/Lang (EN-US) /K 24 << << 170 0 obj >> /S /LI /MediaBox [0 0 612 792] endobj << << endobj /Pg 256 0 R >> /S /LI /Type /Page << 356 0 obj /MCID 2 But constantly focusing on a desired future state may have the effect of giving extra highlight to the positives of a distant vision at the expense of the operational challenges that are taking place in the here and now. /S /LI << 28 0 obj /P 33 0 R She had a strong sense of conviction to her mission., Cheung quit after seven months on the job and filed a whistleblower complaint with the Centers for Medicare and Medicaid Services, alleging that the company used expired lab supplies for tests run on its proprietary Edison testing devices, which themselves had major stability, precision, and accuracy problems., I was uncomfortable processing patient samples, she said. A mission that reads more like a fact sheet than something that explains a company's reason for existing won't be effective. /Contents [433 0 R 434 0 R 435 0 R] 16 0 obj /Pg 248 0 R endobj 248 0 obj /S /L /Lang (EN-US) /P 39 0 R /Lang (EN-US) endobj >> /Bibliography /BibEntry null null 225 0 R null null null 226 0 R null null null >> /Pg 235 0 R endobj /K 171 0 R /Pg 245 0 R endobj The United States Postal Inspection Service has a long history of successfully investigating complex fraud cases, said Inspector in Charge Rafael E. Nuez. >> >> /S /LI /K 49 >> << << /K 12 "I was taken with the idea . 162 0 obj /K [10 392 0 R] endobj >> endobj /K [268 0 R 269 0 R 270 0 R 271 0 R 272 0 R] /Type /Pages >> << About us Our mission is to make actionable information accessible to everyone at the time it matters. 119 0 obj << /Pg 248 0 R Tech workers are using company mission statements to hold their CEOs accountable. 82 0 obj Both defendants appeared today before U.S. Magistrate Judge Susan van Keulen for their initial appearances. /K 227 0 R >> Fear a Culture of Fear. 250 0 obj Theranos wanted to make detailed blood sample analysts accessible to all doctors in a timely manner. /Contents [409 0 R 410 0 R 411 0 R] endobj /MediaBox [0 0 612 792] >> /Count 5 /Pg 256 0 R For example, the defendants represented to investors that Theranos conducted its patients tests using Theranos-manufactured analyzers; when, in truth, Holmes and Balwani knew that Theranos purchased and used for patient testing third party, commercially-available analyzers. /S /LBody endobj endobj For the small private firm, the publically traded company or the large enterprise vision, effort and determination needs to be firmly tied to the track - compliance. /Pg 254 0 R /Contents [485 0 R 486 0 R 487 0 R] /Pg 235 0 R endobj >> /K 232 0 R /P 263 0 R endobj /S /P /K 18 >> << 53 0 obj Getty Images. /K 221 0 R 333 0 obj I did not think the technology we were using was adequate enough to be engaging in that behavior.. << /Artifact /P /Lang (EN-US) /S /LBody >> /Lang (EN-US) << /Resources 464 0 R >> >> 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. /Lang (EN-US) /P 8 0 R /P 50 0 R GET FOX BUSINESS ON THE GO BY CLICKING HERE. 357 0 obj /K 136 0 R << /Lang (EN-US) /Pg 246 0 R /Pg 250 0 R /S /L endobj /K 218 0 R /P 380 0 R << >> /K [273 0 R 274 0 R] /K 175 0 R /P 378 0 R /P 8 0 R A former Theranos employee who alerted regulators to fraud at the company said he popped a bottle of champagne after a jury returned guilty verdicts against founder Elizabeth Holmes on Jan. 3. /Lang (EN-US) /S /LI >> In addition, the defendants represented to investors that Theranos would soon dramatically increase the number of Wellness Centers within Walgreens stores when, in truth, Holmes and Balwani knew by late 2014 that Theranoss retail Walgreens rollout had stalled because of several issues, including that Walgreenss executives had concerns with Theranoss performance. << << 56 0 obj << /P 55 0 R /K 1 In part, according to the report, Theranos had neglected to use the device it marketed as the "lynchpin of its strategy," called the Edison, for the majority of the tests conducted. 252 0 obj << /S /LBody /P 42 0 R /Parent 11 0 R /A 259 0 R /S /LBody /P 304 0 R null null null null 168 0 R null null null 169 0 R null 74 0 obj 188 0 obj /Parent 11 0 R Investors who put a total of $632 million into Theranos in its latest funding round from 2014 to 2015 included " Rupert Murdoch and family-controlled Cox Enterprises Inc., -- [Cox family holdings . << The boundless part of her visioning deserves extra attention. /Lang (EN-US) 289 0 obj /CropBox [0 0 612 792] Most of the tests that Theranos was performing for clients were done on devices made by other companies, Cheung testified. /S /P /Lang (EN-US) >> << /S /LI >> /S /LBody /Pg 245 0 R Join the Ars Orbital Transmission mailing list to get weekly updates delivered to your inbox. << /Lang (EN-US) 286 0 obj Palo Alto, United States August 18, 2016: Elizabeth Holmes accepts The Entrepreneur award at, the 25th Annual Glamour Women of the Year Awards on Nov. 9, 2015, in New York. /S /LI 112 0 obj endobj /P 42 0 R >> /K 6 348 0 obj /P 59 0 R /Parent 14 0 R /K 10 << << 219 0 obj /P 3 0 R The largest donation made to a political party by a Theranos employee was 159 0 obj /Lang (EN-US) 316 0 obj Theranos' mission: a blood test requiring only a pinprick of blood, enough to run dozens of medical tests on the startup's hi-tech machines. 