>> endobj /Pg 235 0 R While working at Theranos, Cheung sent an email to others in the company, sharing her concerns about the Edison machines. /S /TD /S /LI >> endobj /K 177 0 R /Pg 239 0 R << 78 0 obj /P 301 0 R /S /LBody /Lang (EN-US) /Parent 11 0 R /P 8 0 R /S /LI << /MediaBox [0 0 612 792] /P 8 0 R /Lang (EN-US) endobj /Lang (EN-US) /P 8 0 R There are at least four biases that can let a belief about a desired future state shape reality despite its disconnectedness from reality. /MediaBox [0 0 612 792] According to the indictment, the defendants also allegedly made numerous misrepresentations to potential investors about Theranoss financial condition and its future prospects. %PDF-1.5 << endobj /Pg 254 0 R >> /P 342 0 R /K 6 /Lang (EN-US) >> /K 18 /P 171 0 R endobj /S /LI endobj /S /P The company's stated mission was to "revolutionize medical laboratory testing," according to the Department of Justice. /Pg 252 0 R /Lang (EN-US) /Lang (EN-US) /Lang (EN-US) << Theranos's mission statement is "Our mission is to make actionable information accessible to everyone at the time it matters". 194 0 obj Doctors began using Theranos testing devices to diagnose patients and dispense medical advice. /S /P /S /LBody In addition, the defendants represented to investors that Theranos would soon dramatically increase the number of Wellness Centers within Walgreens stores when, in truth, Holmes and Balwani knew by late 2014 that Theranoss retail Walgreens rollout had stalled because of several issues, including that Walgreenss executives had concerns with Theranoss performance. /Pg 238 0 R endobj >> endobj /P 50 0 R /Type /Pages 174 0 obj 20 [null null 221 0 R null null null 222 0 R null null 56 0 R endobj /P 8 0 R 398 0 obj endobj >> << << /S /LBody Rankings are based on government and proprietary data on salaries, company financial health, and employee diversity. 371 0 obj 338 0 obj null 110 0 R null null null 111 0 R null 112 0 R null 113 0 R 387 0 obj Palo Alto, United States August 18, 2016: Elizabeth Holmes accepts The Entrepreneur award at, the 25th Annual Glamour Women of the Year Awards on Nov. 9, 2015, in New York. /Pg 245 0 R >> /S /LBody Most of the tests that Theranos was performing for clients were done on devices made by other companies, Cheung testified. endobj endobj << /K 5 << Ad Choices, Theranos founder Elizabeth Holmes on trial as jury selection begins, Theranos downfall due to elaborate $4M conspiracy, investor says. /StructParents 14 /P 48 0 R /MCID 2 /P 380 0 R /K [8 94 0 R] /S /LBody endstream Theranos - Wikipedia << endobj >> << /Lang (EN-US) << << /Marked true /S /P /S /TR /Lang (EN-US) >> endobj endobj >> Indication(s) for use: Same as the intended use 3. endobj endobj 102 0 obj /Parent 5 0 R endobj >> endobj /K 131 0 R >> Theranos Announces Expansion of Board of Directors and New /P 48 0 R /K 174 0 R However, any sentence following conviction would be imposed by the court after consideration of the U.S. The United States Postal Inspection Service has a long history of successfully investigating complex fraud cases, said Inspector in Charge Rafael E. Nuez. /Pg 256 0 R /S /LI /Pg 235 0 R << /P 264 0 R /P 265 0 R Elizabeth Holmes' trial begins with opening statements - CNN /P 50 0 R endobj /K 123 0 R >> /S /P /S /LI /Pg 236 0 R 95 0 R 96 0 R 97 0 R 98 0 R 99 0 R 100 0 R 101 0 R 102 0 R 103 0 R 104 0 R /S /P /K 35 >> It's unclear . /Pg 246 0 R /K 138 0 R >> /P 55 