/Lang (EN-US) endobj >> 3 [null null 125 0 R null null 43 0 R null null 126 0 R null << Terry Masson (Founder and Chief Executive Officer). 339 0 obj endobj /P 8 0 R According to the March 2018 statement from the SEC, Theranos, . endobj >> /Lang (EN-US) /MediaBox [0 0 612 792] /Lang (EN-US) 254 0 obj 278 0 obj /Lang (EN-US) /Lang (EN-US) /Pg 250 0 R Photographer: David Paul Morris/Bloomberg *** Local Caption *** Elizabeth Holmes. /Count 9 /Lang (EN-US) >> 3553. /K 204 0 R /P 50 0 R << 92 0 obj endobj 1343. /K 18 /Lang (EN-US) << /S /LBody /Pg 235 0 R Yam said that Theranos lost $16.2 million in 2010, $27.2 million in 2011, $57 million in 2012, and $92 million in 2013. /K 19 /K 1 /Rotate 0 /Annots [] >> /Annots [] /K 10 endobj /Parent 14 0 R /S /LBody /Contents [465 0 R 466 0 R 467 0 R] << endobj endobj /Lang (EN-US) 125 0 obj endobj >> /Lang (EN-US) Elizabeth Holmes finished testifying in wire fraud trial. /P 8 0 R << /Lang (EN-US) << stream /S /LI /Resources 412 0 R /Pg 249 0 R /Pg 247 0 R >> /Pg 256 0 R . << /Type /Page endobj /K 150 0 R 6 [null null 143 0 R null null null 144 0 R null null null null null 197 0 R null null null 198 0 R null null null >> /S /LBody endobj /Pg 235 0 R /K 2 65 0 obj >> 118 0 obj << /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 /Lang (EN-US) << /P 323 0 R Peter DaSilva/Reuters. << /Pg 256 0 R endobj null null 220 0 R null null null 221 0 R null null] There are at least four biases that can let a belief about a desired future state shape reality despite its disconnectedness from reality. >> >> 10 [null null 163 0 R null null null 164 0 R null null null /P 260 0 R . 324 0 R 325 0 R 326 0 R 327 0 R 328 0 R 329 0 R 330 0 R] /S /LI << /CropBox [0 0 612 792] . /P 356 0 R /Type /Page << /P 368 0 R >> >> endobj 206 0 obj /Lang (EN-US) /K 140 0 R In 2013, things had "started to get a bit tight," Yam said. /P 50 0 R >> >> /Pg 238 0 R /Type /MCR /P 389 0 R /K 22 The once-lauded businesswoman ultimately stepped down from the company, which announced in Sept. 2018 it would be closing. >> 395 0 obj /S /LBody /Lang (EN-US) Holmes unflappability may have made it difficult for Theranos board members and prospective clients to raise or press on with the right questions at the right time. /S /P /Lang (EN-US) We searched far and wide for the best company mission statement examples. /S /P /K 24 /P 55 0 R /Lang (EN-US) endobj 236 0 obj The boundless part of her visioning deserves extra attention. endobj /S /P /S /P << >> >> /K 18 384 0 obj >> /Rotate 0 >> /Tabs /S >> /Pg 246 0 R endobj /Annots [] The request for Holmes toremain free pending an appeal, filed Feb. 23 with the U.S. District Court for the Northern District of California, did not say when Holmes had her second baby. /K 11 /K 14 << << endobj Theranos's mission statement is "To facilitate the early detection and prevention of disease and empower people everywhere to live their best possible lives.". Last week, Zuckerberg was back with 3,000 words . << /Pg 245 0 R This is how Theranos's huge valuation was birthed and where a critical legal problem lies. The mission statement conveys no values such as honesty, transparency, or integrity. >> /Lang (EN-US) >> /K 3 /S /LI He . >> /K [262 0 R 263 0 R 264 0 R 265 0 R 266 0 R 267 0 R] /P 48 0 R << /MCID 2 /K 14 We all knew it was coming. endobj >> Postal Inspection Service (USPIS) Inspector in Charge Rafael Nuez. In reality, Theranos couldn't perform more than 12 tests on its Edison devices, former lab . /K 12 /MCID 2 /Lang (EN-US) endobj 149 0 R null null null 150 0 R null null null 151 0 R null /Tabs /S 398 0 obj 186 0 obj 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 blood, and interpreting the resulting patient data. Theranos's mission statement is "To facilitate the early detection and prevention of disease and empower people everywhere to live their best possible lives.". /S /P >> /Pg 248 0 R << /K 227 0 R >> /Annots [] >> /S /LI 269 0 obj /Type /Pages /P 55 0 R /Pg 255 0 R /S /LI Ms. Holmes's lawyers have said the entrepreneur dedicated 15 years to Theranos's mission and her only crime was having a startup that failed, as so many do /Contents [421 0 R 422 0 R 423 0 R] >> /K 6 /P 271 0 R << 232 0 obj The defendants nevertheless used interstate electronic wires to purchase advertisements intended to induce individuals to purchase Theranos blood tests at Walgreens stores in California and Arizona. /K 7 Theranos presenting poster on an investigational ELISA for the serodiagnosis of #Zika virus infection - today at the American Society of Tropical Medicine & Hygiene . Ars may earn compensation on sales from links on this site. /Pg 251 0 R >> << 107 0 obj << /P 8 0 R /K 213 0 R << /K 234 0 R >> /Pg 256 0 R Read our affiliate link policy. endobj /P 320 0 R endobj /K 229 0 R The indictment describes a number of schemes that defendants allegedly employed to mislead investors, doctors, and patients. 359 0 obj << 126 0 obj $1 million bail: Student accused of attacking teacher's aide over Nintendo Switch, Consumer confidence: Optimism of US consumers declined in February, reflecting fears of a recession. /P 290 0 R /CropBox [0 0 612 792] endobj endobj Elizabeth Holmes and her ill-fated blood-testing start up, Theranos, are the subjects of the latest exceptional read. /Length 502 0 R << endobj << /Pg 239 0 R /Subscript /Span /Pg 239 0 R 21 0 obj Holmes dropped out of Stanford University at 19 to found Theranos in 2003. 286 0 R 287 0 R 288 0 R 289 0 R 290 0 R 291 0 R 292 0 R 293 0 R 294 0 R 295 0 R /K 8 85 0 R 86 0 R 87 0 R 88 0 R 89 0 R 90 0 R 91 0 R 92 0 R 93 0 R] /CropBox [0 0 612 792] 100 0 obj endobj /Annots [] Theranos was a privately held healthcare technology company founded by then 19-year-old Elizabeth Holmes in 2003. /S /P /S /P /Lang (EN-US) 25 0 obj /Lang (EN-US) /K 22 /S /LI /K 31 >> >> >> >> 307 0 obj /K 14 214 0 obj << The collaborative investigative work on this case conducted by Postal Inspectors, our law enforcement partners, and the United States Attorneys Office illustrates our efforts to protect both consumers and investors., The Indictment Alleges That Doctors And Patients Were Defrauded. >> /K 169 0 R 248 0 obj /Lang (EN-US) /P 8 0 R /S /P /Pg 235 0 R 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. /K 18 >> /Lang (EN-US) endobj << Theranos founder Elizabeth Holmes arrives at San Jose court over alleged fraud. /CropBox [0 0 612 792] /S /P 305 0 obj 183 0 obj >> /Rotate 0 /Pg 255 0 R endobj /Lang (EN-US) 313 0 obj Balwani, 53, of Atherton, Calif., was employed at Theranos from September of 2009 through 2016. << 345 0 obj The . /Lang (EN-US) >> /Type /Pages /S /LBody /S /LI << stream endobj 173 0 obj The company claimed that it had devised . endobj /Lang (EN-US) << endobj /S /LBody endobj /S /LI >> endobj /P 8 0 R If convicted, the defendants face a maximum sentence of twenty (20) years in prison, and a fine of $250,000, plus restitution, for each count of wire fraud and for each conspiracy count. 