35 Burst results for "Theranos"

Elizabeth Holmes' Lavish Lifestyle Looms Over Theranos Fraud Case

WSJ What's News

00:32 sec | Last month

Elizabeth Holmes' Lavish Lifestyle Looms Over Theranos Fraud Case

"There are no founder. Elizabeth holmes is fighting to shield her wealth from a ahead of her criminal fraud trial. Her attorneys sparred with federal prosecutors over whether details of her lifestyle including perks and fame attained as chief executive would be relevant to jurors. She's facing a trial in august on charges of wire fraud and to commit wire fraud for alleged misrepresentation. She made about theranos blood testing technology. The judge did an issue immediate ruling. She has pleaded not guilty

Elizabeth Holmes
Investors Are Throwing Money at mRNA Technologies

Marketplace Tech with Molly Wood

01:26 min | 2 months ago

Investors Are Throwing Money at mRNA Technologies

"We've been talking about all. The potential for 'em are innate. Technology means virus detection for all kinds of diseases. Now let's talk about the money because the rush is on to invest in marin a and the whole field of synthetic biology which approaches the body in natural systems as programmable platforms like computers however. The history of silicon valley and medical tech is mixed. You remember theranos and just last week. The founders of a hot biotech firm called you buy ohm were charged with fraud in a similar fashion. John chambers is the founder of syn bio beta a network for entrepreneurs engineers and investors interested in synthetic biology. He says billions of dollars are flowing into the field. Now what you're seeing is a new generation of investors and entrepreneurs coming in who are looking at a whole new set of tools around reading writing and editing of dna and designing and building and testing of biological systems. So you've got to look at the potential for these technologies to do a lot of good in the world not just in healthcare or quantified self or in this case irony vaccines but also for climate change for food production for chemicals and materials. So i think with any technology that the power to do good. And there's a powder do bad but i think with this technology the power to do good in so many different parts of the lives is just huge.

Syn Bio Beta Marin John Chambers
Elizabeth Holmes denies destroying evidence in Theranos case

Squawk Pod

01:10 min | 3 months ago

Elizabeth Holmes denies destroying evidence in Theranos case

"There is a new development in the theranos elizabeth holmes case it came late last night and attorneys for homes accused the government of losing a database that contained three years worth of accuracy and failure rates. If there are knows tests prosecutors alleged that theranos executives destroyed that database because it proved that the blood testing private product was inaccurate. This argument over testing evidence will be argued out before a judge next month and that will set the stage for homes as much awaited trial which is set to begin in july. This is really kinda complicated but the government the prosecutors say that they asked for this information they were given a backup drive that their executives gave them the drive. They forgot the password that they had sat on it They say that they are knows. People forgot the password that was set on it. They asked for this back in two thousand and eighteen. And i think three months later the main the main computer system the the database was destroyed after that they say it was done intentionally the prosecutors say that they have email evidence that shows that this was done intentionally but this is going to be just another step and incredibly compelling argument that we've watched back and forth.

Elizabeth Holmes Theranos
The rise and fall of Elizabeth Holmes, the Theranos founder whose federal fraud trial is delayed until 2021

TechStuff

02:14 min | 5 months ago

The rise and fall of Elizabeth Holmes, the Theranos founder whose federal fraud trial is delayed until 2021

"The pandemic also delayed one of the more anticipated criminal trials. In recent tech history. Elizabeth holmes founder of medical startup fairness was to have her trial began in twenty twenty but the pandemic became a factor and the court would order the trial to be delayed until the spring of twenty twenty one for those who don't know who elizabeth holmes is or what her company theranos did. Here's a super brief rundown homes who idolized silicon valley leaders. Like steve jobs created a company that had the goal of developing a medical device. The device which was projected to be about the size of your typical desktop printer would be able to take a very small blood sample the tiniest little droplet and run hundreds of different analytical tests on that sample within a short time perhaps an hour or two the device would produce a report about that sample giving the user information about their health diagnosing any diseases or conditions and in theory empowering the user and the idea was to democratize medicine in a way that would give users more information about their own health and better to interact with their primary care physician and the medical establishment. Some doctors worried that this would cause people to misinterpret results but it turns out. They didn't really have much to fear because the device never worked properly at least not to the extent that the company wanted it to it turned out the actual process was way more complicated than home. Said i imagined. Enter team of engineers were tackling problem after problem in order to try and make it work in the meantime the allegations against home state that she and her fellow executives purposefully misled investors including using equipment from established blood testing companies to run blood tests while claiming that a theranos device was actually doing all the work the house of cards came crashing down but not before investors had poured more than seven hundred million dollars into it homes is now charged with numerous counts of fraud. And we'll have to wait to see how that all turns out.

Elizabeth Holmes Theranos Steve Jobs
"theranos" Discussed on TED Talks Daily

TED Talks Daily

02:29 min | 7 months ago

"theranos" Discussed on TED Talks Daily

"So luckily in my own experience i realized that when it comes to speaking up the action tends to be pretty straightforward in most cases but the hard part is really deciding whether to act or not. So how do we frame our decisions in a way that makes it easier easier for us to act and produce more ethical outcomes so ucla uc san. Diego come came up with this framework called the three cs and it's called commitment. Consciousness in competency and commitment is the desire to do the right thing regardless of the cost in my case that there their knows. If i was wrong. I was going to have to pay the consequences but if i was right the fact that i could have been a person that knew what was going on in. Didn't say something. That was purgatory. Being silent was purgatory. There's consciousness though awareness to act consistently and apply moral convictions to daily behavior behavior and the third aspect is Incompetency is the ability to collect and evaluate information and for see potential consequences in risk. In the reason i could trust. My competency was because i was acting in service of others. So i think a simple process is really taking those actions in imagining. If this happened to my children to my parents to my spouse to my neighbors to my community if i took that how will it be remembered in with that. I hope as we all venture off to build our own moon shots. We don't just conceptualize them in a way as a means for people to survive but really see them as opportunities in chances for everybody to thrive. Thank you ted. Talks daily is hosted by me at least few and produced by ted. The music is from allison. Leyton brown in our mixer is christopher phasing bogan. We record the talks. Ted events we host or from ted ex events which are organized independently by volunteers. All over the world. And we'd love to hear from you. Leave us a review on apple. Podcasts or email us at podcasts at ted dot com or..

ted san Diego Leyton brown apple allison
"theranos" Discussed on TED Talks Daily

TED Talks Daily

05:21 min | 7 months ago

"theranos" Discussed on TED Talks Daily

"So i had graduated seven years ago from berkeley with the dual degree in molecular and cell biology and linguistics. And i had gone to a career fair here on campus had gotten an interview with the startup called thanos and at the time. There wasn't really that much information about the company but the little that was there was really impressive. Essentially what the company was doing was creating a medical device where you would be able to run your entire blood pam panel on a finger stick blood. She wouldn't have to get a big needle stuck in your harm in order to get your blood tests done so this was interesting not only because it was less painful but also it could potentially open the door to predictive diagnostics. If you had a device that allowed for more frequent and continuous diagnosis potentially you could diagnose disease before someone got sick and this was confirmed in an interview that the founder elizabeth holmes had said in the wall street journal. You know the reality within our healthcare system today. Is that when someone you care about gets really sick by the time you found out. It's too late to do anything about it. And it's heartbreaking. This was a moonshot. That i really wanted to be a part of and i really wanted to help bills and there was another reason why i think the story of elizabeth really appealed to me so there was a time that someone had said to me. Erica there are two types of people. There are those that thrive in those that. Survive in you my dear our survivor. Before i went to university. I had grown up in a one bedroom trailer with six family members. And when i told people i wanted to go to berkeley they would say well. I want to be an astronaut. So good luck. And i stuck with it and i worked hard. I managed to get in honestly. My first year was very challenging. I was the victim of a series of crimes. I was robbed at gunpoint. I was sexually assaulted. And i was sexually assaulted at third time. Spring on very severe panic attacks where it was failing my classes and dropped out school and at this moment people had said to me erica. Maybe you're not cut out for the sciences. Maybe you should reconsider doing something else. And i told myself you know what if i don't make the cut i don't make the cut but i cannot give up myself and i'm going to go for this and even if i'm not the best for it i'm going to try to make it happen and luckily i stuck with it and i got the degree and i graduated. So when i heard elizabeth holmes had dropped out of stanford at age nineteen to start this company and it was being quite successful to me. It was a signal of you know. Didn't matter what your background was. As long as you committed hard work and intelligence that was enough to make an impact on the world. And this was something for me personally that i had to believe in my life because it was one of the few anchors that i had had that. Got me through the day. So you can imagine when i thought about theranos. I really anticipated that. This would be the first and last company that i was going to work for. This was finally my opportunity to contribute to society to solve the problems that i had seen in the world but i started to note some problems so i started off as an entry level associate and the lab and we would be sitting in a lab meeting reviewing data to confirm whether the technology worked or not. And someone would say to me. Well let's get rid of the outlier and see how that affects the accuracy rate. So what constitutes outlier here. Which one is the outlier in the answer. Is you have no. You don't know right. In deleting a data point is really violating one of the things that i found so beautiful about the scientific process which it really allows the data to reveal the truth to you and as tempting as it might be in certain scenarios to place your story on the data to confirm your own narrative when you do this has really bad future consequences so this to me was almost immediately a red flag in a kind of folded into the next experience and the next red flag that i started to see within the clinical laboratory so clinical laboratory is where you actively process patient samples and so before. I would run a patient sample. I would have a sample where i knew what the concentration was. And in this case it was point to for tps psa which is an indicator of whether someone has prostate cancer or is at risk of prostate cancer. Or not. but when i'd run it in the theranos device it would come out eight point nine and then i'd run it again and it come out five point one and i'd run it again. Had come out point five which is technically in range. But what do you do in this scenario. What is the accurate answer

elizabeth holmes Berkeley twenty twenty Eric chung ted wall street journal founder Erica
Theranos, whistleblowing and speaking truth to power

TED Talks Daily

05:21 min | 7 months ago

Theranos, whistleblowing and speaking truth to power

"So i had graduated seven years ago from berkeley with the dual degree in molecular and cell biology and linguistics. And i had gone to a career fair here on campus had gotten an interview with the startup called thanos and at the time. There wasn't really that much information about the company but the little that was there was really impressive. Essentially what the company was doing was creating a medical device where you would be able to run your entire blood pam panel on a finger stick blood. She wouldn't have to get a big needle stuck in your harm in order to get your blood tests done so this was interesting not only because it was less painful but also it could potentially open the door to predictive diagnostics. If you had a device that allowed for more frequent and continuous diagnosis potentially you could diagnose disease before someone got sick and this was confirmed in an interview that the founder elizabeth holmes had said in the wall street journal. You know the reality within our healthcare system today. Is that when someone you care about gets really sick by the time you found out. It's too late to do anything about it. And it's heartbreaking. This was a moonshot. That i really wanted to be a part of and i really wanted to help bills and there was another reason why i think the story of elizabeth really appealed to me so there was a time that someone had said to me. Erica there are two types of people. There are those that thrive in those that. Survive in you my dear our survivor. Before i went to university. I had grown up in a one bedroom trailer with six family members. And when i told people i wanted to go to berkeley they would say well. I want to be an astronaut. So good luck. And i stuck with it and i worked hard. I managed to get in honestly. My first year was very challenging. I was the victim of a series of crimes. I was robbed at gunpoint. I was sexually assaulted. And i was sexually assaulted at third time. Spring on very severe panic attacks where it was failing my classes and dropped out school and at this moment people had said to me erica. Maybe you're not cut out for the sciences. Maybe you should reconsider doing something else. And i told myself you know what if i don't make the cut i don't make the cut but i cannot give up myself and i'm going to go for this and even if i'm not the best for it i'm going to try to make it happen and luckily i stuck with it and i got the degree and i graduated. So when i heard elizabeth holmes had dropped out of stanford at age nineteen to start this company and it was being quite successful to me. It was a signal of you know. Didn't matter what your background was. As long as you committed hard work and intelligence that was enough to make an impact on the world. And this was something for me personally that i had to believe in my life because it was one of the few anchors that i had had that. Got me through the day. So you can imagine when i thought about theranos. I really anticipated that. This would be the first and last company that i was going to work for. This was finally my opportunity to contribute to society to solve the problems that i had seen in the world but i started to note some problems so i started off as an entry level associate and the lab and we would be sitting in a lab meeting reviewing data to confirm whether the technology worked or not. And someone would say to me. Well let's get rid of the outlier and see how that affects the accuracy rate. So what constitutes outlier here. Which one is the outlier in the answer. Is you have no. You don't know right. In deleting a data point is really violating one of the things that i found so beautiful about the scientific process which it really allows the data to reveal the truth to you and as tempting as it might be in certain scenarios to place your story on the data to confirm your own narrative when you do this has really bad future consequences so this to me was almost immediately a red flag in a kind of folded into the next experience and the next red flag that i started to see within the clinical laboratory so clinical laboratory is where you actively process patient samples and so before. I would run a patient sample. I would have a sample where i knew what the concentration was. And in this case it was point to for tps psa which is an indicator of whether someone has prostate cancer or is at risk of prostate cancer. Or not. but when i'd run it in the theranos device it would come out eight point nine and then i'd run it again and it come out five point one and i'd run it again. Had come out point five which is technically in range. But what do you do in this scenario. What is the accurate answer

Elizabeth Holmes Berkeley PAM The Wall Street Journal Erica Elizabeth Stanford Prostate Cancer
Getting Glammed Up For The iHeartRadio Podcast Awards

