<< /S /P We just didn't know what new form it would take. /Pg 252 0 R endobj Initially she funded Real-Time Cures with her co. /CropBox [0 0 612 792] /P 48 0 R stream /K 10 endobj << /K 6 /P 63 0 R endobj >> endobj /P 63 0 R /K 195 0 R /CropBox [0 0 612 792] /S /P endobj << << /Pg 242 0 R /K 233 0 R /Pg 258 0 R /Pg 241 0 R 234 0 obj /Lang (EN-US) /S /LI The Company's clinical laboratory offers comprehensive laboratory tests. /P 50 0 R /S /TD /S /LBody /K 183 0 R << Claiming and updating your company profile on Zippia is free and easy. There were . /Pg 249 0 R /Lang (EN-US) /S /P << /Type /Pages << /P 262 0 R << /P 278 0 R << /Author () null 233 0 R null null null 234 0 R null null 64 0 R 65 0 R /P 50 0 R >> 196 0 obj /Type /MCR endobj << << endobj << << /K 6 Holmes rocketed to Silicon Valley stardom nearly a decade ago when she started speaking publicly about Theranos's vision a small . /Lang (EN-US) >> << This conspiracy misled doctors and patients about the reliability of medical tests that endangered health and lives.. 224 0 obj >> << endobj 161 0 obj /Pg 235 0 R /Pg 245 0 R And while some have observed that her behavior showed various sociopathic tendencies, the relaxed aura that cheating in the service of a larger cause may afford the average person may amp up ethical risk far more than the risk posed by sociopathic individuals. /K 2 What we know for certain is that behind this particular corporate failure lies a cautionary tale of boundless visioning that all investors, entrepreneurs and organizations seeking breakthrough innovations should be interested in further understanding. /S /LI << /Filter /FlateDecode /S /P /Pg 240 0 R endobj /MCID 2 >> /P 8 0 R /S /LBody They are also attracted by the fact that behind the innovation and entrepreneurship are rules of law that require honesty, fair play, and transparency. /S /LI null null 191 0 R null null null 192 0 R null null] /P 50 0 R /Lang (EN-US) << << 73 0 obj /Rotate 0 endobj Recalls, Market Withdrawals and Safety Alerts, Inspections, Compliance, Enforcement, and Criminal Investigations, June 15, 2018: Theranos Founder and Former Chief Operating Officer Charged in Alleged Wire Fraud Schemes. /Contents [445 0 R 446 0 R 447 0 R] /Rotate 0 /K 210 0 R /MediaBox [0 0 612 792] 390 0 obj >> /K 132 0 R The indictment alleges Holmes and Balwani defrauded doctors and patients by making false claims concerning Theranoss ability to provide accurate, fast, reliable, and cheap blood tests and test results, and through omissions concerning the limits of and problems with Theranoss technologies. /P 266 0 R 1343. /Resources 476 0 R >> 156 0 obj /S /L /Lang (EN-US) /Pg 236 0 R /Annots [] Theranos stood as the next big breakthrough innovator in the healthcare industry offering an affirming achievement of the value of human ingenuity. /Pg 238 0 R The extraordinary entrepreneur on Fortune's June cover explains her mission and opportunity aheadWant to see more Fortune Video? /S /LI << /Tabs /S 383 0 obj 138 0 obj /P 271 0 R >> /Pg 250 0 R We searched far and wide for the best company mission statement examples. The indictment describes a number of schemes that defendants allegedly employed to mislead investors, doctors, and patients. /P 40 0 R 268 0 obj << /Parent 11 0 R >> /Type /MCR 276 0 obj /Lang (EN-US) /K 18 >> /K 11 GET FOX BUSINESS ON THE GO BY CLICKING HERE. << /Lang (EN-US) endobj /K 225 0 R /S /LBody << /Type /Pages /S /LI In his book Bad Blood, John Carreyrou documented accounts describing Elizabeth Holmes unwillingness to revise the original micro-Lab specs and her reported tendency to shut off whoever tried to provide realistic feedback or solutions to the technical problems Theranos was facing. /Pg 244 0 R 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 250 0 R All rights reserved. 