The former Theranos CEO is barred from receiving payments from federal health program.

Elizabeth Holmes barred from federal health programs for 90 years::The former Theranos CEO is barred from receiving payments from federal health program.

  • TheRedSpade@lemmy.worldEnglish
    19·
    11 months ago

    So, people actually believed that an 18 or 19-year-old developed this revolutionary tech likely requiring several fields worth of knowledge to bring to fruition? I’m not familiar with the story beyond this article, but it sounds like those investors made a bad call. Not that that makes her less guilty of fraud, but if she didn’t scam them someone else would have.

    • Dremor@lemmy.worldEnglish
      13·
      11 months ago

      Investors have money, not brain. I remember an experiment where their compared a fund run by people and another one run by investing totally randomly. The second one won. Investment has never about being good at it, it was always luck that ran the game. We just hear a lot more about those who won big rather the those who ruined themselves.

      • Poutinetown@lemmy.caEnglish
        1·
        11 months ago

        There are exceptions to this, like Yale, Renaissance, Berkshire, and maybe Citadel. But most, even well-known funds, are run by incompetent people demanding extremely high fees, rendering any advantage they have over index funds essentially null (often even underperforming the market).