Forever35

11:27 min | 1 year ago

Getting Glammed Up For The iHeartRadio Podcast Awards

"Going to chat a little bit of top here on this episode about our experiences at the iheartradio podcast awards. Oh yes because we got clammed up we sure did we shared it and we're going to break down our Glam because we were nominated we were nominated for best fashion and beauty. PODCAST and spoiler. We won we won an an award. We won an award. I mean not to to my own horn but Tutu to say smash that Horn Button Dory because it was very very cool to win an award. It was cool and before we won I was sort of like whatever and then we won and I was like this is the coolest thing ever. We also didn't the plan on winning so when they announced games we'd just laughed. We did we really. And we did not have any nothing to say. But we were nominated alongside such awesome. Awesome podcasts yeah and fat Mascara naked beauty dressed the history of fashion and the cut on Tuesdays. Look at you and we beat them all it. Just kidding I mean look it was great to meet so many people just be around other pods around other podcasters. See Gavin to grow perfor- Kevin Durant perform was. He was very still. He's still got lucky. Still got it and it was cool just being like getting to meet the people who made the Elizabeth homes theranos dropout podcast for your cool. They were cool. We just got to chat with people. It was neat. Yeah it was like seeing all your favorite podcast people. Irl The guy who does lower was lurking around everywhere share. Was He presented an Award Conan. O'Brien Conan there. He didn't stay for the after party though he didn't Nora mcnerney our favorite successors were Stanton won an award. Anyway that was very cool and during I don't normally glam without. We would discuss that up top on this episode and we should say this is a guest free episode. Yes we're trying out ESTA just us for better or for worse. You're stuck with us today. We're trying something new where we just have occasional episodes where it's just too we can make if we attorney okay. Okay so airbrushed my life you. Did you know when I went into your bedroom to change. Noticed it on your nightstand and I was like. Ah He airbrushed her leg. Okay so I've never had a spray Tan I've always wanted to get one and it just feels like a lot of work work and so I've never done it. Yeah and then. The thought crossed my mind because I was wearing a short dress without stockings. And then I was like. I don't have the energy or the time or the money and one of my kids was sick last week and involved like a trip to the emergency room and it was a whole spiel so instead I went to Ulta and I purchased Sally. Sally Hansen Airbrush Legs Lotion. Okay and I just rub it on. So it's not a self tanner it kind. I don't know what what it is. Is it basically like tinted moisturizer for your legs. Yes but it also like smooth them out in a way that felt very creepy but also wonderful laming in your legs look great they looked. I have you know. I'm pretty pasty. I bruise easily. Same you know and look no shame and loving ourselves as we they are but for this event I wanted airbrushed legs so look for like eight bucks. Yeah it was. It was Kinda fun purchase. I would definitely use it again. Was it something that you went to Ulta to get. Did you know you're going to get them or you just saw and you're like oh no sounds like a good idea. I went because I knew because a woman I worked with WHO used to work in television news once told me about it and she was like always used the Sally Hansen airbrush legs spray. I got the lotion and the spray. And they went with the lotion. Okay but I also went to Ulta to get press on nails. Yes your nails looked amazing because I wanted to try press on nails because there's been a lot of changes in the world of press on nails. Since we were children there have been there have been advances. PRESA nails are very good now. They stay on and so I bought myself some dashing diva diva press on nails. They looked amazing. Like I kind I kind of I was like oh I should have just done this because I didn't have time to get a manicure. Didn't even think about it exactly way. I could have bought you some. Although they were like they were like wiped out at the alte I went to which makes me think. Yes all the iheartradio podcast award award nominee westwards press on now CONAN there. I just think it's a thing people are doing now. Yes the like technology. The adhesive technology is it's much better than it was back when we were young INS. I was just noticing. You're not wearing them anymore. No I took them off. Because the following morning I had to participate in like a garden build older my children and how were they to remove pretty easy actually just yeah and so you know for me I have very short nails are very thin. Nails nails I've gotten very into powder dip but that kind of did a number on my nails the that broke and mail. Yes which listener recently asked just how that is it healed itself. Oh good good good grew out but anyway that was the other thing I did press on nails love that was like a new new beauty adventure. Really Fun Yeah. L. Shaved for the first time in like two months. Okay I put. I'd used wander beauties baggage claim. I'm asks before I did my makeup I should say I didn't do you make up during I hired Glam squad. We sure didn't really went for it. We did we should tell everyone I did not WanNa get Glam squad dory was like no. It wasn't going to bring it up and since you're bringing what let's just do our own hair and makeup in. You're very persistent. Well you know what it was. We recently had photos taken and I did my own hair and makeup and I thought I looked fine. I thought I looked good. And then we got the photos back and I was like I guess they did my makeup for like irl life and not not Hitler and not not like photographing life. Yeah and it's different. It's different and it was like you know what this thing is a red carpet. I've never walked red carpet before and our award is getting handed out on the red carpet which they informed us like four days ahead of time. And what if I'm going to be photographed by at least I wanNA feel like I look my best. We are also in the fashion and beauty cat and we were in fashioned beauty category. So I felt like if I showed up with like I don't know bad hair crappy. Makeup people will be like what so I said this in. Kate was sort of like. I don't think so. I don't think we need it. I don't think I'm going to do it and then you came around. I think you saw one of the other nominees getting prepped. Yeah and they looked amazing and I was like what am I thinking. Yeah and then thankfully. I'm glad we did because we got our pictures taken. Yeah we did. It has never happened to me in my life and you know I felt like we looked good. Someone we got our hair done and like actually did my hair and you have like a hairstyle like you were like. This is how I want. I want my hair to look. I know it was exciting. I had a whole theme yet. Had A cat I for the first time great. I felt comfortable and confident. You look MoD. That's what I was kind of going for laud goes into it I also want to say that I wore a spanks body suit which I don't mind body whereabout shape wear. I realize that's this may be controversial but actually Kinda like it. I wore the formerly pregnant. Persons version of shape wear which is huge maternity underwear. Where which sounds very comfortable? It's like super comfortable space and it goes up. Goes all the way up. Didn't you tell me that you would like thought about wearing some sort of like like bodysuit and then you're like fuck this well okay. So I wore address from a brand called Farm Rio which learned about on busy Phillips Instagram. Busy rocks that the farmer they make really beautiful dresses like amazing prints and they had a black Friday sale and so I bought a couple of dresses. The dresses are low. Cut and one of them has an open back so from Rio also sells these body suits that you can wear under the dresses interesting so I bought a couple bodysuits. 'CAUSE I was like I'm not really like a super low cut dress person but then when I was trying on the dress which is like it was like a Kaftan style dress very low cut uniform. Thank you I put on a third love BRA that I hadn't worn since before I got pregnant but it sort sort of fits again and it's a very pretty fuchsia Bra. That kind of went with my dress and it was like peeking out not I wasn't like fully exposed does but it was kind of peeking out and I was like you know what I look good. I'm GONNA wear this without the body. Suit it also had an open back so you could like see my brow which like I historically would never do but I was like who cares and then we were walking in. There was a real housewife walking in front of us. It was STOSKOPF from vendor pumper. I think it was actually I. I think it was Aaron. What's her face went and looked up starseed's outfit and confirmed Nazi? Okay Yeah I was because I I thought I see then I thought it was the other one. Okay now. You're saying it was I looked. I like old. STODGY podcast. She was wearing. I mean to be fair. She's wearing a jeweled exposed bra. It was cool though but she was wearing an exposed for. Yeah and and then I googled. Like broad jewelry. Yeah couldn't find one if anyone has the Intel on Bras I bet she just bought a bejeweled brought like I bet that she bought it is I bet she bought a Bra. That is meant to be exposed. I liked that I thought that was kind of a cool way to like sexy up. Your Bra Strap Straw. Yeah so she did look great So yes so. I wore that dress which was like totally outside my comfort zone but I felt great and I were shoes that I bought when my book came out so that was two and a half years ago. I've hardly worn since they're like these beautiful hot pink mules these like kind of I dunno flower looking things on them. I'm not describing them very well but I got to where those and I felt good and so that was really fun. I also felt really good. I rented address from rent the runway. Yeah and I wore shoes news that I have worn like once that I've always want excuse to wear and I also felt good and I was. I went a little out of my comfort zone getting my hair kind of done up. I've been doing my eye makeup differently and it felt really fun which I think is when we talk about like beauty and beauty culture and all all the stuff like the point of any of it for me I hope is to have fun. Yes like to express full which is one of your words your yeah and that was. I felt that the whole night like I felt like we were ourselves. And we're comfortable. I don't know about you but I felt confident totally I also felt like true to myself and my style. Yes I feel the exact same really cool and also reminded me that like I'm rarely in a position anymore where I have to get dressed up for anything and that sometimes it's really fun to get dressed up.

Ulta Sally Hansen Tutu Glam Squad O'brien Conan Kevin Durant RIO Gavin Nora Mcnerney Attorney Stanton Hitler Kate Starseed Aaron
How to Repair Your Image: An Online Makeover

WSJ Tech News Briefing

06:35 min | 1 year ago

How to Repair Your Image: An Online Makeover

"When there's news about a person or company good batter ugly? It usually ends up online but new reporting from the Wall Street Journal shows that some of the wealthiest Americans have found a way to scrubbed their images online getting rid of the bad stuff and replacing it with more flattering coverage reporter. Rachel Levy of the Wall Street Journal joins us to explain. First of. We'll ritual how did you come across the story so I cover hedge funds for the Wall Street Journal and I had been researching one of the subjects. It's actually in the story and started noticing some websites that drew my interest out. I was looking on Google. And that's sort of how this began this lead you to an Austin in Texas based company called Status Labs. What exactly is the service that they're offering their clients to status labs is online reputation management company? Their external lawyer. We are sent us a letter indicating more about what they do and what they told us in what they were we have in we put in. Our story is a single false. Accusation can cause permanent damage damage to a person or a company's hard earned reputation. This imbalance of power has made the first page of Google. I and oftentimes the last impression for individuals and companies The where continued attended on to tell us that fifty five satisfied employee's US quote variety of proprietary methods which are always evolving to help clients disseminate positive and truthful information about themselves themselves online. The first part of your story deals with Jacob Gottlieb who was a hedge fund manager is used the services of status labs to scrub his image Jacob Gottlieb. The league ran a large hedge. Fund called Victim Asset Management. A few years ago. It had several issues that came up one of its money. Managers was accused of insider insider trading and died by suicide a few days after he was charged Mister Gottlieb's former brother-in-law go into legal troubles as well and his on effectively leap was forced to shut down about a year ago or a little more than a year ago he was considering raising money again for Hedge Fund and and my understanding is that last year he also hired this reputation company status laps any paid thousands of dollars to do this cracked. Did it work. As far as GOTTLIEB's attempt to rehabilitate his reputation several websites featured Mister Gottlieb. After he hired status ops so he would search for his name on Google. You would come across these websites that appeared like news outlets but we're not actual news outlets google news in particular was featuring several of these of these websites until I called and asked about them and Google news took them down. They said that several of these websites didn't meet at standards over Transparency and he also tried to rehabilitate his image in the form of highlighting his donations. His philanthropy correct so several of these articles. When you read through them the the bulk of them there are overwhelmingly positive and fathering they would tout his investment acumen his charity and in one case found on a website called Medical Daily Times? It said that he had donated to initiative. Nyu when I called NYU. They said That he actually hadn't donated to that initiative Though he had donated to other initiatives that at the school though. Interestingly when you call that website pizzeria entire onto was Was the the number that picked up. That's funny Pizzeria Rian Toronto. Yeah and then. The author of that particular article had a photo that was actually A Canadian theatre actor and then when I tried to meets the candidate theater actor has publicist told me that I had no idea. has his photo was being used. In this way Rachel talk about wikipedia. which was started by status labs co-founders because that figures into this as well so i? The CO founders of satisfieds pre ran a company called wikipedia which was banned effectively by Wikipedia by the organization that is overseeing wikipedia Several years ago and going forward and to today's status labs one of the services that they apparently have provided to some their clients. Is wikipedia edits. Now that's not a problematic history on its own But you can't go in there without their permission Kenya well. They could use a free encyclopedia so I could create an account. And and and and and edit it but I have to disclose wants me to disclose if I am working on behalf of somebody if I if somebody's paying me to edit their page I am I am supposed to under wikipedia is rules to disclose that what were some other more notable clients of. There's some fairly familiar names here. According to my reporting status ops provided added services to several notable people or companies one of them is now education. Secretary Betsy Devos. There's another large Hedge Fund Citadel L. Massive Hedge Fund On Wall Street received wikipedia edits and And also the owner of thoroughness of the defunct company. Well Theranos the company. Leave Rachel. Have you had any responses from the people that you report it on in your story namely Jacob Gottlieb Betsy Devos or theranos else so Jacob Gottlieb when I asked him about status labs. He said that he hired them to help him. Watch his new venture and then in relation to generally speaking but also to The website that featured information about him about NYU donation. That wasn't accurate. He told me nobody would make an investment based on a no-name online online blog. Although he did say that it's helped his reception on tinder the dating APP. Betsy Devos I didn't get to speak with her but her spokesperson at Advocation Department said that it doesn't sound like the Department or the secretary of a relationship with status labs and didn't respond other questions that I sent an S. for Theranos I tried reaching Elizabeth homes as attorney As well as other attorneys and I could not reach them. What's the bigger picture here? Rachel in the age of disinformation. You know this story about manipulating Google's Algorithms and wikipedia entries and essentially getting away with it despite regulatory scrutiny. What's what's your biggest takeaway from this story? My biggest takeaway is. Is that despite many efforts to make it easier for us to find information online regular information online there are still ways for websites they can masquerade as news outlets to appear online. Avoid Google's detection even appear on Google news which is a source of information for many Americans and I think I think think it raises a lot of questions Wall Street Journal reporter Rachel Levy. Thanks for joining us. Thank you for having me.

