/P 279 0 R /Lang (EN-US) /S /LBody /K 33 endobj /P 368 0 R >> /K 12 316 0 obj /S /LI /Tabs /S /S /L 398 0 obj /Annots [] /K 14 endobj /K 125 0 R While working at Theranos, Cheung sent an email to others in the company, sharing her concerns about the Edison machines. /K 149 0 R >> Overview Salary Revenue History Demographics Competitors CEO & Executives. >> 91 0 obj 202 0 obj /K 204 0 R If convicted, they could each face maximum penalties of 20 years in prisona $2.75 million fine and possiblyrestitution, the Department of Justice said. 335 0 obj /K 18 /Type /Page >> /P 8 0 R /P 50 0 R 10 [null null 163 0 R null null null 164 0 R null null null /S /LBody /S /P /K 4 /K 20 >> 123 0 obj endobj /P 334 0 R /P 8 0 R /P 63 0 R /K 210 0 R /K 232 0 R /K 18 << /K 14 A sign outside of the headquarters of Theranos in Palo Alto, California on January 24, 2016. << << /S /LBody endobj /Pg 235 0 R 254 0 obj >> >> /Parent 14 0 R >> << 389 0 obj /Pg 246 0 R /K 6 207 0 obj /P 372 0 R /P 8 0 R /K 188 0 R endobj /S /LBody 2018-03-14T09:02:10-07:00 /Lang (EN-US) /P 8 0 R /Pg 254 0 R /Type /Page /K 10 /Lang (EN-US) /K [262 0 R 263 0 R 264 0 R 265 0 R 266 0 R 267 0 R] endobj 83 0 obj endobj endobj >> /K [8 94 0 R] /P 280 0 R /S /LBody >> /P 260 0 R /Filter /FlateDecode >> /Pg 252 0 R Theranos Mission Statement. >> 282 0 obj /Pg 254 0 R /S /LBody The mission statement conveys no values such as honesty, transparency, or integrity. /S /LI >> << /S /P -mission statement: to make actionable information accessible to everyone at the time it matters. The False Promise of Silicon Valley's Quest to Save the World endobj 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. 221 0 obj /P 393 0 R Terry Masson (Founder and Chief Executive Officer). 180 0 R null null null 181 0 R null null null 182 0 R null endobj /S /LI /Contents [421 0 R 422 0 R 423 0 R] /S /LBody /K 116 0 R /K 27 /K 22 3553. 80 0 R 81 0 R 82 0 R] << 179 0 obj /Parent 11 0 R A mission that reads more like a fact sheet than something that explains a company's reason for existing won't be effective. /Pg 237 0 R Next to a perfectly dosed narrative of black turtlenecks, sprawling office facilities, glossy paper spreads and alluring marketing campaigns, the supposed Apple look-alike of the health technology industry tantalized investors and consumers with its mission, to facilitate the early detection and prevention of disease and empower people everywhere to live their best possible lives. Its no surprise that many bought into it. 3553. /P 335 0 R /K 22 /Pg 257 0 R endobj /S /TR Moreover, Theranos and Holmes made "false and misleading statements" in press accounts to bolster the startup's profile. << /K 115 0 R << 117 0 obj 148 0 obj /Lang (EN-US) << /O /Layout /S /P 9 [null null 157 0 R null null null 158 0 R null null null /K 161 0 R << I did not think the technology we were using was adequate enough to be engaging in that behavior.. /Pg 257 0 R /Resources 468 0 R Further, defendants allegedly represented to investors that Theranos had a profitable and revenue-generating business relationship with the United States Department of Defense and that Theranoss technology had deployed to the battlefield when, in truth, Theranos had limited revenue from military contracts and its technology was not deployed in the battlefield. 114 0 obj /Type /MCR endobj /Lang (EN-US) /S /LI /P 379 0 R 123 0 R null null null 124 0 R null null] /Pg 241 0 R Claiming and updating your company profile on Zippia is free and easy. << /S /LI Theranos founder Elizabeth Holmes charged with massive fraud - CNNMoney /Pg 240 0 R >> As years went by, whenever employees or experts raised warnings . 