Big Names Take Hit on Theranos
wsj.com
wsj.com
You can say that again. When I heard she only had one semester of chemical engineering before founding her company I was. . .shocked to put it mildly. To hold yourself out as an expert at 19, with less than a year of college in your field is pretty arrogant.
The fact the people investing in her company knew this and still threw millions at her says more about them then her obvious flaws ever could.
What are some of the challenges in proving malicious intent in these kinds of, ultimately, financial transactions?
The way the last financial crisis was "concluded" and the way Theranos will likely conclude leaves me with little to no hope for our justice system.
Good to know, but it's hard to generate much sympathy in an investment BEFORE proof of concept.
I had assumed that would be a civil suit instead of criminal.
A Doctor advocates a new medical procedure without doing any research on the procedure. The procedure turns out to be criminally negligent, and the patient is killed as a result. Is the doctor at fault?
I believe an investment is at the very least a vote of confidence, and investments by "important" individuals can lead to their mass adoption. Thus many, but not all, of the investors in the case of Theranos are culpable in my opinion.