Comments by "Reecom98" (@reecom9884) on "Theranos founder Elizabeth Holmes found guilty of defrauding investors" video.

  1. It’s amazing how greed can overcome common sense in people. A nineteen year old college dropout without prior medical experience comes up with a revolutionary blood testing unit that’s smaller than a suitcase to do testing that took a whole laboratory to do. It’s like a fraudster selling the “Brooklyn Bridge” to rich stupid people. She was the typical “Snake Oil Saleswomen”. The “Snake Oil” was sold as being able to cure every illness. The “Snake Oil” would taste terrible, but it contained a small amount of narcotic. The foul taste conformed to the buyer’s perception that medicine should taste bad, and the narcotic dulled his pain; so therefore it must be working. She assembled small units that had known blood testing devices installed that worked to a small degree, but they were not very accurate or were repeatable in their results. She used old white men with name recognition without any technical background to push her “Snake Oil” blood test units. She kept her technical staff isolated from each other, so no one could see the big picture; they just worked on small parts to assemble or program the device.
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