Wednesday 13 February 2019

Bloody Fraud

I’ve just learned about Elizabeth Holmes, former CEO of defunct medical equipment company Theranos (so close to Thanos that I actually wrote that first!) she’s 6 months older than me, almost to the day, and 16 years ago, she convinced investors and the general public that she was on the verge of a breakthrough that would change modern phlebotomy (that’s blood tests). She claimed that she had invented a machine that could run “1000 tests” on a single drop of blood. It was a spurious claim that was never substantiated, never fully peer reviewed and never approved by the FDA. 

Somehow, the company continued to receive funds from investors, hire people (and fire them for asking too many questions), and run inaccurate tests on real human patients for many years. The company dissolved in September 2018, 15 years after its incorporation.

Elizabeth Holmes, disgraced CEO of Theranos

This tale made me think a lot. This woman is a generational peer, and she had a really good idea. Anyone who knows me knows I am constantly full of good ideas. But where we differ is in our approaches. She dropped out of Stanford after 2 years and never completed her degree in chemical engineering. She didn’t have the knowledge to make her idea work. It’s a shame because a 1 drop testing solution would be beneficial to so many people. It really was a good idea, and perhaps with time, patience, study, and due diligence it could have been viable. 

She became the youngest female self-made billionaire. Meanwhile, in the same amount of time, I’ve drifted from job to job, I’ve never really found my place in the world, until now. Everyone has their own timeline. I might only just be starting my journey to greatness, but then I haven’t committed the biggest fraud of the 21st Century, so... silver linings! 

In a way, she’s what you’d describe as a typical millennial (as described by many a baby boomer). Impatient, entitled, and not prepared to do the work. Others, including John Carreyrou (the Wall Street Journal journalist who broke the story) have called her a sociopath. I think she was foolish, and the lies got out of hand. But I also think that ultimately, she set out to deceive.

If you’d like to learn more about this story, I’d enthusiastically recommend The Drop Out Podcast from ABC Radio available on iTunes, and you can read John Carreyrou’s latest article on Elizabeth Holmes and Theranos here in the Wall Street Journal

1 comment:

  1. This article is wonderful. By the way, we would like to let you know about our company: Premium Travel Vietnam (PTV) is a professional, leading tour operator based in Da Nang city – central Vietnam. Our office is at 21 Che Lan Vien Str, Ngu Hanh Son Dist, Da Nang city. We have been in the tourism industry for many years and with a comprehensive experience in this field, we are proud to be one of the best travel agents in Da Nang in particular and in Vietnam in general. Everyday,we provide tourists with all tour packages, holiday deals, vacations, private trips to all sightseeings, historical sites in Vietnam such as Ha Long bay, Thang Long Citadel, Ho Dynasty Citadel, Trang An Landscape Complex, Hoi An ancient town, My Son Holyland, Hue ancient capital, Phong Nha National Park. Besides, Vietnam is not only well known on the world map but the people are so friendly, warm hearted and welcoming. Today, there are more and more people coming to visit Vietnam, especially central Vietnam because of its spectacular landscapes, awesome foods and amazing UNESCO sites. In addition to exploring many historical sites of central Vietnam, tourists also show their passion in joining some local activities and the most typical tour is Hoi An Basket Boat Tour. This tour will take visitors to be far out of Hoi An bustling city and deepen in a serene atmosphere of water activity. When coming to join in this tour, tourist will have a big fun with local people, knowing how to row this unique coracle boat as well as watching someone spinning the boat by himself. You will have an exciting time here. Let’s come to book this tour with Premium Travel Vietnam and we will make your trip a special one. Besides, our company also arranges package tours, private tours or day tours to Phong Nha National Park. A new tourist destination of central Vietnam in Quang Binh province. So, let’s come and explore amazing, fantastic caves and impressive nature as well as spectacular stalactities, stalagmites at Phong Nha Park with Phong Nha Pioneer Travel. For more information, details and assistance, kindly contact us at premiumvietnamtravel@gmail.com or whatsapp us at 0084979613777. We are very pleased to serve you and be a reliable partner to you.




    ReplyDelete

Bloody Fraud

I’ve just learned about Elizabeth Holmes, former CEO of defunct medical equipment company Theranos (so close to Thanos that I actually wro...