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Old 07-05-2016, 02:19 PM
  #31
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They said the same thing about Lego's.
and everything is awesome.
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Old 07-05-2016, 08:50 PM
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legos was awesome

but there's no people in tetris
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Old 07-08-2016, 06:52 AM
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Theranos’ Elizabeth Holmes banned from running labs for 2 years

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Over the past eight months, Theranos has been in the news for all the wrong reasons. The medical company claimed to be able to deliver accurate test results from just a single drop of blood, but it was discovered that it voided results from tests conducted in 2014 and 2015. Last month, Forbes revised founder Elizabeth Holmes’ net worth from $4.5 billion to zero.

Now, Centers for Medicare & Medicaid Services (CMS) has imposed sanctions on Theranos’ Newark, California laboratory and CEO Holmes following its 2015 survey.

The Newark facility will have its Clinical Laboratory Improvement Amendments (CLIA) certificate revoked, and Holmes has been barred from operating labs for the next two years.

In addition, the company will have to pay a monetary penalty of unspecified value and the lab’s approval to receive Medicare and Medicaid payments for all laboratory services will be canceled.

That’s a serious blow to Theranos, whose reputation has already taken a tremendous beating over the past year. Just last month, drugstore chain Walgreens ended a partnership with the company to offer blood tests in its outlets, as health regulators geared up to impose sanctions on Theranos; it previously decided to stop working with the Newark lab in January.

Theranos’ Newark lab won’t have its certificate revoked for the next 60 days, but it will cease patient testing during that period and work with CMS to resolve issues with its processes. Meanwhile, the company will continue to run its services through its Arizona lab.


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We accept full responsibility for the issues at our laboratory in Newark, California, and have already worked to undertake comprehensive remedial actions. Those actions include shutting down and subsequently rebuilding the Newark lab from the ground up, rebuilding quality systems, adding highly experienced leadership, personnel and experts, and implementing enhanced quality and training procedures.

While we are disappointed by CMS’ decision, we take these matters very seriously and are committed to fully resolving all outstanding issues with CMS and to demonstrating our dedication to the highest standards of quality and compliance.

The story of the CEO’s troubled journey in creating a multi-billion dollar healthcare business is reportedly being made into a film, with Jennifer Lawrence set to portray Holmes in the Adam McKay-directed drama.
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Old 07-08-2016, 09:21 AM
  #34
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I just watched The Big Short last night. Very good film--I wouldn't have minded it getting the Oscar. But now I see how Bad Blood differs strongly from TBS. It was told entirely from the viewpoints of the short sellers, not the crooks and fools who created the bubble and crashed the markets. BB would switch the viewpoint from the outside to the inside. It might therefore probably have to make judgments that TBS did not. Unless a TBS-style version of BB is used that would only show Holmes on TV and meeting with journalists and investors, not in confidential discussion with employees and colleagues, family and friends.
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Old 07-08-2016, 01:33 PM
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I just watched The Big Short last night. Very good film--I wouldn't have minded it getting the Oscar.
I would have preferred it got the Oscar over Spotlight to be honest.


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But now I see how Bad Blood differs strongly from TBS. It was told entirely from the viewpoints of the short sellers, not the crooks and fools who created the bubble and crashed the markets. BB would switch the viewpoint from the outside to the inside. It might therefore probably have to make judgments that TBS did not.
I agree certainly, that it needs to be more 'inside' than TBS was, but I think an ambiguous approach is still an option.

Holmes’ story strikes me as that of someone who dug a deeper hole for herself than she had facility to climb out of. The cover up itself is culpability enough, but what’s interesting here is how the pressures of expectation, business, and media scrutiny may have directed her actions. The drama would seem to be in watching her try to dig herself out. But for that to work the movie will need to get us on her side - which requires that it not view her as nefarious - maybe even going so far as to make us complicit, as we root for her to save herself. In that sense it can use Lawrence’s appeal very much to its advantage.

But if it layers in questions about how much of a con artist Holmes might be, of how much she really knew, and how premeditated her lies were, it could leave us exiting theatres with questions of our own about whether we should have trusted her either. Similar questions as those that Wall Street are asking right now. Questions that reveal the games of chance that are often played in the financial sector when they too eagerly anoint the latest corporate marvel.
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Old 07-08-2016, 08:16 PM
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I bought TBS a while ago for $10 on blu ray. I still need to see it yet.

But seeing how I don't know much about the Elizabeth Holmes. Should be interesting where this goes.
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Old 07-09-2016, 11:11 AM
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I liked it too, not seen Spotlight though.
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Old 07-10-2016, 02:26 PM
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so this woman did all this bad stuff and she isn't going to jail??
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Old 07-11-2016, 03:02 AM
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Theranos’ Downfall Isn’t Just Elizabeth Holmes’ Fault

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The other people who helped build the company should be held accountable, too.

By Shannon Palus



lizabeth Holmes, founder of blood-testing company Theranos, which eschews big needles in favor of easier testing, has been banned from running her lab—or any lab in America—for two years. Her company has been fined and sanctioned. Regulators deemed some of the company’s methods and technology unfit for patients.

