Posted on 11/21/2016 7:48:00 PM PST by CorporateStepsister
We haven't really written much about the insane Theranos scandal, though we discussed it on our podcast. The whole story is pretty crazy -- involving a heavily hyped up company that appeared to basically be flat out lying to everyone about what it could do. The company still exists, but barely. The company's founder and CEO, who was plastered across magazine covers and compared frequently to Steve Jobs, has been banned from running a lab for two years, and the company is now facing a $140 million lawsuit from its biggest partner, Walgreens, who claims that Theranos repeatedly lied to Walgreens.
All the while, Walgreens alleges that Theranos: actively misled the company; didnt live up to the quality and regulatory promises; kept Walgreens in the dark about problems; refused to answer questions as media reports came out about those problems; accused Walgreens of leaking information to the press; and asserted that Walgreens was the one that had breached their agreement.
One thing that became clear as the whole scandal broke, was that the company continued to aggressively deny wrongdoing, even as it became more and more obvious that almost everything that Theranos was saying publicly, allowing the company to be valued around $9 billion, was completely bogus. One of the most striking stories that came out a few months ago, was a report on the almost cult-like response from Theranos after the very first of a series of articles exposing the fraud came to light. The reporter who did an amazing job in exposing Theranos was the Wall Street Journal's John Carreyrou. And according to a thorough recounting in Vanity Fair, after Carreyou's first article, rather than honestly addressing the allegations, this happened:
(Excerpt) Read more at techdirt.com ...
She became obsessed with wealth and her supposed brilliance. She had no inner standards of truth.
At one point I suspect she believed her own hype about her poor product and did not want to get off the gravy train it provided.
It is not unlike the scientists that studied global warming and believed in it. It was very lucrative. When the data did not verify their beliefs they falsified the data. Been their but did not do it and did not get the T Shirt. Not global warming but other areas of research.
Actually most innovative research ends in failure. Sometimes the failure leads to other concepts and ideas that are good.
I well remember when research was honorable. If you were right you published. If you were wrong you published the failure so others did not repeat the same errors. This honor has been corrupted by government grants that "want an pre decided outcome."
Dr Micheal Mann is the prime example of scientific fraud. He is a moderately rich man because he lies.
When I lived in Reading, England we had a Geologic Society at Reading University. Reading University is the premier university in the study of sedimentary geology. That is where the oil is, it is in the sediment basins of the world. I was not a student but just a geologist working in the North Sea. We had the privilege of having world renowned geology scholars come to our society and lecture. They were from Cambridge and Oxford etc. We paid them grandly. A train ticket, a place to sleep, a meal, and all the beer they could drink at the local Moorland Pub. Sometimes the beer tab was greater than the meal. This is how real science works. I miss those days dearly.
Either way, you can bet that she’s going to end up in prison, an institution, or she’s going to end up in an ‘accident.’ I imagine she’s paranoid about all the powerful people who have the risk of being looked at as brainless fools.
Great post! Thank you!
Throughout history its been shown that being blessed with the neurological circuits that allow an individual to be a good or even brilliant scientist does not mean that individual will be of good character. Many are greedy, narcissistic, overly ambitious, covet recognition and fame and will behave in a very unethical manner to achieve their goals. Political correctness has superseded the classical scientific method as an arbitrator of validity even at the highest academic levels. Funding first, truth second, funding first, bad behavior ignored, The correct narrative that guarantees the funds is paramount, Objections are ignored and disparaged. Young Tyler Schultz, as correct as he was, will not be welcomed on any other boards any time soon.
Why is George Shultz consorting with David Boies?
This was the wondergal that the media was fawning over some times back regarding blood tests, or something along those lines,right?
By the way, your tagline reads like "the most interesting man in the world". Must have some good stories to tell over a beer or two. Or three.
I read the article. Seems the elder Schultz turned on the younger Schultz, who did the right thing in exposing theranos.
Shame on Sr.
Another lying Democrat that supports Hillary Clinton.
The elder man is too old and yes, I think the older Schultz has some issues he should be working out on his own, not on his own grandson. So much damage this deranged woman has done and this is only to one family.
She is a complete sociopath and frighteningly able to influence crowds that she is right. Vary dangerous.
Yes. Sad.
Thanks. I had not seen some of this information elsewhere.
Those are some crazy eyes!! (And I don’t mean that in a good way)
>>This honor has been corrupted by government grants that “want an pre decided outcome.”
It is worth noting that in Eisenhower’s farewell speech containing the oft-quoted (by the Left) line warning against the military-industrial complex, right after that portion of the speech, he also says:
******************************************************
Akin to, and largely responsible for the sweeping changes in our industrial-military posture, has been the technological revolution during recent decades.
In this revolution, research has become central; it also becomes more formalized, complex, and costly. A steadily increasing share is conducted for, by, or at the direction of, the Federal government.
Today, the solitary inventor, tinkering in his shop, has been over shadowed by task forces of scientists in laboratories and testing fields. In the same fashion, the free university, historically the fountainhead of free ideas and scientific discovery, has experienced a revolution in the conduct of research. Partly because of the huge costs involved, a government contract becomes virtually a substitute for intellectual curiosity. For every old blackboard there are now hundreds of new electronic computers.
The prospect of domination of the nation’s scholars by Federal employment, project allocations, and the power of money is ever present and is gravely to be regarded.
Yet, in holding scientific research and discovery in respect, as we should, we must also be alert to the equal and opposite danger that public policy could itself become the captive of a scientific-technological elite.
******************************************************
That 2nd to last line is absolutely what has happened with CAGW (Catastrophic Anthropogenic Global Warming, AKA Warmist Alarmists).
The issue I have with Theranos was the fact they sucked up so much venture capital for their snake oil that legitimate biotech companies were stuck waiting in the lobby.
I worked for wretches like this one in the past, and can spot them from a mile away.
You have no idea how pervasive this is in Silicon Valley.
Drain the swamp.
True.
Drain the swamp.
This is not theoretically outside the realm of possibility, but I am not holding my breath.
She should be forced to pay it back.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.