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.
The Fashion Institute of Technology has apologized for a “clearly racist” show where a black model was asked to wear giant red lips and black plastic ears. The model refused, but white colleages were photographed on the catwalk wearing the bizarre prostheses. The college’s president is not sure if there was an explicitly racial comment […]
Burger King’s switching to preservative-free ingredients, and chose to market this fact by showing what will now happen to its sandwiches if they are left out uneaten. Welcome to the intersection of advertising and earned media, puke bags are under the seats.
Michael Avenatti, the pugnacious lawyer who rose to fame representing porn star and Trump mistress Stormy Daniels, is now a convicted criminal. A jury found him guilty today of trying to extort millions of dollars from fashion brand Nike by threatening to publicly accuse them of making illegal payments to amateur athletes. He’ll be sentenced […]
If you remember your Norse mythology (or just watched Marvel’s Thor movies), you’re probably familiar with Heimdal, the god whose ever-watchful eye was entrusted with protecting the home of the gods in Asgard. Back on Earth, Heimdal Thor is also the name of a security package from Heimdal Security, that’s actually dedicated to much the […]
Everyone’s got their nose in a phone these days, and that doesn’t seem like it’s going to change anytime soon. With the increase in mobile device and e-commerce reliance comes increased need for developers who can build the apps we’re all so glued to. In fact, employment of devs is expected to grow up to […]
Whether you love cooking at home or you swore this was going to be the year you curbed your DoorDash addiction, you know you can’t get the job done well without the proper tools on hand. For all your recipe and meal prep needs, this 3-piece Sukasu Osami Chef’s Knife set will do you right […]