/S /LI >> According to Temporal Construal Theory, a compelling, unfulfilled mission can trigger this type of operational myopia. /Pg 252 0 R /Pg 257 0 R /S /P /Contents [453 0 R 454 0 R 455 0 R] /Pg 235 0 R /Pg 248 0 R 248 0 obj << GET FOX BUSINESS ON THE GO BY CLICKING HERE. >> 367 0 obj /Lang (EN-US) 13 0 obj After Cheung went to the federal government, Theranos hired a private detective to spy on her, according to court documents released last week. 16 0 obj /Lang (EN-US) >> Having a vested interest in what is at stake as is often the case with founders and investors and envisioning the desired end state via inflexible goals may create a condition known as motivated blindness that can paradoxically prevent us from making realistic progress. /S /LI >> /S /LI 66 0 obj << << << /K 6 /P 42 0 R Theranos was a blood testing company based in Palo Alto and Newark, Calif. Holmes used a combination of direct communications, marketing materials, statements to the media, financial statements . << /K [105 0 R 106 0 R 107 0 R 108 0 R 109 0 R] << null null 121 0 R null null null 122 0 R null null null >> Theranos whistleblower toasted Elizabeth Holmes verdict - New York Post Theranos eventually settled that matter with the government, voluntarily closing all of its labs. Theranos is in the biotechnology industry. endobj While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. >> 259 0 obj endobj /MCID 2 The next witness was Erika Cheung, who was hired by Theranos out of undergrad as a lab associate. >> She pitched its technology as a cheaper way to run dozens of blood tests with just a prick of a finger and a few droplets of blood. /S /LBody << >> /Lang (EN-US) 377 0 obj 164 0 obj In court documents, federal prosecutors have said Holmes is a flight risk. >> In opening statements, a federal prosecutor depicted Balwani as an instrumental accomplice who helped Holmes pull off a huge scam tied to Theranos' blood-testing technology. /P 365 0 R /K 141 0 R /Pg 236 0 R /S /LBody /P 8 0 R /S /LBody endobj 222 0 obj /Pg 253 0 R /Rotate 0 endobj /S /LBody >> CNMN Collection >> << endobj >> << Balwani . 39 0 obj << /Superscript /Span << endobj Many of those statements were outright falsehoods or, more charitably, danced around the truth. /P 349 0 R 285 0 obj /P 23 0 R 374 0 obj >> /S /LI Theranos (@theranos) / Twitter /K 30 /P 44 0 R /MediaBox [0 0 612 792] /P 55 0 R endobj /P 50 0 R << 322 0 obj >> << 329 0 obj /Lang (EN-US) endobj 320 0 obj /S /P endobj /P 8 0 R /MediaBox [0 0 612 792] /Pg 239 0 R /Annots [] >> /MediaBox [0 0 612 792] /S /LI /Lang (EN-US) /S /LI 1 [null null 115 0 R null null null 116 0 R null null null 1. /K 24 286 0 obj /P 344 0 R 106 0 obj Zippia gives an in-depth look into the details of Theranos, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Theranos. /Rotate 0 << /K 7 endobj 288 0 obj There are at least four biases that can let a belief about a desired future state shape reality despite its disconnectedness from reality. << << /Pg 235 0 R << << >> /Pg 253 0 R flagrantly vague and often outright untruthful statements. /Kids [245 0 R 246 0 R 247 0 R 248 0 R 249 0 R] /Pg 244 0 R /S /P endobj >> 215 0 obj "Sunny Balwani did not start Theranos," said the lawyer . /Tabs /S /S /TR 388 0 obj Todays indictment alleges that through their company, Theranos, CEO Elizabeth Holmes and COO Sunny Balwani not only defrauded investors, but also consumers who trusted and relied upon their allegedly-revolutionary blood-testing technology., This indictment alleges a corporate conspiracy to defraud financial investors, said Special Agent in Charge Bennett. << /Lang /Lang (EN-US) /K 6 /S /P endobj /K 2 /K 6 292 0 obj /K 9 endobj >> endobj /S /LBody null 114 0 R null] << endobj 223 0 obj << It then allegedly used those articles to generate financial interest. 