This con is mind boggling, especially because apparently she swindled _everyone_. It's not like a small group knew what was going on. It seems like no one knew anything but her.
You have a good counter-point, but consider this example:
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.
Elizabeth Holmes for president in 2020, she has the skills and mindset to do it. Ok, that joke was in bad taste. Can't hurt to have a giggle about unfortunate happenings, though.
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.
I don't feel sorry for these big names. What big guys do to pre-IPO companies is same as what hedge funds on wall street: take 5% position in a company and 'pump' it on media (CNBC, WSJ). And the retail follows, thereby increasing the stock price.
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[ 17.5 ms ] story [ 582 ms ] threadWhat 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.
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.