/Pg 235 0 R /S /P endobj /Lang (EN-US) >> << 117 0 obj endobj /S /LBody /S /P 182 0 obj << /S /LI /K 10 << This material may not be published, broadcast, rewritten, or redistributed. << 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. /Pg 235 0 R 393 0 obj 136 0 obj >> >> /Type /MCR << /K 1 /Parent 12 0 R /K 10 -mission statement: to make actionable information accessible to everyone at the time it matters. 107 0 obj 59 0 obj /S /P /K 22 Elizabeth Holmes speaks on stage at the Glamour Women of the Year Awards where she receives an award, in New York, NY on Nov. 9, 2015. endobj Kraft Heinz Mission and Vision Statement Analysis According to the March 2018 statement from the SEC, Theranos, . /K [349 0 R 350 0 R 351 0 R 352 0 R 353 0 R] During the trial Holmes accused her ex-boyfriend and business partner, Ramesh "Sunny" Balwani, of emotional and sexual abuse at the time of the alleged crimes, impairing her mental state. 30 0 obj /S /LI /Lang (EN-US) /Pg 242 0 R /P 40 0 R /P 51 0 R /Pg 244 0 R /Pg 248 0 R >> /P 352 0 R /P 8 0 R endobj << >> << /S /LI >> Elizabeth Holmes and Theranos: How "The Change in Healthcare" Turned Theranos CEO Elizabeth Holmes on her company and the landscape of U.S. diagnostic-lab industry. 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. /Lang The business had garnered hundreds of millions of dollars in investments and was valued at $9 billion in 2015, when a Journal expose showed the company had some not-so-favorable secrets. >> << << /S /LBody >> endobj >> << null 24 0 R 25 0 R 26 0 R 27 0 R 28 0 R 29 0 R 30 0 R 31 0 R 32 0 R /K 6 123 0 R null null null 124 0 R null null] Holmes dropped out of Stanford University at 19 to start the medical diagnostics company in 2003. /S /P >> /S /LI /Pg 243 0 R /Pg 255 0 R /P 361 0 R /P 55 0 R /StructParents 8 /MediaBox [0 0 612 792] 235 0 obj << /MCID 2 /P 265 0 R << >> /K 34 !xRnE1$g9`8\\5g1^"z+. /Parent 14 0 R null null 131 0 R null null] /S /P /Lang (EN-US) endobj /O /Layout 98 0 obj 77 0 obj /K 116 0 R /K 49 >> /Annots [] << /K 8 >> Powered and implemented byFactSet Digital Solutions. >> /K 5 /Lang (EN-US) endobj /Lang (EN-US) endobj /P 346 0 R /K [331 0 R 332 0 R 333 0 R 334 0 R 335 0 R 336 0 R 337 0 R 338 0 R 339 0 R 340 0 R /P 8 0 R /Pg 245 0 R /Pg 249 0 R /Pg 249 0 R The Company's clinical laboratory offers comprehensive laboratory tests. 204 0 obj In 2013, things had "started to get a bit tight," Yam said. << /Type /MCR endobj >> /S /P /S /LBody /S /LI endobj >> endobj /P 302 0 R /Annots [] >> 369 0 obj /K 139 0 R /P 8 0 R endobj With /K 119 0 R Have you worked at Theranos? endobj endobj /P 260 0 R At times during that period, Balwani worked in several capacities including as a member of the companys board of directors, as its president, and as its chief operating officer. >> Holmes fostered a culture of fear because it served her needs. null] 188 0 R null null null 189 0 R null null null 190 0 R null << >> << ] null null null 231 0 R null null null 232 0 R null null << /Pg 235 0 R There are at least four biases that can let a belief about a desired future state shape reality despite its disconnectedness from reality. /P 51 0 R << << /K [22 386 0 R] /S /P >> /K 2 138 0 obj 389 0 obj >> null 47 0 R null null 129 0 R null null null 130 0 R null /S /LBody /Lang (EN-US) /Tabs /S /S /LI /P 48 0 R >> << The parable of Elizabeth Holmes and her company, Theranos, is not an unfamiliar one. 1 0 obj /K 205 0 R >> /Pg 238 0 R /Pg 250 0 R /Contents [465 0 R 466 0 R 467 