42 0 obj 13 [null null 178 0 R null null null 179 0 R null null null endobj /S /LBody endobj << 331 0 obj The indictment charges each defendant with two counts of conspiracy to commit wire fraud, in violation of 18 U.S.C. /CropBox [0 0 612 792] /K 26 endobj Mr. Balwani's lawyer started his opening statement by deflecting blame onto Ms. Holmes, who was the chief executive of Theranos. /K 225 0 R /Pg 237 0 R Whistleblower and former Theranos lab tech Erika Cheung. 15 [null null 192 0 R null null null 193 0 R null null null 308 0 obj << endobj /P 8 0 R /Lang (EN-US) /Pg 256 0 R /P 50 0 R >> /S /LI 21 [60 0 R 61 0 R 62 0 R null null 229 0 R null null null 230 0 R endobj endobj /P 50 0 R 312 0 obj endobj /K 149 0 R /K [380 0 R 381 0 R] Join the Ars Orbital Transmission mailing list to get weekly updates delivered to your inbox. /Pg 257 0 R /S /LBody /Endnote /Note 338 0 obj endobj /Resources 456 0 R 55 0 R 56 0 R 57 0 R 58 0 R 59 0 R 60 0 R 61 0 R 62 0 R 63 0 R 64 0 R /P 8 0 R endobj /K 141 0 R >> /MediaBox [0 0 612 792] endobj Mission statements, where crafted and utilized effectively, have been proven to drive billions of dollars in corporate value. /Outline /Span /Pg 244 0 R /S /LBody endobj /StructParents 8 >> /S /LI << null] /Lang (EN-US) At the time, Holmes, 39,was a mother of a 1-year-old son and pregnant with another child. /Annots [] 198 0 obj /Pg 242 0 R /P 59 0 R The company's stated mission was to "revolutionize medical laboratory testing," according to the Department of Justice. /Placement /Block /S /P /Contents [413 0 R 414 0 R 415 0 R] /P 354 0 R There were . /S /P 376 0 obj /P 360 0 R << /P 54 0 R /Lang (EN-US) 99 0 obj /Lang (EN-US) 139 0 obj /P 8 0 R 329 0 obj /Pg 235 0 R endobj /Tabs /S 16 [null null 199 0 R null null null 200 0 R null null null /Pg 238 0 R /Contents [398 0 R 399 0 R 400 0 R 401 0 R 402 0 R 403 0 R 404 0 R 405 0 R 406 0 R 407 0 R] Theranos's mission statement is "To facilitate the early detection and prevention of disease and empower people everywhere to live their best possible lives." << /Lang (EN-US) /P 352 0 R 294 0 obj (Photo by Brad Barket/Invision/AP). 326 0 obj /Lang (EN-US) endobj >> >> Assistant U.S. endobj 1349, and nine counts of wire fraud, in violation of 18 U.S.C. /Type /Pages Elizabeth Holmes arriving to . 7 0 obj /Pg 258 0 R >> >> /K [8 94 0 R] /S /LI /StructParents 17 << (Photo by Kristoffer Tripplaar/AP). /Pg 235 0 R >> /Annots [] /MediaBox [0 0 612 792] /P 50 0 R /S /LBody /S /P /K [18 385 0 R] /K 14 << /P 380 0 R /P 340 0 R << 135 0 obj endobj /Lang (EN-US) /P 289 0 R 74 0 obj /K 9 >> endstream /K 233 0 R /S /LBody The startup was founded in Feb. 2014, was headquartered in Palo Alto, Calif., according to Bloomberg. /S /LBody /Pg 242 0 R endobj /S /P endobj << /K [30 396 0 R] /Lang (EN-US) /Pg 238 0 R Claiming and updating your company profile on Zippia is free and easy. 383 0 obj /Resources 500 0 R << << /Rotate 0 /K [10 392 0 R] endobj << /K 127 0 R /K 35 >> /S /LI /K 122 0 R /CropBox [0 0 612 792] 62 