The flurry of stories bearing the news featured photos of Holmes in the black turtleneck uniform that helped cement favorable comparisons between her and Steve Jobs. She’s often onstage, where she was so frequently placed to deliver sweet and sweeping messages on the future of health care. The narrative focuses on the college dropout’s stark economic turn (as assessed by Forbes, anyway) from the youngest self-made woman billionaire in the world to zilch, as her company faced scrutiny over its technology.

“The ban is a blessing. It gives the company a way to go forward without Holmes, whose lack of credibility in the financial and clinical communities is sinking the company,” Erik Gordon, a professor at the Ross School of Business at the University of Michigan told the Wall Street Journal.

We love a villain as much as we love a hero, and it seems we’ve found both in Holmes. But much like innovation itself, deception is a team effort.

There’s the former president of Theranos, Sunny Balwani, who left the company in May after the Centers for Medicare and Medicaid Services considered dealing him the sanction that it has now served just to Holmes. The threat follows a finding by CMS that Theranos’ lab in Newark, California, jeopardized patients’ safety.

There’s Channing Robertson, the Stanford chemical engineering professor who joined the Theranos board when Holmes dropped out of college. He kept the technology he was working on under extremely tight wraps—at one point, he told the New Yorker that he couldn’t even tell his wife what he was working on. It’s likely thanks to this veil of secrecy that Theranos’ tests were able to keep running for so long. As both a mentor to Holmes and then a technical adviser to the company, Robertson should have advised more oversight and caution rather than barreling forward with a health product that didn’t work. It’s impossible to know what he said behind closed doors, but in public, he seemed caught up in both the dreamy narrative and his place in it, in the New York Times comparing mentoring Holmes to teaching science to Einstein.

There are the members of Theranos’ board of directors. In the fall, Fortune pointed out that the group lacked the expertise to advise a medical company. Three former secretaries of state, a surgeon, and a former epidemiologist may sound impressive, but the board on the whole grossly lacked relevant technical and medical expertise. (A shake-up in May—months after the WSJ suggested the company was on shaky ground—did add three experts with more expertise.)

And there’s the media that propelled Holmes to fame, with coverage that was largely uncritical. The tech press is the “secret culprit,” in this mess, Vanity Fair declared in May, though the dishonor certainly extends to the likes of the New York Times’ T magazine.

Sure, sometimes there are singular bad apples that take down operations—a scientist cooking her data so artfully that it passes even scrupulous peer review in a top journal, a principal investigator who rules his lab with such a fearful hand that it takes years until someone dare blow the whistle. But Holmes was operating a company alongside a considerable number of other people, be they employees or investors, and many of them deserve at least partial credit for the downfall.

There is definitely blame to spread around, but Elizabeth Holmes deserves the lion's share of the bad press just as she demanded the lion's share of the good press. Don't talk to me about sanctions. More...

That is not to say that Holmes has not earned her sanction; she has. But there are players here that are not going to face formal consequences, and they should. I’m thinking particularly of those toward the top, who were well past the stage in their careers where they needed to rely on every résumé line to bolster their career prospects, for whom Theranos may have been a glitzy side project.

When we fetishize individual creators, we suck credit away from their collaborators. The tale of Holmes’ rise and fall makes for such a good yarn that Jennifer Lawrence is slated to play her in a movie, pushing the Stanford dropout’s star even higher, if in infamy. Let’s hope that in the Hollywood version of the Theranos story, we are treated to more than one villain.

I suspect that the intention of the movie is not simply to critique Holmes either, but to focus, as Deadline pointed out, 'on Silicon Valley bubbles and how Wall Street falls in love with the potential behind a potentially disruptive company, and the complications that can arise'.

This isn't just about Holmes', it's about the system that allowed Holmes to operate as she did for so long. It's about the VC's who failed to do their due diligence, the many board members at Theranos who failed in their oversight, the bad science employed and, hopefully, "the media that propelled Holmes to fame, with coverage that was largely uncritical".

This is much bigger than one woman's failure, it's about the whole industry. I really think that that's what's drawn Adam McKay's attention ultimately.
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Old 07-11-2016, 04:56 AM
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Well, sure. As in TBS, con men can't succeed without a bunch of blind greedy suckers and clueless enablers.

I do have a bit of a nit with that article. I would only vaguely criticize the board members for their greed at taking a job that they knew they weren't qualified for. The real blame belongs to the company execs who loaded the board with a bunch of connected retired politicos and almost no one with any medical knowledge. And the idiots who thought Henry Kissinger and Co. should render Theranos a company to be taken seriously. Anyone taking advice from Kissinger should be considered a crook until overwhelming evidence is found otherwise.
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Old 07-11-2016, 10:53 AM
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Anyone taking advice from Kissinger should be considered a crook until overwhelming evidence is found otherwise.
Hard to argue with that.
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Old 07-11-2016, 09:04 PM
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I liked it too, not seen Spotlight though.
I know you liked it solely cause it has Margot Robbie in a bathtub full of bubbles. Just admit it.
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Old 07-12-2016, 03:02 PM
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it didn't hurt. now **** off.
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Old 07-12-2016, 07:11 PM
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holy cow!!
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Old 07-13-2016, 12:58 PM
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Me? It's from the movie.

Language -
Spoiler:
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