0 R] /Lang (EN-US) << /K [105 0 R 106 0 R 107 0 R 108 0 R 109 0 R] >> /Contents [417 0 R 418 0 R 419 0 R] << >> << /Tabs /S 294 0 obj endobj The first week of Theranos founder Elizabeth Holmes' fraud trial is now complete. >> 19 0 obj /P 59 0 R /K 31 endobj 155 0 obj /K [30 396 0 R] /Lang (EN-US) 293 0 obj /Lang (EN-US) /MediaBox [0 0 612 792] /Rotate 0 >> /Rotate 0 /Pg 235 0 R endobj /P 260 0 R Though highly desirable, these significant features were not as instrumental in the fulfillment of Theranos vision as they were initially pledged. /Pg 258 0 R THERANOS FOUNDER ELIZABETH HOLMES IN COURT; ANATOMY OF A FRAUD. >> /K 31 << /S /Table /Pg 235 0 R >> /Pg 254 0 R << /S /P endobj /P 269 0 R /Lang (EN-US) /S /LBody /S /P /Lang (EN-US) /S /LBody << /S /P 390 0 obj endobj << /P 51 0 R >> /Lang (EN-US) /Resources 428 0 R /S /LBody >> OUR MISSION listen to our readers and cover the topics that matter to them . /S /LI /S /LI 145 0 R null null null 146 0 R null null null 147 0 R null /Lang (EN-US) << << /Bibliography /BibEntry /Pg 237 0 R According to the indictment returned yesterday and unsealed today, the charges stem from allegations Holmes and Balwani engaged in a multi-million dollar scheme to defraud investors, and a separate scheme to defraud doctors and patients. >> >> At the time, Holmes, 39,was a mother of a 1-year-old son and pregnant with another child. 364 0 obj /Lang (EN-US) endobj >> 241 0 obj /Resources 412 0 R /P 8 0 R /Pg 251 0 R << << /Underline /Span However, any sentence following conviction would be imposed by the court after consideration of the U.S. /Lang (EN-US) 363 0 obj /ParentTree 9 0 R endobj >> /P 367 0 R The .gov means its official.Federal government websites often end in .gov or .mil. << /P 297 0 R Theranos Mission Statement - Zippia /Lang (EN-US) /Tabs /S /Lang (EN-US) /K [26 388 0 R] 18 [null null 209 0 R null null null 210 0 R null null null /StructParents 17 /S /LI /Pg 235 0 R << What we know for certain is that behind this particular corporate failure lies a cautionary tale of boundless visioning that all investors, entrepreneurs and organizations seeking breakthrough innovations should be interested in further understanding. /K 36 >> Holmes dropped out of Stanford University at 19 to found Theranos in 2003. /K 14 /P 321 0 R /S /LI /K 16 >> /P 50 0 R /K 231 0 R /S /P Theranos, Inc. is a consumer health technology company founded in 2003 by Elizabeth Holmes. 284 0 obj /K 6 endobj /P 42 0 R /K 27 null 52 0 R 53 0 R] According to a statement from the SEC, "Theranos, Holmes, and Balwani made numerous false and misleading statements in investor presentations, product demonstrations, and media articles by which they deceived investors into believing that its key productcould conduct comprehensive blood tests from finger drops of blood, revolutionizing the . SAN JOSE - A federal grand jury has indicted Elizabeth A. Holmes and Ramesh Sunny Balwani, announced Acting United States Attorney Alex G. Tse, Federal Bureau of Investigation (FBI) Special Agent in Charge John F. Bennett; Food and Drug Administration (FDA) Commissioner Scott Gottlieb; and U.S. >> null] 348 0 obj /Lang (EN-US) /S /LBody << /Filter /FlateDecode /Lang (EN-US) /P 8 0 R >> /K 30 endobj /K 207 0 R endobj >> Answer 1. 