The game is up for folks who enjoy pointing out that Theranos founder Elizabeth Holmes (and company president Sunny Balwani) inexplicably escaped serious consequences for the company's billion-dollar blood test hoax. They were charged with fraud today by the Feds.
Both Holmes, who stepped down as CEO of the financially crippled company earlier Friday, and Balwani appeared in U.S. District Court in San Jose, Calif., for arraignment on two counts of conspiracy to commit wire fraud and nine counts of wire fraud.
Both Holmes and Balwani, who surrendered Friday to the FBI, were released on $500,000 bond each and ordered to surrender their passports at the arraignment, which was attended by Holmes
Theranos's blood-testing machines never amounted to much more than hacky prototypes, but the company faked its way to a $9bn valuation by secretly using competitors' traditional technology while keeping employees shushed with a threatening, cultlike corporate culture. CNBC says "Holmes and Balwani face up to 20 years in prison if convicted" but doesn't suggest likely sentencing.
In May, Harbor Freight recalled certain Pittsburgh-branded jack stands due to a defect in the ratchet that could lead to them collapsing under load. Unfortunately, some of the newer models have a welding defect, and are also being recalled. There is full list of the affected models. The text of the recall is embedded below.
Kanye West announced this weekend that he’s running for president, winning the immediate endorsement of billionaire socialite Elon Musk. It turns out, however, that West has filed none of the paperwork required to do so. So as of now, it’s just a dream—or a stunt. it’s unclear whether West is really running. He does not […]
Oregon State Police said Monday that an officer who flashed the “OK” hand symbol at a far-right protestor did nothing wrong. The cop was filmed making the gesture as he approached the man, who slapped him chummily on the shoulder in response, during a protest in Salem, Oregon. An interaction between a cop and a […]
For all their amazing growth over the past 25 years, the most impressive thing about the monumental rise of Amazon might be the speed and sophistication of their lightning-fast delivery network. Sometimes it doesn’t even take 24 hours for the idea you ordered to be perched right on your front porch, ready for use. The […]
You could actually watch a Tyrannosaurus Rex walk down your street right now. And no, this isn’t the latest Jurassic Park sequel. Of course, it isn’t real either, just a Google recreation of some pretty realistic looking dinosaurs transplanted right into any environment around you courtesy of augmented reality. Yet it’s just another example of […]
A guy on the Apple discussion forum started a thread titled, “Why do your Charger Cables have the lifespan of a housefly?” That question is probably enough to elicit a whole bunch of head nods from virtually everyone reading this, whether you’re an iPhone user, an Android owner or have virtually any device that needs […]