357 0 obj >> The parable of Elizabeth Holmes and her company, Theranos, is not an unfamiliar one. /S /LBody The next witness was Erika Cheung, who was hired by Theranos out of undergrad as a lab associate. /K 18 /Lang (EN-US) /S /LBody /Type /MCR /Type /StructTreeRoot Opinions expressed by Forbes Contributors are their own. endobj /K 168 0 R /Lang (EN-US) /S /LBody << << /Parent 12 0 R /P 390 0 R Learn about working at Theranos from employee reviews and detailed data on culture, salaries, demographics, management, financial, and more. >> /Pg 247 0 R >> /K 5 /Contents [433 0 R 434 0 R 435 0 R] << /Pg 254 0 R 2. /P 55 0 R >> /CropBox [0 0 612 792] 92 0 obj /S /LI Theranos is a private health care and life sciences company with the stated mission to revolutionize medical laboratory testing through allegedly innovative methods for drawing blood, testing blood, and interpreting the resulting patient data. >> In a reply, Holmes said she was projecting $100 million for 2015, nearly ten times less than what she told investors at one point. endobj >> /Rotate 0 291 0 obj /S /LI /Lang (EN-US) >> << /P 336 0 R /K 390 0 R /Subscript /Span /Pg 256 0 R << Theranos's mission statement is "To facilitate the early detection and prevention of disease and empower people everywhere to live their best possible lives.". /K 148 0 R 140 0 obj Theranos founder Elizabeth Holmes arrives at San Jose court, Theranos CEO on companys blood testing system. /Resources 428 0 R /Pg 256 0 R endobj Theranos went on to issue private stock in six rounds between 2014 and 2015, starting at 17 cents per share and ending at $17 per share, according to a document explained by Yam, with investors . endobj /K 136 0 R In fact, Yam relied heavily on Holmes for financial projections. /P 48 0 R /Annots [] << /K 4 /S /P However, any sentence following conviction would be imposed by the court after consideration of the U.S. /K 6 /P 171 0 R 233 0 obj /S /LI /K 12 41 0 obj 217 0 obj << << endobj /K 22 /CropBox [0 0 612 792] << >> endobj /Pg 246 0 R << endobj /P 40 0 R >> << /S /LBody >> For example, with respect to investors, defendants performed technology demonstrations during which defendants intended to cause potential investors to believe blood tests were being conducted on Theranoss proprietary analyzer when, in fact, the analyzer really was running a null protocol and was not testing the potential investors blood. /P 40 0 R << /K 9 /Lang (EN-US) /Pg 253 0 R /Lang (EN-US) endobj 314 0 obj << /Tabs /S CNMN Collection /Annots [] /P 42 0 R >> Legal Statement. 284 0 obj >> /Pg 235 0 R << Yam said she had never seen the document before, nor did she know where those numbers had come from. /S /P 334 0 obj >> Elizabeth Holmes, the infamous biotech chief executive who promised to revolutionize blood testing, has been found guilty of fraud. /K 14 >> /Type /MCR 324 0 obj >> /Placement /Block << << /P 48 0 R /Pg 250 0 R /S /LI << endobj endobj /CropBox [0 0 612 792] endobj Theranos Inc. (/ r. 322 0 obj << >> /Pg 244 0 R 190 0 obj << After asking questions about Theranos continued losses and lack of revenue, prosecutors showed Yam a document they said was shared with investors; it projected $140 million in revenue in 2014 and $990 million in 2015. 25 0 R 26 0 R 27 0 R 28 0 R 29 0 R 30 0 R 31 0 R 32 0 R 33 0 R 34 0 R /S /LBody 177 0 obj endobj And the company's downfall later became the focus of an HBO documentary, "The Inventor: Out for Blood in Silicon Valley. << /K 155 0 R /Lang (EN-US) << 354 0 obj 376 0 obj Theranos's mission statement is "To facilitate the early detection and prevention of disease and empower people everywhere to live their best possible lives." 