260 0 obj 88 0 obj /K 151 0 R /Parent 11 0 R << /S /P /CropBox [0 0 612 792] /S /LI Theranos Flashcards | Quizlet /StructParents 3 /S /P /K 22 endobj << Photographer: David Paul Morris/Bloomberg *** Local Caption *** Elizabeth Holmes. /S /LI 45 0 R 46 0 R 47 0 R 48 0 R 49 0 R 50 0 R 51 0 R 52 0 R 53 0 R 54 0 R endobj /StructParents 7 198 0 obj >> 111 0 obj >> 332 0 obj The company claimed that it had devised . endobj 176 0 obj endobj /S /LI << /TextBox /Art Getty Images. /S /LI /Lang (EN-US) /Parent 14 0 R /P 271 0 R endobj endobj << 263 0 obj /Lang (EN-US) As company founder Elizabeth Holmes is sentenced to over eleven years in prison and TV adaptation The Dropout earns star Amanda Seyfried an Emmy, we reveal everything you need to know about the Theranos controversy. Theranos whistleblower toasted Elizabeth Holmes verdict - New York Post /P 317 0 R /P 55 0 R 272 0 obj << 393 0 obj 183 0 obj << << /K 9 35 0 obj >> 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. 24 0 obj 73 0 obj << n. o s /) was an American privately held corporation that was touted as a breakthrough health technology company. /Lang (EN-US) 99 0 obj /Pg 257 0 R /Tabs /S /K 22 /P 299 0 R << /Lang (EN-US) overstating the extent of Theranos' relationships with commercial partners and government entities, to whom they had also made misrepresentations . /P 8 0 R /Parent 12 0 R 201 0 obj The startup was founded in Feb. 2014, was headquartered in Palo Alto, Calif., according to Bloomberg. 342 0 obj 286 0 obj << >> >> /Resources 420 0 R /Pg 249 0 R endobj >> 117 0 R null null null 118 0 R null null] 76 0 obj /K 9 The company boasted the ability to get results from very small amounts of blood, something that would be revolutionary in medical diagnostics. /Lang (EN-US) >> /P 51 0 R /K 6 /Pg 251 0 R Theranos was a privately held healthcare technology company founded by then 19-year-old Elizabeth Holmes in 2003. 5 [null null 137 0 R null null null 138 0 R null null null /K 0 /K 22 THERANOS FOUNDER ELIZABETH HOLMES TO FACE TRIAL SEPARATE FROM EX-LOVER. /Filter /FlateDecode /S /LBody << << endobj 140 0 obj /K 154 0 R /Pg 247 0 R Mirage Or Vision? Four Blind Spots At The Core Of Theranos - Forbes /Pg 236 0 R >> /K [26 384 0 R] 385 0 obj /K 6 109 0 obj /K 9 /Rotate 0 << Balwani, 53, of Atherton, Calif., was employed at Theranos from September of 2009 through 2016. << /Lang (EN-US) Mission statements, where crafted and utilized effectively, have been proven to drive billions of dollars in corporate value. >> How to run amok with $900M of VC funding /Lang (EN-US) << /K 18 Holmes, who founded Theranos in 2003 at age 19 with the lofty mission of revolutionizing blood testing, has pleaded not guilty. endobj /P 8 0 R << /S /LBody << 178 0 obj << >> /StructParents 20 endobj /S /P 44 0 obj endobj Founded in 2003, Theranos is an established company that loves to hire graduates from Pima Medical Institute, with 15.9% of its employees having attended Pima Medical Institute. /K 31 << 284 0 obj /P 295 0 R /Lang (EN-US) >> It's unclear whether Theranos' rise and fall will turn out to be a dazzling mirage of "would-be" business . endobj Peter DaSilva/Reuters. We searched far and wide for the best company mission statement examples. /Pg 242 0 R /Pg 255 0 R /S /LBody << /K 143 0 R >> << 240 0 obj /S /P /S /P 89 0 obj 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. >> /Lang (EN-US) /S /LI /S /LBody 283 0 obj /S /LI >> /S /LI 268 0 obj << /Lang (EN-US) 220 0 obj 174 0 obj /MCID 2 Those biases can be understood as the blindness brought about by what seems preeminently important, the righteousness generated by what sounds inherently right, the operational myopia triggered by what is situated far away from us and the sense of potency derived from endeavoring to create something new. Instead of sticking with them, Holmes and her team could have put an equal amount of energy and ingenuity into developing a safe user-friendly technique to draw the adequate amount of blood necessary. >> endobj /K 147 0 R >> endobj << The prosecution is the result of an investigation by the FDA Office of Criminal Investigations, the FBI, and the US Postal Inspection Service. 