<< endobj << /P 277 0 R endobj << /S /LBody endobj /P 8 0 R Holmes will head to trial starting Aug. 4, and Balwani will be tried afterthe conclusion of Holmes case, Bloomberg reported. /K 226 0 R /Type /Page stream endobj 173 0 obj >> /K 133 0 R endobj >> /K 210 0 R /Contents [449 0 R 450 0 R 451 0 R] << endobj /MediaBox [0 0 612 792] endobj endobj /Type /MCR /K 195 0 R /K 231 0 R >> /K 215 0 R >> Answer 1. /Pg 256 0 R >> /P 59 0 R << /MediaBox [0 0 612 792] /Lang (EN-US) According to the indictment, the defendants also allegedly made numerous misrepresentations to potential investors about Theranoss financial condition and its future prospects. 121 0 obj endobj Similarly, defendants purchased and used commercially-available analyzers to test patient blood, while representing to investors that Theranos conducted its patients tests using Theranos-manufactured analyzers. Mutual Fund and . << endobj /Pg 239 0 R 39 0 obj 8 0 obj /Pg 255 0 R /Pg 257 0 R << /S /P /K 16 /P 372 0 R >> /K 22 << /Lang (EN-US) << endobj << 238 0 obj /P 335 0 R The Theranos story has been turned into an HBO . 330 0 obj /Lang (EN-US) /Type /Page >> $1 million bail: Student accused of attacking teacher's aide over Nintendo Switch, Consumer confidence: Optimism of US consumers declined in February, reflecting fears of a recession. /Rotate 0 268 0 obj /K 10 /Lang (EN-US) Theranos is ranked #71 on the Best Start-up Companies to Work For in America list. 28 0 obj /P 8 0 R /Count 5 Elizabeth Holmes finished testifying in wire fraud trial. /K [354 0 R 355 0 R 356 0 R 357 0 R 358 0 R 359 0 R 360 0 R 361 0 R 362 0 R 363 0 R >> /Lang (EN-US) 87 0 obj There were . endobj /K 9 >> We all knew it was coming. Theranos wanted to make detailed blood sample analysts accessible to all doctors in a timely manner. << /P 48 0 R 49 0 obj 55 0 obj << >> /Lang (EN-US) /S /LI 371 0 obj 170 0 obj 102 0 obj /S /LBody 145 0 R null null null 146 0 R null null null 147 0 R null 36 0 obj If convicted, the defendants face a maximum sentence of twenty (20) years in prison, and a fine of $250,000, plus restitution, for each count of wire fraud and for each conspiracy count. 265 0 obj 227 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. >> /S /LBody /S /LBody Theranos is a private health care and life sciences company with the stated mission to revolutionize medical laboratory testing through allegedly innovative methods for drawing blood, testing blood, and interpreting the resulting patient data. >> /P 309 0 R /Pg 248 0 R /Rotate 0 /S /LBody /P 8 0 R /S /LI >> /P 50 0 R /P 336 0 R 291 0 obj << >> /K 30 /Lang (EN-US) << /Lang (EN-US) /P 285 0 R endobj << /S /LI >> /Rotate 0 endobj /Pg 239 0 R Holmes unflappability may have made it difficult for Theranos board members and prospective clients to raise or press on with the right questions at the right time. endobj << /MarkInfo 2 0 R endobj /S /LI /BBox [79.9440002441 274.9559936523 453.9599914551 398.8439941406] /K 10 << /Pg 257 0 R >> << It's unclear whether Theranos' rise and fall will turn out to be a dazzling mirage of "would-be" business . /Parent 5 0 R >> endobj /Lang (EN-US) /Pg 248 0 R 356 0 obj /Lang (EN-US) 347 0 obj >> /S /LI /Lang (EN-US) << /ITXT (2.1.7) /K 171 0 R /Lang (EN-US) /P 59 0 R /P 369 0 R /S /P /K 2 279 0 obj << >> /Lang (EN-US) << /K 14 /Lang (EN-US) /K 6 Easy acce View the full answer /S /LBody >> /K 32 /Lang (EN-US) Theranos was a privately held healthcare technology company founded by then 19-year-old Elizabeth Holmes in 2003. << /S /LI >> /K 24 /MediaBox [0 0 612 792] /S /LI endobj /Lang (EN-US) /S /LI /Pg 258 0 R /K 1 97 0 obj >> endobj endobj 128 0 obj /Producer (Adobe PDF Library 15.0; modified using iText 2.1.7 by 1T3XT) -Theranos is now worth $9 billion dollars; Holmes currently owns about half the company-Forbes named her one of the youngest female self-made billionaire before the age of 30. . /Pg 240 0 R /Tabs /S Theranos gambit may have extended over time precisely because all four biases played a role in the making of a dream that was never fully tested against the constraints of reality. 