Did Elizabeth Holmes get to keep all her awards?

today we're gonna take a look at what happened to the awards of Elizabeth Holmes like for instance the horatio alger association honoring perseverance integrity and excellence well they had one of the three integrity and excellence yeah not so sure so ah this is just full right so it turns out they didn't so strip her of a reward because their lifetime awards but some of the quotes in her acceptance speech I just so perfect if you can imagine it you can achieve it never never never give up even when your company has gone from nine billion dollars to zero dollars throughout her work at the engineering school in Stanford Holmes had been thinking about better ways to conduct lab tests yes I'm sure someone just starting out in their first year at Stanford in an engineering school has so much to contribute to how they conduct medical tests in 2003 she applied for a patent for a wearable patch that would help administer a drug monitor the variables in the patient's blood and adjust the dosage to achieve the desired level yeah that was pure fiction the pure Star Trek and the stuns me today that anyone ever took me seriously after that shortly after you know she proposed her impossible device she decided to drop out of school and start a business Holmes established what was then named real time cures in Palo Alto but yeah apparently real time cures really a random patch is going to cure of everything she later changed the name to theranos an amalgamation of the word therapy and diagnosis which is basically exactly the same thing therapy and diagnosis that well what they arose end up doing it was just diagnosis all right right so it wasn't gonna be therapy in diagnosis it was therapy in time for Diagnostics to be useful for more than decades he let their uh knows from the concept to reality enabling a new paradigm of early detection and prevention all this really has an eight so well the company's breakthrough advancements have made it possible to quickly process the full range of laboratory tests from a few drops of blood instead of numerous troops at unprecedented low costs oh boy those advancements were made directly accessible to people and their physicians through thorough notes wellness centers this really could do with like an update of some sort ah yes in an offering advice to college students I'm sure that's what every college student wants his advice from their biggest a billionaire scam in Silicon Valley history she points out the importance of finding ones passion scam and realizing one's full potential especially likes to quote Winston Churchill who said never never never give up I say this too that Churchill never never never give up as well as her own belief that if you can imagine it you can achieve it yeah this really hasn't ate so well we live in such an incredible country a 19 year old can drop out of school and build something like Sarah knows yeah this is indeed an incredible country I didn't believe this can happen only for me here anyone who has a dream in our country can make it a reality Holmes encourages girls and young women to pursue science and technology okay that's fair enough I hope to help young women that they can be the best in the field success in business great mother's being able to do whatever I can to contribute in the context matters deeply to me and I strive to live my life in such a way that I might serve as a proof point for others it really hasn't aged so well but apparently she got an honorary degree from Pepperdine Pepperdine University which pepper Dean told the street that there there's no intention of rescinding Holmes's honorary degree that it awarded last year bestowed the honorary doctorate of Humane Letters degree on Holmes last year when she was delivering the commencement speech to 2015 graduates pepper Dean touted Holmes and thoroughness for its blood testing technology for supposedly being able to simply simplify the way the lab Diagnostics are conducted yada yada yada early detection of disease but this one is maybe the most epic so this is actually written by the guy who's Dean and now one of the Harvard Medical Schools or something when this was all going on my goal here is not to recount or explain the disaster being explained how in the midst of it homeless became a member of the Harvard Medical School Board of fellows if only briefly during my time as dean so yeah yeah this is the thing you don't get a Dean of Harvard without being fairly decent so I mean there is this other element that you know once you get into the higher echelons of universities they tend to pick up more administrators and scientists but yeah even at that you you you've earned your chops by the time you're you know deed at Harvard of anything all schools at Harvard have a single fiduciary body the Harvard corporation the oldest corporation in the Western Hemisphere okay I didn't know that but you know it this is one of the reasons why places like Harvard have a fairly respected name with 30 members meeting monthly most of the schools create non-fiduciary boards of accomplished people to advise the deans and other senior administrators on important matters I was just a little different I'm a yeah she didn't really have any qualifications at all and she was still invited on the Harvard Medical School's border fellows is truly an extraordinary group with accomplishments in diverse areas of health education business and philanthropy I appointed