Just when you thought that the biggest ever “multi-billion” private company that also happens to be an utter fraud, would quietly disappear before it risked attracting even more unwarranted attention from regulators, enforcers, and criminal investigators which could potentially lead to prison time for “billionaire” Elizabeth Holmes, here she comes again reminding everyone of her fallen from grace presence, in this case with what should be the terminal news for this company, namely that as the WSJ reports (and as the company confirms) Theranos has told federal health regulators that the company voided and revised two years of results from its Edison blood-testing devices and has issued tens of thousands of corrected reports to doctors and patients.
As a reminder, the basis for Theranos ludicrous $9 billion valuation which it appears was achieved without anyone doing any actual due diligence, were the “Edison” machines which were touted as revolutionary – not just by Holmes but by the fawning media and even the Clintons. Theranos has now told regulators that it threw out all Edison test results from 2014 and 2015, effectively confirming it has no proprietary technology, and also validating that its valuation should be zero.
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In other words, Theranos may have put as many as 890,000 lives per year in jeopardy with its fake technology.
Yeah, but she (Elizabeth Holmes) was a hot, smart female head of a tech company, and that is all that mattered.
Seriously, I’d like to read the rest of this, but that’s a hell of a run-on sentence in the first line. I don’t expect (need, or want) “layers and layers” of checking from a blog, but geeze…
Agreed. I would have had my knuckles rapped for that one.
I know, I thought of cutting into the sentence halfway through in the quoting.
Ha ha! Never saw the run-on (!) but did feel the proper line is ‘doo-doo’ diligence!
You should read the rest of it to discover the -real- story, that Theranos has a $9 billion dollar valuation because of JOURNALISM. The listing of news stories at the bottom of the page is shockingly long and extensive. Not to mention, their board of directors is packed with some very interesting names. Like Clinton, ferinstance.
Being a grammar troll makes you miss things.
A few weeks ago Elizabeth Holmes was one of the “strong women” in a PBS documentary.
She was supposed to be some modern medicine genius…turns out she is more a genius at scamming people than anything…and even then, the scam did not last very long
Well… feminists have definitely proved they are as capable as men when it comes to doing bad things, lying, cheating,manipulating, bribing etc etc…
as far as being as capable as men for doing good things…nope…they are not there yet.
No trolling, Phantom, I read Zero Hedge regularly. But as with Van Halen’s “brown M and Ms”, I take such things as a sign that someone isn’t paying attention. This wasn’t a small typo, it was an entire paragraph which obviously needed, but didn’t have, an editor. Some might ask, “what else did they screw up”?
We’re all grownups here, mostly, and we wouldn’t be reading SDA unless we already knew that most MSM, ESPECIALLY the business section is “pay for play”. Yes, this important, but as such, what’s your problem with getting it correct?
soooooooo many players here that want certain things to happen, that are the embodiment of the saying ‘people believe what they want to believe’. few have the ability to truly look objectively, certainly not when it comes to their own affairs. the comfort zone for myself is that objective look, like the quality of evidence measured before it is accepted. then when on less occasions self is in the picture, you just remove self from the picture and apply the tried and true.
not doing so is for instance, the reason ponzi schemes have succeeded for a century.
soooooooo many players here that want certain things to happen, that are the embodiment of the saying ‘people believe what they want to believe’. few have the ability to truly look objectively, certainly not when it comes to their own affairs. the comfort zone for myself is that objective look, like the quality of evidence measured before it is accepted. then when on less occasions self is in the picture, you just remove self from the picture and apply the tried and true.
not doing so is for instance, the reason ponzi schemes have succeeded for a century.
So she was using “adjusted” data. Seems her biggest mistake was doing so in the wrong field of endeavor.
“This wasn’t a small typo, it was an entire paragraph which obviously needed, but didn’t have, an editor. Some might ask, “what else did they screw up”?”
Well, you can’t find out what else they screwed up if you stop reading.
It is the internet. People are writing fast, they don’t get paid for grammar. Or at all, usually. Editors don’t actually edit either, from what I commonly see out there.
If you stop reading at the first spelling error or run-on sentence, you’re going to miss an awful lot. As you did in this case.
“…If you stop reading at the first spelling error or run-on sentence, you’re going to miss an awful lot. As you did in this case…”
I agree,
And about that long sentence…English is not even my first language, French is, and my English is self taught, yet I was able to read and understand everything in that long sentence, of course it was a bit more difficult but so what?
The legal fine print on my cell phone bill is far more harder to “decipher” than that.
did Kate hire you for comedic break???
Not to be petty, but has anyone heard Elizabeth Holmes speak?? Well, she sounds like a man. It may be something she has cultivated. Listen for yourself.
https://www.bing.com/videos/search?q=Elizabeth+Holmes&view=detail&mid=11393AD530015EC8970611393AD530015EC89706&FORM=VIRE
She sees herself as a visionary. And indeed her vision is one that no one will reject. She sees herself as Steve Jobs ….. she even dresses like him.
Her company and it’s magic machines are all too much like cold fusion (LERN). Everyone is in favor of it but does the E-CAT really work. No one knows because no one is allowed to see inside these magic machines.
My own brother-in-law (an ophthalmologist) partnered with a sleazy investment “guru”, and created several FAKE medical device companies. They managed to fleece little grandmas and grandpas out of nearly $ 3 million dollars before they were stopped by the SEC. Sadly, they never spent one day in jail, despite destroying the lives of several people. There never were any REAL medical devices … it was a total FRAUD … I only found out about his “history”, after he took my mother-in-law down for $ 250,000.00. No, he didn’t start a new “medical device” scam … Nope … he started a new “green” battery co. A Zinc-air battery co. … that was promised to be needed by the solar and wind industries. Yes, another total SCAM !!! Such a scumbag !!!
LENr, not LERN.
So he’s still walking around with the same amount of sh!t in him as the rest of us… because why??
Ponzi isn’t famous for inventing the pyramid scheme, he’s famous for getting caught.
http://myiq.in/wp-content/uploads/2016/01/12238469_10156144149365411_5265691099423729128_o.jpg
Well, she certainly set her hair on fire, at least — and now she’s furiously beating the flames out with a hammer.
Don’t forget, Theranos had CC approval (CLIA certification) because the government is here to keep us safe.