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. /Pg 250 0 R /Lang (EN-US) 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 Answer (1 of 7): In 2003, Elizabeth Holmes, then a sophomore studying chemical engineering at Stanford, founded a company called Real-Time Cures. /K 2 << /P 63 0 R The Theranos founder intentionally deceived investors, a US . /S /LBody What is Theranos? | Fox Business Government inspectors who arrived at Theranos in response to Cheungs letter found conditions similar to those in the complaint. endobj /Pg 235 0 R >> /K 230 0 R /P 8 0 R endobj endstream /S /LBody The parable of Elizabeth Holmes and her company, Theranos, is not an unfamiliar one. /P 311 0 R >> 274 0 obj << /P 316 0 R /Lang (EN-US) This district, led by Silicon Valley, is at the center of modern technological innovation and entrepreneurial spirit; capital investment makes that possible. endobj >> ] /Type /Catalog endobj << endobj /Type /Pages >> >> 18 [null null 209 0 R null null null 210 0 R null null null /S /LI /Pg 256 0 R /Pg 256 0 R Now a mom of two, ex-Theranos CEO Elizabeth Holmes wants to delay /P 54 0 R << 133 0 R null null null 134 0 R null null null 135 0 R null /P 8 0 R /P 48 0 R endobj Theranos burned through $2M a week as investors were given rosy /Length 501 0 R << endobj /Lang (EN-US) 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. >> 305 0 obj /K 6 /P 54 0 R /S /P /Pg 255 0 R /P 59 0 R /P 8 0 R /K 21 /K 51 /S /P /Rotate 0 Help other job seekers by rating Theranos. null] /P 51 0 R /P 34 0 R /Lang (EN-US) << endobj /S /LI /S /LBody 374 0 obj 93 0 R] >> stream
213 0 obj The defendants are charged with two counts of conspiracy to commit wire fraud and nine counts of wire fraud. /P 312 0 R null null null 231 0 R null null null 232 0 R null null << /Pg 240 0 R Theranosonce valued at approximately $10 billionis no more. /P 23 0 R /MCID 2 /P 321 0 R /S /LBody 48 0 obj 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. 311 0 obj /P 40 0 R endobj >> << According to the indictment, the defendants also allegedly made numerous misrepresentations to potential investors about Theranoss financial condition and its future prospects. 2 0 obj 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. >> /S /P << endobj The effects of cheating in the service of good are not only treacherous for those who cheat, but also for those who interact and deal with the cheaters. endobj << /S /P << (Photo by Kristoffer Tripplaar/AP). /K 14 /S /LBody /K 150 0 R 57 0 R 58 0 R null null 223 0 R null null null 224 0 R null /K 28 275 0 obj /S /LI endobj /S /P /P 48 0 R /P 8 0 R /K 130 0 R Consider Elizabeth Holmes obsession with producing as small a micro-Lab as possible or with using just a few drops of blood in order to conduct the myriad of tests Theranos promised. 206 0 R null null null 207 0 R null null null 208 0 R null /P 55 0 R /S /LI /K [18 385 0 R] /K 26 Creating something new is about breaking the status quo. /K 30 . >> /Rotate 0 /P 50 0 R /CropBox [0 0 612 792] endobj 130 0 obj /P 367 0 R endobj /K 128 0 R >> endobj The Securities and Exchange Commission today charged Silicon Valley-based private company Theranos Inc., its founder and CEO Elizabeth Holmes, and its former President Ramesh "Sunny" Balwani with raising more than $700 million from investors through an elaborate, years-long fraud in which they exaggerated or made false statements about the company's technology, business, and financial . >> endobj endobj endobj /Pg 254 0 R >> 329 0 obj /DropCap /Figure /StructTreeRoot 3 0 R endobj 364 0 R 365 0 R 366 0 R 367 0 R] /P 375 0 R /ParentTreeNextKey 24 /P 55 0 R >> /P 50 0 R /P 267 0 R endobj /K 14 >> << /P 50 0 R 49 0 obj /P 48 0 R << Its not uncommon for startups to lose money in their early years, and its not entirely unusual for the fastest burn rate to happen right before things turn around. /P 50 0 R Holmes dropped out of Stanford University at 19 to found Theranos in 2003. /K 2 endobj 25 0 obj 231 0 obj /Lang (EN-US) /Lang (EN-US) endobj endobj /P 55 0 R << endobj /Pg 253 0 R 139 0 obj /Tabs /S /Lang (EN-US) /S /LBody Mirage or Vision? Four Blind Spots at the Core of Theranos' Failure 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 << >> 128 0 obj In November 2022, Holmes was sentenced to 135 months in prison for defrauding investors in the failed Silicon Valley startup that sought to revolutionize blood testing. /Type /Pages 2018-03-14T09:02:10-07:00 84 0 obj endobj /Contents [433 0 R 434 0 R 435 0 R] /K 14 /Lang (EN-US) 10 0 obj 55 0 R 56 0 R 57 0 R 58 0 R 59 0 R 60 0 R 61 0 R 62 0 R 63 0 R 64 0 R 23 [83 0 R 84 0 R 85 0 R 86 0 R 87 0 R 88 0 R 89 0 R 90 0 R 91 0 R 92 0 R /S /L endobj >> /Lang (EN-US) /Lang (EN-US) 162 0 obj << 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. /P 8 0 R /K 18 Theranos scandal: Who is Elizabeth Holmes and why was she on trial? 