217 0 R null null null 218 0 R null null null 219 0 R null /S /P endobj /S /P << 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. 15 [null null 192 0 R null null null 193 0 R null null null 136 0 obj << /P 48 0 R /S /LI Further, defendants allegedly represented to investors that Theranos had a profitable and revenue-generating business relationship with the United States Department of Defense and that Theranoss technology had deployed to the battlefield when, in truth, Theranos had limited revenue from military contracts and its technology was not deployed in the battlefield. << endobj 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. As years went by, whenever employees or experts raised warnings . /Pg 249 0 R /Lang (EN-US) . >> /P 54 0 R /Resources 452 0 R /P 63 0 R endobj /Lang (EN-US) >> /S /LBody /Lang (EN-US) >> >> /Pg 251 0 R The alleged fraud, which Holmes perpetrated as the companys founder and CEO, may have felt less onerous due to the goodness of the vision and mission she championed. << >> 76 0 obj /Rotate 0 >> 107 0 obj 99 0 obj endobj >> >> >> endobj /K 20 >> /P 40 0 R >> /S /LI /MCID 2 >> << << /K [273 0 R 274 0 R] /MediaBox [0 0 612 792] << >> /Pg 248 0 R 87 0 obj /Lang (EN-US) endobj << 194 0 obj 201 0 obj /Pg 249 0 R >> /Lang (EN-US) /K 18 Special conditions for use statement(s): The Theranos HSV-1 IgG Assay is for prescription use only in accordance with 21 CFR 801.109 4. 239 0 obj Bundled together, these biases not only warped Holmes sense of truth, but they likely slanted the perspective of key stakeholders who were attracted to the many promises made by Theranos. >> 384 0 obj /MCID 2 The average salaries at Bloomberg rank the highest, with their employees earning an. >> /Annots [] Prosecutors Call Theranos Ex-CEO Elizabeth Holmes A Liar And A Cheat As >> Theranos gambit may have extended over time precisely because all four biases played a role in the making of a dream that was never fully tested against the constraints of reality. /P 55 0 R /Resources 436 0 R 33 0 obj /S /LBody When Yam was working with an analytics firm to price stock options, she asked Holmes for some key financial forecasts, including projected revenue, because the CEO had the best information. During that process, Yam had emailed Holmes asking her how much revenue she was anticipating. Quotes displayed in real-time or delayed by at least 15 minutes. /P 301 0 R endobj >> endobj /S /P /P 275 0 R The rise and fall of Theranos: A timeline - The Mercury News 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 . /MediaBox [0 0 612 792] /Lang (EN-US) endobj /P 311 0 R << /Pg 244 0 R /S /LI /P 297 0 R >> /Pg 258 0 R application/pdf >> 36 0 obj 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 . /Lang (EN-US) /S /L /K 10 >> >> /P 8 0 R << << 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. endobj /Pg 239 0 R endobj /Parent 13 0 R 82 0 obj /P 54 0 R And although entrepreneurship is very much about turning an imagined future state into reality, the vast and unchecked gap between Theranos vision and the technological incompetence of its operations was breathtaking. /P 50 0 R /Type /Page 331 0 obj /Annots [] /P 328 0 R << endobj /Type /MCR /Lang (EN-US) /K 22 333 0 obj << The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. emblazoned in block capitals in the Theranos lobby, was 'Do or do not. /Type /Catalog Cultivating a boundless vision until the very end completely untethered from the status quo, rules, requirements and the demands of the here and now Holmes and Theranos