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this post was submitted on 07 Jul 2024
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Yeah and if it were some mundane claim it would probably get away with it. But its always something outlandish like say being able to perform fully automated blood tests with a single drop of blood.
For a hot minute, Elizabeth Holmes had a company with a multi-billion dollar valuation based on her specious claims. It doesn't seem like the risk of getting caught deterred her from committing a phenomenal fraud, or rendering false results to thousands of patients who relied on it during her initial testing. The enormous immediate profit and prestige drowned out the nagging fear of getting caught.
Also, the people investing in her company really should have done more independent research than they did.