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just brew it!
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Re: Theranos

Sat Mar 24, 2018 6:53 am

UberGerbil wrote:
Bonus from the comment thread for that image, for one of the soldering threads here.

:lol:

I have that exact soldering iron; cheap-a** Radio Shack Special FTW! (Even if it was plugged in and she was holding it right, I doubt it would be very effective on the tiny surface mount components over by the PCI slots...)
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Captain Ned
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Re: Theranos

Sat Mar 24, 2018 7:48 am

I've got the same iron and those are some seriously crispy fingers.
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Re: Theranos

Sat Mar 24, 2018 12:04 pm

I feel bad for both of those people because neither one of them is trying to pass themselves off as a total genius. OTOH, Lizardlips Holmes did.
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Re: Theranos

Tue May 22, 2018 11:29 am

So for those that can't get enough, the WSJ reporter who pushed the story into mainstream has a book out. (NYT review). One thing that's interesting in the "story behind the story": Rupert Murdoch (owner of the WSJ along with a good chunk of the newsmedia landscape) was Theranos' biggest investor, and Holmes pleaded with him to kill the story. To Murdoch's credit, he stayed out of it and the story ran. I am in no way a fan of that man (and he's gone the other way when given the same kind of decision in the past) but full props here.
 
just brew it!
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Re: Theranos

Tue May 22, 2018 12:45 pm

Sounds like he realized he had been scammed, figured he wasn't getting his investment back regardless, and decided to get some revenge.
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just brew it!
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Re: Theranos

Tue May 22, 2018 7:30 pm

Nostalgia isn't what it used to be.
 
UberGerbil
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Re: Theranos

Wed May 23, 2018 12:42 pm

One of the lessons (as if it wasn't clear already from past scandals like Enron and the financial crisis): listen to the low-level people, including the ones who were fired. One or two of them might just be bellyachers with an axe to grind, but when multiple people in a position to know keep pointing out the lack of clothes on the emperor, there's something wrong. From the NYTimes review:
nytimes wrote:
[former secretary of state and Theranos board member George] Shultz helped his grandson land a job; when the kid reported back that the place was rotten, Grandpa didn’t believe him. There is a larger moral here: The people in the trenches know best. The V.I.P. directors were nectar for investor bees, but they had no relevant expertise.

Even outsiders could have spotted red flags, but averted their eyes as if they wanted to believe. Fishy excuses — Holmes blamed a production delay on an earthquake in Japan — were blithely accepted. When a Walgreens team visited Theranos it pointedly asked for — and was denied — permission to see the lab. A company consultant pleaded that the chain not go ahead with in-store clinics. “Someday this is going to be a black eye,” he predicted. But Walgreens was plagued by a “fear of missing out.” Like many executives, they were looking over their shoulder and not at the evidence.

Of course you have to know about the low level people raising the red flags. That's not easy, even today when sites like glassdoor exist. Which is another reason why real journalism (ie the kind that confirm information and get second sources, not just run with whatever's available for the current news cycle) is more important than ever.
 
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Re: Theranos

Fri May 25, 2018 6:24 pm

So I bought John Carreyrou's (the WSJ reporter who wrote the original investigative pieces in 2017) book "Bad Blood" about the saga. I really enjoyed the book and it was a quick read. A couple of points that I gleaned from it:
1. Theranos was fairly unique in Silicon Valley, as it had a product (instead of an idea) that could be monetized in an existing industry with huge revenues (and that was growing). It explains some of the fawning
2. Everyone assumed they were legit (as they had CLIA certification, some official FDA recognition, and patents)
3. They were extremely litigious. They went after those that talked to Carreyrou, hard. Tyler Schultz alone had $400,000 in attorney's fees
4. Their board was worthless (though Holmes controlled the votes, anyway).
 
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Re: Theranos

Sat Jun 16, 2018 12:57 am

New federal criminal charges against Holmes and Balwani:

https://www.wsj.com/articles/u-s-files- ... 1529096005

Apparently ten counts including nine wire fraud and one conspiracy to commit wire fraud. If convicted, each could face a maximum sentence of 20 years in the Martha Stewart Special, a $250k fine, and restitution requirements.
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just brew it!
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Re: Theranos

Wed Sep 05, 2018 8:09 am

Nostalgia isn't what it used to be.
 
DancinJack
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Re: Theranos

Wed Sep 05, 2018 11:21 am

I'd expect her to be appointed HHS Secretary next week!
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Re: Theranos

Fri Sep 07, 2018 10:05 am

DancinJack wrote:
I'd expect her to be appointed HHS Secretary next week!

:lol:
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Re: Theranos

Fri Mar 15, 2019 8:37 am

 
mattshwink
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Re: Theranos

Fri Mar 15, 2019 9:15 am

ABC had a good podcast (6 episodes) called The Dropout which culls some of their depositions from all of the lawsuits (Walgreens, investors) and you hear from both Holmes and Balwani in the testimony, as well as some Theranos employees (such as Erica Cheung and Michael Craig) as well as Balwani's lawyer. If you read Carreyrou's book some of it is retread, but there are some new tidbits that made it worth it (to me).

