Groups Similar Look up By Text Browse About

Similar articles
Article Id Title Prob Score Similar Compare
220826 THEVERGE 2021-11-23:
Elizabeth Holmes admitted to a key part of the case against her
1.000 Find similar Compare side-by-side
220990 ARSTECHNICA 2021-11-24:
Elizabeth Holmes says she forged pharma reports—for all the right reasons
0.762 0.603 Find similar Compare side-by-side
220635 ARSTECHNICA 2021-11-19:
Holmes claimed Theranos could do “more than 1,000 tests”—it did 12 var abtest_1814434 = new ABTest(1814434, 'click');
0.549 Find similar Compare side-by-side
220972 ARSTECHNICA 2021-11-23:
Elizabeth Holmes throws scientists under the bus
0.979 0.539 Find similar Compare side-by-side
220875 ARSTECHNICA 2021-11-22:
Wealth and privilege allowed Elizabeth Holmes to start Theranos
0.609 0.429 Find similar Compare side-by-side
220838 VENTUREBEAT 2021-11-23:
The long-awaited evolution of learning labs to meet a cloud-centric world (VB Live)
0.316 Find similar Compare side-by-side
220947 ARSTECHNICA 2021-11-23:
Are scientists less prone to motivated reasoning?
0.296 Find similar Compare side-by-side
220999 VENTUREBEAT 2021-11-20:
3 tips for successful partnerships
0.273 Find similar Compare side-by-side
220918 ARSTECHNICA 2021-11-19:
Apple has a new work-from-home policy, but it’s still not what employees want
0.269 Find similar Compare side-by-side
220643 VENTUREBEAT 2021-11-19:
TruePlan brings data to companies’ headcount and hiring plans
0.264 Find similar Compare side-by-side
221062 ZDNET 2021-11-22:
David's wacky and wonderful holiday gift guide 2021
0.256 Find similar Compare side-by-side
221154 ZDNET 2021-11-26:
From drones to virtual reality: How golf is now a favourite testing ground for new tech
0.252 Find similar Compare side-by-side
220841 VENTUREBEAT 2021-11-23:
3 jobs to apply for this week
0.246 Find similar Compare side-by-side
220936 ARSTECHNICA 2021-11-20:
Autism affects the microbiome, not the other way around
0.246 Find similar Compare side-by-side
221038 ZDNET 2021-11-21:
Conglomerates are dead, but tech giants are conglomerates in training
0.244 Find similar Compare side-by-side
220842 ARSTECHNICA 2021-11-24:
“NFT” picked as word of the year—deal with it
0.244 Find similar Compare side-by-side
220959 ARSTECHNICA 2021-11-23:
All three console makers now say they’re concerned about Activision
0.243 Find similar Compare side-by-side
220909 ARSTECHNICA 2021-11-22:
Activision Blizzard CEO Bobby Kotick says he would consider stepping down
0.239 Find similar Compare side-by-side
221137 THEVERGE 2021-11-24:
Pinterest settles lawsuit that alleged racial and gender discrimination
0.237 Find similar Compare side-by-side
220829 THEVERGE 2021-11-23:
Hawkeye starts out strong because it doesn’t take itself too seriously
0.236 Find similar Compare side-by-side
220849 TECHREPUBLIC 2021-11-24:
Be wary of trusting algorithms in volatile markets
0.235 Find similar Compare side-by-side
220629 ARSTECHNICA 2021-11-19:
Andrew and Lee dissect The Wheel of Time’s television premiere
0.233 Find similar Compare side-by-side
220942 ZDNET 2021-11-24:
Robo-debt inquiry wants Reynolds to face Senate if she continues to refuse to cooperate
0.229 Find similar Compare side-by-side
221122 ARSTECHNICA 2021-11-24:
Microbiologists have cracked the case of Shedd Aquarium’s missing medicines
0.228 Find similar Compare side-by-side
220654 VENTUREBEAT 2021-11-19:
Apply now to speak at The Future of Work Summit — part of the VB Transform Technology Series
0.226 Find similar Compare side-by-side