Google Status Labs Mister Gottlieb Wall Street Journal Rachel Levy Wikipedia Jacob Gottlieb Betsy Devos Rachel NYU Betsy Devos Hedge Fund Reporter Secretary Austin United States Texas Kenya Fund Manager Rian Toronto
Large Sums of Money That Maybe Transfered in the Fashion World

Pop Fashion

34:22 min | 1 year ago

Large Sums of Money That Maybe Transfered in the Fashion World

"On the line this is news that developed over the weekend. Lvmh if it goes through it'll probably be the biggest purchase ever by Lvmh to meet a total of fourteen point four billion dollars the US companies to get it LVMH has risen forty-nine percent giving it a value `tatoes compared to LVMH with its two hundred fifteen billion dollars I can't even imagine that number the show the brand has been around for one hundred eighty two years and it's not sixty dollars a share in two thousand sixteen it's Ben up at around one hundred dollars for the past biggest place for revenue as a conglomerate the US's second and pals so adding tiffany would give Lvmh more has lvmh had any failures no girl they haven't they can't might be a good move for Tiffany I think it would be a great move for Tiffany I I don't know if the impact is going to be there at such a great level it really stabilizes and helps them grow even more they've been struggling for a number of reasons they can't I'm trying to cater towards a younger audience but they haven't found their stride yet and they when you're trying to catch up with your ideal demographic like that takes some time right so do it on your own and say you did it on your own or do you want like the big brother to come in and like and even like for an art arnall cases full of money for like three other people do it just suitcases full of money they should take the deal they should take the deal we'll see we'll update you potting soil with like some of the Peat Moss in it is that what you mean right Oh yeah absolutely signed forever twenty one and things are starting to come out as more paperwork it's coming John and Jin Suk Chang they have two daughters they emigrated ended up coming back and working for the company there's Linda she was the executive vice president and in annual sales and employed forty three thousand people globally they're like actual old people I don't know elderly I don't know their lives slur management style as a significant reason the entire business collapsed give them a reality check in their headquarters in Los Angeles that top and just to give you an encapsulation of what what the problem could have it's micromanaging not seeing the big picture also it turns they had a lot of power over styles that landed in stores the home and do advising because they knew early on more than they let on that something stuff into consideration and implement it so it was just like their way man come in and be directors who had no retail experience so what they were doing this is very theranos what they were doing was like only giving it sounds awful no one knew the totality of what was going on with the business department stores. I didn't know this took over a lot of space that used to belong to borders he says we're not set to expire until twenty twenty seven and twenty twenty eight understand local labor laws. This is the big like money news that we found out stores per month girl so that's why it collapsed that's what happened expressed this Mr Chang you need to delegate Sir that is a Mr Chang the other thing is that this report any retailer not as the Chang's but it does take a little same time right it's losing steam and is losing popularity outlasting from perfectly one or they've heard about it from a friend and sell it it's very it's not that simple and so it's not just as easy as forever. I don't like you said it's not just about this narrative of fast fashion kind of slowly really implemented it became their scope would have been different their stores would have business what the family says goes and if you are not the top nobody could not sign expense reports fast enough kinds of fast no one's a delegate it so important helps you succeed because you know my one really clunky basketball analogy they voted unanimously on Tuesday the day we are recording this podcast to three separate divisions of the ANC AA and so they've all been tasked with figuring going to be the board is going to vote on those proposed change rules athletes I have a lot of restrictions around what they can and cannot do around the world When it comes to college sports those players who play for those big have a lot of our school expenses paid for by scholarships but they are duties are to time you have schools that are selling merchandise that may have for a t-shirt you might be able to find a college athlete who was here and says that per NCWA rules so this could potentially open Aa like just like snap his fingers and Saddle we're GonNa Change this so that it would no longer be illegal for students to earn money from their appearances punishing their athletes if they get endorsement money in that will start in January twenty sourced NC double a. into letting all student athletes southern names their images and their were passed in early twenty twenty it would go into effect in twenty twenty one and which is his way of saying out trust y'all yeah but how much play that pro athlete? Scott I've been watching the world series and Ashby and what they do on the field it's a lot about personality in this physical and so many pro athletes even after their off the field college sports a lot more sustainable for the student athletes that you have time for it but like the fact that you can't make any income while you're right apply the decision. I mean at the very least I think you should own the rights to your own ms how if people decide to delay going professional so that's really interesting to me Oh delaying going pro is such has a lot of potential to be a good athlete right now like I think a lot in four years or three years and and who knows what's going to happen to my career then to go pro and see what items come out I wanna see that fashion for that Shit I will buy all the stuff from the Maryland basketball team endorsements for whatever other sports news I dig up and shove into this show you inject oh it is your favorite subject within the song girl Yeah Apor so many things just ran through my head in the first thing I thought of was alligator baby alligators Milano orders a lot from Sephora and the past year she spent over five thousand ah find a dollar bill and it's folded really really well and then there's a straw aw there wasn't I will continue of a Sephora worker in the package and originated issued an apology one hundred dollars an online credit and she and and that Sephora has zero tolerance policy around illegal inside that box I can think of is that now former wjr like them having their ide- and that stuff shipped out okay so that was my first thought was that somebody got fed up or drop weekly I think it is a possibility and is a little convenient act also like who drops cocaine that's why I don't buy questions about the the state of the coq sounds like Sephora emailed her back yes if you worked at Sephora not give me an apology that's one thing I actually wish I would have gotten but she was like it's okay comment but like a personal touch would be really nice in this situation but orange objects or just on your teeth to see to see swish wine and then spit it don't you don't spit after you rub the coke on your yeah I've seen on TV up until this point lies Somali Yep one last story Swatch isn't going to renew their license with Calvin Klein so their parent company is called Swatch group they decided not to make watches or jewelry under Kwan's they are going to renew the collaborations because of uncertainty they are ending this program so what I'm interested in the story is not then tell us you know maybe that the deal was just they've just yeah we talked about this probably about six months ago like a lot a lot of turmoil. I will keep that in mind that the end of our fashion news we've not do listener letters isn't podcast it is the best part of my Friday commute home all my husband works for trek of sustainability came up my husband was horrified when the shoe company said trainable manufacturing or business practices is real or just marketing for the business it is get out of pain K. Vim Bar v. e. m. as a man heard because I'd like to tell that story it's appalling act together because it's the right thing to do that's he is hat men if there was a certain company name attached to it we may have to have a discussion but hi. I'm a new listener just discovered you guys a few months ago and I've been obsessed do you have any advice for me I'd love to get your insight in any advice you could have for a Newbie in lead you can't size up the other person don't know who you're dealing with you don't have body language you don't aw but I think the best thing you can do is learn a little bit about the company research on the company if you know who's interviewing you do a quick Google search just to kind of he's tried to write down like one or two things that are important to me that I would like to convey dead one of the big things that I wanted to convey was that I was like a team believing your knowledge base you being you as like the best thing you can do because it'll make you fit for your career is good fit for your interests and your values so don't hello you're not getting out now we got you sorry best pop fashion or on instagram at pop fashion podcast the Nouveau Tart with a splash of salted caramel With cinnamon toast and I'm not even sorry those toppings are incredible I have two product recommendations but I is Laurie Al Paris and I've really enjoyed this product it's not like a silver bullet product meeting like today it was less than five dollars it is a great product for that price point me a little bit of body which I really enjoy so it was just a nice delight my second product really quick is maybelline's superstate ink even that's the name of the color this particular line the is ink crayons awfully you could talk a bunch you could do bubble gum it will stay on that's kind of what I've gathered but it's been quite enjoyable I audited on your age even now Carne is slightly older than I am but like like nothing Just a question tell us about your eyesight we WanNa know discounts and have a good week this week. How good bye yeah?

Lvmh Tiffany Mr Chang Sephora United States Jin Suk Chang Peat Moss Executive Vice President Basketball ANC Los Angeles The Shoe Company BEN Google Linda Maryland Swatch Nouveau Tart John
Play Times Over for D&B

MarketFoolery

12:18 min | 2 years ago

Play Times Over for D&B

"Seth Jason thanks for being here. I'm in my full don't run me over callers with my greasy sweaty guy who biked in a look. So for those of you who can't see me look for the video, that's, that's almost ever this is. Yeah. This is when the people are like, no we're happy that it's an audio podcast, we're thrilled. We don't need. We don't need to see you in the bright, orange biking shirt. I don't even have a handsome voice. Nice speaking voice. Let's move along. We've got we've got a bunch of news. And we're going to we're going to preview some earnings that are coming after the closing bell. Let's start with Dave, and Buster's, though, because first quarter profits came in lower than expected. And that's actually the first time in five years, that's happened for them. Shares of Dave and Buster's are down more than twenty percent this morning. I know they lowered guidance how much did they lower it? I mean they didn't they didn't miss by something. It wasn't a whole much that full year guidance to and they missed by a penny or something. But people are freaking out. I think once you've set up the expectation that you're going to do better than than people. Expect all the time than the minute, you don't all heck breaks loose. Hey, I on a stock that's done fifty percent or something. And he's a very clever tech company. So if you really want to know how to lose money come to me twenty twenty some percent and a day or a week, nothing but Dave and Buster's to me is one of those businesses seems odd to me that sort of still exists because you've. You've so much restaurant competition. And then you on game and food. I mean how is everybody not at home? Getting door dash food delivered while they play eight packs legends on their on their XBox. Can I answer that because you don't always want sixty your friends coming over to do that? You sometimes you just want to get out of the house. I suppose a comp comp suggests that the a slightly slightly negative flat. People aren't all add excited at least the last quarter, or so they've been getting a little growth over the years by opening new locations. The margins I was like, in the margin been kind of creeping downward for several years now. So this is not my idea of a super awesome, opportunity that free cash flow isn't really there. So unfortunately, you know, sitting there at a price earnings ratio of seventeen sounds like a bargain today. But I think it might need to be more of a bargain before it's a before it's a real deal. Glad you mentioned the cops because that was one of the things that leaped out at me when I was looking at this quarter was that they're, they're comps really. Aren't that great? The new locations. And by definition for those who are new to this podcast or new investing. When we talk about comps, same store sales by definition. Those are locations that have been open for at least a year, the new location. I mean, this, this is one of those things that is maybe not a red flag. But maybe it's a pink flag. Not just for Dave and Buster's. But for any, whether it's a grocery store, just a basic retail operation, or in this case, Dave and busters where it is a little bit of a pink flag where you go wait. So the new locations, there's the initial excitement. Dave and Buster's has opened up in your town or your city or whatever it's like, oh, let's go there. But if they can't sustain those people, and I'm wondering how much of the gross margins creeping down has to do with an increased marketing spent because it does seem like they are doing a lot of promotional stuff. Yeah. While the margin I mean, all the margins are on the way down. So I mean their food prices were going up for a while. And then we had labour and other costs going up. So, but a lot of restaurants are experienced. It's just plain old competition. You have to match prices or in, in some way or another, to bring people in the door. One of I guess, one of the challenges, I would guess, exists for Dave and Buster's is hey, it's a it's super small location without much stuff in it, right. No, it's, it's not it's a place where you play stuff. So it's not like cranking out another one of those poll as with the wrought iron furniture made out of black pipe from from the, the plumbing store. It probably costs, a little more money to build these locations, if they're not paying back so quickly. Your financial start to their other way. So I think on the plus side over the next couple of years, Dave and Buster's to the extent that they're looking open up new locations. We'll probably have more options as commercial real estate continues to face some challenges on the flip side, whenever the conversation turns to well, we think of recession is coming next year or two. You know, when I think about stocks that are recession proof, Dave and Buster's. It's at the other end of the spectrum, this is this is a business. That's done. Well for a bunch of years, but it seems like one of the ultimate discretionary income stocks. Yeah. I guess we'll find out someday. I'll predicting recessions has been a bad business. Yes. In a while. So the fact that the stock is at a two and a half year low, you're not looking at this ain't no. Yeah. By on this dip now. Yeah, I got I got a long history with with value, finger, quotes value stocks like this, that continue becoming more, and more of a value, but less and less of a value, if you know what I mean. Tesla had its annual shareholder meeting on Tuesday. Shares were up briefly this morning in part because Alon musk made comments at the meetings at the meeting. He said he say anything positive. Well, I can hardly imagine, you know what? Let's, let's be clear if he's not any CEO, who's not saying positive things that their shareholder meeting is doing a bad job of being the c. So I don't knock him for that. He said, among other things, it won't be long before we have a four hundred mile range car talked about in twenty twenty Tessa drivers will be able to use self driving features without intervention. I it seems like you just look at the stock chart today, there was some initial enthusiasm stock. Doc was briefly it's now down a couple of percents of problem. If you if you say things that don't turn out to be true often enough, sometimes people stopped believing you it was more than two years ago that Elon Musk promised us that you'd be able to sleep in your tesla while at drove across the country. And everyone believed it then, and then, you know that never happened, and then he kinda dials things back and then a couple of months ago, he doubt things if he said, four sure there will be a million robo tesla robo taxes on the road, you'd be stupid, not to buy any other car, which is just laughable. I mean, consumer reports a couple of weeks later rated autopilot, as dangerous and more difficult to drive with than just driving yourself because it was so erotic. And now we have a couple of months after that autonomy day, which to me, seemed like a smokescreen designed entirely to try to shift, the sentiment of the, the company away from financials and towards, you know, hey, we're going to become an Uber competitor and now. Now, a sort of walking things back and saying self driving without user intervention. But also at the same time supervised robo taxi, which, by the way like Waymo is doing that right now in that exists in other forms? And he just makes these promises that don't match up that don't line up with the reality of what other self driving car leaders are saying and what they're doing. This is a really difficult task and it's not just a matter of getting a couple hundred thousand or a couple of million more miles. There's real diminishing returns for machine learning for doing this, and they have not cracked, this not yet in Tesla's doing it with more. Limited hardware than other companies is nobody else trying to do it their way, which tesla true believers would say, well, that just shows a genius. Mosque is I tend to think that if he's the only one doing it this way, and all these other really smart people are seeing you probably can't do it that way that he's probably the one who has it wrong. So very interesting shareholder meeting. There were some other comments that stood out. To me, Tesla's shareholders are obsessed with the idea that there of being victims. They love this idea that they're victims of a media conspiracy, which is hilarious because they are the, the beneficiaries of so much media incredulity for years. I mean nobody nobody looked at mosque and said, can you really do all those things until recently, now, of course they don't like it. I one of the remarks of something about, you know, it's crazy. The media talks about you is if you're about to go bankrupt, and he says, you know, of course, we're not that's just insane. Except not too long ago, everyone thought they would need to do that. They were running on a cash and must claim they weren't. And then after they had a quarter or they got some free cash flow. He came out and said, yeah, we were only a couple of weeks away from running out of cash. So they wanna have it both ways. It's really nutty. And to me, it's the kind of stock where I wouldn't take a real position in it either way. Because on the one hand you have a CEO who's very comfortable saying things that are not true. And you have a lot of other executives leaving the company probably related to that on the other hand, you have this rabid shareholder fan base. That makes the stock whip Cy it's completely detached from fundamentals. It's all about this crazy personality, not for me. You just reminded me of. The Alex give new documentary that was on HBO and for for those who haven't seen it. It's a it's a fabulous bit of documentary filmmaking about theranos, and Elizabeth homes. And one of the things that. Was noteworthy to me in that was the opening of the documentary. That was a decent bit of information about Thomas, Edison, and sort of, you know, sort of tracing the line of the Silicon Valley, fake to you make it mentality back to Thomas Edison, and saying, you know, Edison did a fair amount of that. Like, there's, you know and, and, and that's, that's a tried and true practice that, you know, didn't didn't start with Elizabeth homes. It didn't start with the Elon Musk. And you know that, that kind of thing goes on all that being said they report earnings second quarter report is scheduled to come at the end of July. It really seems like on the times when tesla has come out with, like a legitimately, encouraging slash great earnings report. A lot of that other stuff just disappear. So and by the way, I'm like you, I don't own shares. I would never know millionaire short stock. I'm on the sidelines just watching all of this play out Noddy and. I just sort of think, to myself. Well, you know, no one ever gotten trouble for walking up to bat and hitting home run. And if they don't, if they come out at the end of July and have some blog quarter, and that, then that helps. Well, of course you have to do it. Yeah, but, you know, the miracle quarter was it was to a large degree, and it wasn't really spoken about at the time. The cash flow quarter was was a artifact of really massaging working capital and calling in some favors. And so you wonder can actually keep doing that. They raised money following the miracle quarter because they needed it. So the suggests that they couldn't keep doing that. It's not easy to build cars. It's not easy to build cars, and you also tell everyone you're going to build self driving electric trucks and all of this other stuff. So maybe they pull it off. I really hope the industry goes, but they have a lot more competition, coming from all the other manufacturers, and those manufacturers are not stupid. If you're looking at a higher for your small business naturally want to find the best person for the job. And the odds are that, that person is on linked in and Lincoln jobs makes it easy to get matched. With quality candidates who make the most sense for your role, people come to linked in everyday to learn and advance their career. So Lincoln understands what they're interested in and what they're looking for. And that means when you use Lincoln jobs to hire someone you're matches are based on a lot more than just a resume. You're linked in job. Matches are based on skills, and background, of course, court, you want, you want skilled people, of course, you want skilled, people working your small business, but they also match up on interest activities. Passions is definitely worth checking out, so post job. Today, Lincoln dot com slash will and get fifty dollars off your first job post, what you do with that fifty dollars. You do whatever you want with that you can go to Dave and Buster's. Yeah, go out, you know, have a nice meal. Do whatever you want by by sheriff, some stock here. Yeah. We all sorts ideas for that fifty bucks. We're not here to tell you what to do with that. Tell us where you could send it

