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Old 02-05-2019, 03:29 AM   #41
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Or, as Buffet says, "when the tide goes out you can see who's been swimming naked".
She was worth $9 billion at one time. Then the media said said she lost it all. Not so fast. If she was smart she could have cashed out some while the going is good and could have invested in various ways.
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Old 02-05-2019, 04:41 AM   #42
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Nothing sad about it. Holmes is a fraud. In addition to screwing shareholders and employees, how many people got incorrect blood results...that's where my sympathy lies. Imagine someone got a false positive and didn't get treated somewhere in that mess.
Precisely. A shame for the employees and stakeholders but much worse for the people who made medical treatment decisions based on the false information produced by one of the Theranos devices.

Something is odd about the look in Holmes' eye in the front-facing "stare at the camera" photos. Like looking into a void. The gaze of a sociopath perhaps....
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Old 02-05-2019, 10:17 AM   #43
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She was worth $9 billion at one time. Then the media said said she lost it all. Not so fast. If she was smart she could have cashed out some while the going is good and could have invested in various ways.
I always wondered, especially during the first internet boom, how much of investors' money was skimmed off the top where CEO/CFO were college roommates, or family.
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Old 02-05-2019, 10:50 AM   #44
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Fascinating. I'm intrigued to read the book now.

I also found another interesting video on YouTube regarding how Elizabeth Holmes intentionally used a fake, baritone-type voice in order to appear more masculine and thereby (the theory goes) be taken more seriously by investors. Apparently, she exhibits certain traits commonly seen in sociopaths.

https://www.inc.com/peter-cohan/6-wa...childhood.html
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Old 02-05-2019, 11:35 AM   #45
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She was worth $9 billion at one time. Then the media said said she lost it all. Not so fast. If she was smart she could have cashed out some while the going is good and could have invested in various ways.
Yup.
Bet she's driving a 12 year old Corolla and had to move to Gary Indiana - down wind side of town.
Probably still has a networth at least 100x mine and a good chance in 2 more years some fool board will give her a C level job alà Carly Fiorina
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Old 02-05-2019, 11:37 AM   #46
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I always wondered, especially during the first internet boom, how much of investors' money was skimmed off the top where CEO/CFO were college roommates, or family.
It happens more than we think. Media likes to talk about rags to riches to rags but money is "set aside" and put somewhere safe and gathering interest for a rainy day.
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Old 02-05-2019, 11:56 AM   #47
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Probably still has a networth at least 100x mine and a good chance in 2 more years some fool board will give her a C level job alà Carly Fiorina
Yeah, she probably has money squirreled away somewhere, although according to reports I've read, she didn't sell any of her Theranos stock and actually owes (or owed) the company $25MM related to exercising her stock options.

Also, as part of the settlement of the fraud case brought against her by the SEC, she is not allowed to serve as an officer of a public company for 10 years. Of course, she could always move to a country with less regulatory oversight in an emerging markets region and try to scam some other unwitting, unsuspecting investors. Given the very high profile of her case, that might be pretty hard to do though.
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Old 02-05-2019, 12:49 PM   #48
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In the many depositions she has given, " I don't know " was a good answer for most questions.

One youtube comment posted :

Question in deposition " Do you swear under penalty perjury that the testimony you will be giving today will be truthful and complete " -

Holmes answer: " I Don't Know "
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Old 02-05-2019, 01:28 PM   #49
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She could always run for head of the HOA Architectural committee. Or start an entrepreneurial think-tank.
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Old 02-05-2019, 01:57 PM   #50
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There is a great documentary on Netflix titled "The Bleeding Edge". It isn't about Theranos, but the medical device industry in general, and how little and sometimes non-existent the regulation is for medical devices. It's a fascinating flick and easily demonstrates how these types of things come to be.
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Old 02-05-2019, 01:59 PM   #51
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It's not surprising to see the VC $$$ dumped into it.

They do due-diligence, but only after they are sold on the idea. And once they are sold, they don't really want to find anything bad because they are already believers.

Many think VC'ers are a sort of another check and balance for a corporation. Like they need to worry about whether they will please the VC. But once the VC firm has bought in, they are all aboard the hype train until it's completely obvious it's a failure.

The VC wants to pump it up and start trading out of shares.

They care very little about how the company is actually doing. Just what hype can be sold to gain more positive attention. (increase stock price).
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Old 02-07-2019, 09:32 AM   #52
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The entire story is fascinating, especially the aspects having to do with Elizabeth Holmes' persona, both genuine (ruthless, amoral ambition and greed) and invented (genius visionary ala Steve Jobs). She seems to be much like a younger, female version of Bernie Madoff.

I've been listening to a very good podcast about the whole sordid affair. It's called The Dropout (alluding to the fact the she dropped out of Stanford after only 1½ years to found Theranos). Highly recommended listening for anyone following this thread.

https://itunes.apple.com/us/podcast/...449500734?mt=2
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Old 02-09-2019, 07:29 PM   #53
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Originally Posted by Lakewood90712 View Post
In the many depositions she has given, " I don't know " was a good answer for most questions.

One youtube comment posted :

Question in deposition " Do you swear under penalty perjury that the testimony you will be giving today will be truthful and complete " -

Holmes answer: " I Don't Know "
Not to defend her, it sure seems like she was a fraud, but...

I know some engineers/managers who were called into depositions (patent cases, anti-trade practices, etc). They were instructed by our MegaCorp lawyers to never lie, but also never expand on anything, and if they had any doubt at all about their memory of an event, to answer "I don't know", or "I don't recall". One of them related that the opposing lawyer at one point said something like "Wow, for a bunch of super bright engineers at the top of their field, they sure don't know very much!".


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I'm sure she will end up with a wonderful career in politics.😀
Did you notice their list of investors was almost entirely ex-government ex-military people? The people who are supposed to use our tax dollars wisely?

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Old 02-09-2019, 07:32 PM   #54
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The entire story is fascinating, especially the aspects having to do with Elizabeth Holmes' persona, both genuine (ruthless, amoral ambition and greed) and invented (genius visionary ala Steve Jobs). She seems to be much like a younger, female version of Bernie Madoff.

I've been listening to a very good podcast about the whole sordid affair. It's called The Dropout (alluding to the fact the she dropped out of Stanford after only 1½ years to found Theranos). Highly recommended listening for anyone following this thread.

https://itunes.apple.com/us/podcast/...449500734?mt=2
I just finished the youtube links, I'll listen to the podcast next. But a sad thing in all this, is she had to be an extremely bright person. It's not easy to pull off a fraud at that level. What a shame she didn't channel it in a more positive direction.

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