Testimony describes how Elizabeth Holmes used Theranos to swindle the DeVos family out of $100MM

Originally published at: Testimony describes how Elizabeth Holmes used Theranos to swindle the DeVos family out of $100MM | Boing Boing

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Swindling DeVos and the Waltons? A victimless crime, then?

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Re-Boing.

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Better headline: DeVos family had 100 million dollars just sitting around that they got swindled out of, and trust me, they barely noticed.

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Well, no HUMAN victims.

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Maybe I’ve misjudged Theranos…

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And now we’re starting to see why Holmes is on trial when other fraudsters are not. You’re not supposed to rip off powerful investors, just the little guys…

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A LOT of money to us, but chicken feed to a multi-billionaire. Besides, Erik has a couple billion if she needs a loan.

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He would probably love to branch out into collections… those jackboots don’t shine themselves.

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On the one hand, yeah, it’s a swindle and therefore a crime, so that’s bad. On the other hand, it ripped off the DeVos and Walton family (plus other billionaires), so I don’t actually care. I mean, did this scam actually hurt anyone who shouldn’t be taken out back behind the barn never to return?

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There are stories out there about people who received false test results at Walgreen’s where Theranos’ tests were used. This led people to believe they had diseases they didn’t have, or to alter treatments based on the results. So there were some real world victims. AFAIK nobody died because of their tech, but thankfully it was all shut down once it became clear the tech didn’t work.

Holmes is clearly no Robin Hood here. It is evidence that the rich will eat themselves given the opportunity. But ultimately when you are a multi-billionaire, investments of this magnitude are pretty routine for them.

It might be a bit of schadenfrude to see the DeVos’ and Waltons get swindled, but it’s not like people who need that money ever saw a dime.

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Elizabeth Holmes has perfected the Zuckerberg Stare. What person is stupid enough to not bother checking where they are going to put their owner’s employer’s money. I mean, do they just do success/failure averaging?

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Am I suppose to feel sorry for the DeVos?

Snl Do Not Want GIF by Saturday Night Live

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