Tuesday, January 04, 2022
Justice
A jury has convicted Elizabeth Holmes, founder of Theranos, the blood testing company, of fraud. Its verdict sends a message to other Silicon Valley entrepreneurs that "faking it until you make it" is poor strategy and illegal. It is a needed reminder to those who start businesses that honesty and transparency are essential and lying is wrong. There is no telling how many success stories in the Valley have been built on falsehoods at the beginning but there have been more than Theranos. Founders have spun stories of imminent success and untold riches when their technologies are bug-ridden and inoperable. They seek to buy time until their systems work. That's what Theranos did and a jury has now said it is just wrong. Who next will prosecutors go after?
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