350 0 obj /S /LI /K 5 /S /LBody /S /LBody /K 139 0 R /Author () << endobj /S /P /K 0 /S /LI 375 0 obj /K 142 0 R /Annots [] /S /LI /P 260 0 R endobj >> A vision and its attached goals may inspire and motivate, but they can also severely contrive our ability to consider a broader set of possibilities or address contradictory information. /K 190 0 R /S /LBody /P 302 0 R 218 0 obj /S /P >> endobj << endobj 370 0 obj << 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. 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 /K 32 Holmes said in the recent court filing, she had planned to attend a wedding of close friends in Mexico and theticket was canceled immediately when the governmentraised the issue. 311 0 obj /P 381 0 R 236 0 obj /K 116 0 R endobj endobj /P 8 0 R endobj 249 0 obj /Type /Page >> 13 0 obj The defendants also represented that the analyzer could produce results that were more accurate and reliable than those yielded by conventional methodsall at a faster speed than previously possible. 209 0 obj endobj >> /Pg 245 0 R endobj /CropBox [0 0 612 792] << /Pg 235 0 R /Pg 254 0 R The first week of Theranos founder Elizabeth Holmes' fraud trial is now complete. Researchshows that unethical conduct is more likely when people are tempted with the opportunity to cheat on behalf of a good cause, and that cheaters may feel more at ease with their own behavior if they cheat on behalf of the common good. /S /L Theranos is a private health care and life sciences company with the stated mission to revolutionize medical laboratory testing through allegedly innovative methods for drawing blood, testing . >> /S /TR endobj /K 143 0 R /S /LBody << /P 301 0 R /Pg 255 0 R << endobj /S /LI << /K 217 0 R /K 194 0 R /K 157 0 R . << 324 0 R 325 0 R 326 0 R 327 0 R 328 0 R 329 0 R 330 0 R] /K 18 /Lang (EN-US) /S /P /P 365 0 R /K [262 0 R 263 0 R 264 0 R 265 0 R 266 0 R 267 0 R] >> Holmes rocketed to Silicon Valley stardom nearly a decade ago when she started speaking publicly about Theranos's vision a small . /K 118 0 R /S /LI /Lang (EN-US) >> /K 7 /Lang (EN-US) /K 150 0 R /S /LBody << /P 374 0 R /K 137 0 R << Theranos is ranked #71 on the Best Start-up Companies to Work For in America list. /S /LI The Journal reported that in 2015, the technology was only used for 15 tests. /S /LI /MediaBox [0 0 612 792] /Type /MCR stream /Contents [413 0 R 414 0 R 415 0 R] endobj 2 [null null 119 0 R null null null 120 0 R null null 41 0 R 360 0 obj /Pg 253 0 R /P 50 0 R /S /LBody /S /LI endobj 5 0 obj /K 14 /K 24 endobj /Pg 252 0 R >> >> /Lang (EN-US) << 305 0 obj 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 201 0 R /S /LI /K 183 0 R /P 340 0 R 376 0 obj /Pg 244 0 R /P 51 0 R /K 132 0 R /Type /MCR 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. /S /TD 156 0 obj /K 11 /S /LI /S /P /Type /Page /Lang (EN-US) /MediaBox [0 0 612 792] /K 10 >> /K 159 0 R endobj /S /LI /P 262 0 R 2018-03-14T09:02:10-07:00 << null] endobj Jumping off the track ends not with a win for consumers, physicians, investors and the company but with charges from the DOJ and the SEC. endobj While some are vague affirmations, others can sharpen employees' minds and give them a sense of identity and belonging. >> /CropBox [0 0 612 792] The defendants also delivered to doctors and patients blood test results from which critical results were improperly removed. >> /Pg 246 0 R /K 147 0 R << /ModDate (D:20180314090210-07'00') /S /LBody 78 0 obj >> >> It involves a dream, a mission, a plan, a vision and quite possibly monumental corruption. 275 0 obj 395 0 obj /P 375 0 R /Pg 256 0 R endobj endobj endobj Balwani . /K 12 /K 37 45 0 obj /K 193 0 R THERANOS FOUNDER ELIZABETH HOLMES IN COURT; ANATOMY OF A FRAUD. /P 8 0 R /S /LI 323 0 obj The next witness was Erika Cheung, who was hired by Theranos out of undergrad as a lab associate. endobj endobj 239 0 obj /K 22 >> /Pg 255 0 R Four Blind Spots at the Core of Theranos' Failure. /K 24 6 [null null 143 0 R null null null 144 0 R null null null In the end, the innovations Theranos was after were not only meant for its own success but to secure a better future for millions of people. /S /LBody To facilitate the early detection and prevention of disease and empower people everywhere to live their best possible lives. 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