179 0 obj Holmes only canceled the trip after prosecutors contacted Holmes attorneys about the unauthorized flight, prosecutors said. endobj /K 26 188 0 R null null null 189 0 R null null null 190 0 R null /P 33 0 R /A 259 0 R OUR MISSION listen to our readers and cover the topics that matter to them . /Lang (EN-US) /S /LI endobj 180 0 R null null null 181 0 R null null null 182 0 R null 84 0 obj /Type /Metadata /K 154 0 R /P 302 0 R /Parent 11 0 R endobj /S /P null] null null 136 0 R null null null 137 0 R null null] << /K 206 0 R >> Holmes dropped out of Stanford University at 19 to start the medical diagnostics company in 2003. /P 8 0 R 1. Theranos founder Elizabeth Holmes "lied and cheated" for money and fame, prosecutors alleged on the first day of the former Silicon Valley star's trial. 148 0 obj /S /P /Type /Page /Tabs /S 94 0 obj /Tabs /S /K 127 0 R /K 28 endobj << 279 0 obj /Resources 488 0 R /Lang (EN-US) >> 397 0 obj >> endobj /P 42 0 R /Pg 255 0 R 246 0 obj 335 0 obj /S /LBody << All rights reserved. /Lang (EN-US) /Pg 235 0 R /Pg 247 0 R >> /P 319 0 R /Pg 256 0 R endobj 251 0 obj /Lang (EN-US) endobj endobj /K 6 << 97 0 obj << endobj 255 0 obj endobj /K 26 << In fact, those challenges dwarfed in relation to the potential benefits of the vision the tech company eagerly shared with those with whom it wished to partner. 399 0 obj 338 0 obj /S /P >> >> << /P 42 0 R >> /S /LBody 25 0 obj 6 [null null 143 0 R null null null 144 0 R null null null /Lang (EN-US) /S /LI << 393 0 obj >> /P 360 0 R While working at Theranos, Cheung sent an email to others in the company, sharing her concerns about the Edison machines. 343 0 obj /Parent 14 0 R /Lang (EN-US) /K 166 0 R /S /LBody /Pg 237 0 R /K 124 0 R /Parent 13 0 R /S /P 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. >> 27 0 obj /Pg 249 0 R /K 135 0 R << /S /LBody >> However, any sentence following conviction would be imposed by the court after consideration of the U.S. 82 0 obj /K 14 /Parent 11 0 R Holmes grew up in Houston, Texas and studied chemical engineering at . << /S /LI endobj << endobj /P 8 0 R /StructParents 1 /Pg 238 0 R /Pg 253 0 R Theranos founder Elizabeth Holmes, now a mother of two,is asking to delay her11-year sentence for felony fraud so she can be at home with her two young children while she appeals theconviction. endobj 126 0 obj /P 50 0 R /Rotate 0 endobj endobj /S /LBody endobj /K 10 << endobj /Type /MCR /Pg 235 0 R /Lang /K 0 /Lang (EN-US) /P 380 0 R Starbucks: Inspire and nurture the human spirit - one person, one cup and one neighborhood at a time. /K 393 0 R endobj << Answer 1. /K 176 0 R /Lang (EN-US) endobj Connor Radnovich/The Chronicle. When Yam was working with an analytics firm to price stock options, she asked Holmes for some key financial forecasts, including projected revenue, because the CEO had the best information. During that process, Yam had emailed Holmes asking her how much revenue she was anticipating. The FDA would like to extend our thanks to our federal law enforcement partners for sending a strong message to Theranos executives and others that these types of actions will not be tolerated, said Catherine A. Hermsen, Acting Director, FDA Office of Criminal Investigations. >> /S /LI /ParentTreeNextKey 24 /S /P /S /LI Theranos founder and CEO Elizabeth Holmes speaks at the Fortune Global Forum in San Francisco, California, on Monday, Nov. 2, 2015. /K 16 /P 321 0 R endobj >> A sign outside of the headquarters of Theranos in Palo Alto, California on January 24, 2016. >> Theranos Mission Statement. Whistleblower and former Theranos lab tech Erika Cheung. /S /P /K 2 /Kids [250 0 R 251 0 R 252 0 R 253 0 R 254 0 R 255 0 R 256 0 R 257 0 R 258 0 R] /S /P >> >> 329 0 obj endobj /S /P /K 2 /Pg 249 0 R endobj endobj /S /LBody /P 307 0 R >> /K [8 94 0 R] The national average salary for a Theranos employee in the United States is $44,094 per year. /S /LI The defendants also delivered to doctors and patients blood test results from which critical results were improperly removed. /S /LBody endobj The parable of Elizabeth Holmes and her company, Theranos, is not an unfamiliar one. /P 55 0 R endobj endobj /P 40 0 R /P 300 0 R << /P 8 0 R /Pg 256 0 R endobj << 320 0 obj endobj /K 2 >> /CropBox [0 0 612 792] 347 0 obj Though highly desirable, these significant features were not as instrumental in the fulfillment of Theranos vision as they were initially pledged. Through these advertisements, the defendants explicitly represented to individuals that Theranoss blood tests were cheaper than blood tests from conventional laboratories to induce individuals to purchase Theranoss blood tests. << Leaving Little Space for Inspiration. 358 0 obj 214 0 obj /S /LBody 266 0 obj << << overstating the extent of Theranos' relationships with commercial partners and government entities, to whom they had also made misrepresentations . /Lang (EN-US) >> Total losses surpassed $800 million, prosecutors said. >> >> /K 14 /S /P /P 342 0 R 263 0 obj /S /LBody >> endobj /S /L endobj /Rotate 0 endobj 57 0 obj 227 0 R null null null 228 0 R null null] /Lang (EN-US) /P 8 0 R >> endobj << /S /LBody /K 223 0 R endobj /Type /MCR /Pg 251 0 R /K 11 /Lang (EN-US) /Lang (EN-US) /S /P 6 0 obj 159 0 R null null null 160 0 R null null null 161 0 R null /K 6 /P 283 0 R /S /LBody /Lang (EN-US) /S /LBody /K 169 0 R 332 0 obj null 110 0 R null null null 111 0 R null 112 0 R null 113 0 R endobj Yam said that Theranos lost $16.2 million in 2010, $27.2 million in 2011, $57 million in 2012, and $92 million in 2013. /Resources 452 0 R /Contents [477 0 R 478 0 R 479 0 R] << /Contents [449 0 R 450 0 R 451 0 R] 100 0 obj /Annots [] << 29 0 obj >> Getty Images. endobj And although entrepreneurship is very much about turning an imagined future state into reality, the vast and unchecked gap between Theranos vision and the technological incompetence of its operations was breathtaking. /S /LBody endobj /K 34 /Lang (EN-US) 325 0 obj endobj It claims its technology can work with just a finger prick. /Lang (EN-US) << Theranos is a private health care and life sciences company with the stated mission to revolutionize medical laboratory testing through allegedly innovative methods for drawing blood, testing blood, and interpreting the resulting patient data. /Pg 235 0 R /Tabs /S << 398 0 obj /S /LBody >> /K 30 172 0 obj << /P 8 0 R /K 218 0 R /Metadata 4 0 R /Lang (EN-US) 1. 166 0 obj /K 18 /P 50 0 R endobj /K 6 endobj endobj /Lang (EN-US) /Pg 238 0 R /Lang (EN-US) /Lang (EN-US) /S /LBody >> >> Theranos is a private health care and life sciences company with the stated mission to revolutionize medical laboratory testing through allegedly innovative methods for drawing blood, testing . 379 0 obj 145 0 R null null null 146 0 R null null null 147 0 R null FAQ - New Privacy Policy. /P 8 0 R >> endobj /Tabs /S /K 12 >> /K 222 0 R >> endobj /S /LI endobj 227 0 obj Follow Company. In 2013, things had "started to get a bit tight," Yam said. /K 196 0 R endobj << /Pg 255 0 R 313 0 obj >> /S /LBody Have you worked at Theranos? /Lang (EN-US) /Tabs /S U.S. Attorneys Office /S /LI /S /P /S /LBody application/pdf >> /P 286 0 R /Lang (EN-US) /S /P /Type /Page 116 0 obj /K 228 0 R 180 0 obj /K [15 0 R 16 0 R 17 0 R 18 0 R 19 0 R 20 0 R 21 0 R 22 0 R 23 0 R 24 0 R endobj endobj /Pg 238 0 R She had