391 0 obj >> endobj Indication(s) for use: Same as the intended use 3. endobj /Pg 252 0 R << /K 22 A sign outside of the headquarters of Theranos in Palo Alto, California on January 24, 2016. /MediaBox [0 0 612 792] 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 /Lang (EN-US) << A March 17 hearing is scheduled on her request to stay out of prison during her appeal. /S /LBody /P 40 0 R /P 48 0 R >> endobj >> endobj /Pg 249 0 R /S /P /Resources 464 0 R /P 379 0 R endobj >> /K 187 0 R endobj /Lang (EN-US) << << /S /LBody /Annots [] 4 [null null 131 0 R null null null 132 0 R null null null /K 186 0 R endobj 282 0 obj /P 314 0 R /Lang (EN-US) >> endobj /Lang (EN-US) /Pg 258 0 R /S /LBody << endobj /P 291 0 R /K [24 387 0 R] Theranos has established itself as a great place to work in California, and it is number 17 on Zippia's list of, The average employee at Theranos makes $44,094 per year. /K 11 /S /P /Pg 251 0 R endobj /P 8 0 R /S /P 56 0 obj /S /LBody endobj >> << /Pg 248 0 R /K 125 0 R /P 274 0 R >> /P 8 0 R << After asking questions about Theranos continued losses and lack of revenue, prosecutors showed Yam a document they said was shared with investors; it projected $140 million in revenue in 2014 and $990 million in 2015. << >> /K 190 0 R 40 0 obj /Tabs /S 388 0 obj /K 16 << /S /LBody >> /P 50 0 R 187 0 obj It was not only motivated blindness that may have triggered the slippery slope of unethical conduct at Theranos. >> >> /S /LBody >> /S /LBody /S /L /Annots [] A vision and its attached goals may inspire and motivate, but they can also severely contrive our ability to consider a broader set of possibilities or address contradictory information. THERANOS FOUNDER ELIZABETH HOLMES TO FACE TRIAL SEPARATE FROM EX-LOVER. Help us make this company more transparent. Paradoxically, instead of warranting greater scrutiny, the very gap between Theranos projected solution and the requirements of the available blood-testing technology may have prevented a number of decision-makers from focusing on practical questions during evaluation of the companys potential and its various promises. /Count 5 183 0 obj 147 0 obj /Pg 235 0 R /K 6 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. /P 48 0 R /Lang (EN-US) /P 319 0 R Theranos is in the biotechnology industry. /Lang (EN-US) endobj << Read company statement regarding investor . /K 158 0 R 362 0 obj >> 314 0 R 315 0 R 316 0 R 317 0 R 318 0 R 319 0 R 320 0 R 321 0 R 322 0 R 323 0 R endobj /Type /MCR /P 375 0 R /K [26 388 0 R] endobj /K 9 /Parent 14 0 R /S /LBody /P 48 0 R /Pg 243 0 R 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. >> endobj endobj Founded in 2003 by then 19-year-old Elizabeth Holmes, Theranos raised more than US$700 million from venture capitalists and private investors, resulting in a $10 billion valuation at its peak in 2013 and 2014. /MCID 2 132 0 obj 260 0 obj /K 202 0 R /StructParents 12 (Photo by Brad Barket/Invision/AP). /K 121 0 R /Lang (EN-US) >> >> 149 0 R null null null 150 0 R null null null 151 0 R null 54 0 obj 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 /P 55 0 R << >> << 21 [60 0 R 61 0 R 62 0 R null null 229 0 R null null null 230 0 R << /Pg 240 0 R /Lang (EN-US) << >> Prosecutors Call Theranos Ex-CEO Elizabeth Holmes A Liar And A Cheat As Trial Opens Defense