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283 0 obj /K 193 0 R endobj /Pg 258 0 R /Lang (EN-US) << << endobj /P 8 0 R /Pg 238 0 R /P 271 0 R /S /LBody << GET FOX BUSINESS ON THE GO BY CLICKING HERE. << /P 381 0 R Entrepreneurship lives in the realm of threading between the present and the future. endobj Market data provided byFactset. /Pg 256 0 R Zippia's Best Places to Work lists provide unbiased, data-based evaluations of companies. endobj /S /LI 376 0 obj >> /K 27 >> >> >> Walgreens ended its blood-testing partnership with the company, and the Department of Health and Human Services effectively banned Theranos in 2016 from doing any blood testing work at all. /S /LBody The indictment alleges that the defendants used a combination of direct communications, marketing materials, statements to the media, financial statements, models, and other information to defraud potential investors. /Lang (EN-US) << >> Carreyous account of Safeways engagement with Theranos is powerful. << /Tabs /S endobj 330 0 obj /S /LI 320 0 obj null null 152 0 R null null] emblazoned in block capitals in the Theranos lobby, was 'Do or do not. Adobe PDF Library 15.0; modified using iText 2.1.7 by 1T3XT 293 0 obj << Sentencing Guidelines and the federal statute governing the imposition of a sentence, 18 U.S.C. /P 393 0 R But what may be less intuitive is the effect that such optimism likely had on the ability of the companys senior leadership to consider the implications of their decisions and following actions. 235 0 obj /Contents [425 0 R 426 0 R 427 0 R] >> 311 0 obj /StructParents 18 >> 62 0 obj /Pg 256 0 R /PageLayout /OneColumn >> << /S /L /K 186 0 R /P 8 0 R /Tabs /S /K 232 0 R /Contents [429 0 R 430 0 R 431 0 R] /Lang (EN-US) endobj endobj . endobj << 162 0 obj /CropBox [0 0 612 792] /Count 5 endobj /P 364 0 R The two pleaded not guilty to wire fraud and conspiracy to commit wire fraud. 282 0 obj /Length 502 0 R endobj >> /Lang (EN-US) /ITXT (2.1.7) /MCID 2 >> /MCID 2 /K 49 Holmes said she was inspired to start the company in response to her fear of needles. >> 249 0 obj Theranos' mission was "to make actionable health information accessible to people everywhere in the world, at the time they most need it." It was a lofty, inspiring, and valiantly unifying purpose, . /Type /Page Peter DaSilva/Reuters. 123 0 obj >> << >> endobj << /S /P << >> /ParentTreeNextKey 24 /Pg 245 0 R >> /K 148 0 R /Lang (EN-US) << 15 0 obj /Lang (EN-US) /P 341 0 R /Pg 235 0 R /StructParents 8 70 0 obj /Pg 235 0 R What's everyone talking about? 244 0 obj Instead of sticking with them, Holmes and her team could have put an equal amount of energy and ingenuity into developing a safe user-friendly technique to draw the adequate amount of blood necessary. /K 6 /P 345 0 R << /K 14 D:20180314151216 168 0 obj << 67 0 obj /K 18 /CropBox [0 0 612 792] 269 0 obj endobj 259 0 obj 7 [null null 147 0 R null null null 148 0 R null null null 2018-03-14T08:41:27-07:00 << /Tabs /S But thats not what the company was telling investors, according to new documents shared during the jury trial of Theranos founder and CEO Elizabeth Holmes. Mission Statement. /K [276 0 R 277 0 R 278 0 R 279 0 R 280 0 R 281 0 R 282 0 R 283 0 R 284 0 R 285 0 R /S /P Getty Images. /K [26 395 0 R] << /Lang (EN-US) >> Answer 1. /S /LBody According to the indictment, Holmes and Balwani used advertisements and solicitations to encourage and induce doctors and patients to use Theranoss blood testing laboratory services, even though the defendants knew Theranos was not capable of consistently producing accurate and reliable results for certain blood tests. 