His use of the test in 2015: https://mondaynote.com/theranos-trouble-a-first-person-accou...
Follow up from May 2018: https://mondaynote.com/theranos-could-have-been-stopped-9670...
https://www.imdb.com/title/tt5795144
https://deadline.com/2018/05/vanessa-taylor-theranos-scandal...
It's also a breezy read - I tore through it in a couple of sittings.
https://www.commonwealthclub.org/events/2018-06-07/theranos-...
No patients were harmed. The only losers in this are the investors that invested in Theranos. Given that they blindly trusted the pitch, without verifying that the technology worked, that makes them very bad and unskilled investors.
Unskilled investors losing a lot of money is, in fact, a very good thing for the Silicon Valley ecosystem. It's how bad influencers are flushed out of the system.
You apparently didn't read it very well. Patients went to ERs, had drug dosages changed, invasive tests and procedures performed as a result of these results.
> It's Theranos's investors and Theranos's business partners that are mostly at fault. They didn't do their due diligence
And it's probably the FDA's fault, too, right? You know, since they should have known that a locked and partly covered side door to a lab is where the Theranos equipment really was, and that the lab they were inspecting had been carefully prepared and "sanitized" for their benefit, and Theranos hoped that if this wasn't uncovered they'd be certified based on the "prepared" lab. Balwani and Holmes forbidding anyone from using the real lab, or going through that door when inspectors were on-site was... "just hoping that it would work", not actively deceptive and fraudulent, right? What due diligence might have helped discover that?
I am glad Holmes and Balwani are facing the music. I would have preferred to see more than just Holmes and Balwani face charges though. There’s no way you pass an inspection from CMS and FDA when you have a “pay no attention to the man behind the curtain” part of the building without others being in on it.
Just FYI, the parent was being sarcastic.
In the wake of Theranos I have heard serious criticism of CMS & FDA to this effect (we need more regulations because clearly they're not getting the job done.)
Beyond the psychological harm in the reported false positive cases why are you confident that no patients were harmed in even worse ways (i.e. false negatives, not catching a condition early)?
Did you make an account just to make this dumb comment?
Yes, it is.
#1: Saying you can do something you know you can't do #2: Saying you can do something you think or hope you can do #3: Saying you can do something you know you can do
While there is a human behavior difference between #1 and #2, you're still misleading your investors, right? Like I said, IANAL, so I can't say whether or not it constitutes fraud, but it is still dishonest IMO.
That's not the point. The point is reckless endangerment of patient and there are laws for these kind of thing. You break it and you pay for it.
It's like saying robbing a bank and no one got killed for it. They got the money back. Just let the robber go.
If they can get away with bilking investors while putting a defective medical device on to market you mind as well have a unregulated medical device market. FDA and John Carreyrou got them.
> Unskilled investors losing a lot of money is, in fact, a very good thing for the Silicon Valley ecosystem. It's how bad influencers are flushed out of the system.
The end does not justified the mean.
Just cause Thanos saved the universe by killing half of all living thing doesn't make it good.
Investors are not expected to need to see through blatant fraud. Many laws and regulations exist for the precise purpose of preventing fraud because it's not supposed to be one of the expected risks of investing. The expected risk of investing is that the business might lose value or fail in the marketplace, not that the entire operation is a scam.
This is blaming the victims. The article says that Theranos lied to investors. How can you invest in anything if lying is allowed without consequences?
> It's how bad influencers are flushed out of the system.
Justice punishing wrong behaviour is what flushes out the system. People walking away with money collected from lies and fraud does not.