null] 85 0 obj /Type /Page /K 207 0 R /Lang (EN-US) << >> << /A 259 0 R Zippia gives an in-depth look into the details of Theranos, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Theranos. 377 0 obj >> /P 381 0 R endobj 274 0 obj << << 13 [null null 178 0 R null null null 179 0 R null null null endobj /Pg 245 0 R endobj /S /P /K 6 373 0 obj Once a strong believer in Theranos' mission, Mattis testified that he eventually realized the Holmes had misled him with empty promises. /S /LI << endobj >> /Lang (EN-US) /P 39 0 R /P 8 0 R /S /LI /P 8 0 R /S /LBody << /P 3 0 R The United States Postal Inspection Service has a long history of successfully investigating complex fraud cases, said Inspector in Charge Rafael E. Nuez. endobj << /S /P << /Contents [449 0 R 450 0 R 451 0 R] >> /P 50 0 R 3480 /K 6 /Lang (EN-US) /K 188 0 R /P 376 0 R /K [354 0 R 355 0 R 356 0 R 357 0 R 358 0 R 359 0 R 360 0 R 361 0 R 362 0 R 363 0 R << /P 8 0 R /Pg 235 0 R >> /Parent 12 0 R /K 10 /ModDate (D:20180314090210-07'00') /Lang (EN-US) endobj /S /LBody /Lang (EN-US) << endobj 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. >> << 73 0 obj endobj /K 35 /K 29 /K 49 /P 347 0 R endobj 281 0 obj /K 204 0 R 19 [null null 215 0 R null null null 216 0 R null null null /Lang (EN-US) >> << /S /P 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. 156 0 obj /P 8 0 R /Lang (EN-US) << 340 0 obj /S /LBody In addition, the defendants delivered to doctors and patients blood results that were inaccurate, unreliable, and improperly validated.
Hot Startup Theranos Has Struggled With Its Blood-Test Technology /S /P /P 40 0 R >> << >> /Lang (EN-US) << /Lang (EN-US) << endobj <<
Lessons from the Theranos Whistleblower - Ideas & Insights PDF 510(k) SUBSTANTIAL EQUIVALENCE DETERMINATION - Food and Drug Administration 225 0 obj /P 290 0 R This is how Theranos's huge valuation was birthed and where a critical legal problem lies. 283 0 obj 293 0 obj << 222 0 obj 399 0 obj U.S. Attorneys Office 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. /Kids [240 0 R 241 0 R 242 0 R 243 0 R 244 0 R] . endobj /K [262 0 R 263 0 R 264 0 R 265 0 R 266 0 R 267 0 R] 276 0 obj /P 48 0 R This district, led by Silicon Valley, is at the center of modern technological innovation and entrepreneurial spirit; capital investment makes that possible. /Pg 235 0 R /K 173 0 R endobj 250 0 obj endobj << /Pg 254 0 R If convicted, the defendants face a maximum sentence of twenty (20) years in prison, and a fine of $250,000, plus restitution, for each count of wire fraud and for each conspiracy count. /S /LI 1343. >> endobj /P 48 0 R /Pg 243 0 R 23 0 obj /Tabs /S /P 380 0 R << /Lang (EN-US) /CropBox [0 0 612 792] 126 0 obj /S /P << /Lang (EN-US) 390 0 obj Rankings are based on government and proprietary data on salaries, company financial health, and employee diversity. 96 0 obj /Lang (EN-US) 117 0 R null null null 118 0 R null null] In the end, the innovations Theranos was after were not only meant for its own success but to secure a better future for millions of people. /StructParents 21 >> /P 8 0 R /P 267 0 R 152 0 obj /Pg 258 0 R >> /S /P /P 302 0 R /S /P /P 8 0 R /S /LI 91 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. >> endobj << All rights reserved. /K [8 94 0 R] endobj 11 [null null 169 0 R null null null 170 0 R null null null << The parable of Elizabeth Holmes and her company, Theranos, is not an unfamiliar one. endobj endobj /Subtype /XML /K 37 endobj /P 8 0 R /Pg 247 0 R endobj /P 8 0 R /Chart /Figure /P 48 0 R 160 0 obj All rights reserved. 17 [null null 204 0 R null null null 205 0 R null null null /S /LI /P 34 0 R endobj endobj 313 0 obj /Lang (EN-US) Theranos founder Elizabeth Holmes arrives at San Jose court, Theranos CEO on companys blood testing system. << /S /LI 37 0 obj << /P 374 0 R endobj /S /LBody >> << endobj /Lang (EN-US) /K 6