163 0 obj /S /LBody << 299 0 obj /K 185 0 R endobj /Lang (EN-US) /K 116 0 R /K 5 /K 26 endobj 22 [70 0 R 71 0 R 72 0 R 73 0 R 74 0 R 75 0 R 76 0 R 77 0 R 78 0 R 79 0 R << endobj << /Type /MCR endobj /Rotate 0 >> endobj /K [380 0 R 381 0 R] << /K 192 0 R /CropBox [0 0 612 792] In opening statements, a federal prosecutor depicted Balwani as an instrumental accomplice who helped Holmes pull off a huge scam tied to Theranos' blood-testing technology. << /P 50 0 R /Pg 257 0 R /Pg 238 0 R /S /LBody About us Our mission is to make actionable information accessible to everyone at the time it matters. /K 6 /Type /Metadata /Lang (EN-US) Holmes, at one point the nations youngest self-made female billionaire, and her former chief operating officer Ramesh Balwani, were indicted by federal prosecutors in June 2018 and charged with two counts conspiracy to commit wire fraud and nine counts of wire fraud each. 93 0 obj /S /LI Theranos' mission: a blood test requiring only a pinprick of blood, enough to run dozens of medical tests on the startup's hi-tech machines. /Pg 235 0 R /K 6 /S /LBody /S /LBody Holmes dropped out of Stanford University at 19 to start the medical diagnostics company in 2003. >> << >> Mr. Balwani's lawyer started his opening statement by deflecting blame onto Ms. Holmes, who was the chief executive of Theranos. endobj /Lang (EN-US) /K 14 309 0 obj endobj 10 0 obj 105 0 R 106 0 R 107 0 R 108 0 R 109 0 R 35 0 R 36 0 R 37 0 R 38 0 R null << 143 0 obj null null 131 0 R null null] >> /Pg 244 0 R /S /LBody >> /Annots [] /Lang (EN-US) According to Temporal Construal Theory, a compelling, unfulfilled mission can trigger this type of operational myopia. (Photo by Brad Barket/Invision/AP). /P 8 0 R >> /S /LBody The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Cond Nast. >> /S /LBody << null 47 0 R null null 129 0 R null null null 130 0 R null << >> . /S /P /P 8 0 R /Pg 242 0 R /Resources 444 0 R /S /LI endobj 41 0 obj /Lang (EN-US) << << /P 8 0 R >> /P 55 0 R << 365 0 obj /Lang (EN-US) endobj << << 296 0 obj /S /P /S /LBody /Pg 235 0 R << /S /P /MCID 2 /S /LBody << /K 6 /P 8 0 R /K 13 Rankings are based on government and proprietary data on salaries, company financial health, and employee diversity. /Pg 255 0 R /Marked true /Rotate 0 /P 55 0 R 155 0 obj /Outline /Span << << /P 8 0 R /S /L >> %PDF-1.5 Holmes, who founded Theranos in 2003 at age 19 with the lofty mission of revolutionizing blood testing, has pleaded not guilty. Anyone who engages in deceptive practices should know they will not go undetected and will be held accountable. /Pg 244 0 R 388 0 obj /K 21 /P 267 0 R /Type /MCR /Contents [409 0 R 410 0 R 411 0 R] endobj The indictment charges each defendant with two counts of conspiracy to commit wire fraud, in violation of 18 U.S.C. /Pg 235 0 R 76 0 obj /S /LI 367 0 obj >> 78 0 obj /P 8 0 R /Lang (EN-US) Have you worked at Theranos? endobj /K 2 /S /LI endobj /K 1 endobj /Rotate 0 /Lang (DE-DE) /CropBox [0 0 612 792] 276 0 obj /P 352 0 R /P 50 0 R /Rotate 0 Around the time that Theranos was losing nearly $2 million per week, investors in the blood-testing startup were being told that the company would soon be bringing in almost $1 billion per year. /Pg 258 0 R null null 136 0 R null null null 137 0 R null null] /K [24 387 0 R] /K 6 << Since this form of unethical behavior may lack the pangs of guilt and/or shame that generally provide people with a certain amount of self-restraint and hesitation, it can be difficult for others to suspect any bad conduct. /S /LI /K [15 0 R 