/MediaBox [0 0 612 792] /Lang (EN-US) /Parent 12 0 R 215 0 obj << << The company spent over $150,000 surveilling her and another whistleblower. Yam said that Theranos lost $16.2 million in 2010, $27.2 million in 2011, $57 million in 2012, and $92 million in 2013. >> 2 [null null 119 0 R null null null 120 0 R null null 41 0 R /Pg 258 0 R /P 320 0 R /CropBox [0 0 612 792] /Parent 13 0 R /S /LI /K 5 >> $12,600 to the Democratic Party. Holmes fostered a culture of fear because it served her needs. >> << << Peter DaSilva/Reuters. << /S /LI /Pg 255 0 R << << /P 8 0 R /K 45 /S /LBody /P 291 0 R /P 336 0 R /K 13 /P 359 0 R /P 334 0 R /S /LI >> /P 48 0 R It's unclear whether Theranos' rise and fall will turn out to be a dazzling mirage of "would-be" business . endobj 57 0 obj << /Pg 257 0 R endobj << /Pg 243 0 R /S /LBody /Pg 235 0 R /P 277 0 R 29 0 obj /K 11 /S /LI << /K 203 0 R She had a charisma to her; she was very articulate,Cheung saidof Holmes. 325 0 obj /K 192 0 R >> /S /LI /Lang (EN-US) /P 313 0 R 249 0 obj >> endobj /Pg 241 0 R /S /P >> The defendants claimed the analyzer was able to perform a full range of clinical tests using small blood samples drawn from a finger stick. /S /LI /P 8 0 R /K 10 << >> /Rotate 0 298 0 obj << /S /P /P 379 0 R 342 0 obj /Pg 255 0 R >> John Carreyrou writes the story of a gifted 19-year-old who founded a health . 139 0 R null null null 140 0 R null null null 141 0 R null Starbucks: Inspire and nurture the human spirit - one person, one cup and one neighborhood at a time. Four years after the top two Theranos executives, Elizabeth Holmes and Ramesh "Sunny" Balwani, were first indicted together on a dozen federal fraud charges stemming from their time . /P 362 0 R /Pg 236 0 R Elizabeth Holmes (Reuters); Ramesh "Sunny" Balwani (Getty Images). /P 373 0 R 336 0 obj /K 171 0 R /Lang (EN-US) /P 311 0 R Ms Holmes faces 12 fraud charges over her . /P 289 0 R The prosecution is the result of an investigation by the FDA Office of Criminal Investigations, the FBI, and the US Postal Inspection Service. /Pg 255 0 R 153 0 obj 300 0 obj /S /LI While some are vague affirmations, others can sharpen employees' minds and give them a sense of identity and belonging. 304 0 obj 296 0 R 297 0 R 298 0 R 299 0 R 300 0 R 301 0 R 302 0 R 303 0 R] 7 0 obj /Parent 14 0 R For the small private firm, the publically traded company or the large enterprise vision, effort and determination needs to be firmly tied to the track - compliance. >> endobj /K 17 /P 315 0 R >> /Lang (EN-US) /K 146 0 R CNMN Collection /S /LI /S /LI >> 214 0 obj /Lang (EN-US) overstating the extent of Theranos' relationships with commercial partners and government entities, to whom they had also made misrepresentations . 217 0 obj >> /MediaBox [0 0 612 792] << /S /LBody /P 50 0 R 184 0 obj endobj << /S /LI /K [22 386 0 R] /K 7 endobj 15 [null null 192 0 R null null null 193 0 R null null null /S /LBody /S /LI 54 0 obj /K 22 /K 116 0 R That innovation combined with the use of technology to build a somewhat bulkier though still miniature and portable yet more reliable version of the micro-Lab would have provided plenty of opportunity to make strides towards the dream of empowering people with reliable, timely and inexpensive blood testing. endobj /StructParents 2 << /K 28 /Resources 496 0 R /P 8 0 R /Lang (EN-US) /StructParents 3 /Lang (DE-DE) >> 290 0 obj /Lang (EN-US) << Mutual Fund and . 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. >> /Pg 254 0 R /P 318 0 R /S /LBody endobj >> /S /LI << endobj /K 22 191 0 obj Answer 1. /K 182 0 R /Tabs /S Theranos Inc. (/ r. endobj 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 /K 142 0 R /Pg 251 0 R >> 2018-03-14T09:02:10-07:00 /Pg 250 0 R endobj endobj 181 0 obj >> endobj Elizabeth Holmes finished testifying in wire fraud trial. 99 0 obj endobj 118 0 obj /P 8 0 R /P 51 0 R endobj $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. Holmes, who founded Theranos in 2003 at age 19 with the lofty mission of revolutionizing blood testing, has pleaded not guilty. >> /Pg 256 0 R << endobj << << 231 0 obj /K 212 0 R /P 322 0 R >> /P 50 0 R /Parent 14 0 R << endobj /Resources 416 0 R 395 0 obj 220 0 obj /Type /Pages /K 14 /Pg 244 0 R /Pg 235 0 R endobj 398 0 obj >> Entrepreneurship lives in the realm of threading between the present and the future. 