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 << endobj /Placement /Block /Annots [] 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. /Lang (EN-US) /Tabs /S << /P 360 0 R 224 0 obj /MediaBox [0 0 612 792] /S /LI >> /Pg 241 0 R >> 394 0 obj /P 263 0 R /P 380 0 R Balwani, 53, of Atherton, Calif., was employed at Theranos from September of 2009 through 2016. /P 44 0 R /Lang (EN-US) 294 0 obj The defendants also delivered to doctors and patients blood test results from which critical results were improperly removed. /MCID 2 /Lang (EN-US) >> /Nums [0 [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 94 0 R /S /P /MCID 2 375 0 obj Join the Ars Orbital Transmission mailing list to get weekly updates delivered to your inbox. /S /LI /MCID 2 << /S /LBody /Resources 500 0 R endobj endobj 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. /K 6 endobj /Pg 258 0 R 127 0 obj /S /LI >> endobj /Lang (EN-US) /P 40 0 R >> /Lang (EN-US) /S /L Competitors of Theranos include Bloomberg, Morgan Stanley, and National Journal. << /S /LI >> 17 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 399 0 obj 256 0 obj /S /LI /Annots [] >> /MediaBox [0 0 612 792] << /Pg 236 0 R << 142 0 obj << /S /P endobj >> /S /P emblazoned in block capitals in the Theranos lobby, was 'Do or do not. /StructParents 12 /MediaBox [0 0 612 792] << +1 (202) 442-3507. >> endobj /Lang (EN-US) 336 0 obj 101 0 obj endobj /S /P /K 148 0 R /K 216 0 R /K 168 0 R /P 8 0 R /Lang (EN-US) << /S /LI The data presented on this page does not represent the view of Theranos and its employees or that of Zippia. /K 167 0 R The story raised concerns about the accuracy of Theranos blood-testing technology, which put patients at risk of having conditions either misdiagnosed or ignored. Starbucks: Inspire and nurture the human spirit - one person, one cup and one neighborhood at a time. << The Journal reported that in 2015, the technology was only used for 15 tests. endobj /Lang (EN-US) It then allegedly used those articles to generate financial interest. << /P 8 0 R In addition, the defendants delivered to doctors and patients blood results that were inaccurate, unreliable, and improperly validated. /S /LI >> Working At Theranos: Employee Reviews And Culture - Zippia /Pg 242 0 R >> /K 0 >> endobj /Resources 408 0 R endobj endobj 372 0 obj >> /Pg 239 0 R endobj /Pg 238 0 R 102 0 obj Here's Robert Leach, assistant U.S. attorney, who is prosecuting the case against Holmes: "This is a case about fraud, about lying and cheating to get money," Leach says. /P 8 0 R /K 159 0 R At the peak of her career in 2015, Forbes estimated her net worth at $4.5 billion. There were . << /Pg 252 0 R /K 191 0 R /Pg 238 0 R /S /LI /Diagram /Figure endobj /Count 5 /K 30 /Lang (EN-US) How Theranos's Big Investors Were Taken - Forbes endobj /K 22 /K 10 Washington, DC. /Lang (EN-US) endobj << >> null null 183 0 R null null null 184 0 R null null null /Contents [437 0 R 438 0 R 439 0 R] /MediaBox [0 0 612 792] Theranos' mission is to make actionable health information accessible to people everywhere in the world at the time it matters, enabling early detection and intervention of disease. /S /LBody Theranos stood as the next big breakthrough innovator in the healthcare industry offering an affirming achievement of the value of human ingenuity. 135 0 obj 189 0 obj /CropBox [0 0 612 792] /Annots [] /K 223 0 R >> /S /P /K 14 204 0 obj >> /CropBox [0 0 612 792] /K 155 0 R /Contents [449 0 R 450 0 R 451 0 R] >> /P 268 0 R Mission statement examples: 16 of the best to inspire you /Pg 243 0 R