Author Topic: This woman is really amazing!  (Read 72966 times)

siddharth18

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Re: This woman is really amazing!
« Reply #260 on: May 31, 2018, 05:12:38 PM »
How could someone have spotted Theranos as being a fraud prior to this becoming publicly known?


https://www.bloomberg.com/view/articles/2018-05-30/theranos-fatal-flaws-were-in-plain-sight


rb

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Re: This woman is really amazing!
« Reply #261 on: May 31, 2018, 06:10:27 PM »
How could someone have spotted Theranos as being a fraud prior to this becoming publicly known?


https://www.bloomberg.com/view/articles/2018-05-30/theranos-fatal-flaws-were-in-plain-sight
Just like Spekilatius said. Spotting and proving are two different things.

Fraudsters by definition are good at bullshit ans weaving a good story. Then people want to believe. They want to believe the story. Anyone who points out that the emperor has no clothes is a nini who wants to ruin the story they want to believe in. Just look at the title of this thread.

If you need evidence of that take a look at how people reacted on the Valeant thread when some members were pointing out that things don't quite add up. You can also look at the Tesla thread to see how some people reach when you point out inconvenient facts. In fact you don't have to go that far. You can look earlier in this thread at reactions to randomep's pointing out that Holmes' qualifications should have raised a red flag. So who needs that aggravation especially when there's nothing to gain. Much easier to realize something smells fishy and just move on.

LongHaul

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Re: This woman is really amazing!
« Reply #262 on: June 03, 2018, 01:47:44 PM »
Good article.  Thanks for posting.  The book sounds good too. 
Positive proof is difficult but there are patterns that we can learn from.

There can be massive blowback when you tell someone negative things about their stocks. 
This is a friend (not myself) who is a very capable consultant for oil and gas investing. 

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siddharth18

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Re: This woman is really amazing!
« Reply #263 on: June 15, 2018, 02:19:00 PM »
U.S. Files Criminal Charges Against Theranosís Elizabeth Holmes, Ramesh Balwani

WSJ (paywall) link: https://www.wsj.com/articles/u-s-files-criminal-charges-against-theranoss-elizabeth-holmes-ramesh-balwani-1529096005

Bypass paywall link: https://outline.com/dUwMC4
« Last Edit: June 15, 2018, 02:20:45 PM by siddharth18 »

rukawa

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Re: This woman is really amazing!
« Reply #264 on: June 17, 2018, 12:27:02 PM »
I don't really think Theranos is exceptional. I think most startups are pretty much run the same way:

Following are two articles that are pretty much on point:

https://slate.com/business/2018/06/elizabeth-holmes-deserves-prison-but-her-indictment-wont-make-silicon-valley-any-less-reckless.html?via=homepage_taps_top

http://fortune.com/silicon-valley-startups-fraud-venture-capital/

« Last Edit: June 17, 2018, 12:31:47 PM by rukawa »

Liberty

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Re: This woman is really amazing!
« Reply #265 on: June 18, 2018, 06:11:36 PM »
Quote
It's _interesting_ that Holmes is being used as a stick to beat tech figures who've actually built things, and who never had anything to do with her, when a coalition of journalists and old-power apparatchiks were mostly responsible for her rise. https://www.wsj.com/articles/the-age-of-tech-superheroes-must-end-1528387420

https://twitter.com/St_Rev/status/1008858061619040256
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rb

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Re: This woman is really amazing!
« Reply #266 on: June 18, 2018, 08:09:50 PM »
Quote
It's _interesting_ that Holmes is being used as a stick to beat tech figures who've actually built things, and who never had anything to do with her, when a coalition of journalists and old-power apparatchiks were mostly responsible for her rise. https://www.wsj.com/articles/the-age-of-tech-superheroes-must-end-1528387420

https://twitter.com/St_Rev/status/1008858061619040256
Theranos is the fault of the media?! Get the outta here man!  The investors who kept giving it money had nothing to do with it? Give me a break. And old-power apparatchiks? Mad dog is the current secretary of defense.

randomep

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Re: This woman is really amazing!
« Reply #267 on: June 18, 2018, 10:12:40 PM »
I don't really think Theranos is exceptional. I think most startups are pretty much run the same way:

Following are two articles that are pretty much on point:

https://slate.com/business/2018/06/elizabeth-holmes-deserves-prison-but-her-indictment-wont-make-silicon-valley-any-less-reckless.html?via=homepage_taps_top

http://fortune.com/silicon-valley-startups-fraud-venture-capital/

Most startups are run that way???? I have worked for about 8 startups (I have lost exact count), none sold a product that didn't work.  My area is chip making in silicon valley.  Behaving like that is like us selling a chip that doesn't work. Uh it is kind of hard to fake a video decoder or a WIFI transmitter. It either works or it doesn't work. She told the world on a secretive product and faked the results by diluting blood and using other people's machines.

I have never heard of any of my companies getting into lawsuits with their employees. I can openly advertise what I am working on and at what company on my resume on Monster, there is nothing my employer can do about it.  Despite the mystique of silicon valley virtually every company knows what every other company is doing, there is nothing miraculous about what we do, it is just a good culture to build stuff.

I read the book Bad Blood and that is one shit company taking things to the extreme.


Liberty

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Re: This woman is really amazing!
« Reply #268 on: June 19, 2018, 05:17:16 AM »
Quote
It's _interesting_ that Holmes is being used as a stick to beat tech figures who've actually built things, and who never had anything to do with her, when a coalition of journalists and old-power apparatchiks were mostly responsible for her rise. https://www.wsj.com/articles/the-age-of-tech-superheroes-must-end-1528387420

https://twitter.com/St_Rev/status/1008858061619040256
Theranos is the fault of the media?! Get the outta here man!  The investors who kept giving it money had nothing to do with it? Give me a break. And old-power apparatchiks? Mad dog is the current secretary of defense.

I don't know who you're talking to, but not to me or to the person I quoted.

Theranos was a media darling, with Holmes on lots of magazine covers, being compared to Steve Jobs, with breathless features about her brilliance and personal life and such. The media certainly helped a lot to legitimize the company to the wider world, no doubt about it. Most startups never get that kind of coverage. Holmes was just a good story, and the media latched to it and ran with it.

And "old power" doesn't mean "not in power anymore". I think it can mean a few things: Old as opposed to new, just look at their board, it's a bunch of old military and diplomats/politicians, old media moguls, etc. It wasn't backed by the SV tech guys, or Google and Sequoia and Elon Musk or whatever. Also, old power can just mean they've been in power for a long time, again, just look at the board.
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