16 0 R 17 0 R 18 0 R 19 0 R 20 0 R 21 0 R 22 0 R 23 0 R 24 0 R << /Rotate 0 /Lang (EN-US) /S /LI /P 347 0 R >> << endobj endobj /S /LI /S /LBody endobj The . /S /LBody 351 0 obj << /P 48 0 R 148 0 obj 279 0 obj /Underline /Span /Lang (EN-US) 239 0 obj >> /Bibliography /BibEntry << /Lang (EN-US) 300 0 obj Theranos Mission Statement. endobj /P 261 0 R /P 324 0 R /S /LI 17 [null null 204 0 R null null null 205 0 R null null null 65 0 obj 14 [null null 186 0 R null null null 187 0 R null null null >> /Contents [441 0 R 442 0 R 443 0 R] << /Annots [] 42 0 obj /Lang (EN-US) /Resources 460 0 R /S /LBody Both defendants appeared today before U.S. Magistrate Judge Susan van Keulen for their initial appearances. /S /LBody /P 358 0 R /Lang (EN-US) endobj << 3 0 obj /K 206 0 R 85 0 R 86 0 R 87 0 R 88 0 R 89 0 R 90 0 R 91 0 R 92 0 R 93 0 R] >> /Lang (EN-US) endobj /S /LI >> endobj /S /LBody /K 14 endobj endobj endobj endobj /S /LI /P 322 0 R endobj >> /P 8 0 R Further, the indictment alleges that based on the defendants misrepresentations and omissions, many hundreds of patients paid, or caused their medical insurance companies to pay, Theranos, or Walgreens acting on behalf of Theranos, for blood tests and test results, sometimes following referrals from their defrauded doctors. << << 372 0 obj "Sunny Balwani did not start Theranos," said the lawyer . endobj >> /P 48 0 R /K 134 0 R >> endobj /S /LBody /Filter /FlateDecode << >> 79 0 obj << << << 183 0 obj 138 0 obj 6 [null null 143 0 R null null null 144 0 R null null null >> /Lang (EN-US) << 305 0 obj >> /P 263 0 R << John Carreyrou writes the story of a gifted 19-year-old who founded a health . 217 0 obj /Pg 243 0 R /Rotate 0 endobj 75 0 R 76 0 R 77 0 R 78 0 R 79 0 R 80 0 R 81 0 R 82 0 R 83 0 R 84 0 R 99 0 obj endobj 353 0 obj During the trial Holmes accused her ex-boyfriend and business partner, Ramesh "Sunny" Balwani, of emotional and sexual abuse at the time of the alleged crimes, impairing her mental state. /Rotate 0 /P 379 0 R /K 14 << /P 50 0 R endobj endobj 65 0 R 66 0 R 67 0 R 68 0 R 69 0 R 70 0 R 71 0 R 72 0 R 73 0 R 74 0 R /K 179 0 R >> /Chart /Figure /K 184 0 R << endobj /Rotate 0 Elizabeth Holmes blue eyes and baritone voice, her, albeit incomplete, Stanford credentials and well-crafted life narrative were the perfect exterior to a dream-come-true vision of a better future for millions of people. /Pg 258 0 R 341 0 obj /P 50 0 R /Lang (EN-US) /P 356 0 R Read company statement regarding investor . /P 338 0 R << /Pg 235 0 R /P 8 0 R /S /P /P 298 0 R >> >> /Pg 239 0 R /P 48 0 R << >> /K 2 >> /P 39 0 R /Lang (EN-US) /Pg 235 0 R << Theranos representeda potential disruptor to costly and quasi-monopolistic healthcare players that would help people get the right cure at the right time. /Resources 420 0 R >> /P 51 0 R /P 334 0 R null null 121 0 R null null null 122 0 R null null null /S /LBody /S /P In November 2022, Holmes was sentenced to 135 months in prison for defrauding investors in the failed Silicon . >> >> 40 0 obj >> /Pg 245 0 R /S /P 301 0 obj endobj >> endobj 54 0 obj /Lang (EN-US) << 180 0 obj /S /LI . /Lang (EN-US) U.S. Attorneys Office /S /LBody endobj endobj /Rotate 0 >> /Lang (EN-US) n. o s /) was an American privately held corporation that was touted as a breakthrough health technology company. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. It involves a dream, a mission, a plan, a vision and quite possibly monumental corruption. In part, according to the report, Theranos had neglected to use the device it marketed as the "lynchpin of its strategy," called the Edison, for the majority of the tests conducted. 