Theranos

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Yuli Ban
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Theranos

Post by Yuli Ban »

Here's a thread detailing the rise, fall, and bizarro ongoing impacts of Theranos, the greatest Silicon Valley scam yet



Fun fact: Moderna (the lads behind the mRNA revolution) were once compared directly to Theranos and considered to be a quack company. But lo and behold, they actually pulled through and delivered. Moderna is the angel to Theranos' devil.

Of course there are some key differences in terms of the situation presented. Moderna was doubted because they were secretive and published nothing, which is what they shared with Theranos. However, mRNA treatments had been studied and extensively proven as something worthwhile for decades; there were just no human trials and no interest in funding them until COVID-19 struck. Once the opportunity arose, they could rise to the challenge and prove themselves. Theranos' technology is literal science fiction, emphasis on fiction. Even with artificial superintelligence, you can't glean that much information out of that little blood. No matter your intelligence, you can't scoop a cup of water from one end of a pool to know what's going on at the other end. So there was no basis for their success, past, present, or future.
And remember my friend, future events such as these will affect you in the future
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wjfox
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Re: Theranos

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Elizabeth Holmes on trial: jury selection begins Tuesday for Theranos founder

Tue 31 Aug 2021 06.00 BST

The first phase of the trial of Theranos founder Elizabeth Holmes will start on Tuesday, with jury selection scheduled in a San Jose, California, courthouse.

Holmes is charged with six counts of fraud relating to her now-defunct medical startup. The company, founded in 2003, claimed it would revolutionize the medical testing space with a new blood diagnostic technology that could perform a range of tests on a small dose of blood. The claims were later revealed to be largely fabricated.

Theranos had reached a valuation of $10bn before reports from the Wall Street Journal and others revealed it was overstating the functions of its core technologies. The US Department of Justice accused Holmes and her former boyfriend and co-president Ramesh “Sunny” Balwani of defrauding both consumers who purchased and used the tests and investors who were convinced it would become profitable.

https://www.theguardian.com/technology/ ... ion-begins
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wjfox
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Re: Theranos

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Image
"Take it easy, nothing matters in the end."
– William Shatner
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Yuli Ban
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Re: Theranos

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wjfox wrote: Fri Sep 03, 2021 6:53 pm Image
Their valuation rise existed almost perfectly in the 2010s— truly a sign of the zeitgeist of the decade. When I think of the 2010s, Silicon Valley lunacy is close to the top 5 things that define it.
And remember my friend, future events such as these will affect you in the future
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Yuli Ban
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Re: Theranos

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And remember my friend, future events such as these will affect you in the future
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