One of the best more recent articles was by Nick Bolton from Vanity Fair about what happened as Theranos collapsed: https://www.vanityfair.com/news/2019/02/inside-elizabeth-holmess-final-months-at-theranos. He also had an episode of his Podcast (Inside the Hive with Nick Bolton) about the article (mostly the same).

Tonight (March 15th) ABC is going to have a 2 hour episode of 20/20 (9PM EDT) that follows-up on The Dropout podcast (not sure how much is going to rehash and how much new information their will be).
 
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Re: Theranos

Fri Mar 15, 2019 9:43 am

The 1701 Page Mill Road building is also up for lease, and is in the same configuration (currently) as when Theranos occupied it (which highlights the circular geometry mentioned in the book and some articles):
http://studios.com/projects/1701_page_mill_road/
http://images2.loopnet.com/d2/_7CcoFxqrWIJAMotANXNuWOzXqVbNimio8L8zBjpKgU/document.pdf
http://images4.loopnet.com/d2/iAJfMIqw6jDQH6n2Hzz6hWznFgGF-qoVDf5x4h3DEPg/document.pdf
 
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Re: Theranos

Fri Mar 15, 2019 10:10 am

The Egg wrote:

So, I'm pumped for the doc. I read Bad Blood and it was pretty great too. This story is just so nuts. It's really hard to believe it is real life at times.
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Re: Theranos

Fri Mar 15, 2019 10:22 am

DancinJack wrote:
This story is just so nuts. It's really hard to believe it is real life at times.

That could be said of many aspects of the world today. Sometimes I feel like I'm watching a movie about some bizarre alternate reality.
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UberGerbil
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Re: Theranos

Fri Mar 15, 2019 11:53 am

just brew it! wrote:
DancinJack wrote:
This story is just so nuts. It's really hard to believe it is real life at times.

That could be said of many aspects of the world today. Sometimes I feel like I'm watching a movie about some bizarre alternate reality.

This is the darkest timeline.
Well, not the darkest (at least until Skynet gets going). But.. darker.
 
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Re: Theranos

Fri Mar 15, 2019 1:51 pm

Ars has a review (well more of a summary really) of the doc. But the promoted comment at the end is really the kicker for me. Theranos as the Facebook of personal medical data (you freely give it to them, they do... whatever they want with it) is chilling. And even though this first attempt flamed out spectacularly, you know there are a whole string lined up with the same goal in mind.
 
DancinJack
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Re: Theranos

Fri Mar 15, 2019 1:55 pm

UberGerbil wrote:
Ars has a review (well more of a summary really) of the doc. But the promoted comment at the end is really the kicker for me. Theranos as the Facebook of personal medical data (you freely give it to them, they do... whatever they want with it) is chilling. And even though this first attempt flamed out spectacularly, you know there are a whole string lined up with the same goal in mind.

Oh yeah, for sure. I'd (kinda) like to use one of those DNA/ancestry things, but the implications of those companies having YOUR DNA and CC/address/etc are just a little too scary for me.
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Re: Theranos

Fri Mar 15, 2019 2:01 pm

DancinJack wrote:
UberGerbil wrote:
Ars has a review (well more of a summary really) of the doc. But the promoted comment at the end is really the kicker for me. Theranos as the Facebook of personal medical data (you freely give it to them, they do... whatever they want with it) is chilling. And even though this first attempt flamed out spectacularly, you know there are a whole string lined up with the same goal in mind.

Oh yeah, for sure. I'd (kinda) like to use one of those DNA/ancestry things, but the implications of those companies having YOUR DNA and CC/address/etc are just a little too scary for me.

What's worse is that you don't really have any control over whether they get it or not. I have aunts/uncles who have done the DNA ancestry thing on both sides, and as we saw by the Golden State Killer case, having a close relative's DNA is just about as good as having yours.
 
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Re: Theranos

Fri Mar 15, 2019 3:17 pm

The Egg wrote:
What's worse is that you don't really have any control over whether they get it or not. I have aunts/uncles who have done the DNA ancestry thing on both sides, and as we saw by the Golden State Killer case, having a close relative's DNA is just about as good as having yours.

True, I just try to control what I can within reason.
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Re: Theranos

Sat Mar 16, 2019 6:39 am

It's truly amazing, and horrifying, just how far Holmes was able to get with ideas that were nothing more than science fiction, using lots of corporate-psyche buzzwords and cute catch phrases. The snow job she did on people who should have known better is most impressive. I'm unsure as to whether that's a judgment on the sheer power and audacity of her cult of personality, or the lack of judgment of people who had far more dollars than sense.

Was the woman really nothing more than an epic snake oil salesman in a black turtleneck? The capacity for otherwise smart people to become so utterly outwitted by a college dropout is breathtaking.

I read a story recently that lots of people who were involved with Theranos are now having a very hard time finding work. No one wants to be associated with that dumpster fire. The people who worked there the longest are really branded with the mark of Cain, especially those who remained after the WSJ story first broke. The sad truth is that most of the Theranos rank and file had no idea what was going on behind the scenes. They didn't realize the science was all junk and their entire organization was little more than an elaborate, high-stakes house of cards. And the strong winds were coming.
I wish I had gone to med school.
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