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Theranos Lays Off Almost All of Its Remaining Workers (marketwatch.com)

A few months ago, Theranos laid off almost half of its workforce as it struggled to recover from the backlash generated when the company failed to provide accurate results to patients using its proprietary blood test technology. Now, according to people familiar with the matter, the company is laying off most of its remaining workforce in a last-ditch effort to preserve cash and avert or at least delay bankruptcy for a few more months. MarketWatch reports: Tuesday's layoffs take the company's head count from about 125 employees to two dozen or fewer, according to people familiar with the matter. As recently as late 2015, Theranos had about 800 employees. Elizabeth Holmes, the Silicon Valley firm's founder and chief executive officer, announced the layoffs at an all-employee meeting at Theranos's offices in Newark, Calif. on Tuesday, less than a month after settling civil fraud charges with the U.S. Securities and Exchange Commission. Under the SEC settlement, Holmes was forced to relinquish her voting control over the company she founded 15 years ago as a 19-year-old Stanford dropout, give back a big chunk of her stock, and pay a $500,000 penalty. She also agreed to be barred from being an officer or director in a public company for 10 years.

91 comments

  1. When does she go to jail? by Anonymous Coward · · Score: 5, Interesting

    She lied about everything and committed numerous levels of fraud. She needs to be put on trial immediately.

    1. Re:When does she go to jail? by UnknownSoldier · · Score: 3, Interesting

      Mod parent +1 Interesting.

      Why isn't she going to jail ?

      Does anyone have a link / copy to the SEC settlement ?

    2. Re:When does she go to jail? by GrumpySteen · · Score: 4, Insightful

      Why isn't she going to jail ?

      US law has been written by corporations for decades and virtually nobody ever goes to jail for corporate fraud. The US government handed out billions to banks and bought up all the toxic assets they'd created through the most massive fraud in the history of the nation and only senior figure went to jail (and then only for 2.5 years). And now we're rolling back the minimal regulations that were put in place to prevent that type of fraud so it can happen again.

      Why would you think that it would be any different for the CEO of Theranos? I'm surprised we didn't pay off her debts and buy her a house in the Bahamas.

    3. Re:When does she go to jail? by Anonymous Coward · · Score: 2, Insightful

      Because it's a "woman in science/technology", and if they throw her ass in jail, it will send the wrong signal to young, independent, progressive women. It would demoralize them and say "you stupid cunt. You fucking piece of shit bitch. This is why men look down on you, bitch. You can't hack it and you're not as tough or awesome as a man.

    4. Re:When does she go to jail? by boundandgaggedwomen · · Score: 2

      She lied about everything and committed numerous levels of fraud. She needs to be put on trial immediately.

      The cunt belongs in jail.

    5. Re:When does she go to jail? by LynnwoodRooster · · Score: 4, Informative

      Bernie Ebbers. Bernie Madoff. Ken Lay. Martha Stewart. Martin Shkreli. Jeff Skilling. Allen Stanford. Sam Waksal. All CEOs of multi-billion dollar corporations who went to jail for corporate fraud. It's not at all uncommon - and it makes news when it happens because it is fairly uncommon for fraud at the level of Holmes. She got special treatment because she was a young woman in tech - and that is not socially acceptable to penalize her for "breaking into the boys club" even if she did commit fraud at a Worldcom/Enron/Tyco level of fraud.

      --
      Browsing at +1 - no ACs, I ignore their posts. So refreshing!
    6. Re: When does she go to jail? by Anonymous Coward · · Score: 0

      Even though more men have failed exactly like this before and also never went to jail...

    7. Re:When does she go to jail? by Anonymous Coward · · Score: 0

      Get over Hillary already, jesus fucking christ.

    8. Re: When does she go to jail? by LynnwoodRooster · · Score: 1, Interesting

      Such as? Can you name a man who founded a multi-billion dollar biotech VC-funded venture, committed extensive fraud for the better part of a decade, and walked away without even a charge or arrest, let alone a conviction?

      --
      Browsing at +1 - no ACs, I ignore their posts. So refreshing!
    9. Re:When does she go to jail? by Anonymous Coward · · Score: 0

      Shocking language from an incel like yourself.