1343. /P 48 0 R /P 8 0 R endobj /P 8 0 R /S /LI >> /P 8 0 R Holmes was found guilty on four felony fraud counts associated with a loss to victims of at least $120 million. >> 173 0 obj endobj /P 59 0 R 346 0 obj /K 20 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. /Lang (EN-US) << endobj /Rotate 0 /DropCap /Figure /Lang (DE-DE) 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. >> /Lang (EN-US) /Pg 257 0 R << /K 139 0 R << << /K 126 0 R /Pg 235 0 R /Lang (EN-US) null 110 0 R null null null 111 0 R null 112 0 R null 113 0 R endobj /P 344 0 R << 115 0 obj /Pg 238 0 R /K 138 0 R >> /Lang (EN-US) << >> /S /LBody endobj /S /LI << 248 0 obj /Artifact /P /Pg 239 0 R 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. /Pg 248 0 R /Pg 255 0 R << /StructParents 6 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. /Footnote /Note >> /K 4 << 202 0 obj /Count 5 endobj << /K 6 >> /K 185 0 R /S /P /P 59 0 R /Pg 258 0 R << D:20180314151216 56 0 obj /MCID 2 /S /LBody /Lang (EN-US) /Lang (EN-US) Theranos' mission is to make actionable information accessible to everyone at the time it matters most. /K 10 >> >> /P 8 0 R >> The site is secure. << /P 51 0 R /K 30 /P 299 0 R For example, allegedly, Holmes and Balwani knew that the analyzer, in truth, had accuracy and reliability problems, performed a limited number of tests, was slower than some competing devices, and, in some respects, could not compete with existing, more conventional machines. endobj 87 0 obj /P 55 0 R 259 0 obj /P 63 0 R /CropBox [0 0 612 792] << 145 0 R null null null 146 0 R null null null 147 0 R null << Theranos founder and CEO Elizabeth Holmes speaks at the Fortune Global Forum in San Francisco, California, on Monday, Nov. 2, 2015. /Lang (EN-US) /K 233 0 R 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 340 0 R endobj /P 365 0 R >> /Lang (EN-US) >> Photographer: David Paul Morris/Bloomberg *** Local Caption *** Elizabeth Holmes. /Lang (EN-US) << /Rotate 0 /Count 9 Using a "nanotainer" (a small device designed to draw, retain, and analyze a . endobj A jury will decide whether Ms. Holmes, who founded Theranos and hawked a mission of revolutionizing health care, lied to investors about her company's technology. endobj Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. >> 341 0 R 342 0 R 343 0 R 344 0 R 345 0 R 346 0 R 347 0 R 348 0 R] /RoleMap 7 0 R /Parent 11 0 R << /S /LI 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 . /K 223 0 R 59 0 obj 1349, and nine counts of wire fraud, in violation of 18 U.S.C. /S /P /S /LI >> endobj endobj Help us make this company more transparent. 196 0 obj 152 0 obj /Lang (EN-US) /K 18 233 0 obj /StructParents 8 /K 9 /P 267 0 R 147 0 obj >> >> /Lang (EN-US) << /Rotate 0 /K 26 According to Temporal Construal Theory, a compelling, unfulfilled mission can trigger this type of operational myopia. >> /K 208 0 R /Type /MCR "Sunny Balwani did not start Theranos," said the lawyer . >> /StructParents 17 /K 122 0 R << /Type /Page endobj /Contents [409 0 R 410 0 R 411 0 R] /P 8 0 R >> 326 0 obj >> /S /LI /S /LBody /Pg 257 0 R endobj << /Pg 253 0 R >> /P 375 0 R /MediaBox [0 0 612 792] /S /LI endobj >> 217 0 R null null null 218 0 R null null null 219 0 R null << endobj >> /CropBox [0 0 612 792] endobj /S /P endobj endobj stream /P 282 0 R /S /L /K 14 >> endobj /Pg 250 0 R 343 0 obj >> endobj /K 26 << 2 0 obj /S /P 327 0 obj endobj /StructParents 7 /Lang (EN-US) endobj endobj /Pg 239 0 R /Rotate 0 >> >> /Type /Pages /P 380 0 R /MediaBox [0 0 612 792] 22 0 obj >> To conduct any kind of research for any company in any industry. /StructParents 20 255 0 obj /Type /Page /K [28 391 0 R] /S /LBody >> >> /P 8 0 R >> WIRED Media Group endobj << /S /P >> /K [18 385 0 R] >> endobj >> /P 8 0 R << 329 0 obj 199 0 R null null] Theranos is a consumer healthcare technology company. /S /L 1. endobj /Lang (EN-US) /S /P /Type /Page 97 0 obj >> endobj /Pg 258 0 R >> /Lang (EN-US) The fact that key stakeholders at Safeway remained upbeat despite the arrogant and secretive behaviors of Theranos executives and the lack of any real hard proof associated with many of the claims Theranos was making is extremely revealing. /K 22 /P 364 0 R /Pg 255 0 R >> /Lang (EN-US) endobj /K [10 392 0 R] Theranos's mission statement is "To facilitate the early detection and prevention of disease and empower people everywhere to live their best possible lives." /PageLayout /OneColumn 14 [null null 186 0 R null null null 187 0 R null null null /Pg 235 0 R /Resources 468 0 R /P 51 0 R 3553. 