Sunday, July 22News That Matters

Theranos founder Elizabeth Holmes accused of fraud by SEC, pays it off

Theranos, touting fast and easy blood tests, was a billion-dollar Silicon Valley beast.

But it all came crashing down after its tech turned out to be unreliable and it emerged the company used traditional tests to hide that fact. Investors were bilked and its partners sued it, but founder Elizabeth Holmes seemed to escape serious sanction–until now. In a settlement with the SEC, she gets away with a $500,000 penalty, must leave Theranos, and is barred from serving as an executive on a public company for 10 years. (The SEC does not impose criminal penalties such as imprisonment.)

Theranos was one of the health-care world’s best funded and highest-profile startups, with a CEO who gained attention for her bold statements about the company’s blood tests. As those claims unraveled, the company went through a dramatic downfall marked by accusations of scientific fraud, lawsuits and sanctions by health regulators.

The company said it could run dozens of diagnostic tests using a single drop of blood, an advance that could have upended a medical diagnostics market worth billions of dollars. Doubts began to emerge about the technology after a Wall Street Journal report that the testing equipment might not be what it seemed.

“The company is pleased to be bringing this matter to a close and looks forward to advancing its technology,” Theranos said in a statement, adding that it cooperated with the SEC’s investigation.

Turtles were at the center of a hundred-year evolutionary controversy since the 1887 discovery of a Proganochelys fossil in Germany. AS PBS Eons explains, the question of how turtles got their shells led scientists “to rethink the entire history of reptile evolution.”


IllustrisTNG, a next-gen simulator for cosmological events, created this beautiful animation of a “late-type” star-forming galaxy. It’s fascinating to watch how mind-boggling mass and energy on a mind-boggling time scale looks familiar to observable phenomena on earth.


“It just seemed that cosmology was more exciting, because it really did seem to involve the big question: Where did the universe come from?” — Stephen Hawking, 8 January 1942 – 14 March 2018 British physicist Stephen Hawking has died at the age of 76. He was known for his groundbreaking work with black holes […]


One of the main reasons why many of us invest in cloud storage is to back up the sensitive files and data that we’d rather not have saved on our computers. Of course, this strategy doesn’t hold much water if you’re using a cloud storage solution that doesn’t protect your information while it’s saved to […]


Apple produces some powerful computers, but without the right apps, you’re probably not using your Mac to its full potential. Of course, finding the right programs can be a daunting task given the sheer number of them available, but with the 2018 Mac Essentials Bundle, you can net ten great apps for just $2 apiece. Here […]


If you intend on having your screenplay picked up by a major studio, you need to make sure your work meets formatting standards. However, doing so is often a long and tedious process that can take precious time away from writing the next Oscar-worthy hit. That’s why top studios, like Disney, Warner Brothers, and MGM, […]


Let’s block ads! (Why?)

Source link

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.