    10. Re:When does she go to jail? by Anonymous Coward · · Score: 0

      There are two parts to the Theranos fraud. For the moment, the regulators have completed their work and found Theranos to be guilty of various regulations and have taken corrective actions. Regulators do not prosecute criminal activities. Holmes and other Theranos executives, if they are prosecuted, will be put on trial by federal prosecutors who are not part of the SEC.

    11. Re: When does she go to jail? by Anonymous Coward · · Score: 0

      1. Bullshit.
      2. A Femanist construction and engineering company, who is notorious for hiring diversity over talent and promoting SJW politics, recently had a bridge collapse due to their incompetence and killed a bunch of people. No calls for prosecution, investigation, etc.

    12. Re: When does she go to jail? by Anonymous Coward · · Score: 0

      Which bridge? You mean the Florida uni foot bridge?

    13. Re: When does she go to jail? by Anonymous Coward · · Score: 0

      Probably shouldnâ(TM)t let your bias dictate your beliefs: https://www.factcheck.org/2018/03/female-led-company-didnt-build-collapsed-bridge/

      Next time you read something from the fever swamp that is the alt-right, take a deep breath and look for alternative sources.

    14. Re:When does she go to jail? by Anonymous Coward · · Score: 0

      Ken Lay never went to prison. His conviction was vacated after he died before sentencing while vacationing with his wife in Aspen, CO.

    15. Re:When does she go to jail? by radarskiy · · Score: 1

      Either put on trial, or run for president.

    16. Re:When does she go to jail? by Cryacin · · Score: 1

      I'm sure he's now living a long and fruitful life as Mother Shabubu in Puerto Rico.

      --
      Science advances one funeral at a time- Max Planck
    17. Re:When does she go to jail? by gweihir · · Score: 1

      Can't it be both? I think the Donald needs to push a law that a president can rule from prison. He may need it to stay in office, after all...

      --
      Most ACs are not even worth the keystrokes to insult them. Be generically insulted by this and ignored otherwise.
    18. Re:When does she go to jail? by Opportunist · · Score: 3, Insightful

      So the message is "if you're a woman, rejoice, your options to get to C-Levels got better. No longer do you have to rely on your looks and your ability to give a good blowjob to get ahead, you can lie, steal, cheat your way to the top of the ladder now, too!"

      Yeah, that's the message I'd want my kids to get.

      --
      We used to have a Bill of Rights. Now, with the rights gone, all we have left is the bill.
    19. Re:When does she go to jail? by rtb61 · · Score: 1

      More likely because there were a bunch of insiders in their with her, who got it, made a fortune and got out, with full knowledge. So ping her and likely that ping will flush out a bunch of others, protected insiders.

      --
      Chaos - everything, everywhere, everywhen
    20. Re:When does she go to jail? by SNRatio · · Score: 1

      She got special treatment because she was a young woman in tech

      I highly doubt that. I think it is much more likely due to two other issues: 1. her using the executive branch of the US government as a candidate pool for her board of directors. Going after those other tycoons did not require having to depose ex Secretary of State George Schultz or going after the current Defense Secretary for trying to get the DOD to contract with Theranos. Shkreli didn't have any important friends/conspirators, so taking him down was painless. 2. The SEC is even more tame now than it used to be. A lot of the cases you mentioned would probably have settled more favorably for the tycoons if they were being decided now.

    21. Re:When does she go to jail? by Anonymous Coward · · Score: 0

      I don't think the SEC ever sends anyone to prison. They levy fines and bar people from positions, as in this case. I think the FBI or DOJ or whoever could still very well go after her for criminal charges.

    22. Re:When does she go to jail? by thomn8r · · Score: 3, Interesting

      Which goes to show that you only go to jail if you defraud other plutocrats; financially sodomizing the public is a lower offense than a parking ticket.

    23. Re:When does she go to jail? by Anonymous Coward · · Score: 0

      "Why isn't she going to jail ?"

      Perhaps just like every other corporate thot, she sucked the entire boardroom's cock to get where she is? I've seen many of these types.

    24. Re: When does she go to jail? by Comrade+Ogilvy · · Score: 1

      In the biotech space, it is standard procedure to demand to see peer reviewed published papers, patents, and lab data before writing checks. Theranos categorically refused to provide any. The "investors" threw money at a twentynothing with no college degree, no experience, no expertise. Caveat emptor.

    25. Re:When does she go to jail? by Anonymous Coward · · Score: 0

      Incel?