237 0 obj /Pg 250 0 R endobj >> /K 24 /K 2 endobj In fact, Yam relied heavily on Holmes for financial projections. /K 233 0 R endobj Paradoxically, instead of warranting greater scrutiny, the very gap between Theranos projected solution and the requirements of the available blood-testing technology may have prevented a number of decision-makers from focusing on practical questions during evaluation of the companys potential and its various promises. << /K 29 >> The employees at Morgan Stanley earn an average yearly salary of $103,933 per year, and the salaries at National Journal average $73,533 per year. Fear a Culture of Fear. /MediaBox [0 0 612 792] << Elizabeth Holmes finishes testifying in Theranos trial - The Washington << 171 0 R null null] endobj /K 186 0 R endobj /K 194 0 R << endobj /CropBox [0 0 612 792] endobj << /Lang (EN-US) 152 0 obj << /K 10 /P 381 0 R /Pg 239 0 R << 270 0 obj /Pg 247 0 R /Lang (EN-US) /K 191 0 R endobj /Resources 472 0 R 61 0 obj << 347 0 obj 20 [null null 221 0 R null null null 222 0 R null null 56 0 R endobj /Count 5 >> << 110 0 obj endobj 45 0 obj /K 136 0 R /K 14 >> /Pg 258 0 R Similarly, defendants purchased and used commercially-available analyzers to test patient blood, while representing to investors that Theranos conducted its patients tests using Theranos-manufactured analyzers. /StructParents 2 >> >> /K 196 0 R /S /LBody endobj 174 0 obj << << /K 10 299 0 obj 2 [null null 119 0 R null null null 120 0 R null null 41 0 R /P 8 0 R 384 0 obj << /S /LBody According to the indictment, the defendants also allegedly made numerous misrepresentations to potential investors about Theranoss financial condition and its future prospects. /P 48 0 R /K 229 0 R Nov 8, 2017. endobj >> >> /Lang (EN-US) /S /P /P 55 0 R /S /LBody >> 101 0 obj /K [28 391 0 R] /Type /MCR /K 171 0 R >> /Pg 241 0 R >> /CropBox [0 0 612 792] 43 0 obj 10 [null null 163 0 R null null null 164 0 R null null null /K 19 /K 221 0 R /K 17 190 0 obj << /K [14 389 0 R] Avoid simply listing what your company does and shift your focus to the bigger picture: what guides your company strategy and inspires your workforce. 353 0 obj /S /P Investors have poured more than $400 million into Theranos, valuing it at $9 billion and her majority stake at more than half that. /P 51 0 R << endobj >> /Pg 252 0 R >> /K 163 0 R /Contents [489 0 R 490 0 R 491 0 R] : Sign up for our trending newsletter to get the latest news, This article originally appeared on USA TODAY: Ex-Theranos CEO Elizabeth Holmes has second child, seeks prison delay, American businessperson; a subject of an SEC investigation, the failed Silicon Valley startup that sought to revolutionize blood testing, Student accused of attacking teacher's aide over Nintendo Switch, Optimism of US consumers declined in February, reflecting fears of a recession, her conviction onfour counts of fraud and conspiracy, Sign up for our trending newsletter to get the latest news, Ex-Theranos CEO Elizabeth Holmes has second child, seeks prison delay, Kellyanne Conway, George Conway To Divorce After Decadeslong Marriage: Report, Reports: 3 children dead, 2 wounded in attack at Texas home, 'Extremely dangerous': Spike in illegal crossings at Canada-Vermont border has feds sounding alarm, School punished teen girl for working out in sports bra in 100-degree Texas heat, ACLU says, Republicans Use Arcane Political Tactic to Thwart Democrats, I Wore Katie Holmes Go-To Bag Trend for a Week, and I Finally Get the Appeal, Alex Murdaugh sentenced to life in prison for murders of wife and son, NBA Player Richaun Holmes Sues Sacramento Bee Parent for Defamation, Murdaugh defense vows appeal, even to Supreme Court, Alex Murdaugh sentenced to life in prison. endobj 29 0 obj /Type /Page /K 12 << 262 0 obj << << It involves a dream, a mission, a plan, a vision and quite possibly monumental corruption. 