This has been obvious to observers for quite some time. Many people were intensely skeptical of Theranos’ claims, which seems more magical thinking that hard science. I’m surprised it took the SEC this long.
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Back in 2014, people with common sense were ridiculed as "not getting it" And the media blindly hyped her up.
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Not all media. I read a few critical pieces. This is the worst side of Silicon Valley - people chasing smoke while in pursuit of the next unicorn.
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Our broken legal system:
#ElizabethHolmes of#Theranos defrauds investors of $700 million but will serve zero time behind bars while our prisons are filled with young African American men for stealing pennies. Shameful! - 1 more reply
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After CEO makes 100's of million $$, she hit with a $500K fine. Who says crime does not pay???
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no jail - pays back 500k chump change after raking in 700 million - meanwhile, black guys get 5 to 10 for weed (which, correct me if I'm wrong, is pretty much legal now)
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The Fyre Festival guy received years in prison for the same thing. She did more damage and got nothing but a fine her parents will pay. Talk about privilege.
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“DARLING”... “STRIPPED”.... **rolls eyes**
#wordsmatter - 1 more reply
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Is "Silicon Valley Darling" a new euphemism for total fraud?
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$500K fine, no criminal prosecution? The SEC should be investigated by a dentist, they apparently have no teeth.
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About time. I've never figured out how a dropout could be in charge of something that should require a degree in science.
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Agree. Health plans have HS grads as directors rather than degrees pharmacists. No wonder Healthcare is in chaos. (Fraud factories)
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If Holmes was a male she would be in prison. Gets a slap on the wrist for massive fraud and stealing $700M.
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Wow you'd kind of think if somebody defrauded a bunch of investors like this she'd be in jail and only a $500k fine doesn't seem like much for a multi-millionaire does it?
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