      Christ, you are an insufferable twat.

    26. Re:When does she go to jail? by Anonymous Coward · · Score: 0

      With a comment like that, I can only imagine the message *you* give your kids. You are cherrypicking by ignoring all the men who have also committed fraud but served no jail time. Remember, neither the law nor the penalties were put in place for Theranos/Holmes. You also imply that women are not qualified for the C-Suite, to put politely. I'm sure you children get that message.

    27. Re: When does she go to jail? by Anonymous Coward · · Score: 0

      How, in your bizarro world, would that keep her out of prison?

  2. blah, blah, blah by rmdingler · · Score: 5, Insightful

    She will: relinquish voting control, give back a big chunk of her stock, pay a $500k penalty, and agree to be barred from holding an officer or director position with a public company for 10 years.

    A relatively small private contractor would go to jail next Wednesday for a hot check to float the Easter Party.

    --
    Happiness in intelligent people is the rarest thing I know.

    Ernest Hemingway

    1. Re:blah, blah, blah by ISoldat53 · · Score: 1

      That's why it's so important to pick the right directors for your board.

    2. Re:blah, blah, blah by sd4f · · Score: 5, Insightful

      I think this is one of those instances where gender politics has really favoured her, and she did more than just fool her investors. Not only has an ignorant media, oblivious to the technicalities, promoted her and gave publicity because she was a 'woman in tech', they're certainly not covering the mess now, when they clearly got it so wrong.

      I think the media that covered her should apologise. In certain sectors, their fervour of covering all things related to culture wars, such as gender and minorities, they promoted and gave publicity to a charlatan.

    3. Re:blah, blah, blah by Anonymous Coward · · Score: 0

      Yeah, funny how Martin Shkreli got sent to federal pound-me-in-the-ass prison (even though none of the people he "defrauded" lost money) but this bitch gets off with a slap on the wrist.

      Female privilege at work.

    4. Re:blah, blah, blah by rmdingler · · Score: 2
      I don't understand that, since we allegedly live in a democracy in which the vast majority of folks are on the poorish side of the economic scale.

      It seems like eating nutritious food whenever you want, and living in better homes built in safer neighborhoods, and driving your kids to better schools in better automobiles would be enough incentive for those inclined toward greater wealth.

      Why do they need the additional Get out of jail free card?

      --
      Happiness in intelligent people is the rarest thing I know.

      Ernest Hemingway

    5. Re:blah, blah, blah by K.+S.+Kyosuke · · Score: 1

      Well, she's *not* rich, since (almost) all she had was Theranos stocks. Or is she?

      --
      Ezekiel 23:20
    6. Re:blah, blah, blah by BoRegardless · · Score: 1

      So why haven't the board members been accused of fraud and wound up in court for defrauding investors.

      It is not just the CEO/Chairman at fault.

    7. Re:blah, blah, blah by ISoldat53 · · Score: 1

      They board has a lot of political heavyweight on it. If more than one person is responsible, nobody is at fault.

    8. Re:blah, blah, blah by Anonymous Coward · · Score: 0

      "Female privilege at work"

      Shkreli couldn't keep his mouth shut & head down; see aphorism about the nail & hammer.
      Offering a bounty for pulling a hair from Clinton's head? Really?
      He also increased the price of an already expensive drug from $13 to $750 PER TABLET overnight although he's not alone in that shady practice.

      "none of the people he "defrauded" lost money"
      At least one had to chase him for nearly 6 years to get his $200k back; I went to school with the kids of some made guys; they would have turned him into foundation if he'd dodged them for 1 month over $1000

    9. Re:blah, blah, blah by thesupraman · · Score: 3, Insightful

      Because people are easily led sheep, and have been convinced that these are their betters, and that they should look up to them?
      It also helps that they own all the media, most of the government (if not all, no one who is not owned will get far), and almost most importantly, the entertainment industry.

      This is, I am afraid, the cost of popularist democracy.
      This is also probably why original democracy was NOT popularist democracy, and had a number of features, now long gone, designed to stop this very development.

      We are all busy racing to totalitarianism, with the only real competition being who wants to get there first. Right now the left is showing a more rabid love for it, however the right are playing many of the same games.