189 0 obj >> /S /P << /Lang (EN-US) << /Pg 235 0 R /Pg 252 0 R 307 0 obj But constantly focusing on a desired future state may have the effect of giving extra highlight to the positives of a distant vision at the expense of the operational challenges that are taking place in the here and now. 87 0 obj >> endobj 84 0 obj /Parent 13 0 R >> >> /Tabs /S >> << >> Before sharing sensitive information, make sure you're on a federal government site. /Lang (EN-US) /Pg 254 0 R /K 14 /K [273 0 R 274 0 R] /S /P >> /Lang (EN-US) /P 320 0 R >> /S /LBody /Type /MCR endobj << /P 335 0 R >> >> null] Just 12 tests were performed on Edison devices, and the Edison analyzer could only run one type of test for one patient at a given time, she said. 75 0 obj /K 22 endobj /K 32 >> 196 0 obj >> 188 0 obj 149 0 obj /K [26 383 0 R] /Lang (EN-US) /K 6 /S /LI /K 199 0 R /Annots [] endobj endobj /Contents [465 0 R 466 0 R 467 0 R] /MCID 2 /P 44 0 R 136 0 obj << /P 8 0 R << /P 8 0 R 23 0 obj endobj /S /LI /Length 10 0 R /P 51 0 R /StructParents 7 /P 59 0 R Elizabeth Holmes dropped out of Stanford in 2003 as a 19-year-old to start Theranos. Here's Robert Leach, assistant U.S. attorney, who is prosecuting the case against Holmes: "This is a case about fraud, about lying and cheating to get money," Leach says. /Pg 250 0 R /S /TD /S /P /P 303 0 R /Lang (EN-US) /MCID 2 << /Lang (EN-US) /S /LI /S /LI /K 10 endobj /S /P /Type /Page /P 59 0 R 373 0 obj endobj >> /P 378 0 R >> << 350 0 obj << /Pg 257 0 R /Lang (EN-US) /Type /Page Former Theranos board member and former Secretary of Defense James "Mad Dog" Mattis testified last week in the criminal trial of former Theranos CEO Elizabeth Holmes. /S /P /Lang (EN-US) 218 0 obj 329 0 obj /K [30 396 0 R] endobj /S /LI /K [28 391 0 R] However, any sentence following conviction would be imposed by the court after consideration of the U.S. /MediaBox [0 0 612 792] 18 0 obj /S /LBody /P 50 0 R /StructParents 2 endobj 36 0 obj /Tabs /S /P 8 0 R endobj << >> /Tabs /S /Pg 253 0 R << /S /P /S /LI << endobj << endobj 57 0 obj /K 208 0 R << /Lang (EN-US) /S /LI Starbucks: Inspire and nurture the human spirit - one person, one cup and one neighborhood at a time. /CropBox [0 0 612 792] /Type /Page There are at least four biases that can let a belief about a desired future state shape reality despite its disconnectedness from reality. /Pg 235 0 R >> /Lang (EN-US) /P 302 0 R /Pg 242 0 R /Pg 235 0 R /Lang (EN-US) >> /S /Span /K 8 0 R /P 380 0 R /Parent 12 0 R /K [368 0 R 369 0 R 370 0 R 371 0 R 372 0 R 373 0 R] 204 0 obj /K [374 0 R 375 0 R 376 0 R 377 0 R 378 0 R 379 0 R] endobj /K 275 0 R << endobj /S /LBody >> >> 140 0 obj 323 0 obj /K 41 /Resources 464 0 R /P 282 0 R /K 17 /P 50 0 R This is why accounts about Theranos willingness to circumvent FDA rules and requirements, among other things, or legitimate due diligence requests made by potential clients is disconcerting yet unsurprising. /Pg 244 0 R /P 50 0 R >> << 328 0 obj /Pg 244 0 R endobj /K [268 0 R 269 0 R 270 0 R 271 0 R 272 0 R] /K 221 0 R << null null 162 0 R null null null 163 0 R null null] >> /K 226 0 R << /Type /MCR << What we know for certain is that behind this particular corporate failure lies a cautionary tale of boundless visioning that all investors, entrepreneurs and organizations seeking breakthrough innovations should be interested in further understanding. /CropBox [0 0 612 792] /Contents [413 0 R 414 0 R 415 0 R] /K 20 >> 80 0 R 81 0 R 82 0 R] /Lang (EN-US) /P 8 0 R Theranos CEO Elizabeth Holmes on her company