a strong sense of conviction to her mission., Cheung quit after seven months on the job and filed a whistleblower complaint with the Centers for Medicare and Medicaid Services, alleging that the company used expired lab supplies for tests run on its proprietary Edison testing devices, which themselves had major stability, precision, and accuracy problems., I was uncomfortable processing patient samples, she said. >> /StructParents 3 /P 8 0 R /Lang (EN-US) >> /Pg 251 0 R /P 51 0 R endobj /Resources 432 0 R endobj /Lang (EN-US) endobj /K 6 The company boasted the ability to get results from very small amounts of blood, something that would be revolutionary in medical diagnostics. /P 306 0 R /K 110 0 R >> /Pg 240 0 R /S /Sect >> 150 0 obj 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. /Lang (EN-US) endobj 239 0 obj D:20180314151216 /Lang (EN-US) But Theranos shared very little about its blood-testing machine with the public or medical community. /Pg 235 0 R >> /Lang (EN-US) Holmes, 34, of Los Altos Hills, Calif., founded Theranos in 2003. /P 50 0 R << Holmes unflappability may have made it difficult for Theranos board members and prospective clients to raise or press on with the right questions at the right time. >> The tests performed on Theranos technology, in addition, were likely to contain inaccurate and unreliable results. /S /LI /P 51 0 R /S /LI /K 179 0 R << /S /P endobj /P 48 0 R /S /LI << Theranos is a now-defunct healthcare technology startup founded by disgraced Stanford drop-out Elizabeth Holmes . << 295 0 obj 1 0 obj /Annots [] The company claimed to be able to provide over 240 finger-prick blood tests, including ones that could reportedly detect cancer, according to The Wall Street Journal. /Contents [398 0 R 399 0 R 400 0 R 401 0 R 402 0 R 403 0 R 404 0 R 405 0 R 406 0 R 407 0 R] >> endobj /S /LI 231 0 obj /S /LI /K 230 0 R /Pg 251 0 R endobj Market data provided byFactset. /K 12 /P 376 0 R /S /LI /S /P 103 0 obj /Lang (EN-US) /K 171 0 R endobj endobj /S /P /Parent 5 0 R 296 0 obj >> << << << /Pg 257 0 R << << 145 0 obj endobj /S /P /S /LI >> 9 [null null 157 0 R null null null 158 0 R null null null by Elizabeth Holmes. /Pg 239 0 R /P 330 0 R 171 0 obj /P 8 0 R << 285 0 obj /K [18 385 0 R] /P 326 0 R /K 12 /S /LBody /P 8 0 R >> /Pg 246 0 R /P 55 0 R << /Pg 237 0 R >> /Lang (EN-US) /MediaBox [0 0 612 792] << >> /Resources 468 0 R endobj /Lang (EN-US) 24 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 /K 24 /Kids [245 0 R 246 0 R 247 0 R 248 0 R 249 0 R] Nov 8, 2017. /Pg 244 0 R /Lang (EN-US) /P 48 0 R >> Holmes fostered a culture of fear because it served her needs. << /P 375 0 R endobj /S /LBody /P 51 0 R >> /P 55 0 R 54 0 obj /CropBox [0 0 612 792] << /S /LI The employees at Morgan Stanley earn an average yearly salary of $103,933 per year, and the salaries at National Journal average $73,533 per year. /ParentTree 9 0 R >> /P 46 0 R /S /P . /P 48 0 R /Count 9 /S /P The University recognizes the importance of its location in New York City and . << Creating something new is about breaking the status quo. 8 [null null 152 0 R null null null 153 0 R null null null Holmes dropped out of Stanford University at 19 to found Theranos in 2003. /S /P << 154 0 obj << /S /LBody null 24 0 R 25 0 R 26 0 R 27 0 R 28 0 R 29 0 R 30 0 R 31 0 R 32 0 R 236 0 obj ", EX-THERANOS CEO ELIZABETH HOLMES PROVIDING OWN DEFENSE IN CIVIL SUIT: REPORT. << /Lang (EN-US) /Pg 238 0 R /Pg 257 0 R 261 0 obj uuid:08e7f9c5-06b3-4447-b9e6-d8f448ec8b85 /Lang (EN-US) /Annots [] /P 51 0 R >> >> /K 163 0 R /K 5 /P 8 0 R 342 0 obj /P 381 0 R Easy acce View the full answer The defendants nevertheless used interstate electronic wires to purchase advertisements