Why the World’s Youngest Self-Made Female Billionaire May Be in Big Trouble

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Theranos founder Holmes blasts Sunny Balwani before defense rests (cnbc.com)
Holmes, who was romantically involved with Balwani for over a decade, testified that their breakup was “a process.”
“He showed up at the church I would go to at night and at the Dish, which is where I used to run around Stanford,” Holmes said. “The places I would go outside work.”
Aww...she's a good little church girl. The jury can't send her to jail now, can they?

As she stepped down from the witness stand, Holmes turned to her right and looked directly to the jury box, where eight men and four women have listened to three months of testimony inside the San Jose courtroom. In the coming weeks, they will decide Holmes’ fate.

Why only 4 women in the jury? Shouldn't it be an even split, to make it seem more fair?
 
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The story of Elizabeth Holmes now belongs to the jury - The Verge

“You know that at the first sign of trouble, crooks cash out, criminals cover up, and rats flee a sinking ship,” Downey said. But Holmes was a devoted CEO who believed that her company was going to change the world. Instead of running, she brought in experts to scrutinize the testing program, Downey noted. “Are those the actions of someone who had been engaged in a conspiracy to defraud people?”

The jury should let her change the world. Spend more money of fat investors who would waste it on their lavish lifestyle anyway.
 
Reactions: zinfamous

herm0016

Diamond Member
Feb 26, 2005
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what a farce. she knows exactly what she was doing, and she knows exactly what she is doing now. she must be a psychopath.

i feel like its sexism. if this was a dude, they would string him up.
 
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The jury must acquit her for the sake of her kids. They need their mother to teach them how to dupe filthy rich investors and do so with such style and elegance that the investors don't know what hit them and they keep saying "but we were so impressed!". The kids will be so lost without their mother. Her legacy must live on for generations and generations! I bet if Elizabeth Holmes goes scot-free, she will run for President.
 

BUTCH1

Lifer
Jul 15, 2000
20,433
1,769
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what a farce. she knows exactly what she was doing, and she knows exactly what she is doing now. she must be a psychopath.

i feel like its sexism. if this was a dude, they would string him up.
She might well get strung up, it's in the jury's hands now, what shocked me is how this company, without a working prototype that indepenant evaluation could verify, grew to billions of dollars.
 

Greenman

Lifer
Oct 15, 1999
20,634
5,324
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She might well get strung up, it's in the jury's hands now, what shocked me is how this company, without a working prototype that indepenant evaluation could verify, grew to billions of dollars.
That doesn't surprise me at all. What surprises me is that it doesn't happen every week.
 

zinfamous

No Lifer
Jul 12, 2006
110,806
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That doesn't surprise me at all. What surprises me is that it doesn't happen every week.

I think this speaks to the differences in how people think, how they see the world. As a republican, you think the world is basically wicked and have no reason to trust any stranger, assume that the world is out to get you and you must get it first; everyone obviously sees this the way I do, right? Therefore--I do the bad thing first.

Liberals tend to be more idealistic and hopeful--admittedly, quite naively a lot of the time, but still--so the default is to trust a person when you meet them, and trust that they'll reveal how they are. We tend to think everyone is just trying to get on in life and not in a way that fucks anyone else over.

bringing it back: you just assume people are being duped by asshole scammers, every fucking week for big bucks in these sectors, because you just assume everyone is out to scam everyone else, and especially the rich, because somehow they must always be stupid enough to fall for what you believe happens constantly? (that part, I don't quite get, but whatever). My thought is that this is probably quite rare, because the kind of money involved in this industry, outside of what is still some very brainy people (Admittedly, outside of their lane when comes to venture capital--which is to your point about how it can be quite easy to dupe people that have an undeserved inflated opinion of their overall abilities), con artists probably don't have much success here (risk/reward) so they probably stick to the small/medium fish)
 
Reactions: Meghan54
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Con artists succeed because they tell people EXACTLY what they wanna hear. We have a recently hired con artist planning to make our company spend $200,000 a year on Azure instead of getting beefy Epyc servers at a one-time cost BECAUSE management loves the the idea of everything being in the cloud. I have been in meetings with him and he has no concept of benchmarking or performance. He just throws big words around and everyone cheers. His answer to "What if the allocated resources are not enough for our workloads?" was "We will just allocate more resources since that's so easy to do in the cloud". And everyone cheers. I'm the only one thinking, "And there goes more money down the drain. This idiot will do his part to run this company down into the ground." I can't say anything too forcefully because then I will become the bad guy who doesn't want to propel the company into a "cloud" future.
 