ID: 220826


Date: 2021-11-23

Elizabeth Holmes admitted to a key part of the case against her

Who added the Schering-Plough and Pfizer logos to the Theranos-produced lab reports that investors received? Why, none other than Elizabeth Holmes. This work was done in partnership with those companies and I was trying to convey that, she said on the stand today. She added the logos before sending the memos to Walgreens, which Theranos would later partner with. Holmes wasnt trying to fool anyone, she said. I wish Id done it differently. Holmes spoke slowly as she confessed. The testimony, given on her third day of questioning by her defense team, sounded polished. Rehearsed. It was the most confident shed sound all day. Those documents have been a major part of the case against Holmes in her trial for wire fraud. Investors testified that they thought the documents had been generated by the pharma companies themselves. And Holmes mea culpa didnt explain why the language in the Schering-Plough memo had changed from give accurate and precise results in the version the drug company saw to give more accurate and precise results… than current gold standard reference methods in the Walgreens version. But maybe the confession was meant to make it sound more serious when Holmes spent other parts of her testimony passing the buck. Holmes said that lab director Adam Rosendorff, VP Daniel Young, and Balwani, her CFO, were responsible for the clinical lab — implying that whatever problems happened there werent her fault. And, maybe, that she wasnt completely aware of those problems. As she discussed conditions in the lab, her speech sped up and she appeared nervous. She said she hadnt pressured Rosendorff to approve tests. Hadnt pressured Young, either. Hadnt pressured anyone to sign off on a lab report they didnt want to sign. Whatever had gone on in the lab, well, that wasnt her. When Rosendorff raised concerns about the schedule for tests, I recall telling Dr. Rosendorff that well do whatever it takes to give him the time he needs to bring up the tests properly, Holmes said. Those tests were delayed by months. What about scientist Surekha Gangakhedkar, another employee who feared getting blamed for Theranos problems? Well, gee, Holmes had no idea Gangakhedkar had reservations about Theranoss tests. (Holmes did not directly address Gangakhedkars testimony that Holmes had pressured her to approve tests.) When the scientist resigned, she cited stress and health issues. Stress, incidentally, can cause health issues. Holmes tried to convince Gangakhedkar to take a leave of absence, but the scientist quit. And we saw one reason why Gangakhedkar was so stressed: an email from Balwani (on which Holmes was copied!) scolding her for not working hard enough. Please note the software team was here til 3:07AM — and is already here now at 10AM, he wrote. Holmes said she wished shed handled this differently. This was the wrong way to treat people. The rotten working environment at Theranos was a consistent theme among employees who testified in the trial. Entry-level employee Erika Cheung testified that people slept in their cars as they tried to address problems with quality control on Theranos tests. On the day Gangakhedkar quit, another member of her team also quit, also citing stress. A human resources employee emailed Holmes about it: Surekha just came by and said she believes Tina is resigning because of health reasons, family life and stress, that email said. She said it is similar to the reasons she is resigning. As for Theranos marketing, which the prosecution argued deceived people about Theranoss technology, that was the doing of Chiat Day, the firm that famously did the Apple 1984 ad, Holmes said. The images that conveyed Theranos message — like the image of the cute kid captioned with Goodbye Big Bad Needle — were symbols that Chiat Day told them to adopt for their brand identity. Images were especially important for conveying identity, the firm told Holmes. But Holmes admits that she wasnt hands-off with shaping Theranos image. Theranos hired a PR group, Grow Marketing, and managed to place a story in The Wall Street Journals opinion section, written by Joseph Rago, about how amazing Theranos was, titled: Elizabeth Holmes: The Breakthrough of Instant Diagnosis. In the article, which Holmes said she reviewed before publication, Rago wrote that Theranoss processes are faster, cheaper and more accurate than the conventional methods and require only microscopic blood volumes, not vial after vial of the stuff. This article was part of the marketing materials that investors received, convincing them to invest in Theranos. That was part of the press strategy — to introduce Theranos before announcing its partnership with Walgreens. You know, the one that had gotten Holmes to send the be-logoed reports. We saw emails Holmes wrote about the roll-out strategy. At the end of 2013, Theranos agreed to open its testing locations in 3,000 stores over the next two years. Former Walgreens senior executive Nimesh Jhaveri testified earlier in the trial that the roll-out had been slowed because so many tests had been done on venous draws, instead of the fingersticks Theranos had promised. According to Holmes, the roll-out was going well in early 2014. By the end of the year, only 40 service centers had opened. But see, that wasnt Holmes fault, because Walgreens had made an acquisition (of Boots, another pharmacy) and all the Walgreens execs had been replaced by Boots execs. As for the wonky financial projections that had convinced investors that Theranos was more profitable than it actually was, well, those models were Balwanis and he prepared the projections she used. Looking at the projected revenue in 2014 ($140 million) and 2015 ($990 million), Balwani built a model with a number of assumptions about how many stores Theranos would roll out to and other work with physicians and hospital systems sending us samples and that was how he made projections, Holmes said. Balwani was the primary contact for investor Daniel Grossman of PFM Management, Holmes said. Grossman previously testified that Holmes lied to him about Theranos capabilities, and that in meetings where both Holmes and Balwani attended, Holmes did most of the talking. As for Theranos failed attempt to open stores in Safeway, part of that was executive changeover. Former Safeway CEO Steven Burd had testified that Theranos frequent delays troubled him, but Holmes never told him there was a problem with Theranos tech. He retired; when new management came in, Balwani dealt with them. The defense announced its strategy on the very first day: pass the buck. The gamble appeared to be that having Holmes admit her culpability in the doctored memos would give her more credibility when she blamed other people for almost everything else. But the difference between Holmes demeanor when she admitted her role in the memos and when she spent time blaming others was striking. As she deflected responsibility, for the first time in the trial, she looked nervous.