Dave Buster Tesla Biking CEO Alon Musk Seth Jason Elon Musk Thomas Edison Lincoln Dot Lincoln DOC Waymo Edison HBO Alex
The Importance of Rest and Recovery

Daily Sales Tips

04:21 min | 2 years ago

The Importance of Rest and Recovery

"Might tips are as much for me as they are for you. And may involve some more thinking out loud, especially after how much the conversation prompted by my reach versus relationships piece on Lincoln has helped Volve some of my thinking. So today, I thought I'd talk a bit about rest and recovery. It was John Clegg. The former Olympian turned medical device sales rep who I interviewed on sale success stories who really got me thinking about this after he talked about how much he prioritizes recovery in his own approach personally. I've sort of a macro and micro issue going on. So from a macro perspective. It's looking like, I probably won't get my first vacation until close to the halfway point in the year. Spring break from my kids this year happened to be the same week. As the biggest conference of the year for my company where typically managing conversations and other interactions with over half of my clients. So I sent them to Harry Potter world in Orlando while I went to work in Las Vegas, and yes that was the Vegas trip where I got sick afterwards and lost my voice, then on a micro level. This week was one of those crazy travel weeks. The trip to Vancouver was super productive. But according to my fit bit I slept for three hours and fifteen minutes on Tuesday, four hours and fifteen minutes on Wednesday and five hours eight minutes on Thursday. And then to add insult to injury. Waking up at two forty five AM to catch a six fifteen AM international flight home wasn't a lot of fun after all of that. So personally, I'm looking for a bit of reprieve sleep is probably the first thing I need to work on. So I'm looking at really backing off of my us. Four thirty AM wake up time for a week or two just to make sure I get back into that seven or eight hours of sleep zone where I perform best, unfortunately, that's probably going to have to wait another week because my travel schedule next week has me spending a bit of time on both coasts. So tomorrow. I'm actually going to delve into the travel side of things. So these tips will probably go together pretty nicely. The other thing that's fallen off a bit for me is exercise not completely and mostly that's because of the travel, and because my default exercise right now is my peleton that bike doesn't exactly fit into my carry on. And I really haven't been doing anything else on the road lately. So you wouldn't think that exercise fits into the rest and recovery category? But for me, totally does I find I'm way more sane and have significantly more energy when I make time to get a workout in and Jonah when I talked with him. It was kind of. Same thing. Right. He learned the strategy from training as an Olympian right where resting is in recovering is not exercising. But from a sales perspective exercising is a great way to to recover, maybe not rest. But again, it's that energy that comes out of it. So beyond that, I really need to find more ways to incorporate more short but restful periods into my schedule. Since a real vacation probably isn't in the cards until at least June. So one thing I've been doing. There is listening or reading more fiction. I have a tendency to read nonfiction almost exclusively. But I'm realizing that it's just causing me to think about the same stuff all the time, and I never really turn off. So apparently, I'm making the transition to fiction kind of slowly because the book, I'm finishing right now is actually nonfiction it's called bad blood, and is about the theranos and Elizabeth homes collapsed. It reads a bit. Like a thriller though. So it's a good kind of gateway drug. I also listened to old man's war which was pretty good. And if you have some great fiction recommendations, please bring them on. I am totally game right now. So I'm also thinking about experimenting with meditation for a few minutes each day as well, again, just different ideas to incorporate short recovery periods. Knowing that. I'm not going to be able to take like a full week off for a bit of

Jonah Las Vegas John Clegg Lincoln Orlando Harry Potter Volve Vancouver Elizabeth Fifteen Minutes Eight Minutes Eight Hours Three Hours Five Hours Four Hours
$1 Billion Downfall: Elizabeth Holmes and Theranos

John Williams

03:01 min | 2 years ago

$1 Billion Downfall: Elizabeth Holmes and Theranos

"By the way, I was doing my. Elizabeth Holmes voice because I watched that documentary last night. I don't know if you've done that. Have you watched that HBO documentary called the inventor out for blood and Silicon Valley, it's about the woman who was behind? She really was theranos that company that said with prick on your finger. You'll get a drop of blood and be able to test for all sorts of diseases and ailments who's going to revolutionize the world. She was the Stephen judge was the Bill gate. She was the Archimedes. I mean, she was like one of these great transformative human figures, she was a fraud. She was a sham the book about that by John Kerry, you which is referenced considerably in. The doc is really the go to source for me. There was an article in the New Yorker, the book followed that now the documentary, then a feature film, when we interview John from the Wall Street Journal about this his I think reporting telling of it was really really good. And you know, how the books are always better than the movie. This really is a classic case. And point the documentaries. Good, and she's she's bizarre. And it's it's fine. But it to me it leaves more questions unanswered than it does answer. And the big one is what was her motive was. She scam artists from the beginning. Or was she just faking it until she could make it were her intention sincere producer Griffin doesn't think that that's as critical a question at the end of the day that technology would not did not in does not work. It doesn't exist in the real world. And it was a scam. Whether she intended it to be or not, I think that's a distinction worth pursuing. But one of the really interesting parts about the documentary is that the old white men lover here. She is this twenty year old blonde with really red lipstick on and she's thin, and she wears dark turtlenecks the way Steven Jobs did and Oliver closer that way. You know, why she dresses that way? Not because she wants to emulate her hero that would be almost juvenile. But no because she's so focused on the corporation. She still living and breathing turnovers that it be easier for her to go into her closet and just grabbed the black turtleneck and put it on. That's why she does it that way. She can focus more. She's not worried about a close. She's worried about changing the world. So there's George Shultz former secretary of state, George Shultz going y'all have some and there's Mike Mattis, and there's Henry Kissinger, and there's venture capital guys. And they're all going. Well, she doesn't really know any science, and we don't know any science. But I think I'll give her one hundred million dollars and that happened Walgreens did that for crying out loud. I'm interested to see the feature film on this. If you watch the dock at least, we'll get a chance to look at her and to see the wacky -ness of it. See how thin it is. But if you want to a sort of a thicker dive on it, then read the book, which is called bad blood, bad blood is the book that you want to read if you really

Fraud Elizabeth Holmes Walgreens George Shultz HBO Silicon Valley John Kerry Wall Street Journal Bill Gate Producer Henry Kissinger Steven Jobs Griffin Mike Mattis Oliver One Hundred Million Dollars Twenty Year
A cure for cancer? Despite one company’s claims, many experts uncertain