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Journalists were a party to Theranos’ failure, too, since they quoted people saying nice things about Holmes and the company. (Perhaps that was meant to suggest that Holmes used media reports—which she manipulated through selective disclosure—as a sort of moral compass telling her whether she was on the right track?)

Oh she is but a child! Too feeble-minded to tell right from wrong. They should have just gone with a plea of insanity. Only an insane person would perpetrate a fraud on such a grand scale and keep thinking everything will get better soon.
 

SKORPI0

Lifer
Jan 18, 2000
18,427
2,344
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4 counts out of 11.

Guilty - convicting her of three counts of wire fraud and one count of conspiracy to commit wire fraud by lying to investors to raise money for her company.
Not guilty - not guilty on four other counts related to defrauding patients who had used Theranos’s blood tests . - I was hoping for at least 1 or 2 counts guilty
Unable to reach a verdict - three counts of deceiving investors. - I was hoping for at least 1 or 2 counts guilty

Each count carries a maximum sentence of 20 years in prison, terms that are likely to be served concurrently. Ms. Holmes, 37, is expected to appeal. A sentencing date is expected to be set at a hearing on the three hung charges next week.
Stephanie Hinds, a U.S. attorney, said in a statement that the guilty verdicts reflected Ms. Holmes’s “culpability in this large-scale investor fraud.” On Monday, jurors told the court that they were deadlocked on three of the charges of defrauding investors. Judge Davila pushed them to continue deliberating, but they were unable to agree.

 
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Reactions: igor_kavinski
Dec 10, 2005
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I haven't looked into it, but I'm wondering if the defrauding patients thing hinges on "screening" tests vs "diagnostic" tests. Some screening tests can have appreciable false positive rates, but all screening tests are supposed to be followed up with diagnostic tests (ie, higher sensitivity and specificity) to confirm a condition.

Kind of what's described in this article the other day: https://www.nytimes.com/2022/01/01/upshot/pregnancy-birth-genetic-testing.html
 

Fritzo

Lifer
Jan 3, 2001
41,892
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Just last week read a cover story on her and the company (might have been in Fast Company or Wired magazine) and how she's going to change the medical industry. It would be something if the devices turn out to be crap.
Was also seeing a lot of peer reviewers warning "Something's fishy" because the company was making a lot of promises that were forever being delayed. Wondering if she was doing the "Say I have a miracle product, gather a bunch of money from investors, then actually start trying to make the product I said I had" scheme?
 
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I have a new legal tactic for her defense team. Let her work from jail and if she makes the magic happen, reduce her sentence. Plenty more old rich guys in the world left to be lured by her wide-eyed charms.
 

manly

Lifer
Jan 25, 2000
11,337
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Was also seeing a lot of peer reviewers warning "Something's fishy" because the company was making a lot of promises that were forever being delayed. Wondering if she was doing the "Say I have a miracle product, gather a bunch of money from investors, then actually start trying to make the product I said I had" scheme?
In Silicon Valley parlance, this is known as "fake it until you make it."
 
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He also clarified in the hearing that his unusual visit wasn't motivated to help Holmes but to promote healing.

"I don’t want to help Ms. Holmes," Rosendorff said. "She’s not somebody who can be helped. At this point she needs to help herself. She needs to pay her debt to society."

At another point, Rosendorff added that he did feel sorry that Holmes' children could grow up without a mother if she is sent to prison. Holmes gave birth to her first child late last year as her trial was nearing its end. In the hearing last month, she appeared visibly pregnant with her second child.

So star witness lost sleep over helping to send her to jail but still thinks she SHOULD BE in jail? Poor chap.
 

SKORPI0

Lifer
Jan 18, 2000
18,427
2,344
136
Imagine that..... There would we a public outcry if the sentencing US District Judge happens to agree.


Hope she gets what she deserves, and please no early release for good behavior. Send a clear message.

 
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Torn Mind

Lifer
Nov 25, 2012
11,782
2,685
136
Having kid or two is a great way to mitigate a sentence for criminals in general, leaving me to suspect some simply have one on purpose.
 
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Having kid or two is a great way to mitigate a sentence for criminals in general, leaving me to suspect some simply have one on purpose.
I suppose her reasoning could be that if she ends up in jail, she would be past menopause by the time she gets out. So I guess she did the prudent thing?
 
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