    10. Re:blah, blah, blah by Anonymous Coward · · Score: 0

      I don't understand that, since we allegedly live in a democracy in which the vast majority of folks are on the poorish side of the economic scale.

      Maybe its to do with people giving their favorite political party members a pass, no matter how poor the rank and file of that party have gotten under their leadership.

      The media is complicit in it. Has the media investigated here? Have they pinpointed what laws are the problem and done an expose? Whats that? No?

      Investigative journalism is dead. Partisan bullshit is king. Stay tuned for more McCarthyism interrupted by occasional Machiavellian preemptive strikes.

    11. Re:blah, blah, blah by known_coward_69 · · Score: 1

      it's not like she was doing all the R&D and testing. People had to know what was going on

    12. Re:blah, blah, blah by LynnwoodRooster · · Score: 1

      She wasn't as wealthy as lots of other CEOs who went to jail for fraud. Of course, most of them were middle-aged white guys in fields dominated by middle-aged white guys. They weren't a young, brash woman heralded for "breaking the glass ceiling" in the tech industry.

      --
      Browsing at +1 - no ACs, I ignore their posts. So refreshing!
    13. Re:blah, blah, blah by rmdingler · · Score: 4, Insightful

      Because people are easily led sheep, and have been convinced that these are their betters, and that they should look up to them? It also helps that they own all the media, most of the government (if not all, no one who is not owned will get far), and almost most importantly, the entertainment industry.

      This is, I am afraid, the cost of popularist democracy. This is also probably why original democracy was NOT popularist democracy, and had a number of features, now long gone, designed to stop this very development.

      We are all busy racing to totalitarianism, with the only real competition being who wants to get there first. Right now the left is showing a more rabid love for it, however the right are playing many of the same games.

      I have begun equating the left and the right with punches that equally contribute to my beat down.

      --
      Happiness in intelligent people is the rarest thing I know.

      Ernest Hemingway

    14. Re:blah, blah, blah by another_twilight · · Score: 2

      and have been convinced that these are their betters, and that they should look up to them?

      Or that they, too, can be a member of this class if they just work hard enough.
      The lie of social mobility is a large part of what keeps the poor and working classes from demanding more of the upper class/es. Everyone is a temporarily embarrassed millionaire (to misquote/paraphrase Steinbeck).

      As you say, they media is complicit as is the entertainment industry. Bread and circuses.

      This is also probably why original democracy was NOT popularist democracy, and had a number of features, now long gone, designed to stop this very development.

      From what I understand (not from the US), the majority of states only allowed white, male, landowners to vote when the republic was founded - which is kind of plutocratic, albeit with a lower threshold to entry and in a period with greater social mobility. The modern system is most certainly plutocratic, which is leaving the majority increasingly unrepresented, disenfranchised and vulnerable to populism - never mind that it's just exchanging one master for another. Already certain segments of the population have realised that the odds of success are vastly lower than the ideal and have withdrawn from the social contract.

      Right and Left are part of the same ruling class. The US left pander to one segment of society; the right another - but neither are representative of those populations and have grown increasingly complacent about even keeping them marginally happy.

      Power accumulates. Without mechanisms to oppose this and to maintain an equilibrium, you reach a point of imbalance where the system tips and a new equilibrium forms. A populist leader is probably the least disruptive of those, but if you keep forcing the system in one direction, you will end up with increasing crime, civil unrest, violence and revolution or civil war (if history is any guide).

    15. Re:blah, blah, blah by Frank+Burly · · Score: 1
      Board members usually have a PowerPoint's idea of how the business is run. And the PowerPoint is written by the CEO.

      So, GIGO, and probably not a case for fraud.

    16. Re:blah, blah, blah by Anonymous Coward · · Score: 0

      Doesn't the media nearly always promote and give publicity to charlatan's? That seems to be the default.

    17. Re:blah, blah, blah by gravewax · · Score: 1

      Martin Shkreli was a scumbag on a whole other level to Holmes. Also how can you say no one lost money, he defrauded investors out of 10 million dollars.

    18. Re:blah, blah, blah by Anonymous Coward · · Score: 0

      She wasn't as wealthy as lots of other CEOs who went to jail for fraud. Of course, most of them were middle-aged white guys in fields dominated by middle-aged white guys.