and the landscape of U.S. diagnostic-lab industry. Most of the tests that Theranos was performing for clients were done on devices made by other companies, Cheung testified. /Tabs /S 289 0 obj /S /LI The largest donation made to a political party by a Theranos employee was >> endobj endobj /S /LI /Parent 13 0 R /K 128 0 R /CropBox [0 0 612 792] 296 0 R 297 0 R 298 0 R 299 0 R 300 0 R 301 0 R 302 0 R 303 0 R] >> 134 0 obj << >> 241 0 obj 179 0 obj null 49 0 R null null 157 0 R null null] /S /LBody null null 197 0 R null null null 198 0 R null null null /Pg 235 0 R /S /LBody endobj flagrantly vague and often outright untruthful statements. endobj << /P 296 0 R 349 0 obj /CropBox [0 0 612 792] /Type /MCR /P 317 0 R /Lang (EN-US) /K 5 >> /K 18 >> >> 246 0 obj /P 23 0 R /S /LBody /MCID 2 endobj 45 0 R 46 0 R 47 0 R 48 0 R 49 0 R 50 0 R 51 0 R 52 0 R 53 0 R 54 0 R /Lang (EN-US) /MCID 2 /K 204 0 R >> /K 224 0 R /Metadata 4 0 R 12 0 obj /K 0 /S /LBody /Pg 245 0 R /S /LBody This office, along with our other law enforcement partners in the Bay Area, will vigorously investigate and prosecute those who do not play by the rules that make Silicon Valley work. endobj /P 336 0 R /Pg 254 0 R /S /LI >> /K 173 0 R endobj /Count 5 /Pg 237 0 R /Pg 235 0 R /P 365 0 R << >> /K 9 Employees in the top 10 percent can make over $68,000 per year, while employees at the bottom 10 percent earn less than $28,000 per year. /Lang (EN-US) /Type /Page /Pg 243 0 R << /K 2 Theranos dissolved in September 2018 and founder Elizabeth Holmes now faces up to 20 years in prison for fraud and conspiracy. /P 310 0 R /S /LBody << << /Lang (EN-US) endobj /Lang (EN-US) << endobj The motion for release said that Holmes is not a flight risk and "is highly motivated to continue complying with her conditions of release sothat she can work with her lawyers while she pursues her appeal.". << 109 0 obj << /RoleMap 7 0 R endobj /Annots [] Bundled together, these biases not only warped Holmes sense of truth, but they likely slanted the perspective of key stakeholders who were attracted to the many promises made by Theranos. /Parent 11 0 R Early on, experts inside and outside of the company questioned the technology. /K 7 >> << Morever, Holmes needs to grow a . /S /LI /P 42 0 R The mission and vision statements of Kraft Heinz are indicative of a company that desires to lead the rest in everything it does. It was not only motivated blindness that may have triggered the slippery slope of unethical conduct at Theranos. >> /CropBox [0 0 612 792] 379 0 obj /Type /Page /DropCap /Figure 355 0 obj /K 20 /P 8 0 R 125 0 obj /Contents [421 0 R 422 0 R 423 0 R] Mission statements, where crafted and utilized effectively, have been proven to drive billions of dollars in corporate value. << /Pg 239 0 R 47 0 obj endobj Theranos is in the biotechnology industry. Use of and/or registration on any portion of this site constitutes acceptance of our User Agreement (updated 1/1/20) and Privacy Policy and Cookie Statement (updated 1/1/20) and Ars Technica Addendum (effective 8/21/2018). /S /P endobj 113 0 obj /K 22 /S /LI Theranos founder Elizabeth Holmes "lied and cheated" for money and fame, prosecutors alleged on the first day of the former Silicon Valley star's trial. /S /LBody /Tabs /S endobj endobj Follow Mike Snider on Twitter:@mikesnider. /S /LBody >> /S /LI The parable of Elizabeth Holmes and her company, Theranos, is not an unfamiliar one. stream 110 0 obj /Resources 436 0 R >> endobj /P 50 0 R << /Annots [] 3 min read. /Lang (EN-US) endobj << /K 6 /K 30 /Type /Page To conduct any kind of