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Elizabeth Holmes shows Silicon Valley ethos doesn't work for healthcare - Theranos whistleblower - Seeking Alpha

by Brian Stewart
Tue, Jan 4, 2022 11:33 ET
in Employment News, Press Release

  • Theranos whistleblower Tyler Shultz said Tuesday that guilty verdicts for some of the fraud charges against company founder Elizabeth Holmes prove that the Silicon Valley ethos of "fake it till you make it" doesn't work in the healthcare arena.
  • "At the other end of that product is a real person who may have a real medical condition and you really can't play with people's lives like that," the former Theranos employee told CNBC.
  • Earlier Tuesday, a jury convicted Holmes in four of the 11 charges leveled against her stemming from her time at the head of medical device maker Theranos, which collapsed amid allegations of fraud in 2018.
  • Shultz, whose disclosure of insider company information originally exposed the questionable practices at Theranos, argued that Holmes' conviction acts as an indictment of a particular entrepreneurial approach that can become toxic when applied to crucial services like healthcare.
  • "The 'move fast, break things' kind of model just does not work in healthcare and I'm happy that the CEO who was implementing that on real people is being held accountable," he said.
  • Looking at the overall Theranos story, Shultz, who first met Holmes over a decade ago when he was 20 years old, expressed gratitude that he can now move on with his life.
  • "I've been waiting for this day for a long, long time," he said. "This saga has largely consumed my adult life."
  • While Theranos provides the cautionary tale for the Silicon Valley culture, Apple provides the ultimate...


Read Full Story: https://seekingalpha.com/news/3785089-elizabeth-holmes-shows-silicon-valley-e...


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