What Is Theranos CEO Elizabeth Holmes' Net Worth As Founder - Newsweek endobj 231 0 obj << endobj endobj >> endobj /K 231 0 R << 342 0 obj 34 0 obj /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 >> /Pg 258 0 R /Resources 428 0 R Help other job seekers by rating Theranos. /P 48 0 R << >> << /S /P 395 0 obj >> 369 0 obj /S /TD Before sharing sensitive information, make sure you're on a federal government site. endobj /S /P 158 0 obj << /Lang (EN-US) It included jury selection, opening statements, released text messages, and an unexpected . /K 28 /Resources 472 0 R /P 8 0 R endobj /Pg 254 0 R << /S /P Theranos wanted to make detailed blood sample analysts accessible to all doctors in a timely manner. /Rotate 0 Ad Choices, Theranos founder Elizabeth Holmes on trial as jury selection begins, Theranos downfall due to elaborate $4M conspiracy, investor says. >> >> /Lang (EN-US) /S /LBody << endobj /S /LBody >> /Lang (EN-US) 174 0 obj /P 8 0 R In November 2022, Holmes was sentenced to 135 months in prison for defrauding investors in the failed Silicon . Investors who put a total of $632 million into Theranos in its latest funding round from 2014 to 2015 included " Rupert Murdoch and family-controlled Cox Enterprises Inc., -- [Cox family holdings . /K 2 >>
Theranos Founder Elizabeth Holmes Found Guilty of Investor Fraud >> 315 0 obj /S /LI /Pg 247 0 R Theranos's mission statement is "Our mission is to make actionable information accessible to everyone at the time it matters". /Pg 255 0 R /Pg 244 0 R << /K 211 0 R /Pg 235 0 R
Theranos burned through $2M a week as investors were given rosy endobj 103 0 obj endobj /Pg 256 0 R << endobj >> There are at least four biases that can let a belief about a desired future state shape reality despite its disconnectedness from reality. /Lang (EN-US) /K 12 >> /Pg 238 0 R 14 0 obj << << /Lang (EN-US) 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 /LBody /Pg 241 0 R << /S /P >> endobj >> /P 371 0 R endobj << >> /P 40 0 R By 2017, scientific and medical and technical boards were established. /Lang (EN-US) endobj 71 0 obj /S /P Surprisingly, few paid much attention to that unchecked gap before the truth began to come out. % /Pg 251 0 R /S /LBody /Parent 11 0 R >> /CropBox [0 0 612 792] 286 0 obj /K 15 >> With /K 139 0 R endobj /P 8 0 R /S /LBody endobj /S /LI /K 0 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. endobj endobj << endobj /P 381 0 R But constantly focusing on a desired future state may have the effect of giving extra highlight to the positives of a distant vision at the expense of the operational challenges that are taking place in the here and now. /S /LI %PDF-1.5 /Pg 242 0 R /Pg 247 0 R 6 0 obj /Pg 235 0 R >> /Kids [245 0 R 246 0 R 247 0 R 248 0 R 249 0 R] /Lang (EN-US) /K 155 0 R /Pg 243 0 R null 233 0 R null null null 234 0 R null null 64 0 R 65 0 R >> /Type /MCR endobj << 178 0 obj 82 0 obj << /Lang (EN-US) /P 8 0 R >> 121 0 obj endobj 1. endobj endobj /Lang (EN-US) endobj /Strikeout /Span 346 0 obj 133 0 obj /P 288 0 R /Tabs /S Yam said she had never seen the document before, nor did she know where those numbers had come from. 259 0 obj /S /LBody 133 0 R null null null 134 0 R null null null 135 0 R null >> /K 22 360 0 obj << 330 0 obj << /Pg 235 0 R
Understanding the Theranos Scandal: 'I Make All the Decisions Here.' << 5 0 obj
Theranos Flashcards | Quizlet endobj /P 351 0 R