research for any company in any industry. /K 16 endobj /P 372 0 R 175 0 obj /Pg 238 0 R << /Lang (EN-US) >> /P 59 0 R Theranos founder Elizabeth Holmes arrives at San Jose court, Theranos CEO on companys blood testing system. /Lang (EN-US) /P 300 0 R In addition, the defendants delivered to doctors and patients blood results that were inaccurate, unreliable, and improperly validated. << . /K 22 Prosecutors allege that Holmes and Balwani deliberately misled investors, policymakers and the public about the accuracy of Theranos blood-testing technologies since 2013, at least, EX-BILLIONAIRE ELIZABETH HOLMES CAN'T PAY LAWYERS DEFENDING HER IN THERANOS FRAUD CLAIM. /Tabs /S endobj endobj 245 0 obj >> >> The defendants also represented to investors that Theranos would generate over $100 million in revenues and break even in 2014 and that Theranos expected to generate approximately $1 billion in revenues in 2015 when, in truth, the defendants knew Theranos would generate only negligible or modest revenues in 2014 and 2015. Palantir has . /CropBox [0 0 612 792] Holmes faces up to 20 years in prison. >> /P 8 0 R /K [10 392 0 R] /S /LI << /P 353 0 R /K 6 Holmes, 34, of Los Altos Hills, Calif., founded Theranos in 2003. >> /Contents [485 0 R 486 0 R 487 0 R] 53 0 obj >> /S /LBody /P 8 0 R >> The employee data is based on information from people who have self-reported their past or current employments at Theranos. << /S /LBody /CropBox [0 0 612 792] /K 18 /Tabs /S 185 0 obj endobj << /Pg 247 0 R 186 0 obj /K 139 0 R 2 0 obj << /S /LI 331 0 obj 68 0 obj /Contents [493 0 R 494 0 R 495 0 R] >> /S /LBody /K 125 0 R << Research on the dark sides of creativity suggests that not only are people more likely to act dishonestly when they are in a creative state, but that cheating, in itself, can actually make people more creative. /P 33 0 R /S /P 150 0 obj 3480 /P 40 0 R /S /LI << >> /P 8 0 R 386 0 obj endobj 12 [null null null 172 0 R null null null null 173 0 R null /K 31 >> /K 162 0 R >> 3553. /Pg 256 0 R << /Lang (EN-US) /Lang (EN-US) /K 5 >> /Tabs /S endobj >> << endobj << /Tabs /S Help us make this company more transparent. /Type /Page /Pg 247 0 R /K 18 /S /LI << /P 363 0 R /P 51 0 R /S /LBody << /Pg 237 0 R >> /Lang (EN-US) endobj /K 24 endobj /P 8 0 R /S /LI /SourceModified (D:20180314151216) 2023 Cond Nast. /K 130 0 R >> null null null 231 0 R null null null 232 0 R null null Theranos's mission statement is "To facilitate the early detection and prevention of disease and empower people everywhere to live their best possible lives.". /K 223 0 R 35 0 obj 361 0 obj /P 380 0 R /S /P 321 0 obj endobj /StructParents 1 337 0 obj 258 0 obj Avoid simply listing what your company does and shift your focus to the bigger picture: what guides your company strategy and inspires your workforce. This material may not be published, broadcast, rewritten, or redistributed. 135 0 obj << /P 42 0 R /P 8 0 R 324 0 R 325 0 R 326 0 R 327 0 R 328 0 R 329 0 R 330 0 R] Next to a perfectly dosed narrative of black turtlenecks, sprawling office facilities, glossy paper spreads and alluring marketing campaigns, the supposed Apple look-alike of the health technology industry tantalized investors and consumers with its mission, to facilitate the early detection and prevention of disease and empower people everywhere to live their best possible lives. Its no surprise that many bought into it. endobj /K 183 0 R null 110 0 R null null null 111 0 R null 112 0 R null 113 0 R endobj >> endobj /K 18 /P 279 0 R /StructParents 4 endobj /P 40 0 R >> /K 6 /S /LI /P 48 0 R /P 265 0 R 74 0 obj /Pg 250 0 R << >> /Lang (EN-US) endobj We calculated the performance score of companies by measuring multiple factors, including revenue, longevity, and stock market performance. 