Red Eye Radio

13:40 min | 2 years ago

A cure for cancer? Despite one company’s claims, many experts uncertain

"Well, yesterday, we told you that story that was out there where the Israeli scientists said that they believed that they have a cure for cancer all cancers, then a year where they would basically take a biopsy, and they would have the treatment specific to you as an individual, and it would be a couple of weeks treatment, and it would be affordable. And of course, we always are, you know, are healthy skeptics here. And we said we'll wait till we see some kind of response from those in the cancer community. New York posted an article Dr Ben Neill, and he was quoted by number of people yesterday from NYU their cancer center told the post had cancer is multiple diseases. And it is highly unlikely that this company is found to cure for cancer anymore that there is a single cure for infections. You said then more likely this claim is yet another in the long line of spurious irresponsible, and ultimately cruel false promises to cancer patients. He had an an Email, of course, carrying cancer is a goal of everyone who comes to work every day at the cancer center. And if this company does in fact, cure cancer, they will have my congratulations. And thanks Dr Len listened field chief medical officer of the American Cancer Society. We wondered we've figured that they probably wondered and figure though at the same time. They would probably be one of the first organizations to comment on it said in a blog Tuesday that it goes without saying that we all share the aspirational hope that they are correct. Unfortunately, we must be aware that this is far from proven as an effective treatment for people with cancer. Let alone a cure. He said the key to the success of the research is apparently the focus of this experimental treatment approach on several abnormalities in cancer cells at the same time. Limiting the ability of the cancer cell to change its genetic pattern and become resistant to typical treatments. Litchfield noted that the Israeli teams research has apparently not been published in the scientific literature where would be subject to peer review, and that was one of our questions if this group is just beginning clinical trials, they may well have some difficult experiments ahead. It is certainly possible that this approach. May work. However as experience has taught us, so many times the gap from successful mouse experiment to effective beneficial application of exciting laboratory concepts to helping cancer patients at the bedside is in fact, a long and treacherous journey filled with unforeseen and anticipated obstacles right there, you go. Yeah. And what they're what you know. I guess what you're getting at least just after the day after was announced is some of the medical community coming out insane. Prove it, and that's it. I mean, that's that's that's where that that. You know, peer review comes in. And that was my first that was the first red flag for me when that story came across. All right. Where was the rest of the medical community? How is it? If we were that if they were that close how was it? The rest of the medical community wasn't aware of that. And there wasn't some kind of chatter about that. Because there would be. That would be all over. And if you would have been it likely would have been much sooner. Would have been you know, maybe even a few years ago if not longer than this. We believe this technique is going to work one day, and we could see this. Five to move into trials five to ten years down the down the road. Well, not twelve months out. Well, the the the the one thing and you brought up the was there knows which was different case than than this. Because even the you've got these medical professionals use cancer specialist saying, okay, we see we think we see where they're going. Was it the same with well there there was they were scrutinizing. It was you know, the Wall Street Journal that really undid the whole theranos thing. They there was it was the same approach though. It was the same response by the medical community, essentially show show us, you know, show us that this was going to work, and of course, when they got into it. The Wall Street Journal was maligned, of course, by the by the company, you had household names. And prominent people sitting on the board of theranos, and at that point, the founder became, you know, a billionaire at some point she was worth nine billion or something like that. But when the Wall Street Journal broke down. Everything started falling apart. Then you're deal with the drug stores and everything else started falling apart. But the medical community was was basically saying the same thing they're saying here. Yeah, you're going to have to show us. And the problem was is that they actually had people that they were doing blood tests on. Which of course, got false results. Well, I mean, the the concern is if you're a private entity that you're always trying to get private investment. And so you give out as much optimism as possible. If you're doing it if you're trying to do both get know legit investors that may get a return on their investment. And at the same time wanna promoted as being credible, which would help you in both. That's where you need peer review. I would think I I would think along the process. Okay. We've got to step one. Here's what we've done you put that up for peer review, people say, okay? That's a great start. You know, where do you go from here? You know, what what what's the next step while we done this? And we believe the next step would be that. And then you get peer review, stating, you know, from many doctors or many of the best cancer specialist. This looks like they're on the right path. And you move it. You just don't go from nothing to we believe we have a cure for cancer, right right with you don't get to that point of saying, we have a cure for cancer without having something or a large body of evidence of your research that has already been put out to peer review. That's how I would think it would it would suppose to would supposed to go. Yeah. I mean, you had the second in command there at the at the theranos that was essentially fired for questioning their methodology and what they were doing. So that kind of some of that came from you know, internally, and that's how it works. They were claiming that you could do this extensive blood tests dot with a small amount of blood. And and you know, that's that would have been a big deal that would have been revolutionary had it been true. But it's not you can't change, those dynamics. At least the technology's not there right now to to change that. And it never was for for theranos. Not even close, and you know, one day, they'll get to a a cancer cure. I believe I don't know if it's going to be in our lifetime. But when a company is claiming twelve months. Sorry instant red flag. Instant red flag. Yeah. I mean, that's. Oh, somebody said, well, a cassock or said, so twelve years. No, let's go twelve months. No, I bet if you said we believe in five years would be able to have it out. But when you throw out something, and that's when you know you and I when we were even talking about an appreciable meeting before we went on the air. We said. This seems to have everything right everything that you would want from a cure. Much more affordable will be ready in a year. And then we thought even reading the article well. Not really even what they're talking about is by the time, you have trials in might be available in some cases, you know, in a few years, but the even the headline stating that would be available in a year. Well, not really, and then we just said, you know, there's so much, you know, when you start talking about cancer and the different types of cancer, and you know, and and the u mutation of the the the the cells, and and and the tremendous amount of research has been done that you would just think that if you thought it was legit and really legit. You would put a ton of research up of what you were doing for peer review. So when you announced it you had legit. You know, totally you had totally legit backing for investors to come in and make this thing ago, right? Well, global big pharma would have been pouring money into this. I mean, they already are pouring money into a ton of things a research and development on on any given treatment. Or or drug is is massive. It's it's extremely expensive. But something like this. If they were that close certainly would have been a huge target for them. It would it would change the world. And I it's going to be interesting to see the response from the Israeli scientists and from this company over the next couple of days, stating that's one thing that I didn't even see in the article we plan to put all this out to peer review, right, right? Or this will be going out. We're going to be putting it in this medical partners that are working with us. And because that's what you would want. An and we we are bringing. We're we're going to bring in the in the different cancers of the American Cancer Society, we want we want the CDC we want major universities to be checking what we're doing here because we think we now unless they're worried about the patent. Is that the experience that they would get? Sure, we don't want somebody stealing our technology. One. Fortunately, you've got to put it up for peer review. Otherwise, it really doesn't mean much. I remember I can still remember when people the whole thing. People going to Mexico going back twenty five years ago for for lateral. And I can still remember because I was beginning to my talk radio career people. Tell me all your part of the establishment will no I wouldn't do it because it's not there's nothing proven y'all. See your against alternative medicine. Oh, yeah. I guess we with the same thing has been set about you know, when we've criticized the fact that public opinion sh- shouldn't be the leader of same. The pot is medicine. That should come from science strictly come from science. And not from public opinion, which had which it has. And now, you see it every day, you see more articles coming up from the medical community stating look at what was the article the other day was of watt. Forgot who had it. It said look pots not medicine. Stop it. It could alleviate some symptoms. But so can a ton of new drugs that have come out in the last five years, and a lot of people that are promoting the, you know, medical marijuana are ignoring the new chemicals that have been up the last and the new medicines throughout the last five years for nausea pain and everything else. I'll even on the the if you're going to do a homeopathic approach than you. You still have other alternatives. But that's far from calling it medicine, even if it helps with certain symptoms. And and leave that up to science leave that up to the scientific community, which maybe they'll get there again. I mean, if increasing the appetite for cancer patient or an aids patient, absolutely great fine. But again, that's that's far from calling it medicine. From it actually being medicine. So it'll be interesting to see what happens over the next week on this because this is something if you're the company Israeli company you'd want to be promoting this every single day right now. Look, we invite the skeptics to look at our research. Well, we're we're we're gonna we're gonna be post we want peer review on the science behind. You know, what what we're doing here? And why we believe it's going to work. We brought these organizations and we brought the American can we want people to see this because this would be one of the biggest breakthroughs in medicine ever. And we think we're on the right path. That's exactly what I thought. You know, you could see in a in a theranos or any other research company if it would have been about the research. Yeah. This is what we believe. We'll get to a point at some point. With this technology that you can walk into a drugstore and get a comprehensive blood test and not have to give a vial or to a blood in order to get it done. I think you would still have investors on board that say, okay, what first of all show us which direction you're you're headed. And why? But it wasn't about that. It was according to authorities. It was it was fraud.

Cancer Cure American Cancer Society The Wall Street Journal Dr Ben Neill New York Medical Officer Litchfield Dr Len NYU Fraud Founder Mexico CDC Nausea Marijuana Twelve Months Five Years One Day Twenty Five Years
"theranos" Discussed on KFI AM 640

KFI AM 640

08:09 min | 3 years ago

"theranos" Discussed on KFI AM 640

"Trending stories. Trending right now on social media. Good ones out there. Also, we'll get into the story about what not to do or should say, what's legal, and what's not legal to do with the dying beaver. The last time we talked about theranos. It was when criminal charges were filed against a lucrative. Sorry. Before you go on just the background on theranos born on Saturn's moons titan as mentor, sweet San his brother is EROs of titan. Also known as star, FOX. That's that's fantas-. This is theranos the blood testing startup in Silicon Valley theranos there. No, scott. I'm okay. Nick, type it up from federal prosecutors filed criminal charges against the founder, Elizabeth homes and the number two executive who she was involved with as well alleging that they had defrauded investors out of hundreds of millions of dollars defrauded doctors and patients now we have talked about the need for some magical thinking that has to go on instill Akon valley when you're the head of a startup you have to think that your startup is bigger and better than it is you have to look into the future you have to think about what could possibly happen and all of that up. But they were just lying to people. They were just selling a the wrong bag of goods here. It was a unicorn tears that they were selling and unicorns. Don't cry. Exactly. Yeah. So it's mythological, right? Okay. So there the the acting chief general council says theranos is formally dissolving. They have no choice, but to shut down all of this is the deal because they cannot get anybody to come in and buy anything that has anything to do with their us. They know how tainted it is. And how hollow accompanied actually there were massive big name investors that got on board with this thing from go, and they're gonna get nothing. They've lost nearly a billion dollars. This was known speaking of unicorns as a unicorn in Silicon Valley a billion dollar start up basically overnight, and it was because Elizabeth Holmes was able to to to get these big names on board. She and her ex boyfriend guy by name is Sonny remiss Ramesh is his name because by sunny Wani indicted on nine counts of wire fraud, two counts of conspiracy to. Mitt wire fraud, he was her president CEO until he retired from the company if they're convicted they each face a MAC maximum sentence of twenty years in prison and a quarter million dollar fine. Plus restitution, it's an amazing thing that even though this was this turned out to be a giant nothing burger. I mean in terms of it was all fake, it still takes a long time to unwind all of the financials of this thing because you think about it. She got one one point four one point five billion dollars from investors mostly outside of Silicon Valley. And I mean, huge names boss, the Walton Rupert Murdoch. I mean, and then we saw the valuation of the company rise to more than nine billion dollars. She herself Elizabeth Holmes saw her net worth skyrocket to about four and a half billion with a B. I mean, it's ridiculous. How much money was involved here? She is such a fascinating person. Elizabeth homes is dropped out of Stanford to claim that she had invented this groundbreaking new technology that could run the full range of lab tests on just a drop or two of blood pressure. From a finger thing about how much money that would save in the medical industry. If that was a real thing. She was so adamant that this technology was in existence, and that it was ready to go and ready to be rolled out in a widespread way that. Walgreens, Walgreens was going to start using this. She was compared to Steve Jobs a lot because she would wear those black turtlenecks. And Walgreens says even it was completely snowed. It I thought that that these machines were ready to go, and we're going to put in all their stores in California and Arizona, stuffed technology didn't exist. Well, and you think about it. If you it it's a it's a weird phenomenon where you get just enough name recognition. You get just just the right people involved with it, and no one will question your credibility. Absolutely. So when you've got names like Murdoch and Walton and DeVos all of these names associated with boys, even George Shultz, the former secretary states name was connected to all of this as as one of the directors. I think that you if your Walgreens you see this list of big time investors in you think to yourself. Well, we don't have to spend a lot of time looking into it. Because obviously they've done their homework who are Schultz. He was old when I saw him at I think Arnold Schwarzenegger's. A swearing in ceremony in Sacramento has gotta be he's gotta be a hundred years old. How old is George? He's ninety seven Rigo go you rounded up a little bit. But it was perfect. But all of that money. I mentioned the nine billion dollar valuation for the company for theranos the four and a half billion dollar net worth for Elizabeth homes. So they're attempting to work out a settlement that would give the private equity firm fortress ownership of all of the patents. That theranos has whether they're actually they are functioning or not, and then would leave the remaining five million dollars in cash to pay off investors. This was a nine billion with a B nine billion dollar company, and they're left with basically what amounts to pocket change to pay off their investors and all of this agreement working all of this out could potentially take another calendar year to be finalized. You can see why big names would would get involved with this. Will it doesn't seem it. The thing is it seems close enough to reality that it would be believable that we are so far technology. Advanced we may be on the cusp of being able to test for a billion different disorders and diseases and problems with one little drop of blood or we're not there yet. But it's close enough that you could imagine it, and you can believe it. So they apparently did the majority of their blood tests using. Know commercial analysers from other countries. Other companies gives me, you know, they didn't even use whatever the prototype. They were working up to test the blood to show the results to people ashes that's just fraud right there. All right coming up next. Speaking of fried goop a lot of fraud going on with goop. I mean, how much for these eggs that people were were were putting in fifty sixty bucks, right? What were they supposed to do it? Tighten up your stop right there. Coupe and the scandal when we return little you. But I like it. As an update on tropical depression. Gordon has weakened inland after making landfall as a tropical storm overnight near the Alabama Mississippi border, the National Hurricane Center has Gordon about five miles west of Jackson Mississippi. Jury selection starts today for the trial of a white Chicago police officer who shot and killed a black teenager in two thousand fourteen Amazon is ordering twenty thousand delivery vans for Mercedes Benz the online retail giant plans to make the new tech vans. Available to independent contractors under Amazon's delivery service partner program. Trouble on the five page dean sharp, it's been another summer of record temperatures, and you have been putting off going solar. Now, those big power bills are coming home to roost, and you're starting to panic will don't because it's not.

Elizabeth Holmes Walgreens Silicon Valley theranos Rupert Murdoch George Shultz wire fraud Amazon San fraud FOX Arnold Schwarzenegger Steve Jobs Gordon Sonny remiss Ramesh Wani acting chief
"theranos" Discussed on WSJ What's News

WSJ What's News

03:01 min | 3 years ago

"theranos" Discussed on WSJ What's News

"She was charged with wire fraud back in June along with her former boyfriend, sunny by Wani, who's the x. number two at theranos and they both had to post half million dollar bail and relinquish their passports. And so they're out on bail and they're carrying their defense. She is hired a lawyers from the law firm Williams and Connolly and the discovery process has begun. The government has handed over its evidence in the form of a two terabyte hard drive to Elizabeth and her attorneys to give you an idea of how much that evidence that represents most. I'm MAC computers that you buy off the shelf now on cavalier Cavaliers, one terabytes of hard drive. So two terabytes is quite a bit of storage. Space, and it suggests that the the evidence that the government has gathered for this criminal case is voluminous John in reflecting on covering the story for several years. They're all of these ups and downs and surprises. And now finally, the company's dissolution, what have you learned? What's the lesson to be learned from theranos? What's the company's place in Silicon Valley history? Right? So if you if you think about Silicon Valley, which by the way is is a construct that is existed only for about forty or fifty years. It's an industry in a part of the country that has been focused on computers and software. It started out with microprocessors in the fifties and sixties and then gave way to the personal computer revolution in the eighties, and then the internet revolution in the nineties. And today we're at the stage where there are smartphone apps and we have smartphones. But until recently, this was not an industry that was going beyond computer hardware and software. Now it is now it's getting into. Self driving cars. It's getting into smart homes and it's getting into medicine. And if anything, if there's any lesson to be drawn from theranos scandal, it's that you can't really apply their noses fast and loose business ethics and business ethos to the Ramlet medicine. Because you know, they aware that old Silicon Valley term for software that that got announced, then either never got delivered or not delivered and versions that fell far short of what was promised. Naper wear doesn't work in medicine and medicine when you release a product, it has to work because patient lives are at stake. And theranos unfortunately did not heed that, and the result has been this enormous scandal that's Wall Street Journal. Investigative reporter, John Kerry ru, joining us via Skype to talk about the dissolution of blood testing company. Theranos John. Thank you so much for joining us. Thanks for having me, and that's what's news. I'm Anne Marie for totally in New York for the Wall Street Journal. Enjoy the what's news podcast. Then try the what's news newsletter. Sign up at w. s. j. dot com slash newsletters. That's w s j dot com. Slash newsletters..

theranos cavalier Cavaliers Wall Street Journal Silicon Valley John Kerry Wani wire fraud Elizabeth John Anne Marie Naper Williams Investigative reporter Connolly w. s. New York Skype
"theranos" Discussed on WSJ What's News

