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Meet The World's Latest Self-Made Multi-Billionaire: Elizabeth Holmes of Theranos
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Simeon_Strangelight Offline
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Post: #676
RE: Meet The World's Latest Self-Made Multi-Billionaire: Elizabeth Holmes of Theranos
(12-01-2019 09:39 PM)SlickyBoy Wrote:  
(11-30-2019 04:26 PM)John Michael Kane Wrote:  He did this all while extolling the virtues of the Israeli Kibutz, changing the world and other such nonsense. He's a grifter and a fraudster, and I hope that he looses that ridiculous golden parachute. We don't need to be encouraging other parasites to follow his example. Honestly, these people need jail time.

Yep. Yet we're supposed to lose our collective minds because Chick-Fil-A doesn't open on Sunday and (until recently) gave money to the Salvation Army.

I don't understand what it is with fraudsters and wishful IPO thinking - the SEC will always step in, along with the big financial backers. That's what has to happen. Just pure ego at some point I guess.

The initial Wework business model was fine. They just did a slightly better shared office project initially. Also the first 15 mio. $ investment wasn't so bad. If they had just grown slowly but surely doing what they initially did, then the company might have been making 200-500 mio. $ in revenue and it would be profitable.
The problem began when they treated it as a tech company or marketed themselves that way, then used the cash-flow to expand well beyond any reasonable extent. They would never have been able to raise that much cash as a real estate company in that field.

The founder knew exactly that he was selling a con.

Also - even if he gets convicted of something, it wouldn't be the first Israeli or Chinese businessman who simply disappears to his homecountry with full backing of his government. Worst thing that can happen to him is that he cannot visit the US officially anymore.
12-02-2019 03:24 AM
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eradicator Offline
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Post: #677
RE: Meet The World's Latest Self-Made Multi-Billionaire: Elizabeth Holmes of Theranos
The worst thing that could happen would be if he has already shifted the 1.8 Billion in cash to an offshore bank account, sees no jailtime in the USA and flees to Israel to retire on a beach house and keeps all of the cash before the USA courts can claw it back.

You really think a Jewish huckster will turn over the cash he just stole without a fight?

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12-02-2019 03:46 AM
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Simeon_Strangelight Offline
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RE: Meet The World's Latest Self-Made Multi-Billionaire: Elizabeth Holmes of Theranos
< I expect him to pay up, if he gets a fine of a few million or even 100 mio. $, but no way in hell will he give back a bio. $+ There are other Israeli businessmen doing the very same thing. His cash can be parked in Israel forever - no need to go offshore.
12-02-2019 03:49 AM
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