Elizabeth Holmes, former CEO of Theranos, is charged with massive fraud.
The spotlight is now being directed at Elizabeth Holmes. She isn’t the only one who deserves the finger: the ignorant fools who took her word for granted and gave her practically unlimited funding.
That is beyond careless business. It is criminal, given many of these investors represented unsuspecting and ignorant clients who know nothing about biochemistry, biophysics or medical technology.
So many high-powered investors commit this error and they do it repeatedly, so let’s start examining HOW these start-ups are funded and whether there is sufficient scientific oversight/scrutiny to determine the stated efficacy of a product or service.
Sadly, we live in a fast-food culture that celebrates launching “disruptive” innovations in little time, so it’s not surprising that we also die from “fast-food poisoning.”
Elizabeth Holmes and her Silicon Valley-accepted, and blithely promoted, “disruptive” behavior will be studied by SEC hawks, scrutinized by future venture capitalists, dissected by business experts, and analyzed by scientists and mental-health professionals for years to come.
In the end, Ms. Holmes will still have the same abnormal neurochemistry, as gleaned from her deplorable behavior.
Someone suggested that the adage “fake it ’til you make it” is no longer an acceptable tactic or strategy to use in business.
I say, let’s not condemn a fine adage just yet. Elizabeth Holmes traveled well beyond the envelope of that adage and committed massive fraud.
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Tripsy South is the author of the novel WTF, Dorkus! Schoolin’ My Shrink On Teen Suicide. Trained in physics at a cool surfer university, she lives and plays in Los Angeles where she’s a freelance writer and editor.