      That list seems mostly useless (hand surgeons, guys in jail for DUI-manslaughter, Martha Stewart, etc.) and I stopped looking at it half way through. But the first guy, the Enron one, was the CEO of a company with twenty thousand employees and claimed 100 billion in revenue. It's very different from being the CEO of a fairly small start-up, don't you think? So why would they be as wealthy?

    19. Re:blah, blah, blah by Cryacin · · Score: 1

      I'd rather be left right out

      --
      Science advances one funeral at a time- Max Planck
    20. Re:blah, blah, blah by Anonymous Coward · · Score: 0

      They did, some of the internal whistle blowers are why she got caught.

    21. Re:blah, blah, blah by gweihir · · Score: 1

      The SEC cannot hand out criminal penalties. They pretty much gave her the maximum possible.

      --
      Most ACs are not even worth the keystrokes to insult them. Be generically insulted by this and ignored otherwise.
    22. Re:blah, blah, blah by houghi · · Score: 1

      Right and left are the wings of the same bird. What needs to be done is a complete political overhaul so a multi party system will replace it.
      The way to prevent a multi party system to go to a bi-party system is already known, Look it up.
      The reason a multi party system is better is because you need to negotiate and nothing is black-white. That way the most people (No, not all) will get the benefits.
      How to do a political system is also known. This can happen peacefully. History has shown that that is not the default way and the US even has implemented a way to NOT have it peacefully.
      Those guns you are allowed to have is not so you can hunt rabbits to eat during picketing. They are there to be used in a militia to go up against government.

      The only thing, at this moment, that is not available is the willingness of enough people to actually do something about it. This could stay the same for several hundreds of years or could change next week. History only shows the steps afterwards and that is always 20/20.

      Obviously I do hope that a political change happens peacefully, but the people that have the power nd the monies are not really willing to give it up.

      --
      Don't fight for your country, if your country does not fight for you.
    23. Re:blah, blah, blah by thegarbz · · Score: 2

      they're certainly not covering the mess now, when they clearly got it so wrong.

      Is this the media that isn't covering it?:

      https://www.wsj.com/articles/t...
      https://nypost.com/2018/04/10/...
      http://fortune.com/2018/04/10/...
      https://www.foxbusiness.com/ma...

      I skipped the tech sites which are all covering it too and just quoted sites that actually are more general purpose.

    24. Re:blah, blah, blah by Opportunist · · Score: 1

      She's not in jail. That's richer than she should be if there was a legal system in place.

      --
      We used to have a Bill of Rights. Now, with the rights gone, all we have left is the bill.
    25. Re:blah, blah, blah by Opportunist · · Score: 1

      That didn't work out so well in Germany 75 years ago.

      --
      We used to have a Bill of Rights. Now, with the rights gone, all we have left is the bill.
    26. Re:blah, blah, blah by Anonymous Coward · · Score: 0

      I noticed CNN was a day late picking it up after the first fraud story broke. Then it was something like 'CEO does something evil details inside"
      They had huge feature articles about her before that.
      The news is covering it but clearly it's embarrassing for some outlets.

    27. Re:blah, blah, blah by Anonymous Coward · · Score: 0

      I'd rather be left right out in the cold

    28. Re:blah, blah, blah by Anonymous Coward · · Score: 0

      Why is it that people think that just because they just found out about something, it means the media has not been covering it. Isn't it media coverage that exposed the shortcomings of Theranos?

      Anyone around during the first internet bubble should recall being not being able to turn around without bumping into some founder who promised the world but had zero technology to back it up. I worked for one of those companies. Investors lost millions. No one went to jail. It wasn't even a question. The only question was how soon to repeat.

    29. Re:blah, blah, blah by sd4f · · Score: 1

      Yea, I should have said that the media aren't covering or admitting to their errors. They're not really doing it justice in comparison to the glowing praise of the female Steve Jobs that they published years ago.

    30. Re:blah, blah, blah by thegarbz · · Score: 1

      Yea, I should have said that the media aren't covering or admitting to their errors. They're not really doing it justice in comparison to the glowing praise of the female Steve Jobs that they published years ago.

      There's an easy answer to that: no one cares. The media deals with the idiot classes or sub groups. The former don't care about the technicalities at all, the latter are only interested in what their sub group is about (e.g. finance media will only detail the finances of the company, who cares about fraud).

      This isn't some wild conspiracy, it's just purely what sells papers.