many members and my interactions with the border Filosa was invaluable to my deanship many became friends in the the soil regrettable member with the aforementioned Elizabeth Holmes how did this mistake occur we're always on the lookout for member boards we sought youth record of entrepreneurship and devayne of health and we were conscious of the value of greater gender balance no no no there is no value in greater gender balance there is only value actually having qualified people on the board I mean if they're all women I don't care but ghin the pants does nothing for you here enter Elizabeth Holmes who had heard of through the New York Magazine through famed journalist describing her impossible right to multibillion a status CEO sounded like the future Apple company of medical diagnostics should I smell her ass right away I mean I did and you know it's just one of those things to maybe do something ten times better hundred times better fine to claim to do with everything a hundred times better on a hundred times less blood a hundred times cheaper now anyway shortly thereafter her office or let me know that she would see me speaking in Harvard and invited me to have lunch with her happily accepted to explore the possibility that she might be on the Harvard Medical School I said cool name he's still not down any toes writing around during Allen to the Harvard Medical Faculty she gave me the thorough knows pitch and it was predictably transformative I pushed back on several issues including her view that everyone was terrified of Venus drawers I didn't agree and my concern the too much testing would lead to over diagnosis this is another serious concern that basically you give a load of people a bunch of results they really don't know what they mean and so they're gonna need doctor explained to him anyway anyway her response my queries was disappointingly bland and in retrospect I should have accorded these concerns more weight yet I asked her to consider interacting with a Harvard Medical School in some way she told me she turned now numerous board appointments but would be thrilled to join us join in support of our school in line with our border fellow who's not being a fiduciary body the process of her having new members was relatively informal a meets with the board and they sort of agree as if written in a crazy movie script on the morning that the Wall Street Journal published the front page story by Carrie room that's the one basically saying that Thoreau no she's a fraud lightly based on a fraud Elizabeth remained and imaginably calm and unflustered during the meeting of course people have been telling you for years that it didn't work well why should she pay any more attention now that it's some journal saying the same thing but throughout the two-day meeting everyone talked privately about the cosmic anomaly till now the garner a Harvard Medical School graduate now at Stanford and a member of the board of fellows knew and had a very negative view of Elizabeth but hadn't been asked about her over the next several months we had an internal debate between keeping her on the board for a while out of fairness into process so the knives were basically out already or I am or asking to resign to limit in Chile institutional reputational damage yes I'm having someone who is basically a complete fraud and the antithesis of competent healthcare on your board anyway Esav information became public the Bauman's decisively swung and she was quietly asked to resign from the board of fellows what lessons did we learn from the involvement in thoroughness Kate greater due diligence is indeed even the non-fiduciary board she might have been the next pill yeah and not next Steve Jobs to avoid getting burned by the hot iron post diligence and good fortune are required as there are in so many aspects of institutional government and this is a distinguished service professor yeah it seems sort of formally Dean of Harvard Medical School anyway so there are three comments and this one is by far the most damning when I was called for interview to thorough notes and could not even get a word out of them to explain the workings their apparent of marvelous contraption I realized that there was something just not right that was a year and a half before the Wall Street Journal article and the alarm bells rung even for me then it's time for academics to start using their own god-given intuition yeah good fortune has nothing to do with such debacles failure to give skeptical oversight thorough knows the thoroughness miracle and instead to see it for what it was a to good to be true piece of alchemical wishful dreaming promoted by an attractive and persuasive true believer young woman is what self suckered the Harvard med folks into joining the thoroughness bandwagon history repeats and repeats itself anyone wanted to buy stock in my Dutch tulip import venture just give me a call so stunningly even though she was going around telling people that she basically achieved miracles when she hadn't basically to people's faces one of the most antithetical things to good science although these people didn't see fit to actually strip her of her awards or honorary degrees anyway so if you enjoyed that I'd give the video a thumbs up and have you enjoyed it and see you next time

Channel: VoiceOfThunder

Views: 132,709

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Id: 416wLS8sZSg

Length: 13min 41sec (821 seconds)

Published: Tue Feb 25 2020