intended to induce individuals to purchase Theranos blood tests at Walgreens stores in California and Arizona. Theranos' mission was "to make actionable health information accessible to people everywhere in the world, at the time they most need it." It was a lofty, inspiring, and valiantly unifying purpose, . << 202 0 obj /Resources 464 0 R >> /Pg 237 0 R /P 361 0 R /Tabs /S 207 0 obj /K 232 0 R /S /LBody Attorneys Jeff Schenk, Robert S. Leach, and John C. Bostic are prosecuting the case with the assistance of Laurie Worthen and Bridget Kilkenny. /K 224 0 R >> /S /LBody /Annots [] /Lang (EN-US) Balwani, 53, of Atherton, Calif., was employed at Theranos from September of 2009 through 2016. /Lang (EN-US) 3. Elizabeth Holmes and her ill-fated blood-testing start up, Theranos, are the subjects of the latest exceptional read. /Pg 256 0 R << 2023 FOX News Network, LLC. /P 298 0 R 57 0 R 58 0 R null null 223 0 R null null null 224 0 R null << >> >> /P 48 0 R /Pg 237 0 R /Lang (EN-US) endobj /Parent 13 0 R /K 25 /K 175 0 R /Pg 248 0 R endobj /S /L endobj /StructParents 11 /RoleMap 7 0 R /Lang (EN-US) >> null null 225 0 R null null null 226 0 R null null null endobj << /Type /MCR /S /LBody /P 331 0 R /P 270 0 R /P 380 0 R /Rotate 0 48 0 obj Holmes will head to trial starting Aug. 4, and Balwani will be tried afterthe conclusion of Holmes case, Bloomberg reported. /Contents [493 0 R 494 0 R 495 0 R] endobj /S /LBody /Pg 254 0 R /K 30 /P 48 0 R /S /P /S /LBody 288 0 obj << 88 0 obj endobj >> /Rotate 0 endstream !xRnE1$g9`8\\5g1^"z+. /Contents [497 0 R 498 0 R 499 0 R] /CropBox [0 0 612 792] >> >> /K 24 >> endobj endobj /P 316 0 R /Pg 248 0 R /K [111 0 R 112 0 R 113 0 R 114 0 R] << >> endobj >> << >> 307 0 obj /S /P /Pg 244 0 R /K 26 At the time, Holmes, 39,was a mother of a 1-year-old son and pregnant with another child. 287 0 obj /P 40 0 R << endobj << /P 8 0 R /Pg 250 0 R /K 2 >> 173 0 obj /S /P /S /LI /MediaBox [0 0 612 792] /K 177 0 R /S /LBody endobj 45 0 obj /Lang (EN-US) 353 0 obj 77 0 obj /Annots [] /Lang (EN-US) /Lang (EN-US) A March 17 hearing is scheduled on her request to stay out of prison during her appeal. /S /LBody /S /LI /Pg 257 0 R << /CropBox [0 0 612 792] Postal Inspection Service (USPIS) Inspector in Charge Rafael Nuez. Specifically, the defendants claimed that Theranos developed a revolutionary and proprietary analyzer that the defendants referred to by various names, including as the TSPU, Edison, or minilab. /Lang (EN-US) endobj %PDF-1.5 /Pg 244 0 R >> /Pg 237 0 R << Cultivating a boundless vision until the very end completely untethered from the status quo, rules, requirements and the demands of the here and now Holmes and Theranos were on a special kind of journey. Palantir has . /P 8 0 R /Tabs /S /Resources 472 0 R /K 122 0 R /Resources 436 0 R /Lang (EN-US) /P 341 0 R /Pg 249 0 R /K 9 /Contents [489 0 R 490 0 R 491 0 R] >> >> >> /StructParents 19 350 0 obj >> It was not only motivated blindness that may have triggered the slippery slope of unethical conduct at Theranos. endobj /Type /Page /S /LI /K 144 0 R 387 0 obj /Lang (EN-US) /Pg 235 0 R endobj /S /LI endobj endobj /Pg 258 0 R /Pg 248 0 R 194 0 R null null null 195 0 R null null null 196 0 R null /Creator (Acrobat PDFMaker 18 for Word) endobj /S /LBody Assistant U.S. Powered and implemented byFactSet Digital Solutions. 