    31. Re:blah, blah, blah by sd4f · · Score: 1

      I don't disagree with you, but I think that in general terms, the media is really bad at issuing corrections. Unlike the scientific and technical community where issuing revisions or corrections is just a normal procedure (in many or most situations), the news industry tend to do whatever it can to not correct the record, unless they absolutely have to. Ultimately, though, this only happens because yes, no one cares.

    32. Re:blah, blah, blah by thegarbz · · Score: 1

      the media is really bad at issuing corrections.

      Consider why that is in the context of what I said. No one cares that the paper made a mistake. It is quite consistent. The media is bad at issuing corrections because the newspaper relies on either facts for subgroups or outrage for the general masses.

      the news industry tend to do whatever it can to not correct the record

      No they don't. The news papers happily issue corrections when asked to and don't tend to fight it much. But not issuing corrections because it doesn't sell papers is not the same as doing whatever they can not to, and most cases that end up in the legal system as a result are purle because the correction offered didn't get the attention the original accusation did.

      If anything the media these days tend to go out of their way not to say anything that needs correcting. You could literally have someone suicide on live TV and the media will print that it "was alleged he did so".

      Don't waste the time and effort on shit people don't want to read. If people wanted corrections then they would be provided, and that can be seen in the papers focused on subgroups which are far more likely to issue a correction than the normal media. Again because the sub groups typically are interested more in the details.

    33. Re:blah, blah, blah by david_thornley · · Score: 1

      Mainstream journalism is reasonably good about reporting errors about facts. However, "Elizabeth Holmes Is Astounding New Tech Woman" is an opinion, not a fact. Opinions change. There are sections in scientific papers for things that are neither data nor logical conclusions of data, such as "Further Research". If the "Further Research" section turns out to be dumb, do journals issue corrections?

      --
      "When you have eliminated the unacceptable, whatever is left, however improbable, must be the truthiness" - Holmes
  3. Re:SCAMMERS STILL ALIVE? by Anonymous Coward · · Score: 0

    Oh, Trumpverse, run by Republican crooks. Gotcha!

    This steaming pile of shit happened under obama's watch. Do you SJW's ever tire of blaming Trump for everything?

    And I agree with the other poster's wondering why this bitch ain't in jail!

  4. Comment removed by account_deleted · · Score: 2

    Comment removed based on user account deletion

  5. Only two dozen employees remain by JoeyRox · · Score: 1

    Which to Elizabeth Holmes means they're still going to release a perfected version of their ground-breaking blood testing product. The woman will be repeating this to herself 2,000 times a day in her jail cell.

  6. You don't spill the blood of kings by rsilvergun · · Score: 1

    she's a member of the ruling class.

    --
    Hi! I make Firefox Plug-ins. Check 'em out @ https://addons.mozilla.org/en-US/firefox/addon/youtube-mp3-podcaster/
    1. Re:You don't spill the blood of kings by Gojira+Shipi-Taro · · Score: 1

      Tell that to the French.

      --
      "Oh my God. This is terrible. This is the end of my Presidency. I'm fucked."; ~ Donald J. Trump
    2. Re:You don't spill the blood of kings by Opportunist · · Score: 1

      Could we? Pretty please?

      --
      We used to have a Bill of Rights. Now, with the rights gone, all we have left is the bill.
  7. With the support of the European Patent Office! by Anonymous Coward · · Score: 0

    The European Patent Office helped the fraud: http://techrights.org/2016/04/20/theranos-and-epo/

  8. But who will be left by RightwingNutjob · · Score: 1

    to perform the chemistries?

  9. Up the ass... by Anonymous Coward · · Score: 0

    ...with the ruling class!

  10. Re:SCAMMERS STILL ALIVE? by Anonymous Coward · · Score: 0

    ... and yet, still alive.

    Trump's Sec. of War (Mattis) 'za board member of Theranos, before he (Mattis) went bankrupt.

  11. wow and just in time for infinity war! by bonedonut · · Score: 1

    what a jerk.

  12. What do they need the remaining ones for? Would you buy a blood test from these people?

    1. Re:Wha? by Ungrounded+Lightning · · Score: 1

      What do they need the remaining ones for?

      My wife just said "Somebody needs to turn out the lights."

