In perhaps the greatest fraud in the history of the Silicon Valley tech boom, Norah O'Donnell investigates the failed biotech company, Theranos, for Sunday's "60 Minutes." Stanford University dropout Elizabeth Holmes created the innovative blood testing company and was named the youngest self-made female billionaire in the world. But it all came crashing down after an employee at Theranos blew the whistle. Watch O'Donnell's report this Sunday, May 20 on "60 Minutes."
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Maybe this is why the Pentagon buys $600 toilet seats... a board of experienced professionals was taken in by a 20 yo college dropout who mesmerized them with her eyes?. The board was happy to pocket the money . I am deeply disappointed in Mattis and Perry. They should be hauled into court to publicly explain how they failed to exercise their fiduciary duty.
It strange and a No Brainer , why would these investors , Invest Millions of dollars to this start up company, without checking to see if its real or a Big Scam... I say she is a very smart for fooling all those investors .. same old story "its too good to be true" RUN FOR THE HILLS...lol
You have committed a dreadful crime that has ruined many lives and robbed your investors. ... what have you got to say for yourself? ...: ummm I have a vagina ! .:.... ahhhh ... ok off you go. Just don’t do that again !
Going against your power family takes some balls. For a son of a privileged family, Tyler’s courage to speak out against in the name of what is right is really impressive. Integrity is a rare quality that I hope carries him for his life... it’s clearly something he didn’t inherit from his grandfather
Because Theranos was DEVELOPING a new technology, a seemingly impossible one but it had managed to gather so much money from investors so it had to be true, people were hyped, that's how research and development works, not disclosing critical data is an obvious part of R&D, you don't want someone else to figure out your secret and do it for less money, leaving you working toward something useless. You can be 100% sure there was scepticism around this technology and I guarantee you there were people that questioned it but those voices were ignored, they weren't the ones with billions of dollars to spend on R&D, what did they know? Theranos was trying to "fake it till you make it", there is no wonder they knew it was going to come down to this eventually if they weren't successful in bringing this technology to the "masses". But with so much money there was hope, it was a gamble Elizabeth lost, and the rest is history.
I'm surprised that no one deduced that the machine didn't work immediately when she tried to deviate the clients away from the edison machine so that they could switch the samples to the standard siemens machines. It doesn't take Sherlock to figure this one out. Nor does it take a doctor.
Whistleblowers receive financial awards.
If he's not getting them, it's on account of the valor he's stealing from the true whistleblowers, who actually do fight for others, while putting themselves and their careers at risk.
When "60 Minutes" interviewed the staff, one of the people they met with was Theranos' Director of Development, Peter Gibbons.
Here's the video of the meeting:
I respected this fellow Tyler Shultz. Hey! he was so honest and to fight for the fraud; but it costs his parent's over $400,000 fee, that was pain. His grandfather should pay that fee for him. His grandfather is a pathetic greedy old man. He treats money more than anything else in his life.
Really interesting to see similarities between her con and Billy McFarland's Fyre festival. Both believed so deeply they were doing something great, both used "influencers" to make their con seem legit, both saw through their delusion to the bitter end.
And both have said they want to work on new "projects" despite their current legal complications.
How come when someone committed fraud against me and stole my identity and ruined my credit there’s no justice. They nearly laughed me out of the police station. How come it only matters when rich people get stolen from and made to look stupid.
Gives me such hope that this man stood up for truth ... I often ask myself who raises these humans to be so evil to there fellow man .. This kids family should be so proud of him ....A YOUNG MAN OF GREAT INTEGRITY.... TRUTH TO POWER ..
Just read Bad Blood. I was shaking while reading the very disturbing details. I must pay my tribute to Tyler for being firm to stand against his grandfather and other so called think tanks. Can’t believe George Shultz threw him under bus despite all these revelations. He should be proud of having an honest and dedicated grandson.
The differences between Schultz and his grandson are; the boy is more truthful, and has a younger, sharper mind that can spot BS more readily. The elderly often fall for scams more easily than young people. If you look at some of the people she fooled; Shultz, Kissinger, Bill Clinton, Rupert Murdoch, they are elderly, or in the case of Bill Clinton not known for being truthful.
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