3 ms·

Maybe don't fake "medical devices" till you make it.

by mertd 5y ago

throwawaylinux 5y ago
She was not found guilty on any charges of harming or swindling patients. This was about the wealthy investors. They will come after you whether you fake medical devices or bombs.
- paxys 5y ago
  The Justice Department was only interested in the case because Theranos operated in a highly regulated industry with lots of government oversight. SaaS and consumer tech startup founders lie and cheat and blow up investor money every day and no one really cares. All the wealthy investors gain nothing from Holmes going to jail. In fact the lengthy trial only drags them into the spotlight, which they'd rather stay clear of.
  - throwawaylinux 5y ago
    > The Justice Department was only interested in the case because Theranos operated in a highly regulated industry with lots of government oversight. I don't think so. I think there were very powerful investors and others associated with the company (like board members) who were stung and embarrassed. > SaaS and consumer tech startup founders lie and cheat and blow up investor money every day and no one really cares. Do you have any roughly equivalent examples on the scale of the fraud and the people associated? > All the wealthy investors gain nothing from Holmes going to jail. In fact the lengthy trial only drags them into the spotlight, which they'd rather stay clear of. I disagree with this too. It's a good way to clear their names as it were ("we aren't greedy gullible idiots, she tricked us"), and a great way to send a message not to cross the ruling class.
- s_dev 5y ago
  They were the only people not guaranteed an outcome -- investment is inherently risky. Medical procedures are not.
  - throwawaylinux 5y ago
    Did you just say that medical procedures are not inherently risky? The data does not support that claim. In any case I'm not sure how the comment addresses what I wrote.
joering2 5y ago
the point is she could have never made it. First year grads of meds schools would look at it and tell you its impossible. Its like knowing a floppy stores 1.44 MB and showing it as a breaking technology - we won't change anything but we tell you it will fit 16TB with our magical formula.

Maybe don't fake "medical devices" till you make it.

by mertd 5y ago

Maybe don't fake "medical devices" till you make it.

She was not found guilty on any charges of harming or swindling patients. This was about the wealthy investors. They will come after you whether you fake medical devices or bombs.

paxys 5y ago
The Justice Department was only interested in the case because Theranos operated in a highly regulated industry with lots of government oversight. SaaS and consumer tech startup founders lie and cheat and blow up investor money every day and no one really cares. All the wealthy investors gain nothing from Holmes going to jail. In fact the lengthy trial only drags them into the spotlight, which they'd rather stay clear of.
- throwawaylinux 5y ago
  > The Justice Department was only interested in the case because Theranos operated in a highly regulated industry with lots of government oversight. I don't think so. I think there were very powerful investors and others associated with the company (like board members) who were stung and embarrassed. > SaaS and consumer tech startup founders lie and cheat and blow up investor money every day and no one really cares. Do you have any roughly equivalent examples on the scale of the fraud and the people associated? > All the wealthy investors gain nothing from Holmes going to jail. In fact the lengthy trial only drags them into the spotlight, which they'd rather stay clear of. I disagree with this too. It's a good way to clear their names as it were ("we aren't greedy gullible idiots, she tricked us"), and a great way to send a message not to cross the ruling class.
s_dev 5y ago
They were the only people not guaranteed an outcome -- investment is inherently risky. Medical procedures are not.
- throwawaylinux 5y ago
  Did you just say that medical procedures are not inherently risky? The data does not support that claim. In any case I'm not sure how the comment addresses what I wrote.

joering2 5y ago

the point is she could have never made it. First year grads of meds schools would look at it and tell you its impossible. Its like knowing a floppy stores 1.44 MB and showing it as a breaking technology - we won't change anything but we tell you it will fit 16TB with our magical formula.