lawyers say Holmes believed the company could screen for hundreds of diseases with just a finger prick . << >> >> 301 0 obj 199 0 R null null] /Pg 239 0 R /Lang (EN-US) /P 8 0 R /MCID 2 << 200 0 obj October 2015, the first in a series of Wall Street Journal articles challenged Theranos technology and expertise; by mid-2016, the advisory board disappeared and a fiduciary board was created. The request for Holmes toremain free pending an appeal, filed Feb. 23 with the U.S. District Court for the Northern District of California, did not say when Holmes had her second baby. 256 0 obj /Type /Page endobj /StructParents 2 270 0 obj >> >> /S /P << << >> /P 50 0 R /S /L 278 0 obj Zippia's Best Places to Work lists provide unbiased, data-based evaluations of companies. /P 353 0 R /P 8 0 R >> >> << 23 0 obj >> /K 197 0 R /Parent 11 0 R /S /LI /K 150 0 R endobj endobj endobj 397 0 obj endobj /P 59 0 R /Pg 256 0 R The FDA would like to extend our thanks to our federal law enforcement partners for sending a strong message to Theranos executives and others that these types of actions will not be tolerated, said Catherine A. Hermsen, Acting Director, FDA Office of Criminal Investigations. /P 48 0 R 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. /Parent 13 0 R /S /LBody Attorneys Jeff Schenk, Robert S. Leach, and John C. Bostic are prosecuting the case with the assistance of Laurie Worthen and Bridget Kilkenny. /MediaBox [0 0 612 792] endobj /Pg 237 0 R /S /P >> >> $12,600 to the Democratic Party. /CropBox [0 0 612 792] 242 0 obj /Parent 12 0 R The defendants knew Theranos was not capable of consistently producing accurate and reliable results for certain blood tests, including the tests for calcium, chloride, potassium, bicarbonate, HIV, Hba1C, hCG, and sodium. /S /P endobj /P 8 0 R /Pg 243 0 R /P 338 0 R >> /Subtype /XML endobj /K [95 0 R 96 0 R 97 0 R 98 0 R 99 0 R 100 0 R 101 0 R 102 0 R 103 0 R 104 0 R] The data presented on this page does not represent the view of Theranos and its employees or that of Zippia. /P 8 0 R /MediaBox [0 0 612 792] /Lang (EN-US) 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. /K [26 383 0 R] /S /LBody endobj << endobj 44 0 obj /K 2 Those biases can be understood as the blindness brought about by what seems preeminently important, the righteousness generated by what sounds inherently right, the operational myopia triggered by what is situated far away from us and the sense of potency derived from endeavoring to create something new. 323 0 obj /S /P /Pg 235 0 R There is no try', stolen from . /K 19 << 144 0 obj Powered and implemented byFactSet Digital Solutions. >> endobj /K 7 /P 311 0 R << endobj In reality, Theranos couldn't perform more than 12 tests on its Edison devices, former lab . /Pg 235 0 R << >> >> >> Moreover, Theranos and Holmes made "false and misleading statements" in press accounts to bolster the startup's profile. << He . >> /Lang (EN-US) /K 51 72 0 obj 98 0 obj 352 0 obj /Lang (EN-US) 164 0 obj /K 18 >> >> /S /LBody /S /LI endobj 1343. /S /LI 259 0 obj /S /LI % >> /S /LBody << Balwani, 53, of Atherton, Calif., was employed at Theranos from September of 2009 through 2016. << 138 0 obj 27 0 obj << << Elizabeth Holmes and her ill-fated blood-testing start up, Theranos, are the subjects of the latest exceptional read. endobj endobj /K [28 394 0 R] /Annots [] /P 347 0 R /S /LI 146 0 obj >> /K 25 /StructParents 0 /Lang (EN-US) 1. /Rotate 0 335 0 obj /Lang (EN-US) /Resources 492 0 R /P 8 0 R /P 50 0 R /P 278 0 R /P 50 0 R /Pg 235 0 R >> 248 0 obj /Pg 245 0 R /K 162 0 R >> endobj /K 24 /Contents [425 0 R 426 0 R 427 0 R] >> endobj /StructParents 19 endobj << According to a statement from the