WSJ What's News

04:13 min | 3 years ago

"theranos" Discussed on WSJ What's News

"Scandal-scarred blood testing company theranos is dissolving. The company wants a Silicon Valley darling said in an E mail to shareholders this week that it will pay its remaining unsecured creditors in the coming months. Joining us now via Skype is Wall Street Journal. Investigative reporter, John Kerry ru author of the book about theranos bad blood secrets and lies in a Silicon Valley startup. John, you've been covering theranos for several years in their of certainly been a lot of surprises along the way. Was this letter about the company's dissolution, something you were expecting out? She if anything? I was expecting it earlier in the summer, and I think that the reason it took so long as in the last few months, there was actually very careful about its cash consumption, but it it finally, essentially run out, ran out or or came close to running out. I think it has a few million dollars left in the Bank and it's fallen below the cash threshold that it needed to keep above as part of its. Loan agreement with fortress investment group, which is a New York, private equity firm that had lent, there are no sixty five million dollars last year to keep it afloat. And as part of that loan agreement thoroughness was was supposed to keep a certain amount of cash in the Bank and it's fallen below that threshold. So now fortresses entitled to basically claim all the company's assets and what about the investors who poured millions into theranos they get nothing and and I would add it. They didn't just four millions, they poured a collectively hundreds of millions. It's actually the number of the total numbers close to a million dollars. Wow. And John, as you know, this is really incredible story, and if you can, although it's difficult to sum this up briefly, the company's extraordinary rise from a Silicon Valley start up to the reveal that it was a giant fraud up to now it's downfall, right? I mean, so theranos was a diagnostic startup started by Elizabeth homes back in two thousand three when she was nineteen years old and she was a sophomore at Stanford. She dropped out of Stanford. She had this vision for a portable blood. Testing device that would do all the lead tests known the man off tiny samples of blood pressure from finger, and she went about raising money in in several rounds and hiring people and trying to pursue this vision. And I don't think that she started out with the intent of defrauding investors and putting patients in harm's way. But over the years she encountered setbacks because science in medical science in particular is hard, and she didn't acknowledge those setbacks at least acknowledge them to investors or to her board of directors, or really to anyone to the retail partners that she enlisted such as Walgreens, and she pretended that she had a cheat what she claimed who have achieved and in two thousand thirteen to fall, two thousand thirteen. She went live with theranos is supposedly innovative thing or snick tests in Walgreens stores in California, Arizona. And as a result, consumers of met point on where were put in palms way because the thoroughness blood tests were not reliable. And I came along in two thousand fifteen and did a along investigation. It was finally published in October of that year that revealed that the the one device their nose was using proprietary was not reliable. And that really fairness was using conventional machines for most of its blood tests, and it had hacked those conventional machines to try to that them to small samples. And one of the the steps they took was to dilute the blood to create more volume in these cups that they would put in the in the conventional machines. And this delusion step created a lot of room for error in the end. This is a company that had to void close to a million blood test results and has frauded investors of more than seven hundred million dollars because most of the money that they're in us raise actually tame after the company went live with. It's finger stick tests. When you're told investors that had had succeeded in creating its technology in the proof of that success was was that in had gone live with the finger, stick tests in. Alright stores, John. What about Elizabeth homes, the charismatic founder of theranos. What do we know about what she's doing? Amid all this? We know she settled charges from the securities and Exchange Commission, but she's still under criminal investigation. That's right..

theranos John Kerry securities and Exchange Commis Wall Street Journal Walgreens Investigative reporter Skype fortress investment group Stanford New York Elizabeth John fraud founder California Arizona
Embattled blood-testing firm Theranos to dissolve: WSJ

Midday on WNYC

00:28 sec | 3 years ago

Embattled blood-testing firm Theranos to dissolve: WSJ

"Live from NPR news in Washington, I'm Lakshmi Singh. The judge presiding over the upcoming trial of President Trump's former campaign chairman Paul Manafort is rejecting the defense's motion to move the case out of Washington. DC NPR's Carrie Johnson reports the judge says there's no evidence at a fair. Jerry cannot be found in the district of Columbia lawyers for former Trump campaign chairman, Paul Manafort, Hannah's asked to move the trial to Roanoke Virginia where they said, a more politically conservative jury could be

Washington Dc Npr Paul Manafort Chairman Carrie Johnson NPR Paul Ryan Senate Judiciary Committee Johnston Npr Fraud President Trump Senate Windsor Lakshmi Singh Rick Gates Senate Judiciary Amy Berman Jackson Wall Street Journal Theranos Paula Alto
"theranos" Discussed on Stay Tuned with Preet

Stay Tuned with Preet

04:18 min | 3 years ago

"theranos" Discussed on Stay Tuned with Preet

"Schultz was another one of my confidential sources as it turned out. He's George Shultz grandson and George was on the board of of theranos. So it was this strange situation where one of my confidential sources was the grandson of a famous board member Tyler went dark on me before we publish the first story at no idea what was happening. I suspected they were putting the screws to him. And what I learned later is that they ambushed him. They meaning to attorneys for boys Schiller flexner ambushed, him and his. Father's house. And do you think that the lawyers representing theranos based on your interactions and your reporting behave unethically in any way? I believe that they crossed lines. I thought that one guy in particular named Mike Brill who is an associate of David voices at Bush Schiller flexner the way he behaved toward Tyler Scholtz was thuggish. He hit upstairs along with another lawyer at George Shultz his house waiting for Tyler show up and Tyler had agreed to meet his grandfather under the understanding that they would meet face to face in. There would be no lawyers involved a few minutes after you arrived. The these boys Schiller turn his mic. Brill among them showed up, you know, browbeat him and tried to get him to admit. He was a source of mine and tried to get him the sign these papers and threatened him. This went on for months, Tyler had to hire lawyers. You know, I'm told that at one point, Mike Brill threatened to thank rock Tyler's entire family. If. He didn't sign the latest version of the athletes. And one interesting aspect of this is the boys firm in, I believe you wrote this in lieu of fees, typical legal fees, right? Took stock in the company. Yeah, and that's something that I learned later as well or at least after my first story was published that during the fuse patent litigation, the boys firm had been paid for its work in that litigation entirely in stock. And as a result, they had almost five million dollars worth of theranos stock. So by the time I came along and David boies was trying to convince the journal not to publish my story and was representing theranos effectively against me in the journal. He was not only a legal advocate for the company. He also had a financial stake in the company and to me, that was a conflict of interest when when I learned of it, not to mention the fact that ten days after my first story was published, he joined the board the board, right? Which compounded the conflicts of. Interests and people not only rose, strongly worded letters and try to get people to stop by. You know, these methods described. They also went straight to the top to Rupert Murdoch, right? Who simultaneously was the head of the parent company that owns your paper, your employer, the Wall Street Journal and also had made a one hundred twenty five million dollar investment in theranos for how did that turn out when I started looking in theranos in February two thousand fifteen. I did not know this, but basically at the same moment, Rupert Murdoch, who has you say owns and controls News Corporation, which is the parent of the journal was putting one hundred twenty five million dollars into fairness becoming its single biggest investor. I had no idea, nor did he have any idea. I think that that I was beginning to to dig into the company, but he was asked to kill the story later later. So in he'd and obviously you're here. He did not. He did not. Yet Elizabeth homes met with him. About four times before four or five times before that first story was published in October of two thousand fifteen. And during several of those meetings, she appealed to him. She told him there's the sky at the journal who has gathered false and misleading information about us that he's threatening to publish. This is gonna do great harm to our company and and presumably to your investment rate, ultimately had to get out of and she kept bringing it up in the hope that he would offer to kill the story. And he never did. We're coming up to the end of our time. So when I was Beijing, I have about the book and the story, and this is not a criticism, but it's kind of surprising to me..

Tyler Scholtz Mike Brill theranos David boies Wall Street Journal Rupert Murdoch Schiller flexner George Shultz Schultz Bush Schiller Beijing News Corporation Elizabeth one hundred twenty five millio one hundred twenty five millio five million dollars ten days
"theranos" Discussed on Stay Tuned with Preet

Stay Tuned with Preet

04:08 min | 3 years ago

"theranos" Discussed on Stay Tuned with Preet

"It was all point. So if they're doing Venus draws for many, if not the majority of the tests that's already one huge hole in this. There are no Smith. So I wanted to see that. And the other thing I wanted to do is I wanted to compare my blood test results from theranos to ones from a traditional laboratory and so minutes after I exited the Walgreens in Arizona where I got my blood tested by theranos, I drove to a Labcorp location, and I wanted them to be close together so that you know there wouldn't be able to say, well, you wait too long. We didn't have a Big Mac in between. Right. And. I had fasted and then later week or two later, I got my test results. From fairness, I'd by then returned to New York, and I got the ones from Labcorp as well. And there were some discrepancies. One of them was that theranos labeled my cholesterol measurements as optimal pretty. So I'm going to get tested at theranos right after this. And and laugh Corp actually said they weren't optimal that they were high. The doctor who had given me my test order who became a source for my story because she had come across questionable results for patients from theranos. She had had herself tested too, and her theranos results showed that she had Addison's disease, which is a very serious condition that can result in death. If it's not treated her Labcorp results show that she, you know, that value is perfectly normal. And so she had no doubt in her mind having seen other questionable results from scores of patients that she had seen. She had no doubt that the Labcorp result was the correct one in the cheetan have Addison. So here's the question I have and maybe people listening have the same question that seemed to be a very easy commonsense, smart confirmable comparison test. Why isn't the whole thing over at that point? Like isn't easy for everyone then to just confirm what what you tested and concluded and put these folks out of business happened when we started confronting theranos with this information. And I I to say I had it least a half dozen patients test results. And I had a handful of doctors participating on the record and saying that that entrust the theranos results and they felt the ones from the other labs were the correct ones. They told us, well, this is just a small sample, and by the way, there's a lot of variability traditionally between lab test results. And so basically having excuse for everything they had along the way. There are one hundred stories like this. We didn't accept that excuse that said, we were mindful that we couldn't impurity prove that there are no results were consistently inaccurate because it it was. They were right. We only had a small sample, but we did feel we. Had enough to raise questions about the accuracy and reliability of test, especially. I also had the sources who had worked at their nose among them. The x. lab director who were telling me that the theranos machine could only do a handful of finger stick tests and that for all the others or the, at least for eighty other tests, they had hacked and basically modified regular Siemens machines to adapt them to small finger stick samples, and that one of the things that they had done to adapt them was to dilute the finger, stick samples to create more volume so that the probe that went down in the Cup inside the Siemens machine couldn't reach the blood if it was a tiny sample. So what they did to get around that is they increase the volume by diluting the blood. The thing about the Siemens machine is it already has a dilution step as part of its protocol. And so that introduced more room for error, and it also reduced the concentration of the analysts that the Siemens machine was trying to measure. It reduced them to a level that was so low that it was beneath the analytical measurement range that the FDA had approved for the machine. There was not a small company in the later years. What happened to the people?.

theranos Addison Siemens Labcorp Smith FDA laugh Corp New York Arizona director
"theranos" Discussed on Stay Tuned with Preet

Stay Tuned with Preet

04:21 min | 3 years ago

"theranos" Discussed on Stay Tuned with Preet

"So when he told me of his own skepticism and Dr Thalji blogger and he knew thing or two about blood testing certainly knew more about it than I did. He came to me with other information which was that he after the New Yorker story, he had written a short skeptical blog item on his blog, and this blog item had been seen by a guy named Richard fuse. And Richard fuse is a former childhood neighbor of Elizabeth Holmes who had gotten into a patent litigation battle with her, and he had a ultimately been steamrolled by. By Elizabeth and theranos who had hired David boies the famous lawyer to represent them and boys had steamrolled fuse, and in the course of that three year litigation fuse had become convinced that there was a scam, and by the way, fuses a trained medical doctor with a number of patents to his name. So you talked to him also. So I learned that the pathology blogger had been approached by fuse and that fuse was alleging that this thing meaning theranos was a scam. In addition, I also heard that fuse had recently himself made contact with an employee. If they are notes would just left there nece and it was a key employees. It was the laboratory director. So I was hearing third hand through the pathology blogger that there was this guy named Richard fuse who himself felt there was a scam and who not only had that hunch but had talked to a primary source who was confirming that hunch to him. And so I thought this story. Have legs if I can pull on this string and make contact with the primary source. And if I can confirm that the primary sources alleging wrongdoing and is alleging that this thing is a house of cards. Then you know, this could be a big story. Give like an investigative Spidey sense. So at this moment you've been reporting for a long time. You have eleven twelve Pulitzer's how many. I mean, I I've been part of teams at the journal that have won two Pulitzer your so very modest, two, twos, two more than I have at that moment. How are you feeling personally when you're hearing this information? Is it one of those things where you know it's happened twenty times before and it usually doesn't pan out or did you have some sense that this is really something? Well, I got to say that I get a lot of tips, and I think a lot of reporters get tips and most of them don't pan out. I would say nine out of ten if not one thousand nine hundred twenty don't pan out. Usually you can tell pretty early on. In this case, I have to say that might years immediately pricked up because I was immediately aware of the implications of potentially a fraud at this company. One, you know, Silicon Valley is a big story, and this was one of the most value valuable private unicorns and Silicon Valley valued at nine or ten billion dollars. It had this, you know, female founder, which was a rarity who who achieved star status and. Short period of time, and then you had the public health dimension of this. If what I'm was hearing second hand was true, and if this company not only didn't really have the technology that it claimed it had, but was also putting out unreliable test results. Then it meant that patients and potentially thousands, if not hundreds of thousands of patients were being put in harm's way because at that point, the theranos services had been rolled out in two stores in northern California and about forty one others in Arizona. So you talked a lot of people and among the other things you did, which I thought was fascinating is used subjected yourself to blood tests. Right. Describe why did that and how that went? Well, first of all, I wanted to see if they were gonna prick me and do the finger stick tests or do the traditional needle draw because I'd heard from the former laboratory director who by the way goes by a pseudonym and the book Alan beam I'd heard from Alan that act. Actually, a large proportion of the tests were being done on on regular sized samples drawn Venus, Lee from the arm, and was the problem with that that just went against the entire glory and vision of what they're not just putting forward. She had claimed in all these these interviews and she claimed it even on on the website of theranos that they were doing finger stick and that supposedly it was the whole point, right?.