359 0 obj /Rotate 0 << /CropBox [0 0 612 792] << 165 0 obj Founded in 2003, Theranos is an established company that loves to hire graduates from Pima Medical Institute, with 15.9% of its employees having attended Pima Medical Institute. 112 0 obj /S /L /InlineShape /Figure /Lang (EN-US) /K 8 << 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. /Pg 235 0 R /P 310 0 R /Marked true /P 63 0 R endobj 15 0 obj >> /K 217 0 R << >> /S /P /Resources 428 0 R 11 [null null 169 0 R null null null 170 0 R null null null /Lang (EN-US) /K 232 0 R >> /Pg 235 0 R >> FAQ - New Privacy Policy. /Rotate 0 /S /P /Annots [] /S /LBody According to the indictment, the defendants also allegedly made numerous misrepresentations to potential investors about Theranoss financial condition and its future prospects. 385 0 obj 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. 246 0 obj endobj /Parent 14 0 R /S /LI 201 0 obj endobj According to The Associated Press, the Journals investigation marked the beginning of the end of Theranos. 345 0 obj /S /LI 1 0 obj /Type /Page /Rotate 0 >> /Pg 235 0 R endobj /Type /StructTreeRoot /MCID 2 302 0 obj 96 0 obj /Pg 242 0 R << /S /LI endobj /S /LBody << /Pg 235 0 R /S /L /Pg 258 0 R /S /Sect >> /K 10 280 0 obj /K [368 0 R 369 0 R 370 0 R 371 0 R 372 0 R 373 0 R] /Pg 242 0 R Moreover, Theranos and Holmes made "false and misleading statements" in press accounts to bolster the startup's profile. 348 0 obj /StructParents 13 endobj 125 0 obj << /Lang (EN-US) endobj << >> /Contents [429 0 R 430 0 R 431 0 R] >> << /P 55 0 R /K 6 /Rotate 0 /S /LBody The parable of Elizabeth Holmes and her company, Theranos, is not an unfamiliar one. endobj >> The collaborative investigative work on this case conducted by Postal Inspectors, our law enforcement partners, and the United States Attorneys Office illustrates our efforts to protect both consumers and investors., The Indictment Alleges That Doctors And Patients Were Defrauded. >> >> /Resources 432 0 R /K [380 0 R 381 0 R] << >> 179 0 obj /MediaBox [0 0 612 792] << /Lang (EN-US) << /S /P /S /P /S /LBody All rights reserved. >> 20 [null null 221 0 R null null null 222 0 R null null 56 0 R /S /LI /S /P << /K 13 /Pg 256 0 R << endobj /S /L /Lang (EN-US) /Pg 248 0 R >> /Type /Pages 261 0 obj Investors large and small from around the world are attracted to Silicon Valley by its track record, its talent, and its promise. endobj Nov 8, 2017. /Pg 257 0 R /P 51 0 R null 233 0 R null null null 234 0 R null null 64 0 R 65 0 R Through these advertisements, the defendants explicitly represented to individuals that Theranoss blood tests were cheaper than blood tests from conventional laboratories to induce individuals to purchase Theranoss blood tests. /P 8 0 R /Contents [437 0 R 438 0 R 439 0 R] >> /S /LBody /K 22 172 0 obj . /Pg 235 0 R Theranos employees are most likely to be members of the Democratic Party. >> 397 0 obj /Annots [] >> endobj << /S /LI We connect the world's decision makers to accurate information on the financial markets and help them make faster, smarter decisions. << 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. /Pg 257 0 R /Pg 257 0 R /S /LI 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. Help other job seekers by rating Theranos. /Lang (EN-US) /P 40 0 R /P 46 0 R /Lang (EN-US) /K 3 144 0 obj endobj 53 0 obj >> endobj endobj Theranos went on to issue private stock in six rounds between 2014 and 2015, starting at 17 cents per share and ending at $17 per share, according to a document explained by Yam, with investors . /S /LI /S /LI /K 18 None of the information on this page has been provided or approved by Theranos. The defendants nevertheless used interstate electronic wires to purchase advertisements intended to induce individuals to purchase Theranos blood tests at Walgreens stores in California and Arizona. /S /LBody << << Connor Radnovich/The Chronicle. /S /LBody /Pg 255 0 R << << endobj ] /S /P >> << /K 170 0 R << << 100 0 obj /P 308 0 R /Rotate 0 /K 14 /P 274 0 R /S /P However, any sentence following conviction would be imposed by the court after consideration of the U.S. >> 43 0 obj /K 14 12 [null null null 172 0 R null null null null 173 0 R null << 219 0 obj << The company claimed to be able to provide over 240 finger-prick blood tests, including ones that could reportedly detect cancer, according to The Wall Street Journal.
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