344 0 obj 151 0 obj /Annotation /Span /K 208 0 R << endobj 310 0 obj endobj /Pg 244 0 R /K 31 endobj /S /LI Fear a Culture of Fear. /K 128 0 R 341 0 R 342 0 R 343 0 R 344 0 R 345 0 R 346 0 R 347 0 R 348 0 R] /P 8 0 R 235 0 obj /StructParents 15 /P 48 0 R >> 365 0 obj endobj endobj /S /LI The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely. /Lang (EN-US) /P 284 0 R /K 34 such statements undermine confidence . /S /P << /MCID 2 68 0 obj /S /LBody /P 8 0 R >> /Pg 245 0 R >> /P 8 0 R 16 0 obj /S /LBody /Pg 250 0 R endobj /K [331 0 R 332 0 R 333 0 R 334 0 R 335 0 R 336 0 R 337 0 R 338 0 R 339 0 R 340 0 R endobj 226 0 obj 198 0 obj In reality, Theranos couldn't perform more than 12 tests on its Edison devices, former lab . << endobj /CropBox [0 0 612 792] 146 0 obj /BBox [79.9440002441 274.9559936523 453.9599914551 398.8439941406] << /K 10 endobj /K 6 null null 127 0 R null null 45 0 R null null 128 0 R null Northern District of California, FOR IMMEDIATE RELEASEFriday,June 15, 2018, Elizabeth Holmes and Ramesh Sunny Balwani Are Alleged to Have Perpetrated Multi-million Dollar Schemes to Defraud Investors, Doctors, and Patients. /P 8 0 R /Lang (EN-US) Morever, Holmes needs to grow a . /S /LI 296 0 R 297 0 R 298 0 R 299 0 R 300 0 R 301 0 R 302 0 R 303 0 R] /Type /MCR 50 0 obj 117 0 R null null null 118 0 R null null] null] 247 0 obj /Resources 424 0 R 131 0 obj /S /LBody /P 8 0 R /CropBox [0 0 612 792] >> endobj Holmes, who founded Theranos in 2003 at age 19 with the lofty mission of revolutionizing blood testing, has pleaded not guilty. At the peak of her career in 2015, Forbes estimated her net worth at $4.5 billion. endobj /S /P /Lang (EN-US) According to The Associated Press, the Journals investigation marked the beginning of the end of Theranos. /MediaBox [0 0 612 792] /S /P endobj /MCID 2 /K 120 0 R endobj >> 206 0 obj 59 0 obj /Pg 254 0 R 241 0 obj << /Pg 251 0 R /S /P 171 0 R null null] 282 0 obj /S /P /P 59 0 R /Pg 256 0 R /P 8 0 R 17 [null null 204 0 R null null null 205 0 R null null null /S /P >> << /K 125 0 R endobj Further, the indictment alleges that based on the defendants misrepresentations and omissions, many hundreds of patients paid, or caused their medical insurance companies to pay, Theranos, or Walgreens acting on behalf of Theranos, for blood tests and test results, sometimes following referrals from their defrauded doctors. >> >> >> 306 0 obj 229 0 obj For many years, in Facebook's case, its mission statement was "To give people the power to share and make the world more open and connected". /S /LI endobj /S /LBody /K 15 endobj >> /S /LBody 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. /P 320 0 R /P 8 0 R << endobj /K 26 /K 217 0 R 3553. << << /Parent 14 0 R 12 0 obj /K 9 << /Pg 239 0 R 391 0 obj /P 393 0 R /Artifact /P endobj Theranos gambit may have extended over time precisely because all four biases played a role in the making of a dream that was never fully tested against the constraints of reality. endobj Mutual Fund and . . /P 8 0 R /K 188 0 R endobj >> Since this form of unethical behavior may lack the pangs of guilt and/or shame that generally provide people with a certain amount of self-restraint and hesitation, it can be difficult for others to suspect any bad conduct. /S /LBody >> /Lang (EN-US) /K 14 << -mission statement: to make actionable information accessible to everyone at the time it matters. /Type /Page /P 51 0 R /TextBox /Art /CropBox [0 0 612 792] << /K 17 None of the information on this page has been provided or approved by Theranos. 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. endobj /Pg 239 0 R /Pg 243 0 R /Lang (EN-US) /Lang (EN-US) >> endobj Acrobat PDFMaker 18 for Word 206 0 R null null null 207 0 R null null null 208 0 R null >> The company grew to be worth more than $9 billion, employing more than800 employees attracting investors such asLarry Ellison, founder of Oracle; Rupert Murdoch, billionaire media mogul; and the Walton family, who founded Walmart.

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