Showing posts with label Theranos. Show all posts
Showing posts with label Theranos. Show all posts

Monday, January 10, 2022

The Epic Rise and Fall of Elizabeth Holmes; The New York Times, January 3, 2022

 David Streitfeld. The New York Times; The Epic Rise and Fall of Elizabeth Holmes

In Silicon Valley’s world of make-believe, the philosophy of “fake it until you make it” finally gets its comeuppance

"Whenever anyone — a regulator, an investor, a reporter — wanted to know a little more about exactly how the Theranos machines functioned, the company cried “trade secrets.” The real secret, of course, was that Theranos didn’t have any trade secrets because its machines didn’t work. But her answer worked for a long time."

Friday, March 15, 2019

Review: 'The Inventor' is a coolly appalling portrait of Elizabeth Holmes and the Theranos scandal; The Los Angeles Times, March 14, 2019

Justin Chang, The Los Angeles Times;

Review: 'The Inventor' is a coolly appalling portrait of Elizabeth Holmes and the Theranos scandal


"As a quick glance at this week’s headlines will remind you — a staggering college admissions scandal, a wave of indictments in the cases of Paul Manafort and Jussie Smollett — we are living in deeply fraudulent times. But if there are few people or institutions worthy of our trust anymore, perhaps we can still trust that, eventually, Alex Gibney will get around to making sense of it all. Over the course of his unflagging, indispensable career he has churned out documentaries on Scientology and Enron, Lance Armstrong and Casino Jack — individual case studies in a rich and fascinating investigation of the American hustler at work.
 
Gibney approaches his subjects with the air of an appalled moralist and, increasingly, a grudging connoisseur. His clean, straightforward style, which usually combines smart talking heads, slick graphics and reams of meticulous data, is clearly galvanized by these charismatic individuals, who are pathological in their dishonesty and riveting in their chutzpah. And he is equally fascinated by the reactions, ranging from unquestioning belief to conflicted loyalty, that they foster among their followers and associates, who in many cases shielded them, at least for a while, from public discovery and censure.
 
“The Inventor: Out for Blood in Silicon Valley,” Gibney’s latest exercise in coolly measured outrage, is an engrossing companion piece to his other works in this vein. The subject of this HBO documentary is Elizabeth Holmes, the self-styled biotech visionary who dropped out of Stanford at age 19 and founded a company called Theranos, which promised to bring about a revolution in preventive medicine and personal healthcare. Its top-secret weapon was a compact machine called the Edison, which could purportedly run more than 200 individual tests from just a few drops of blood, obtained with just a prick of the finger.
 
Holmes’ vision of a brave new world — one in which anyone could stop by Walgreens and obtain a comprehensive, potentially life-saving snapshot of their health — proved tantalizing enough to raise more than $400 million and earned her a reputation as possibly the greatest inventor since, well, Thomas Edison. Her investors included Betsy DeVos, Rupert Murdoch and the Waltons; Henry Kissinger, George Shultz and James Mattis sat on her board of directors. But that was all before the Wall Street Journal’s John Carreyrou and other investigative journalists exposed glaring faults in the Edison’s design and sent the company’s $10-billion valuation spiraling down to nothing. Theranos dissolved in 2018, and Holmes and former company president Sunny Balwani were charged with conspiracy and fraud.

Full disclosure: As the son of a retired medical technologist who spent more than 30 years testing blood the traditional way, I approached “The Inventor” with great fascination and more than a little schadenfreude. The movie, for its part, seems both magnetized and repelled by its subject, a reaction that it will likely share with its audience. Gibney is perhaps overly fond of deploying intense, lingering close-ups of Holmes’ face and peering deep into her unnerving blue eyes (“She didn’t blink,” a former employee recalls). If the eyes are the windows to the soul, “The Inventor” just keeps looking and looking, as though uncertain whether or not its subject has one."

Wednesday, March 6, 2019

How the patent office's lax standards gave Elizabeth Holmes the BS patents she needed to defraud investors and patients; Boing Boing, March 4, 2019

Cory Doctorow, Boing Boing; How the patent office's lax standards gave Elizabeth Holmes the BS patents she needed to defraud investors and patients

"Patents are only supposed to be issued for devices with "utility" -- that is, they have to actually work before you can get a patent for them. But it's been decades since the USPTO has paid meningful [sic] attention to this criterion when evaluating applications, handing out patents for imaginary "inventions" to con artists, delusional hucksters, and other "inventors" who are willing to pay the filing fees that keep the lights on at the Patent Office. And since most people only have a vague idea of the rigor used in patent examination, these patents for design fiction can be used as impressive "proof" when crooks set out to deceive their marks.

(Another real problem with these fake patents: allowing con-artists to patent "inventions" that they have no idea how to make means that when someone really does invent that gadget, the con-man can use their bogus patent to threaten and extort real inventors)."