0 R /S /LI 228 0 obj endobj /S /LBody >> /K 10 /K 194 0 R 286 0 R 287 0 R 288 0 R 289 0 R 290 0 R 291 0 R 292 0 R 293 0 R 294 0 R 295 0 R >> << The alleged fraud, which Holmes perpetrated as the companys founder and CEO, may have felt less onerous due to the goodness of the vision and mission she championed. /Parent 5 0 R 35 0 R 36 0 R 37 0 R 38 0 R 39 0 R 40 0 R 41 0 R 42 0 R 43 0 R 44 0 R /P 48 0 R /K [32 382 0 R] 292 0 obj >> /K 4 /K 10 /K 120 0 R /S /LI 17 [null null 204 0 R null null null 205 0 R null null null 161 0 obj /Lang (EN-US) /Pg 238 0 R /S /P /P 341 0 R endobj << /Parent 5 0 R /K 16 Surprisingly, few paid much attention to that unchecked gap before the truth began to come out. 11 0 obj 329 0 obj /P 281 0 R /P 323 0 R << /S /LI WIRED Media Group /Type /Page 306 0 obj >> /Pg 239 0 R endobj 206 0 obj /K 143 0 R null 233 0 R null null null 234 0 R null null 64 0 R 65 0 R endobj /S /L 390 0 obj /Lang (EN-US) << endobj stream /StructParents 5 << /K 21 >> /P 63 0 R The University recognizes the importance of its location in New York City and . Holmes, 34, of Los Altos Hills, Calif., founded Theranos in 2003. In many ways, Theranos is the embodiment of Silicon Valley startup culture. endobj 385 0 obj Mutual Fund and . /K 128 0 R 289 0 obj /P 297 0 R /SourceModified (D:20180314151216) endobj << /StructParents 16 << endobj << Working At Theranos: Employee Reviews And Culture - Zippia << 50 0 obj /P 59 0 R /Lang (EN-US) /K 7 << /Lang (EN-US) Department of Justice /Annots [] /S /LI THERANOS FOUNDER ELIZABETH HOLMES TO FACE TRIAL SEPARATE FROM EX-LOVER. /StructParents 11 /S /LI Zippia Score 4.7. endobj /Pg 245 0 R endobj /CropBox [0 0 612 792] 132 0 obj /K 139 0 R /S /LI /K 197 0 R 372 0 obj /CropBox [0 0 612 792] << >> /Pg 248 0 R 172 0 obj 155 0 obj endobj << /S /LI /P 8 0 R << /P 40 0 R << /Pg 257 0 R << /S /P /Type /Pages endobj >> /Type /MCR endobj /Annots [] /P 319 0 R /Lang (EN-US) The mission statement of Theranos is stated as, "To make actionable information accessible to everyone at the time that it matters". >> /K 21 257 0 obj /S /LBody /Annots [] . /K 127 0 R endobj >> endobj >> << /P 55 0 R After all, one of Theranos top achievements was the very idea Holmes herself had developed an idea she never put through the rigor of scientific testing before defining its contours. The parable of Elizabeth Holmes and her company, Theranos, is not an unfamiliar one. /K [22 386 0 R] She already settled with the Securities and Exchange Commission (SEC) for a $500,000 penalty and 10-year ban on serving as an officer or director of a public company. /K 22 >> In a reply, Holmes said she was projecting $100 million for 2015, nearly ten times less than what she told investors at one point. /P 50 0 R /K 18 /P 50 0 R /Parent 14 0 R /S /LI 310 0 obj endobj << /S /LBody /K 181 0 R << /S /LBody The company grew to become a business worth billions. /Parent 14 0 R 186 0 obj /P 50 0 R /K 4 62 0 obj /Lang (EN-US) endobj /P 54 0 R /K [26 383 0 R] << /S /P /P 8 0 R /Lang (EN-US) 9 [null null 157 0 R null null null 158 0 R null null null << /S /P endobj /StructParents 21 /P 266 0 R 284 0 obj /K 135 0 R >> 308 0 obj /Pg 235 0 R /Pg 235 0 R /Annots [] /Pg 257 0 R >> /P 51 0 R 248 0 obj << /Pg 253 0 R /K 19 >> << 344 0 obj 277 0 obj /K 118 0 R /K [30 396 0 R] /P 8 0 R /K 6 >> >> << null null 121 0 R null null null 122 0 R null null null /S /LBody /Type /Page /Lang (EN-US) << The once-lauded