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Theranos To Investors: Please Don't Sue! Here, Have Some More Shares (siliconbeat.com)
Theranos "plans to give additional shares to investors who pledge not to sue," reports the Wall Street Journal. An anonymous reader quotes Silicon Beat:
The deal, which hasn't been disclosed publicly, was approved by the Palo Alto-based company's board last month, The Wall Street Journal reported, citing anonymous "people familiar with the matter." They said most investors have tentatively agreed to the deal. Those extra shares are coming from none other than founder and CEO Elizabeth Holmes' personal cache, the Journal reported. That means the beleaguered founder, who has remained stubbornly at the helm of her struggling startup even though federal regulators have barred her from running a medical lab for two years, would give up her majority ownership in the company.
how badly investors were harmed? How about the people who had fake blood tests from Elizabeth Holmes run on them with fake results? She should be in prison.
This scam has gone on long enough. Holmes has never subjected her tests to government scrutiny, nor allowed anyone to try and replicate the results. And there's a good reason for that. Her tests don't work. Her own labs don't even use the tests. They use standard, verified, tests to do their work.
Holmes has done nothing over the years to show she has any intention of providing a real service. All she's done is bleed investors of their money.
Anyone who thinks getting shares of this scam company will somehow make the problems go away is delusional.
we'll give you millions of zero dollars. Feel better?
If you post it, they will read.
"The chef burned the fries, so we gave you extra"
theranos: for the love of god and all thats holy, please do not litigate.
Uber: every week we get a new lawsuit, cities are outlawing us, countries have banned us or taxed our business model, workers have united and are forming unions, we actively thwarted regulatory attempts with greyball, our drivers have turned out to be serial killers and rapists, and our president just quit...but uh...i guess we're still worth ten billion dollars ya know!?
Good people go to bed earlier.
She isn't in jail yet? It seems like textbook case of fraud.
"First they came for the slanderers and i said nothing."
Women aren't liars and thieves like men are. She's probably just been scammed herself by her employees who lied to her about their results, and now she is trying to set that right.
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Leona Hemsley - "taxes are for little people." Mata Hari, Tokyo Rose, mass murderer Jane Toppan (31 victims), Nannie Doss (11 killings), Miyuki Ishikawa (103), Juana Barraza (dozens), Dagmar Overbye (up to 25), and in goody two-shoes Canada, Karla Hololka, who raped and killed her sister and two others with the help of her husband Paul Bernardo, and currently, former nurse Elizabeth Wettlaufer is accused of murdering 8 patients in nursing homes via insulin injections.
None of this changes the fact that the vast majority of serial killers are men, but to say that women aren't "liars and thieves like men" when women can be serial killers is a bit ... well ... not buying it.
And obviously, you aren't either ... but this being slashdot, there's going to be some who need <sarcasm> tags ...
"Transparent" is a shit show that trades on every stereotype going. A man in drag is NOT a transsexual.
Here / Hear...
If you want news from today, you have to come back tomorrow.
https://www.youtube.com/watch?v=arENYYkYBts
A dotcom company paying Lisa and Bart in shares...
http://villains.wikia.com/wiki... I think this explains a lot.
in America. We pretend to. We've been attacking 'useless bureaucracy' for 30+ years. Mostly because we don't like waiting in line t the DMV. But instead of shorter lines for our kids' drivers license we get phony medicine and lead in our water.
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Looks like he might trash the US' healthcare system, but from what I hear, that was never really available to most people in the first place.
The vast majority of Americans have access to healthcare. The vast majority of poor people can/do get medicaid. There's just a small sliver of people in the space between "poor enough for medicaid" and "rich enough to get employer paid insurance" where people have trouble.
The other difficulty is when you quit your job (while looking for a new one, or taking a break, or whatever), insurance can lapse.
"First they came for the slanderers and i said nothing."
As one of the 50% percent who never goes to the dentist, I can assure you it has nothing to do with cost. The percentage without healthcare is at 9%.
"First they came for the slanderers and i said nothing."
This is...quite something. She's still in charge (and collecting a paycheck, presumably). She'll get rid of some of her shares, AND drop being majority stakeholder, so she can get fired by the board, instead of quitting, thus triggering whatever golden parachute she's got. If she's smart she'll sell off the rest of her shares before the whole things winds down.
From the investor's side, I guess it makes sense - if they start suing, the lawyers probably end up with all the money, so just letting it play out might be their best hope for a return.
Sigh. For all the problems it has (and the FDA has many), this kind of nonsense is why it exists in the first place.
A thousand pounds of wood moving at 300 feet per minute. Don't get in the way.