0 obj /S /LBody /S /P >> >> /S /LBody /RoleMap 7 0 R endobj /Annots [] Fear a Culture of Fear. >> In the age of corporate purpose, the mission statement serves as a reminder of why an organization exists. /K [368 0 R 369 0 R 370 0 R 371 0 R 372 0 R 373 0 R] /Pg 248 0 R /S /LI /S /LI /K 18 /Lang (EN-US) /K 6 32 0 obj /P 379 0 R endobj >> /Pg 235 0 R There is no try', stolen from . >> /S /LBody 262 0 obj A young (age-defying), pure-looking (evil-defying), masculine-sounding (stereotype-defying) female CEO speaking about Theranos unfulfilled feats in the present or past present tense, Holmes proposition was so enticing that she was able to assemble one of the most impressive boards in corporate America. << endobj /Pg 254 0 R << endobj /P 55 0 R /P 48 0 R /Lang (EN-US) /K 22 endobj 341 0 R 342 0 R 343 0 R 344 0 R 345 0 R 346 0 R 347 0 R 348 0 R] /MediaBox [0 0 612 792] >> << "That's a crime . /Count 24 Theranos' mission was "to make actionable health information accessible to people everywhere in the world, at the time they most need it." It was a lofty, inspiring, and valiantly unifying purpose, . 40 0 obj The .gov means its official.Federal government websites often end in .gov or .mil. >> /K 17 In fact, Yam relied heavily on Holmes for financial projections. /Pg 258 0 R The Company's clinical laboratory offers comprehensive laboratory tests. CNN . >> FAQ - New Privacy Policy. /P 50 0 R /K 6 /S /LI %PDF-1.5 /P 8 0 R /Pg 253 0 R /S /P /P 34 0 R >> While some are vague affirmations, others can sharpen employees' minds and give them a sense of identity and belonging. /Pg 254 0 R /P 39 0 R << /S /LI /K 1 /K 6 /K 192 0 R endobj 314 0 R 315 0 R 316 0 R 317 0 R 318 0 R 319 0 R 320 0 R 321 0 R 322 0 R 323 0 R /S /LI endobj /Pg 243 0 R >> endobj >> >> << /Lang (EN-US) 16 0 obj /Type /Page endobj /Lang (EN-US) endobj /CropBox [0 0 612 792] Around the time that Theranos was losing nearly $2 million per week, investors in the blood-testing startup were being told that the company would soon be bringing in almost $1 billion per year. /S /LI /P 55 0 R endobj endobj /K 197 0 R /P 48 0 R /Lang (EN-US) /P 364 0 R 324 0 obj 264 0 obj << /S /LI >> /S /LI /Annots [] /Tabs /S /Pg 255 0 R >> << The indictment alleges that the defendants used a combination of direct communications, marketing materials, statements to the media, financial statements, models, and other information to defraud potential investors. >> /K 206 0 R 385 0 obj << 63 0 obj 301 0 obj >> /P 380 0 R /S /LI 37 0 obj >> 332 0 obj /Lang (EN-US) /Parent 14 0 R endobj /Lang (EN-US) The fact that key stakeholders at Safeway remained upbeat despite the arrogant and secretive behaviors of Theranos executives and the lack of any real hard proof associated with many of the claims Theranos was making is extremely revealing. /Lang (EN-US) /Pg 245 0 R Pay at Theranos is significantly lower than some of its highest paying competitors, like. << >> << /Contents [481 0 R 482 0 R 483 0 R] >> endobj /Lang (EN-US) 231 0 obj /S /LBody 12 [null null null 172 0 R null null null null 173 0 R null >> /Annots [] /P 8 0 R /K 135 0 R After Cheung went to the federal government, Theranos hired a private detective to spy on her, according to court documents released last week. /Lang (EN-US) /Pg 235 0 R /Lang (EN-US) /Lang (EN-US) /Lang (EN-US) /P 381 0 R