businesswoman ultimately stepped down from the company, which announced in Sept. 2018 it would be closing. /K 193 0 R /Lang (EN-US) /Pg 235 0 R >> /Tabs /S 369 0 obj The Theranos scandal has dominated headlines, and both fascinated and appalled readers worldwide, since John Carreyrou's shattering report first broke in 2015. In opening statements, a federal prosecutor depicted Balwani as an instrumental accomplice who helped Holmes pull off a huge scam tied to Theranos' blood-testing technology. /Pg 235 0 R 136 0 obj 224 0 obj << /K 183 0 R << 38 0 obj Starbucks: Inspire and nurture the human spirit - one person, one cup and one neighborhood at a time. 347 0 obj 171 0 obj /Lang (EN-US) /Lang (EN-US) Mission statements, where crafted and utilized effectively, have been proven to drive billions of dollars in corporate value. 20 0 obj /Type /Page GET FOX BUSINESS ON THE GO BY CLICKING HERE. /Contents [445 0 R 446 0 R 447 0 R] /P 42 0 R /P 33 0 R /Pg 251 0 R Lessons from the Theranos Whistleblower - Ideas & Insights >> 339 0 obj 145 0 R null null null 146 0 R null null null 147 0 R null The first week of Theranos founder Elizabeth Holmes' fraud trial is now complete. /K 25 /P 50 0 R /S /LI /K 208 0 R 205 0 obj 147 0 obj 65 0 R 66 0 R 67 0 R 68 0 R 69 0 R 70 0 R 71 0 R 72 0 R 73 0 R 74 0 R endobj >> /S /LBody It included jury selection, opening statements, released text messages, and an unexpected . /P 389 0 R endobj /P 373 0 R /P 59 0 R << /Endnote /Note << endobj /S /LBody /P 315 0 R /P 63 0 R /P 51 0 R She now has "two very young children hertoddler and an infant," according to a recent court filing. endobj >> << /S /P /P 8 0 R /Type /Page /S /P /S /P /K 6 258 0 obj >> << She had a charisma to her; she was very articulate,Cheung saidof Holmes. << /K 2 76 0 obj /S /LI /Pg 256 0 R 3 min read. /P 42 0 R /P 48 0 R /S /P endobj >> endobj endobj Ms. Holmes's lawyers have said the entrepreneur dedicated 15 years to Theranos's mission and her only crime was having a startup that failed, as so many do /Lang (EN-US) endobj /Lang (EN-US) endobj Four years after the top two Theranos executives, Elizabeth Holmes and Ramesh "Sunny" Balwani, were first indicted together on a dozen federal fraud charges stemming from their time . endobj 27 0 obj Instead, a vision made boundless by its sharp divide from reality and its extraordinarily narrow goals ended up only perpetuating a state of motivated blindness. /K 390 0 R /P 55 0 R The indictment charges each defendant with two counts of conspiracy to commit wire fraud, in violation of 18 U.S.C. 206 0 R null null null 207 0 R null null null 208 0 R null endobj According to the indictment, Holmes and Balwani used advertisements and solicitations to encourage and induce doctors and patients to use Theranoss blood testing laboratory services, even though the defendants knew Theranos was not capable of consistently producing accurate and reliable results for certain blood tests. >> /K 18 PDF 1 JINA L. CHOI (NY Bar No. 2699718) ERIN E. SCHNEIDER (Cal. Bar - SEC /Pg 241 0 R endobj /Lang (EN-US) endobj /Pg 235 0 R 323 0 obj /K 32 /P 8 0 R /S /P /S /P << << Photographer: David Paul Morris/Bloomberg *** Local Caption *** Elizabeth Holmes. /Resources 456 0 R /K 126 0 R endobj /P 48 0 R >> /MCID 2 /Pg 242 0 R In part, according to the report, Theranos had neglected to use the device it marketed as the "lynchpin of its strategy," called the Edison, for the majority of the tests conducted. 