The devices were never sold to third parties I believe. When they were asked how it worked it was 'proprietary '. Staff forced to sign confidentiality agremeents. It was a fairly sophisticated long con.
Nobody seems to have mentioned the documentary about this (made several years ago). I doubt there’s much that would have emerged in the trial that wasn’t already unearthed.
Pretty incredible how many people fell for it. OTOH the history of medicine and technology is littered with scams, and oftentimes people knew what was going on but they went along with it, because they figured there’d be a payoff for themselves before the house of cards collapsed. The whole dot-com boom was predicated on flipping worthless stocks in a merry-go-round of fraud.
About 50% of modern medicine is either a scam, or just worthless nonsense; sick people tend to grasp at straws, and that’s a nice market for people with atrophied consciences. We could perhaps mention the biggest medical scam in human history at this point, so vast that it makes Holmes look like a rank amateur, particularly since she’s going to jail and they are not. But there are other threads for that.
I think there are several, depending on how you consider a “documentary”. You mean “Blood money”? I watched several videos on this a while back, and I couldn’t believe how long this went on and how much money they got from investors.
Well it got validated early on by some high profile people.
Then it looks like it could be a good target for venture funds making bank. As long as they could flip it at some point and make that profit.
A lot of silicon valley companies over promise on hopium.
I know of some similar medical device projects now to be honest , but they are far more careful/sophisticated in how they go about things. I mean they sell a product that actually works to a certain degree and get doctors to validate it rather than themselves .
That anybody working in the business knows that it is massively over valued for what it does…Well…Do you call that fraud or dumb investors ?
What got her over the line in milking the money from the gullible investors was Holmes. He was the one who recruited big names like Henry Kissinger, George Shultz, Jim Mattis. These big names gave credibility to the scheme.
I was thinking about this thread in relation to the language learning app that was fishing for donations with buzzwords, name drops, and allusion to “research”. Thanks for bumping it!
This sounds like a plot of a steamy femme fatale movie, like The Last Seduction, where Linda Fiorentino gets a lover to kill he ex husband.