9 0 obj << /S /LI This district, led by Silicon Valley, is at the center of modern technological innovation and entrepreneurial spirit; capital investment makes that possible. /S /LBody /K [18 385 0 R] >> endobj endobj /P 50 0 R /Pg 255 0 R null] /Lang (EN-US) /P 8 0 R /S /LBody 104 0 obj /K 147 0 R Theranos stood as the next big breakthrough innovator in the healthcare industry offering an affirming achievement of the value of human ingenuity. << /Pg 238 0 R /K 25 /Resources 480 0 R /P 299 0 R << endobj They cite a one-way plane ticket to Mexico she booked for Jan. 26, 2022, three weeksafter her conviction onfour counts of fraud and conspiracy. /K 33 Those emails eventually made their way to Holmes, who asked, How fast can we resolve this issue? Another employee replied that, after omitting some data, the problem appeared solved. 208 0 obj 201 0 R null null null 202 0 R null null null 203 0 R null Theranos competitors include TED, Bloomberg, HuffPost, National Journal, Washington Plaza Hot, Morgan Stanley, Newsweek. It became evident that audited financial statements hadn't been prepared since 2009. << endobj >> endobj 117 0 obj << 389 0 obj /S /LI << >> /Pg 251 0 R /S /LI Claiming and updating your company profile on Zippia is free and easy. << << /Lang (EN-US) /K [304 0 R 305 0 R 306 0 R 307 0 R 308 0 R 309 0 R 310 0 R 311 0 R 312 0 R 313 0 R 25 0 obj /Pg 243 0 R /StructParents 13 << >> 10 [null null 163 0 R null null null 164 0 R null null null >> Its not uncommon for startups to lose money in their early years, and its not entirely unusual for the fastest burn rate to happen right before things turn around. 316 0 obj >> 178 0 obj HUMo@W~{-E$U i~ q&1KNwf{f(=7E GGY,kf~ _i^04V0[398o%dg2vWvuD`aiqeso"! /Pg 255 0 R Claim This Company. 94 0 obj /Type /Pages << /Pg 235 0 R 336 0 obj /S /LI /Lang (EN-US) By Elizabeth Lopatto / @ mslopatto. 306 0 obj 1. /Lang (EN-US) endobj /P 42 0 R /K 18 << << /Pg 238 0 R endobj endobj 230 0 obj >> /S /LI endobj /S /LI The Theranos scandal has dominated headlines, and both fascinated and appalled readers worldwide, since John Carreyrou's shattering report first broke in 2015. /K 0 << /Pg 244 0 R /S /P >> /Strikeout /Span 199 0 obj /MediaBox [0 0 612 792] /Annots [] 133 0 R null null null 134 0 R null null null 135 0 R null /S /LI endobj << endobj << /K 229 0 R 30 0 obj /K 2 /Parent 14 0 R /Pg 235 0 R Theranos was a privately held healthcare technology company founded by then 19-year-old Elizabeth Holmes in 2003. << /P 48 0 R 364 0 obj /S /LBody /S /P /Lang (EN-US) In a reply, Holmes said she was projecting $100 million for 2015, nearly ten times less than what she told investors at one point. /K 180 0 R A sign outside of the headquarters of Theranos in Palo Alto, California on January 24, 2016. << << null 114 0 R null] /K 31 >> 333 0 obj /Nums [0 [15 0 R 16 0 R 17 0 R 18 0 R 19 0 R 20 0 R 21 0 R 22 0 R 23 0 R 94 0 R /Lang (EN-US) /K 1 /K 132 0 R /S /P << /Pg 256 0 R 91 0 obj >> For example, the defendants represented to investors that Theranos conducted its patients tests using Theranos-manufactured analyzers; when, in truth, Holmes and Balwani knew that Theranos purchased and used for patient testing third party, commercially-available analyzers. << /S /LI >> /Pg 237 0 R After Cheung went to the federal government, Theranos hired a private detective to spy on her, according to court documents released last week.