64 0 obj /StructParents 1 /K 17 139 0 obj 175 0 obj /S /LI << >> /Annots [] Similarly, defendants purchased and used commercially-available analyzers to test patient blood, while representing to investors that Theranos conducted its patients tests using Theranos-manufactured analyzers. Your California Privacy Rights | Do Not Sell My Personal Information << The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. /K 163 0 R /P 381 0 R /K 22 >> /Pg 237 0 R /Pg 240 0 R /Parent 14 0 R >> 7 0 obj /Lang (EN-US) /S /P << 3 [null null 125 0 R null null 43 0 R null null 126 0 R null /P 50 0 R endobj << Sentencing Guidelines and the federal statute governing the imposition of a sentence, 18 U.S.C. >> uuid:08e7f9c5-06b3-4447-b9e6-d8f448ec8b85 /CropBox [0 0 612 792] /Pg 255 0 R /Lang (EN-US) /S /LBody >> /P 314 0 R endobj /K 19 . 215 0 obj 191 0 obj 31 0 obj /Pg 258 0 R /K 134 0 R stream 124 0 obj /S /LI Theranos representeda potential disruptor to costly and quasi-monopolistic healthcare players that would help people get the right cure at the right time. None of the information on this page has been provided or approved by Theranos. /K 10 /P 51 0 R Tim De Chant /K 22 >> << endobj endobj /Pg 254 0 R /Lang (EN-US) Market data provided byFactset. 380 0 obj The indictment charges each defendant with two counts of conspiracy to commit wire fraud, in violation of 18 U.S.C. /Pg 252 0 R /Lang (EN-US) /P 313 0 R /Annots [] /S /LI /S /LI 80 0 R 81 0 R 82 0 R] /P 8 0 R endobj /P 63 0 R >> /Lang (EN-US) /Lang (EN-US) 391 0 obj /Pg 235 0 R << Theranos CEO Elizabeth Holmes on her company and the landscape of U.S. diagnostic-lab industry. >> << << >> << << >> << << /StructParents 18 /CropBox [0 0 612 792] /Pg 242 0 R >> 227 0 obj $1 million bail: Student accused of attacking teacher's aide over Nintendo Switch, Consumer confidence: Optimism of US consumers declined in February, reflecting fears of a recession. A vision and its attached goals may inspire and motivate, but they can also severely contrive our ability to consider a broader set of possibilities or address contradictory information. >> endobj endobj << >> >> /CropBox [0 0 612 792] >> /S /LI endobj >> 162 0 obj /Tabs /S /S /LBody /Pg 254 0 R While some are vague affirmations, others can sharpen employees' minds and give them a sense of identity and belonging. /P 290 0 R /S /P 177 0 obj endobj >> >> >> /K 215 0 R endobj /S /LBody /K 198 0 R << >> Many of those statements were outright falsehoods or, more charitably, danced around the truth. 320 0 obj >> /S /LI -mission statement: to make actionable information accessible to everyone at the time it matters. /Pg 235 0 R /S /LI /K 1 /P 55 0 R /K 34 /K 11 >> << Best Companies to Work for in Palo Alto, CA, Best Start-up Companies to Work For in America, Best Health Care Companies to Work For in California, Best Start-up Companies to Work For in California, Best Companies to Work For in Palo Alto, CA, Best Health Care Companies to Work For in Palo Alto, CA, Best Start-up Companies to Work For in Palo Alto, CA. /Pg 242 0 R endobj /K 7 null null 174 0 R null null null 175 0 R null null null 281 0 obj /Pages 5 0 R /K 2 /S /LI /K 8 >> 232 0 obj << >> /K 161 0 R 388 0 obj Balwani, 53, of Atherton, Calif., was employed at Theranos from September of 2009 through 2016. >> 146 0 obj /S /LBody >> But in February, the pair had a number of charges dropped, excluding wire fraud.