Theranos founder Elizabeth Holmes found guilty

[Sankari]

They finally got her.

Elizabeth Holmes, the founder and former CEO of blood-testing company Theranos, on Monday was found guilty of conspiracy and fraud against certain investors by a California jury.

Why it matters: Holmes was the poster child of Silicon Valley hubris, taking "fake it till you make it" to illegal extremes.

She was found not guilty on several charges relating to patients and company ads in Arizona.

Holmes was found guilty of four charges of wire fraud and conspiracy to commit wire fraud with regards to certain investors (though the jury couldn't reach a verdict in the case of three counts relating to investors).

Holmes is expected to appeal. Each guilty verdict carries a maximum sentence of 20 years in prison though she would likely serve them concurrently, the New York Times notes.

This case was specifically about what Holmes told Theranos investors, although her lies also impacted partners and patients.

(Source).

I hope she wins a nice long holiday in prison.

 

[Sankari]

Aside from that ethos, I don't think this had much to do with Silicon Valley tbh... the big Silicon Valley VC firms all turned her down, aside from two small firms she didn't have much to do with silicon valley types - she did try to get funding from them but they actually asked about the tech and she couldn't provide answers.

Instead it was big PE firms that backed her and old school establishemnet types that mostly formed the advisory board.

^^ This.

The people who knew better, stayed well clear of her scam. It was the normies who only saw dollar signs that fell for it.

 

[Sankari]

She should have got 30 years without parole.