Richard fuse Elizabeth Holmes laboratory director Dr Thalji David boies Pulitzer Lee Spidey Alan theranos fraud California founder Arizona ten billion dollars three year
"theranos" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

07:33 min | 3 years ago

"theranos" Discussed on Bloomberg Radio New York

"Bring down its mythical founder Elizabeth homes, theranos was deeply tied in. With, the American, political business and media. Establishment through her high profile board I suppose she did. This on, purpose. To give her cover that's absolutely correct I mean hurt her biggest trick her tactic for twelve years until I came, along was to associate herself with older men. Who, had sterling reputations and And to leverage the association to to gain credibility It was sort of like reputational laundering and at the height of her fame. And in two thousand thirteen two thousand fourteen. She she was surrounded by this board, of luminaries, these these ageing statesman who were legends you know, the likes of George Shultz Henry Kissinger Sam Nunn Jim mattis Admiral rough head that the, former chairman the former CEO and chairman of one of the country's biggest. Bank banks Wells Fargo, dick Kassovitz All these guys were were on the board and and she she had. Them believing in theranos but also she had them, beholden to her because she was paying them for their board. Duties and theranos stock and at that point in late two thousand thirteen early two thousand fourteen theranos became. Valued at nine billion dollars and so the shares of air, knows that she was doling out to them were worth millions of dollars. What an extraordinary con Wherever the regulators on theranos we assume with healthcare products there has got to be some oversight authority. Maybe maybe there isn't or she avoided it somehow, I mean they bear some responsibility for for not monitoring and. Policing this company closely enough but I would say that it's mostly because Elizabeth homes and sunny ball Wani. Misled them she really In her communications. And contacts, with the FDA was talking out of both sides for mouth she was telling. The FDA one thing the ten she was doing it another and she was telling the, public another The like I said, earlier the interview the cover story that arguably the most to really rocket or to fame was the fortune magazine cover story in June two thousand fourteen and in that story she made all sorts of. Claims namely that fairness could do hundreds of blood tests off a tiny drop of, blood pressure from the finger and get results back. To patients and doctors very quickly and in her communications with the FDA she was actually acknowledging to the FDA that most if. Not all of the therapists blood tests, were being, done on modified commercial analysers there's an anti regulatory environment right now But do you. Think the private companies such as theranos work in public health need more regulations and, more rules for transparency I think certainly in the. In the realm of health and medicine That regulations should not be weakened they should not be? Diluted and I think exhibit a. to support that argument is fairness I mean this is a scandal that that had very real implications for the public health, when I came along and started digging into the company theranos was on the verge of expanding, its partnership nationwide with. Walgreens which would have meant that it that, the blood tests services that. Are not offered in forty Walgreens stores in Arizona another two Another handful in northern California I would have been expanded to eight thousand other, Walgreens stores throughout the. Country and As it stands scores of patients had health scares and had their health impacted by these Rohingyas blood tests. And you can imagine the. Scale of the disaster had theranos gone national with its blood tests through Walgreens stores It would have been a real public health disaster and so I don't see how in late of this you can make a case for loosening, regulations in in medicine and in health how much did investors ultimately lose ended people such as George Shultz or The other notable board. Members put hard money into the company or was. It all just stock options that they received that the. Board members I don't believe put in any real money they were hoping to, make a lot of money by enabling her and being on her Lord Altogether almost a billion dollars went pouf with fairness in the, end if you count the sixty five million. Dollars that fortress investment group the private equity firm loan fairness last year to keep it afloat So about sixty five million dollars, an inequity in debt financing and another nine hundred million in inequity Raises and the people who lost the, most are billionaires and and. The family, offices of billionaires such as Rupert Murdoch who by the way controls the Wall Street Journal my employer he put in one hundred and twenty five million dollars. In theranos the, Waltons of WalMart fame. Put in one hundred fifty million dollars through two separate vehicles the Cox family which controls Cox enterprises the Atlanta based conglomerate putting one hundred million The family of, our current secretary of. Education Betsy DeVos put in one hundred million A central. Cisco hedge fund called partner fund management put in almost one hundred million. As well the Mexican billionaire Carlos slim put in twenty five or. Thirty million dollars so a lot of very. Wealthy people lost a lot of. Money you could say, that they can afford to these people are. All all billionaires and in some ways the these sums are, rounding errors for them but you know My response to that, is fraud is. Fraud at its peak theranos. Was valued at nine billion dollars and employed eight. Hundred people earlier this year the SEC charged it's founder Elizabeth, homes with running an elaborate years-long fraud a full inside story. Of the rise and. Shocking collapse theranos by the journalist who first broke the story is now a, national bestselling. Book bad blood secrets and lies and a. Silicon Valley startup author John Kerry ru, thank you for joining us thanks very much for, having me by the way if you have. Comments about the show or suggestions for topics please Email me at a. Closer look at Bloomberg dot net that's a closer look one word. At Bloomberg dot net and follow me on. Twitter at Arthur Levitt one word. This is a closer,.

theranos Walgreens Elizabeth homes FDA fraud George Shultz Henry Kissinger founder Wells Fargo Bloomberg dot Betsy DeVos George Shultz chairman Rupert Murdoch Twitter Carlos slim Bloomberg
Treasury's Mnuchin says Trump backs Fed independence

Politics, Policy, Power and Law

02:33 min | 3 years ago

Treasury's Mnuchin says Trump backs Fed independence

"Barricaded inside the. Silver leg trader Joe's in Los Angeles, and what may be a hostage situation sergeant Barry Montgomery of the. LAPD says police began chasing the suspect after he shot his grandmother and girlfriend that pursuit went into the northeast area. Of Los Angeles were terminated in a collision in an officer involved shooting occurred that's suspect fled that vehicle into trader, Joe's multiple agencies continue to investigate the. Sinking of a Taurus boat near Branson Missouri that left seventeen people dead correspondent Caley harboring reports efforts will focus on pulling the vessel. Out of the water that vote is still at the bottom of this lake the recovery of that vessel will be an important part. Of this investigation as we'll be talking to survivors and witnesses for the NTSB the National Transportation Safety board says it may. Take up to a year to finalize a report on what caused the tragedy I'm Ann Cates I'm Greg, Jarrett from. Bloomberg, world headquarters Treasury Secretary Steven Mnuchin is trying to calm the waters after a flurry of President Trump tweets rattled financial. Markets Bloomberg's Mark mills reports speaking on, the sidelines of the g twenty meeting today in Buenos Aires Treasury. Secretary Steve Mnuchin said President Trump fully supports the independence of the Federal Reserve and isn't trying to interfere in the. Foreign exchange market in a series of tweets on Friday Trump lashed out at China and the European Union for their, weak currencies instead a stronger dollar and. Rising interest rates imposed by the Federal Reserve are undermining America's competitive edge Mnuchin said the president's comments weren't intended to jeopardize the Fed's. Independence several major pharmaceutical companies lowered their spending on lobbyists in the second quarter of two thousand eighteen at a time of uncertainty as. President Donald Trump's administration continues its campaign the lower drug costs for consumers pharmaceutical research and manufacturers of America spent five point. Five four million Dollars between April and June that's down seven. Point seven percent from the same period last year Chinese president Xi Jinping arrived in Africa and a four nation visit seeking deeper military. And economic ties while his rival. In a bitter trade war the, Trump administration shows little interest in the world's second most, populous continent Alien Sergio Marchi owner has been. Replaced as CEO of the Ferrari car maker on the eve of an f one race that sees Ferrari's racing. Team in a very strong position rival Mercedes head of motor, sport TOTO, Wolff wishes Marconi well hailing him as a character and an important personality for Formula one investors suing theranos and the company founder Elizabeth homes.

President Donald Trump Steven Mnuchin Federal Reserve President Trump Los Angeles JOE Bloomberg America Lapd Sergio Marchi Barry Montgomery Branson Missouri Ferrari Ntsb Mercedes Secretary Caley Ann Cates
"theranos" Discussed on Masters in Business

Masters in Business

04:59 min | 3 years ago

"theranos" Discussed on Masters in Business

"To go by one of the better aspects of living in New York City alternate side. I'm being ironic, and so I answer the phone and it's her and we talk, and I realized that she's right. There's no way try to run through the scenarios and the permutations there's no way anyone could have known that was her dress without having her followed how many people in the book felt like they were being followed, how many participants in the book or that you didn't might not have printed at least three Alan beam? The x. lab director. Again, that's pseudonym Tyler Scholtz in Erica all either got word that they were being followed or strongly suspected there were being followed or had evidence or had reason to believe that there were being followed. And what about the fuses? Did was earning any suspicious, right. The fuses had been had come to the conclusion that they were being followed by PI's, but that was several years prior during the the litigate patent litigation than and pitted them. Against their nose. So something interesting that was brought up from that boys won the patent litigation and was paid not in cash, but in theranos stock, I was very surprised by that. Is that common in legal circles or silicon? I know in Silicon Valley, it's not unusual, but in patent litigation, how out common uncommon is that? I mean, I, I don't think it's very common and for me when I learned about it, I learned about it. I think it was in in the winter of two thousand sixteen a couple months after my first story was published. I thought it was a huge conflict of interest because here you had a lawyer and his law firm that owned almost five million shares, you know. I five million dollars five million dollars worth of shares. And so he was no longer just the legal advocate of theranos. He also had skin in the game financial night, and I fell interest not mere advocacy on behalf right line. And and you know, I strongly felt that that was a conflict of interest, and I wonder, I wonder if that clouds a lawyer's judgment in some of the things you describe if people do that when the representing clients as opposed to? I don't see. I don't see how could they say that it doesn't, and I don't see how it doesn't it. It has to. I mean, you're no longer object. You're protecting a pile of five million dollars that by the way you accepted in lieu of of regular compensation because you expected that pile to grow as the stock evaluation. The company grew to tear them if they come out and say. So you know, say that. That this didn't influence how they behaved in an an how they they worked for theranos. I think I would maintain his hogwash. So here, let's talk, put some flesh on on the bones about the dollar value of theranos and and what people, why people thought it could go to the moon at its peak? What was the most? The company was worth ten billion dollars and how much money had investors put into it. So if you count the the money that was loaned by the private equity firm fortress investment group on late last year to keep their nose afloat, that was sixty five million dollars if you count that cash injection almost a billion dollars. Wow. And so that's a you immediately you talking about ten return if it, if it keeps going, the thing that keeps coming up as I was working. My way through the book was there's no there there. There's, there's really there was this initial idea and then there was no new. Signs develop, there was no technology developed. It was shocking. At what point did the outside world before your column starter think, hey, there's a fraud here. Where did the red flag start appearing outside of of John Kerry rooms? No, there were grumblings among people in the laboratory science profession. In fact, one of the early voices was a guy at Stanford John. I a- Nitis laboratory medicine a professor at at Stanford. And in fact, he and I recently had a testy exchange by Email because he was angry that I hadn't mentioned him in my book. And I told him that that I apologize for the emission. But I said at the same time, you know, he essentially written an opinion piece in the journal. Of the association for the American medicine medical association. JAMA in, I believe it was in February or March of two thousand fifteen..

New York City Tyler Scholtz Alan beam Silicon Valley American medicine medical asso director John Kerry Stanford John Erica professor fraud five million dollars sixty five million dollars ten billion dollars billion dollars
"theranos" Discussed on This Week in Startups

This Week in Startups

03:45 min | 3 years ago

"theranos" Discussed on This Week in Startups

"Magic leak leap demo and what did you think of this underwhelming or interesting looks like a hollow lens to me the thing that's hard to tell from these videos is the full field of view because they deliberately pick like if you look at the way that they're tracking they're the object of the center yeah exactly and so they're not it's all if you are where you have this full sort of a hundred and five hundred ten degrees field of view the experience got i think the hull ones is maybe like twenty three twenty five degrees got magically is probably going to be similar show the field of you matters why why because it has to do with how much you have to move your head to kind of keep the objects within range of so it breaks reality a little bit how where like i would move too fast and i will lose everything and everything pops back up i mean that tracking is slightly different thing but it just means about like you know how much of the virtual experience in you you know see gotta yeah so if you're playing the the walking dad are zombies can only come directly at you well they can be everywhere in the space but it's just about what you can see like if i could just see you where blind yeah let's little bit like a wider them blinder so he's magically teddy in your estimate complete and utter fraud and theranos or is it your professional opinion is theranos is it overvalued or is it too soon to tell to tell i mean sadly i mean it's it's i feel it with theranos there is an actual example of fraudulent behavior and there was that you could assess the fraud right there's just it just pre product company value billions of dollars right yeah like i think we we can see once there's actual output the inputs were worth it right but never know global warming that would have to be right up to be a fuck up here's the reason i agree with you that it's not their nose level real investors who have seen and use the product show if you look at theranos and we just had john our ru on i don't know if guys have listened to read tabet lot it's extranets ing so good did you read it yeah i have yeah all three of his to this going to be segment to is just talking about the derangement of that and i want you to think about as middle teaser after commercial break the most arrange moment in bad blood but for now let's talk about magic leap peter do you think it's their nose level fraud or over hyped and overvalued and could possibly be worth three billion and should companies were three or four billion before they ever get a product to market i mean i am as an investor journalist so i have some skepticism that they're gonna it's gonna be hard to live up to the valuation right because if they're at invested what was the we know the post was four on the last in but let's say it's let's say it's four billion at isn't necessarily they're not venture investor so they're not looking for strategic yeah but for companies invested at like the two valuation like he still treats horowitz to yeah i mean you have to expect this is going to be like it's going to be very binary outcome right where this if this ends up being an apple level company right it could be twenty million thirty four hundred billion right yeah but the thing i worry about with them is that what seemed like they were far ahead out of the far ahead of the four years ago the markets catching up pretty quickly i mean if you see the stuff that people are building just for the phones right now a lot of that is is pretty good and it we saw with people like holding their phone up and doing the kind of.

twenty three twenty five degre five hundred ten degrees four years
Disney, Walt Disney and Fraud discussed on Rodney Harrison

Rodney Harrison

02:28 min | 3 years ago

Disney, Walt Disney and Fraud discussed on Rodney Harrison

"Over president trump's former campaign chairman paul manafort spent the night in a vip section of a jail in virginia yesterday a federal judge revoked his house arrest citing newly filed obstruction of justice charges correspondent sarah westwood this morning president trump has already described the jailing of former campaign chair paul manafort is unfair and he has already begun to use the results of a doj inspector general report about the clinton email investigation to attack the foundation of the molar probe even though that report did not weigh in on russia prosecutors accused manafort and a longtime associate of witness tampering china continues to say it doesn't want a trade war but has no choice except to fight back against terrorists imposed by president trump today china announced it was raising import duties on a thirty four billion dollar list of american goods and to sheriff's deputies are dead after a shooting outside a courthouse in downtown kansas city kansas yesterday i'm christopher cruise and i'm susanna palmer from bloomberg world headquarters china's response to us tariff seems to hit the trump administration right in its natural resources yesterday china the world's largest commodities consumer said it will levy a first round of tariffs on thirty four billion dollars worth of us agricultural products as well as automobiles starting july sixth another sixteen billion in goods including coal and oil will be subject to tariffs later federal prosecutors have indicted elizabeth homes on criminal fraud charges for allegedly defrauding investors doctors and patients as the head of the blood testing startup theranos homes stepped down as ceo of the company yesterday while retaining her position as chairman of the theranos board sources tell bloomberg rupert murdoch and the twenty first century fox board will consider on wednesday how to proceed with comcast's sixty five billion dollar bid for the company's entertainment assets the fox sport agreed to sell the assets to walt disney last year the people said fox can ask disney for a waiver to begin discussions with comcast the rich are getting richer and doing so a lot faster with millionaires now controlling half of the world's personal wealth the story from bloomberg's charlie pellett boston consulting group says personal wealth around the globe reached two hundred one point nine trillion dollars last year a twelve percent gain from two thousand sixteen and the strongest annual pace in the past five years booming equity markets swelled fortunes.