were on a special kind of journey. /P 324 0 R endobj /P 51 0 R endobj /Pg 240 0 R /K 393 0 R /P 50 0 R 45 0 R 46 0 R 47 0 R 48 0 R 49 0 R 50 0 R 51 0 R 52 0 R 53 0 R 54 0 R /K 21 /K 26 >> /P 327 0 R 360 0 obj /P 364 0 R /Lang (EN-US) >> 284 0 obj /S /L 256 0 obj /Lang (EN-US) endobj /Annots [] endobj /Pg 235 0 R 237 0 obj How Mission Statements Have Created Billions in Value | Toptal Mission statement examples: 16 of the best to inspire you According to the indictment, the defendants also allegedly made numerous misrepresentations to potential investors about Theranoss financial condition and its future prospects. /S /LI /Filter /FlateDecode endobj << /K [368 0 R 369 0 R 370 0 R 371 0 R 372 0 R 373 0 R] endobj /Lang (EN-US) /S /LBody /P 8 0 R >> >> /Pg 238 0 R endobj /K [10 392 0 R] >> /K 9 /S /LBody endobj endobj 273 0 obj 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. 243 0 obj After all, one of Theranos top achievements was the very idea Holmes herself had developed an idea she never put through the rigor of scientific testing before defining its contours. /Pg 239 0 R /RoleMap 7 0 R << 375 0 obj << endobj /Pg 255 0 R << /K [14 389 0 R] << >> 185 0 obj /P 285 0 R /P 266 0 R 108 0 obj /StructParents 16 A sign outside of the headquarters of Theranos in Palo Alto, California on January 24, 2016. >> 249 0 obj Former Theranos employees are still shaken as Elizabeth Holmes - CNBC endobj /Resources 428 0 R << /S /LI /Lang (EN-US) /MediaBox [0 0 612 792] /StructParents 13 Assistant U.S. /K 38 >> /P 8 0 R << 205 0 obj endobj >> /S /LBody The indictment describes a number of schemes that defendants allegedly employed to mislead investors, doctors, and patients. /Lang (EN-US) << /Pg 250 0 R To facilitate the early detection and prevention of disease and empower people everywhere to live their best possible lives. endobj << /Lang (EN-US) 121 0 obj endobj endobj /Pg 235 0 R /K 222 0 R << /S /LBody 180 0 R null null null 181 0 R null null null 182 0 R null /P 50 0 R /P 8 0 R << How Theranos's Big Investors Were Taken - Forbes /P 336 0 R endobj << "I was taken with the idea . /Rotate 0 /S /LBody Elizabeth Holmes is the founder and former CEO of Theranos (2003-2018), a company that created and distributed blood testing devices. /K 215 0 R Although it is a merger of two major companies in 2015, Kraft Heinz's mission and vision statements retain the critical elements and objectives contained in the mother firms - H.J. /Lang (EN-US) endobj << >> /CropBox [0 0 612 792] That innovation combined with the use of technology to build a somewhat bulkier though still miniature and portable yet more reliable version of the micro-Lab would have provided plenty of opportunity to make strides towards the dream of empowering people with reliable, timely and inexpensive blood testing. 227 0 obj /S /LBody endobj 140 0 obj The . /Resources 408 0 R << /S /LBody /Lang (EN-US) /S /LI /P 273 0 R /K 32 /Lang (EN-US) /P 339 0 R 53 0 obj October 2015, the first in a series of Wall Street Journal articles challenged Theranos technology and expertise; by mid-2016, the advisory board disappeared and a fiduciary board was created. >> /P 340 0 R n. o s /) was an American privately held corporation that was touted as a breakthrough health technology company. /S /Table << /P 303 0 R >> /Pg 244 0 R /Tabs /S endobj /P 8 0 R >> 383 0 obj /S /LBody 90 0 obj /S /P Elizabeth Holmes - Crime Museum /P 361 0 R /Tabs /S /Rotate 0 /Parent 14 0 R >> 97 0 obj 291 0 obj >> 338 0 obj << /Pg 255 0 R /Kids [240 0 R 241 0 R 242 0 R 243 0 R 244 0 R] /P 292 0 R /S /LBody 395 0 obj 269 0 obj << 262 0 obj PDF Theranos and Startup Culture: Vision or Fraud? - Berkeley Law