SEC, "Theranos, Holmes, and Balwani made numerous false and misleading statements in investor presentations, product demonstrations, and media articles by which they deceived investors into believing that its key productcould conduct comprehensive blood tests from finger drops of blood, revolutionizing the . >> /RoleMap 7 0 R /P 343 0 R endobj : Sign up for our trending newsletter to get the latest news, This article originally appeared on USA TODAY: Ex-Theranos CEO Elizabeth Holmes has second child, seeks prison delay, American businessperson; a subject of an SEC investigation, the failed Silicon Valley startup that sought to revolutionize blood testing, Student accused of attacking teacher's aide over Nintendo Switch, Optimism of US consumers declined in February, reflecting fears of a recession, her conviction onfour counts of fraud and conspiracy, Sign up for our trending newsletter to get the latest news, Ex-Theranos CEO Elizabeth Holmes has second child, seeks prison delay, Kellyanne Conway, George Conway To Divorce After Decadeslong Marriage: Report, Reports: 3 children dead, 2 wounded in attack at Texas home, 'Extremely dangerous': Spike in illegal crossings at Canada-Vermont border has feds sounding alarm, School punished teen girl for working out in sports bra in 100-degree Texas heat, ACLU says, Republicans Use Arcane Political Tactic to Thwart Democrats, I Wore Katie Holmes Go-To Bag Trend for a Week, and I Finally Get the Appeal, Alex Murdaugh sentenced to life in prison for murders of wife and son, NBA Player Richaun Holmes Sues Sacramento Bee Parent for Defamation, Murdaugh defense vows appeal, even to Supreme Court, Alex Murdaugh sentenced to life in prison. /P 51 0 R << 23 [83 0 R 84 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 /MediaBox [0 0 612 792] endobj >> /P 324 0 R endobj 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. 35 0 R 36 0 R 37 0 R 38 0 R 39 0 R 40 0 R 41 0 R 42 0 R 43 0 R 44 0 R endobj 286 0 R 287 0 R 288 0 R 289 0 R 290 0 R 291 0 R 292 0 R 293 0 R 294 0 R 295 0 R << /S /LBody 106 0 obj /K 12 Theranos's mission statement is "To facilitate the early detection and prevention of disease and empower people everywhere to live their best possible lives." /P 166 0 R endobj /Lang (EN-US) << /P 8 0 R /P 59 0 R /S /P << 37 0 obj << /S /LI >> /Lang (EN-US) 271 0 obj << endobj The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely. /Pg 256 0 R 379 0 obj >> /Lang (EN-US) /S /LI /S /LBody /StructParents 15 Holmes said she was inspired to start the company in response to her fear of needles. endobj /K 14 /P 378 0 R << 185 0 obj >> /Pg 254 0 R It involves a dream, a mission, a plan, a vision and quite possibly monumental corruption. 303 0 obj >> /S /TD << /StructParents 14 >> endobj endobj /Lang (EN-US) /Lang (EN-US) +1 (202) 442-3507. /CropBox [0 0 612 792] Rankings are based on government and proprietary data on salaries, company financial health, and employee diversity. 217 0 R null null null 218 0 R null null null 219 0 R null /S /LBody /P 344 0 R endobj endobj /Resources 436 0 R /Pg 245 0 R All rights reserved. /S /LBody There are at least four biases that can let a belief about a desired future state shape reality despite its disconnectedness from reality. /P 8 0 R >> /Lang (EN-US) /S /LI /Lang (EN-US) << /Pg 256 0 R /S /LBody An indictment merely alleges that crimes have been committed, and the defendants are presumed innocent until proven guilty beyond a reasonable doubt. endobj /S /P CNN . /Diagram /Figure >> >> /Annots [] << /MCID 2 9 0 obj While some are vague affirmations, others can sharpen employees' minds and give them a sense of identity and belonging. >> /Lang (EN-US) /Lang (EN-US) /S /LI <<