How Mission Statements Have Created Billions in Value | Toptal >> 2018-03-14T08:41:27-07:00 26 0 obj 168 0 obj /P 8 0 R 159 0 obj /P 334 0 R endobj endobj /S /LI /MediaBox [0 0 612 792] endobj /K 146 0 R /K 208 0 R /P 42 0 R /K [374 0 R 375 0 R 376 0 R 377 0 R 378 0 R 379 0 R] /S /P /P 8 0 R endobj endobj endobj endobj /S /LBody endobj 129 0 obj endobj The indictment charges each defendant with two counts of conspiracy to commit wire fraud, in violation of 18 U.S.C. Theranos's mission statement is "To facilitate the early detection and prevention of disease and empower people everywhere to live their best possible lives." /Pg 235 0 R . >> /S /LBody /K [30 396 0 R] 239 0 obj /S /L /P 324 0 R /Pg 248 0 R /Pg 243 0 R Investors large and small from around the world are attracted to Silicon Valley by its track record, its talent, and its promise. /MCID 2 272 0 obj << Peter DaSilva/Reuters. Many of those statements were outright falsehoods or, more charitably, danced around the truth. 217 0 obj >> /S /P endobj 69 0 obj endobj << 183 0 obj >> Theranos Inc. founder Elizabeth Holmes was criminally charged in June 2018 with defrauding investors following the collapse of her blood-testing startup. endobj /P 8 0 R /S /LBody 257 0 obj endobj /P 381 0 R
Elizabeth Holmes wants to delay her prison sentence after giving birth /Lang (EN-US) /Pg 252 0 R 328 0 obj 81 0 obj << /CropBox [0 0 612 792] /MediaBox [0 0 612 792] 30 0 obj /Pg 250 0 R << Department of Justice endobj << /S /P endobj /S /L /K 187 0 R << /P 8 0 R >> /S /LI /P 44 0 R 167 0 obj << endobj /Lang (EN-US) 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 endobj /K 31 >> >> /Lang (EN-US) /K 116 0 R >> 265 0 obj /Annots [] /K 182 0 R << 117 0 obj <<
Elizabeth Holmes Mission | Full Interview Fortune MPW - YouTube In fact, Yam relied heavily on Holmes for financial projections. /P 166 0 R << << 79 0 obj /P 355 0 R /P 50 0 R /Lang (EN-US) /S /LI /K 32 112 0 obj /Count 5 /Lang (EN-US) /P 8 0 R endobj The defendants knew Theranos was not capable of consistently producing accurate and reliable results for certain blood tests, including the tests for calcium, chloride, potassium, bicarbonate, HIV, Hba1C, hCG, and sodium. /S /LBody << /S /LI endobj /S /P /K 150 0 R endobj >> /K 261 0 R /P 300 0 R /Pg 252 0 R /K [26 397 0 R] /K 26 /CropBox [0 0 612 792] Tech workers are using company mission statements to hold their CEOs accountable. /K 10 /P 63 0 R /Lang (EN-US) 171 0 obj /P 55 0 R endobj << null null 142 0 R null null null 143 0 R null null] /S /LI << >> For example, allegedly, Holmes and Balwani knew that the analyzer, in truth, had accuracy and reliability problems, performed a limited number of tests, was slower than some competing devices, and, in some respects, could not compete with existing, more conventional machines. /P 8 0 R endobj /Lang (EN-US) /S /LI 159 0 R null null null 160 0 R null null null 161 0 R null << 310 0 obj endobj /K 21 October 2015, the first in a series of Wall Street Journal articles challenged Theranos technology and expertise; by mid-2016, the advisory board disappeared and a fiduciary board was created. /K 174 0 R Holmes was found guilty on four felony fraud counts associated with a loss to victims of at least $120 million. >> 329 0 obj Balwani, 53, of Atherton, Calif., was employed at Theranos from September of 2009 through 2016. /ParentTree 9 0 R Holmes, Balwani, and Theranos also made false or misleading statements to investors about many aspects of Theranos' business, including the capabilities of its proprietary 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 /K 9 << /Type /Page 392 0 obj /K 7 207 0 obj /S /P The .gov means its official.Federal government websites often end in .gov or .mil. << Four Blind Spots at the Core of Theranos' Failure. endobj The request for Holmes toremain free pending an appeal, filed Feb. 23 with the U.S. District Court for the Northern District of California, did not say when Holmes had her second baby. 200 0 obj /K [28 391 0 R] 109 0 obj Mutual Fund and . /Pg 242 0 R
