MNGT 425 - Theranos
How much did Betsy Devos (Education Secratary) family invest in Theranos?
$100 million
How much Revenue did Holmes and Ramesh say it would make in 2014 and how much was it really?
$100 million+ and they had barely made $100 000 in Revenue in 2014
How many blood tests did Theranos claim their analyzers could do and how many could it actually do?
240 and could actually do one
How old is Elizabeth Holmes?
34 years old, born in 1984
Theranos Lay offs, what month and how many employees got fired? How is Elizabeth Holmes doing?
April 10th, Theranos went from 125 employees to 24 or less. Theranos had 800 Employees in 2015 Elizabeth Holmes still had two personal assistants and two security guards that drove her around in a black Cadillac Escalade SUV
CMS
Center for Medicare and medicaid Services
George Schultz
Former U.S Secratary of State Joined Theranos Board of Directors in July, 2011 after a 2 hour conversation with Holmes Graduated from Princeton PhD from MIT
Who wrote the Theranos WSJ articles?
John Carreyrou
What did Fortune Magazine do in 2016?
Names Elizabeth Holmes as one of the "World's most Disappointing Leaders" in 2016
Did Theranos blood tester work?
No, a vast majority of the tests was made by commercial analyzers from other companies
Which head-fund sued Theranos for fraud and did they get anything back?
Partner Fund Managemnt invested $96 million in early 2014, sued Theranos for fraud in 2016 and recieved a $43 million settlement
Largest Individual Investor in Theranos
Rupert Murdoch, invested $ 125 million in March 2015 and sold back his shares for $1 each in 2017 Recieved an additional $4 million from Theranos
Where is Ramesh "Sunny" Balwani fighting the SEC fraud charges?
San Jose Federal Court
What was Elizabeth Holmes the first one to do?
Silicon Valley's first female billionare
How long did Holmes and Ramesh "Sunny" Balwani run Theranos jointly?
7 Years until Ramesh retired in May, 2016
What is the name of the Education Secretary of the U.S
Betsy Devos
Where did the greatest damage go to by Theranos actions?
Public Health
Elizabeth Holmes Settlement with SEC on Fraud Charges
$500 000 Penalty fee Return all her 18.9 Million share Voting control for Theranos was taken away She can't serve as a officer or a board of director in any public company for 10 years.
When and where was Theranos founded and by who?
2003 in Palo Alto, California by a 19 year old Elizabeth Holmes who had dropped out of Stanford
What did CMS do to Theranos and what year? When did it get resolved?
CMS Banned Holmes from owning, operating or directing a diagnostic lab for two years in 2016 Theranos reached a settlement with CMS in April, 2017
Tyler Schults
Grandson of former U.S Secratary of State, George Schultz First employee to blow the whistle
What happends if Theranos cash reserves drops under $ 3 million?
If it falls under $ 3 million, Theranos assets will be seized by the lender(Fortress Investment Group) and liquidize.
Rupert Murdoch
Media Mogul that invested early in Theranos CEO of Fox News 2016 Former CEO of 21st Century Fox (2015) Executive Chairman of News Corp, which publishes the journal Murdoch Holding Company, News Corporation aquired: Twentieth Century Fox (1985) Wall Street Journal (2007) By 2000, Murdoch's News Corporation owned over 800 companies in more than 50 countries, with a net worth of over $5 billion.
Theranos former CEO and President and what age is he?
Ramesh "Sunny" Balwani, 52 years old Masters at Berkeley
Theranos settled lawsuit with Wahlgreen and a hedge-fund investor
Reimburse all patients in Arizona 200 000 dollar civil fine
What did Forbes do to Elizabeth Holmes in 2016?
Revised her net value to zero dollars due ti an updated 800 million evaluation of Theranos (She also only had common stock vs investors who had preffered stocks)
Who was Elizabeth Holmes compared to?
Steve Jobs and Apple
What was Elizabeth Holmes named by Forbes in 2015?
The youngest self-made Billionaire in the world
What happened at the end of 2017 for Theranos?
Theranos got a $ 100 million loan to stay afloat but only recieved $65 million (If she wanted the remaining $35 million she had to reach certain goals such as approval from Food and Drug administration for a blood test to detect the Zika Virus
Holmes and Ramesh falsefied claim
Theranos portable blood analyzers were used by the Defense Department in Afghanistan and on medevac helicopters
Tim Draper
Venture Capitalist who was one of the first to invest in Theranos. Draper accused the WSJ author, John Carreyrou to have a vendetta against Holmes and that the investigation was a weird conspiracy Bachelor from Stanford and MBA from Harvard
What company terminated a business relationship with Theranos?
Wahlgreens terminated a 3-year parnership with Theranos. Shut down Theranos 40 lab Testing centers.
Which investors are suffering from the biggest losses and how much did they invest?
Walton Family (Wal-Mart), invested $150 million
Ron Johnson
a. JCP Story - from Apple and Target b. Similar to Macy's story; but JCP brought in a better man c. Was loved and backed from Jobs, but once Jobs was gone...Went down in flames, hit a wall of internal opposition from old timers e. $10+ billion write off f. Bill Ackman supported Ron Johnson to the very end
