch.

There's a big difference. Fortunately, it seems like consumers are beginning to wise up to the game, but consumers still gave $8.1 Billion for Uber earlier this year. Softbank's Vision Fund is still making money from crappy, unprofitable "fake tech" companies.
 
just brew it!
Gold subscriber
Administrator
Topic Author
Posts: 53467
Joined: Tue Aug 20, 2002 10:51 pm
Location: Somewhere, having a beer

Re: Theranos

Fri Oct 11, 2019 9:26 am

Maybe their "vision" needs some corrective lenses...
Nostalgia isn't what it used to be.
 
Vhalidictes
Gerbil Jedi
Posts: 1809
Joined: Fri Jan 07, 2005 2:32 pm
Location: Paragon City, RI

Re: Theranos

Fri Oct 11, 2019 3:59 pm

just brew it! wrote:
Maybe their "vision" needs some corrective lenses...


I don't know, JBI. That's possible, but it's usually a pretty safe bet to assume the existence of bigger fools.

From what I could see Softbank is a pretty standard pump-and-dump operation, there's nothing strange or different going on there.
 
dragontamer5788
Gerbil Elite
Posts: 516
Joined: Mon May 06, 2013 8:39 am

Re: Theranos

Mon Oct 21, 2019 6:30 pm

https://techcrunch.com/2019/10/21/repor ... valuation/

Softbank taking full control of WeWork at $8 Billion.

SoftBank, a long-time WeWork investor, plans to invest between $4 billion and $5 billion in exchange for new and existing shares, according to CNBC . The deal, expected to be announced as soon as tomorrow, represents a lifeline for WeWork, which is said to be mere weeks from running out of cash and has been shopping several of its assets as it attempts to lessen its cash burn.


Another $4.5ish Billion to stabilize the company and maybe save whatever is left of it.

To be clear, it is reportedly the Vision Fund’s parent company, SoftBank Group Corp. that is taking control, with SoftBank International chief executive officer Marcelo Claure stepping in to support company management, per reports.


I'm not sure if it makes a big difference for Vision Fund (owned by SoftBank) vs Owned by Softbank directly really makes a difference... but its an interesting note to this story.
 
just brew it!
Gold subscriber
Administrator
Topic Author
Posts: 53467
Joined: Tue Aug 20, 2002 10:51 pm
Location: Somewhere, having a beer

Re: Theranos

Mon Oct 21, 2019 6:36 pm

Sounds like they are trying to slow the bleeding so they don't lose their entire original investment.
Nostalgia isn't what it used to be.
 
dragontamer5788
Gerbil Elite
Posts: 516
Joined: Mon May 06, 2013 8:39 am

Re: Theranos

Tue Oct 22, 2019 4:27 pm

just brew it! wrote:
Sounds like they are trying to slow the bleeding so they don't lose their entire original investment.


https://www.insider.com/wework-reported ... sh-2019-10

Apparently, WeWork needed the money so that WeWork could pay for severance. :o :o :o
 
just brew it!
Gold subscriber
Administrator
Topic Author
Posts: 53467
Joined: Tue Aug 20, 2002 10:51 pm
Location: Somewhere, having a beer

Re: Theranos

Tue Oct 22, 2019 4:40 pm

Heh. Sounds like things are even more effed up than had previously been disclosed. SoftBank's rescue attempt may be too little, too late.
Nostalgia isn't what it used to be.
 
derFunkenstein
Gerbil God
Posts: 25230
Joined: Fri Feb 21, 2003 9:13 pm
Location: Comin' to you directly from the Mothership

Re: Theranos

Tue Oct 22, 2019 5:06 pm

"so broke we can't afford to go under" is a new level of bankruptcy I've never seen before.
I do not understand what I do. For what I want to do I do not do, but what I hate I do.
Twittering away the day at @TVsBen
 
Vhalidictes
Gerbil Jedi
Posts: 1809
Joined: Fri Jan 07, 2005 2:32 pm
Location: Paragon City, RI

Re: Theranos

Wed Oct 23, 2019 11:37 am

derFunkenstein wrote:
"so broke we can't afford to go under" is a new level of bankruptcy I've never seen before.

IIRC, didn't that happen to SCO as well?
  • 1
  • 4
  • 5
  • 6
  • 7
  • 8

Who is online

Users browsing this forum: No registered users and 9 guests
GZIP: On