June 15, 2018: Theranos Founder and Former Chief Operating Officer /Pg 235 0 R /K 6 << 118 0 obj 187 0 obj endobj endobj The extraordinary entrepreneur on Fortune's June cover explains her mission and opportunity aheadWant to see more Fortune Video? /K 117 0 R /P 42 0 R endobj /Resources 500 0 R /Pg 235 0 R >> 185 0 R null null] /Lang (EN-US) >> endobj /Lang (EN-US) << /StructTreeRoot 3 0 R << /P 59 0 R /P 323 0 R endobj /K 1 Zippia's Best Places to Work lists provide unbiased, data-based evaluations of companies. endobj He . 398 0 obj << /Lang (EN-US) >> endobj /Lang (EN-US) Government inspectors who arrived at Theranos in response to Cheungs letter found conditions similar to those in the complaint. /K 223 0 R /K 18 /MediaBox [0 0 612 792] << /S /LBody This material may not be published, broadcast, rewritten, or redistributed. >> /Lang (EN-US) /S /LBody << << 358 0 obj /K 6 /MediaBox [0 0 612 792] But in February, the pair had a number of charges dropped, excluding wire fraud. Balwani, who was convicted on 12 counts of fraud and conspiracy and sentenced to nearly 13 years in prison, is also seeking to remain free amidan appeal. 162 0 obj /S /LI >> /Pg 235 0 R >> /S /LBody endobj 387 0 obj >> << >> /StructParents 22 /K 14 >> << Claiming and updating your company profile on Zippia is free and easy. /P 321 0 R /S /P endobj endobj /S /P endobj /Lang (EN-US) The parable of Elizabeth Holmes and her company, Theranos, is not an unfamiliar one. /P 8 0 R /P 44 0 R 261 0 obj
Solved ChapterCase 12 Part II-Strategic Management 1. What | Chegg.com /P 287 0 R
Last word: Your mission statement, and what it says about you 382 0 obj 14 [null null 186 0 R null null null 187 0 R null null null >> >> >> >> endobj /S /P Elizabeth Holmes blue eyes and baritone voice, her, albeit incomplete, Stanford credentials and well-crafted life narrative were the perfect exterior to a dream-come-true vision of a better future for millions of people. A mission that reads more like a fact sheet than something that explains a company's reason for existing won't be effective. /K 10 /Pg 247 0 R /K 197 0 R Holmes, at one point the nations youngest self-made female billionaire, and her former chief operating officer Ramesh Balwani, were indicted by federal prosecutors in June 2018 and charged with two counts conspiracy to commit wire fraud and nine counts of wire fraud each. >> /Lang (EN-US) /S /P /S /LI null] /S /LI 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. /K 137 0 R /Pg 250 0 R /S /LBody /P 318 0 R 180 0 obj /K [22 386 0 R] /K 221 0 R /K [26 383 0 R] /K 181 0 R /K 157 0 R endobj /P 40 0 R The Theranos scandal has dominated headlines, and both fascinated and appalled readers worldwide, since John Carreyrou's shattering report first broke in 2015. << /S /LI >> /S /Span /S /LBody /Pg 235 0 R >> endobj null] 298 0 obj /P 292 0 R According to the March 2018 statement from the SEC, Theranos, . /S /P << >> endobj /P 8 0 R /P 333 0 R /P 48 0 R >> Theranosonce valued at approximately $10 billionis no more. /CropBox [0 0 612 792] 107 0 obj /P 48 0 R
Former Theranos employees are still shaken as Elizabeth Holmes - CNBC 347 0 obj << /Lang (EN-US) /K 14 /K 6 endobj endobj endobj 302 0 obj endobj Have you worked at Theranos? Did you ever provide financial projections to investors? Robert Leach, an assistant US attorney,asked Yam. 316 0 obj /Lang (EN-US) /K 14 endobj /K 14 They proposed revoking the companys license to test human specimens. 15 0 obj endobj >> << Terry Masson (Founder and Chief Executive Officer). << /P 51 0 R /K 9 /Contents [469 0 R 470 0 R 471 0 R] Former Theranos board member and former Secretary of Defense James "Mad Dog" Mattis testified last week in the criminal trial of former Theranos CEO Elizabeth Holmes. 51 0 obj /S /LI 141 0 obj endobj >> 203 0 obj /P 330 0 R >> /Lang (EN-US) 131 0 obj /S /LI /Pg 237 0 R 314 0 R 315 0 R 316 0 R 317 0 R 318 0 R 319 0 R 320 0 R 321 0 R 322 0 R 323 0 R