She could face 20 years, or she could walk away with a new book deal, television appearances and another movie. Related: Your Startup's Core Philosophy Is The Secret Weapon For Long-Term Success, Entrepreneur Leadership Network Contributor. https://arstechnica.com/tech-policy/2018/06/disgraced-theranos-founder-elizabeth-holmes-indicted-on-criminal-charges/, Theranos Founder Elizabeth Holmes Indicted on Fraud Charges His research centers on the interplay between ethics and strategy, with a particular focus on the topics of corporate governance, business ethics and interorganizational trust. https://www.forbes.com/sites/hershshefrin/2018/04/14/the-theranos-con/2/#7cb4245a974a, Disgraced Theranos founder Elizabeth Holmes indicted on criminal charges The technology simply couldn't deliver as promised. The case of Theranos, an once high-flyer in Silicon Valley, portrays a company run by an ambitious CEO, Elizabeth Holmes, who thought she could get away with just about anything. Other allegations include: Tyler Schultz claimed to know something unethical was going on and could have major repercussions on the company. In 2018, the FDA warned the public about using lab-developed genetic tests that didn't undergo its review, noting that many rely on . Carreyrou also found that the companys own much-hyped blood sampling technology was not as accurate as Holmes and company had claimed. British Petroleum: Unethical Issues - UKEssays.com Theranos is a complicated, secretive company caught up in a fascinating, confusing scandal about medical accuracy and ethics. https://www.nytimes.com/2018/06/15/health/theranos-elizabeth-holmes-fraud.html, Web Privacy Policy For twelve years, Holmes essentially ran a Ponzi scheme by attracting investment funds from primarily venture capitalists that saw it as a unique opportunity to cash in on the boom in Silicon Valley. The issue here was that Theranos promised to deliver something, raised funds, but did not deliver in the end. Lack of Transparency. Have you watched The Dropout on Hulu? She has maintained that (according to the AP, December 7, 2021): Theranos was on the verge of perfecting a blood-testing technology that she began working on in 2003 after dropping out of Stanford University to start the company., When I testified, we could do it, I fully believe we could do it, said Holmes. FDA investigations ensued and all that was written in Johns report was proven correct. Please enable JavaScript if you would like to comment on this blog. Media tycoon Rupert Murdoch lost 120m he had invested in Theranos, Dr Phyllis Gardner told Holmes her idea would not work, On stage with former US President Bill Clinton in 2015. 4.2 Utilitarianism This ethical view focuses on the stakeholders' happiness and from this, an ideal utilitarian firm would ensure to maximize the happiness of all the .
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