Elizabeth Holmes Conviction – Is this a Golden Era of Fraud? |
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On Monday we saw the fraud conviction of Theranos founder Elizabeth Holmes. This conviction we are told in the press has split Silicon Valley. Supporters worry that the spirit of entrepreneurship has been put in ‘jeopardy’ while others say she overstepped boundaries. Tim Draper, a venture capitalist and family friend of Holmes who provided early funding to Theranos, told the New York Times that the outcome made him “concerned that the spirit of entrepreneurship in America is in jeopardy”. He went on to say “I still believe in what she was trying to do, If this scrutiny happened to every entrepreneur as they tried to make this world a better place, we would have no automobile, no smartphone, no antibiotics and no automation, and our world would be less for it.” We have more corporate fraud trials in the pipeline. Former Nikola CEO Trevor Milton is scheduled to go on trial for criminal fraud shortly. He has pled not guilty to lying to investors about the electric truck company’s technology. Nikola Motors went public through a SPAC merger under Milton’s leadership. Peter Thiel Book - Zero To One: https://amzn.to/3F3KtGN Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Patreon Page: https://www.patreon.com/PatrickBoyleOnFinance Visit our website: www.onfinance.org Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Patrick Boyle On Finance Podcast: Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313 Google Podcasts: https://tinyurl.com/62862nve Join this channel to support making this content: https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join |