308 0 obj 296 0 obj >> Overview Salary Revenue History Demographics Competitors CEO & Executives. /Rotate 0 /P 8 0 R Theranos was a private health care company, with a mission to revolutionize lab testing through innovative methods for drawing blood, testing blood, and interpreting resulting patient data. /Pg 235 0 R /S /LBody 22 [70 0 R 71 0 R 72 0 R 73 0 R 74 0 R 75 0 R 76 0 R 77 0 R 78 0 R 79 0 R We just didn't know what new form it would take. While some are vague affirmations, others can sharpen employees' minds and give them a sense of identity and belonging. /S /LBody /S /LI /Lang (EN-US) /S /P /P 50 0 R endobj /P 379 0 R << >> /Pg 239 0 R >> >> 250 0 obj Several months later, with encouragement from her professor, Channing Robertson, Holmes quit Stanford. endobj 64 0 obj /Lang (EN-US) /ModDate (D:20180314090210-07'00') /Type /Page 233 0 obj 149 0 obj << The Theranos founder intentionally deceived investors, a US . /P 381 0 R << Theranos Flashcards | Quizlet /P 285 0 R /Pg 235 0 R /Pg 242 0 R It was not only motivated blindness that may have triggered the slippery slope of unethical conduct at Theranos. /P 166 0 R The company grew to become a business worth billions. /S /LBody /Lang (EN-US) >> /P 59 0 R 135 0 obj /Pg 242 0 R /P 317 0 R 37 0 obj /K 47 >> >> Theranos went on to issue private stock in six rounds between 2014 and 2015, starting at 17 cents per share and ending at $17 per share, according to a document explained by Yam, with investors . /S /LI >> /Parent 11 0 R >> /Tabs /S /Pg 235 0 R endobj 165 0 obj endobj 316 0 obj >> /Resources 440 0 R 398 0 obj /MediaBox [0 0 612 792] Theranos took shortcuts as blood-testing technology failed, prosecutors << 1349, and nine counts of wire fraud, in violation of 18 U.S.C. 223 0 obj Mission statements, where crafted and utilized effectively, have been proven to drive billions of dollars in corporate value. /Pg 246 0 R /Pg 244 0 R << Doctors began using Theranos testing devices to diagnose patients and dispense medical advice. >> 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 . << /MCID 2 /Type /Page /P 338 0 R /S /LI >> endobj << 175 0 obj /P 8 0 R 380 0 obj endobj /Pg 237 0 R By Elizabeth Lopatto / @ mslopatto. 399 0 obj /P 337 0 R Theranos founder Elizabeth Holmes "lied and cheated" for money and fame, prosecutors alleged on the first day of the former Silicon Valley star's trial. >> << null 49 0 R null null 157 0 R null null] << Further, the indictment alleges that based on the defendants misrepresentations and omissions, many hundreds of patients paid, or caused their medical insurance companies to pay, Theranos, or Walgreens acting on behalf of Theranos, for blood tests and test results, sometimes following referrals from their defrauded doctors. /P 281 0 R /K 128 0 R /K 18 1 [null null 115 0 R null null null 116 0 R null null null /S /LI 2. /K 232 0 R /P 8 0 R 87 0 obj endobj /K 0 << endobj endobj /Length 10 0 R /S /LI The company claimed that it had devised . The Journal reported that in 2015, the technology was only used for 15 tests. /P 342 0 R /Pg 240 0 R << /P 8 0 R << >> << 85 0 R 86 0 R 87 0 R 88 0 R 89 0 R 90 0 R 91 0 R 92 0 R 93 0 R] endobj /Type /Page The Seattle-based coffee giant originated in 1971 and has since become ubiquitous around the world. 257 0 obj
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