      --
      Bantam Dominique roosters crow a four-note song. Once you've heard it as "Happy BIRTHday" you can't NOT hear it that way
    2. Re:Wha? by thegarbz · · Score: 1

      What do they need the remaining ones for? Would you buy a blood test from these people?

      Someone has to file legal paperwork.

  13. What are they DOING? by mhkohne · · Score: 1

    I mean, if they have ANY sort of technology, they need to just sell it and be done, as no one will EVER trust these dipsticks to make a product. So why the waiting game - we all know where this ends. Are they just going through the motions while they court perspective buyers for the tech? Or is the tech so much a fantasy that they are going through the motions, hoping to run out of money and not have to show their empty papers to anyone?

    --
    A thousand pounds of wood moving at 300 feet per minute. Don't get in the way.
    1. Re:What are they DOING? by gweihir · · Score: 2

      They do not have a product. What probably happens here is that Holmes had an idea she though was really great (being an inexperienced student does that to you) and decided to not run it by anybody with an actual clue and instead tried to get rich. Then the media discovered this wondergirl and pushed her as high as they could. At that time, something that would otherwise have faded away quietly and would probably have left her with debt and no finished education, turned into a huge train-wreck because she actually got investors that believed the demented things the media was writing about her.

      In actual reality, nobody this age has made any real scientific breakthroughs in modern times. It takes a decade or longer to even get into a field deep enough to understand what the questions are and that is if you are smart and already have the basics. There was zero chance she could deliver.

      --
      Most ACs are not even worth the keystrokes to insult them. Be generically insulted by this and ignored otherwise.
  14. Aaand by Anonymous Coward · · Score: 0

    Now we know what happens when the rest of the world buys into millennials' high opinions of themselves rather than measuring them against reality. Good riddance.

  15. Weird time for layoffs by Anonymous Coward · · Score: 0

    I would think he would want as many workers as possible if he wants to get his hands on all those Infinity Stones.

  16. No jail? by Anonymous Coward · · Score: 0

    She gets no jail time and Martin Shkreli gets 7 years in jail. Amount of money she defrauded were in multiples of what Martin Shkreli ever did. She never paid back the money to her investors but Martin Shkreli did so with profits from his one venture that made money. Where's the feminist outrage about unequal justice?

    1. Re: No jail? by Anonymous Coward · · Score: 0

      It has to go to trial before there is jail time, apparently.

    2. Re: No jail? by gweihir · · Score: 1

      The SEC cannot hand out criminal penalties, so yes.

      --
      Most ACs are not even worth the keystrokes to insult them. Be generically insulted by this and ignored otherwise.
  17. Re:SCAMMERS STILL ALIVE? by Ungrounded+Lightning · · Score: 1

    Trump's Sec. of War (Mattis) 'za board member of Theranos, before he (Mattis) went bankrupt.

    As opposed to, say, Solyndra, just down the road about eleven miles, which blew a half Billion-with-a-B, under the watch (and into the pockets) of one of Obama's campaign "check bundlers" and his crew.

    "The Swamp" is an equal-opportunity corrupter.

    --
    Bantam Dominique roosters crow a four-note song. Once you've heard it as "Happy BIRTHday" you can't NOT hear it that way
  18. Good by Anonymous Coward · · Score: 0

    Shit on them.

  19. this is a perplexing situation. by Anonymous Coward · · Score: 0

    that dumb bitch, no only has she bent over formsmash's famous blk dildo. but she has fucked everey one around her.
    that fucking bitch put so many lives at risk for her own vanity/satisfaction.
    but there's the perplex.
    do we feed her to the dogs
    or
    do we as a society give her a free ride for the rest of her life courtesy of the Justice system?
    Worthless bitch, rot in hell with all of the test subjects you have ruined over the years.

  20. Once you reach a certain level, jail is not an opt by Anonymous Coward · · Score: 0

    I wonder how many people hate the notion that the rich get away with massive crimes but also hate politicians like Elizabeth Warren who fight to change that.

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  22. Re:SCAMMERS STILL ALIVE? by david_thornley · · Score: 1

    Solyndra had a product that worked, unlike Theranos. Solyndra failed largely because competing technologies got far cheaper, whereas Theranos failed because they didn't have the tech they claimed they had. The cases aren't comparable.

    --
    "When you have eliminated the unacceptable, whatever is left, however improbable, must be the truthiness" - Holmes