Disney Walt Disney Fraud Elizabeth Bloomberg World Kansas City Witness Tampering Russia Clinton DOJ Sarah Westwood President Trump Bloomberg Donald Trump FOX Comcast Rupert Murdoch Chairman
Theranos founder Elizabeth Holmes has been charged with wire fraud

Bloomberg Law

00:38 sec | 3 years ago

Theranos founder Elizabeth Holmes has been charged with wire fraud

"The matter say general motors is considering listing shares of its self driving car unit cruise automation federal prosecutors have indicted elizabeth homes on criminal fraud charges for allegedly defrauding investors doctors and patients as the head of the ones heralded blood testing startup theranos homes has stepped down as ceo of the company she will keep her role as chairman of the board apple says it has reached a multi year deal with oprah winfrey this to create original program sports streaming service apple said yesterday the programs will be released worldwide as part of a lineup of original.

General Motors CEO Chairman Apple Oprah Winfrey Elizabeth Fraud
Theranos CEO Elizabeth Holmes charged with criminal fraud

News, Traffic and Weather

00:57 sec | 3 years ago

Theranos CEO Elizabeth Holmes charged with criminal fraud

"That were intended to help ease the dispute over china's trade surplus and china's technology policy federal prosecutors have indicted elizabeth homes on criminal fraud charges for allegedly defrauding investors doctors and patients says the head of the once heralded blood testing startup theranos homes enter chief operating officer ramesh bowl wani are charged with two counts conspiracy to commit wire fraud and nine counts of wire fraud that's according to the us attorney's office for the northern district of california we check your money at twenty and fifty past the hour on komo news kellogg's is recalling honey smacks cereal voluntarily doodo a possible link to a multi state salmonella outbreak mark mayfield would details the cdc since the puffed wheat cereal is a likely source of the upper is seventy three people in thirty one states twenty four people have been hospitalized but so far there have been no deaths the fda's inspecting a facility that manufacturers honey smacks customers are being told.

China Chief Operating Officer Wire Fraud Us Attorney California Kellogg Mark Mayfield FDA Elizabeth Fraud Ramesh Bowl Salmonella
Scotland, Glasgow and Alexandra Mackenzie discussed on BBC World Service

BBC World Service

01:11 min | 3 years ago

Scotland, Glasgow and Alexandra Mackenzie discussed on BBC World Service

"In scotland are battling a major blaze one of glasgow's most important architectural sites the mackintosh building at the school of art the site has been undergoing a forty two million dollar restoration program after it was badly damaged by far in two thousand fourteen alexandra mackenzie is in the city the thick black smoke and flames could be seen for miles around glasgow school of arts macintosh building was engulfed by fire for the second time in four years the scottish fight and rescue service said it was an extremely challenging and complex incident no casualties have been reported but nearby buildings were evacuated world news from the bbc the greek government faces a censure votes in parliament today over a provisional deal to settle a naming dispute with macedonia this festive for decades the prime minister alexis tsipras and his macedonian counterpart zoran zaire agreed earlier this week the greece's northern neighbour will be renamed north macedonia according california has indicted elizabeth holmes the founder of the us health startup theranos with defaulting investors.

Scotland Glasgow Alexandra Mackenzie BBC Macedonia Prime Minister Zoran Zaire Greece North Macedonia California Elizabeth Holmes Founder Glasgow School Of Arts Alexis Tsipras United States Forty Two Million Dollar Four Years
"theranos" Discussed on This Week in Startups

This Week in Startups

02:12 min | 3 years ago

"theranos" Discussed on This Week in Startups

"Into the mini lab turn it on you know it start worrying and then they would say oh it's going to take a little while one you come in either visit the lab or how or go saga with over here meet with elizabeth and her office and so the ip would leave the room and then a theranos employees would stop the machine take the blood out and bring it to the lab and and that little blood sample would either get tested at the bench by one of their laboratory technicians or on one of the siemens machines employees knew they were doing something fraudulent very few of them knew about this the demos were her inside start routed in secrecy it was a very small circle of people who knew about the bogus demos and it was a very small circle of people who knew that the siemens machines had been hacked and fact in in the later versions of the theranos laboratory you couldn't get into the laboratory where the siemens machines were had been hacked unless you were unauthorized member of the lab who's fingerprint was you know basically had fingerprint scanners on the zone created this level of secrecy insecurity that mimicked steve jobs is right but instead of doing that because they didn't want to see all the foul designs that he and johnny i've worked on for the iphone she was literally doctoring the blood tests had it's been confirmed by multiple people now yeah i mean she and her boyfriend sunny by one who was the number to the company this president he was like fen golly kind of figures i push back against the notion that he was controlling her and that he was like the puppet master that that's not the case it was a partnership of equals they were running in this frog together and ultimately she always had the last say if there was something she didn't agree with she had the veto power so he was just a sycophant partner in crime right i mean in to some extent he was using her and she was using them but he was not manipulating her i address that and the epilogue and i pushed back very strongly against.

elizabeth steve jobs president partner siemens johnny i
"theranos" Discussed on Left, Right & Center

Left, Right & Center

02:02 min | 3 years ago

"theranos" Discussed on Left, Right & Center

"Reporter who broke the theranos story john kerry ru is out with a new book called bad blood secrets and lies in a silicon valley startup which chronicles the rise and fall their nose and he's here with us now john thank you so much for being here thank you for having so this book first of all this book is fantastic it's a it's a wild story it reads like a novel and sort of you can't believe it's real even though it is i want to ask you about a story at the beginning of the book where you start in two thousand six and the chief financial officer of theranos approached elizabeth holmes the founder and expressed concerns that the company was faking demonstrations to potential investors having demo machines appear to produce valid test results even though they weren't actually working cfo told her that they couldn't do that and she told him he wasn't a team player and fired him immediately right that was nine years and hundreds of millions of dollars in equity raises before theranos was publicly exposed by you read a company without a working product how did this go on for nearly a decade i mean that that was precisely the point of choosing that seen as the prologue is to drive home the point that the unethical behavior had been going on for many years and had basically almost begun at the at the very founding of the company as to why it lasted so long and why it wasn't uncovered for a long time for one thing the culture at theranos was one of fear and intimidation in late two thousand nine about a half dozen years into the company's life elizabeth brought in her boyfriend a guy who's nineteen years older than she was and who had made money during the dotcom boom his name was sunny bonnie and she had already had a history of firing people who disagreed with her but it sort of that that culture and that pattern went into overdrive when he came on board then in addition to sonny who was really you know a tyrant inside the company and there was david boies who was the company's outside counsel and he started working for theranos in two thousand eleven his first job.

Reporter chief financial officer elizabeth holmes founder cfo theranos sonny david boies john kerry nineteen years nine years
"theranos" Discussed on Recode Decode

Recode Decode

01:53 min | 3 years ago

"theranos" Discussed on Recode Decode

"Image and the trappings of silicon valley and make theranos in the public eye a tech company when in fact it was a a medical was interesting also locating crush from stanford hospital the medical school which is got enormous reputation so talk about how she did this like how did and then i want why you got how you got to her when she i dropped out she actually had this vision for what she called the therapath which was like an arm band they would have micro needles in the micro needles withdrawal your blood and diagnosed whatever ailed you and almost needles exist i mean microflora deke's were a couple years old and that point there's a swiss scientist who had figured out that you could repurpose the micro fabrication techniques used to make computer chips and and use them to make tiny channels that would move a tiny quantities of liquid and so that that was sort of like when thing sounds good yeah they things in that space we're certainly hot and there was a lot of research going on and so she's sort of surfed on that and she quickly abandoned the therapath the armband because that was really to kristich those basically science fiction invisibility john day so the first pivot was to something that seemed a little bit more feasible which was a toaster sized micra fluid device in which you would slot cartridge and cartridge which have your drop of blood and and so for a couple years they actually tried to work on a micro fluid device and they couldn't get anywhere with it background with not medical well i mean her what was her her background was that she dropped out of college after barely half of undergraduate studies so i i don't think you could say had any expertise whatsoever.

stanford hospital scientist
"theranos" Discussed on Grumpy Old Geeks

Grumpy Old Geeks

01:40 min | 3 years ago

"theranos" Discussed on Grumpy Old Geeks

"Way to go to go so that's that's number one theranos remember theranos yeah the the blood testing company that was basically nothing the well the sec is charged theranos with massive fraud in the ceo was stripped of everything stripped over control she has to give back oliver shares she's going to pay five hundred thousand dollar penalty and if the company has ever sold she will not profit from it until more than seven hundred and fifty million dollars is returned to allegedly defrauded investors and other shareholders and she can't run on she can't be on the board or an officer of a public company for ten years good so yeah occasionally something good happens in the world yes yes and of course wired again comes up with another story there no silicon valley's fake it till you make it culture insist the theranos story is an important lesson for silicon valley said gena choi director of the sec san francisco regional office in a statement to the press innovators who seek to revolutionize and disrupt an industry must tell investors the truth about what their technology can do today not what they hope it might do someday hey twenty three and me watch your backs no doubt i'm a talion dammit oh man and now france is getting in the game they are suing google and apple over abusive developer contracts ok unfortunately it's not a lot of money they're only trying to get fines of about two and a half million dollars for each company which is you know drop in the bucket for them but at least they're going after them for basically tweaking the developer contracts to not be friendly to the developers.

sec fraud ceo officer director france google oliver gena choi san francisco apple developer five hundred thousand dollar fifty million dollars million dollars ten years
"theranos" Discussed on This Week in Tech

This Week in Tech

01:38 min | 3 years ago

"theranos" Discussed on This Week in Tech

"Corporate entities don't have attendants they tend to react badly the pranking sec has has begun bendy as well while the way pardon me they react badly to people shorting their stock instead of getting a bug that's could be a problem down the road as well elizabeth homes ceo of theranos and thermos of theranos is former president sunny bomani are now being charged by the securities and exchange commission for fraud they raise more than seven hundred million dollars you know for theranos the sec alleges they exaggerated made false statements about the company's technology they were you know supposedly developing technology for blood testing the required just a pinprick a little dot of blood it never did work and there's some evidence that they knew that for years nevertheless you know there will be an investigation at this point sec fall complaints against thera elizabeth homes and sunny ball wani claiming that theranos products were deployed by the us department of defense in the battlefield in afghanistan on medivac helicopters the company generate more the hundred million dollars in revenue twenty fourteen they claimed it i'm sorry theranos claimed that they never were deployed and generate less than a hundred thousand dollars in revenue from oppor a bunch of questions here about the viability of silicon valley investors these people have given this person seven hundred million dollars on the theory and you would imagine that they had done some due diligence and action delegated that the claims.

ceo theranos president bomani fraud sec thera elizabeth us afghanistan seven hundred million dollars hundred thousand dollars hundred million dollars
"theranos" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:19 min | 3 years ago

"theranos" Discussed on Bloomberg Radio New York

"That you could mislead investors about they did so in that context max while people may not know about theranos and elizabeth homes the names of the investors is like an all star list of supposedly smart sophisticated either individuals or institutions the cleveland cleveland clinic right they had a partnership with theranos to test its technology they had lab work they said that they were a lab work provider for pennsylvania insurers including a health carita san capital blue cross this goes back three years ago what does it say about the due diligence process and how can you actually then have faith in these investors ability in the future for the most part the really interesting thing about theranos investors with a couple exceptions is that they weren't healthcare specialists they weren't people that focused on biotechnology but at the same time you know that doesn't excuse them from the fact that they really did do pretty terrible due diligence and did not support supporting question of all which theranos was never revealed which was how does your supposing miracle technology work you know if they asked that question i think maybe it would have gone a little bit differently not the first time this has happened i have the crystal clear remember i won't go to the details the time where i wasn't we learned mr made off and the first thing i said is a grisly pro and losing money is who were the auditors are their auditors involved here that are going down with this mess you know i think the tone of the reasons at the sec complaint was so strong is when you're raising private money there's watered is them trying to draw a line in the sand where you know just because you aren't making these kind of public disclosures doesn't mean that you can basically get away with with promising the world when you have no basis to be clear here witness toys r us where a lot of little guys lost money did little people lose money with this you know maybe people that worked for theranos kind of committed to working for less salary in the hope that they might make money from equity that's the equivalent little personality also people that got these blood tests and then later found out.

cleveland cleveland clinic theranos pennsylvania sec three years