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THERANOS FOMO KEPT THE DEVOS FAMILY FROM DOING ITS INVESTMENT HOMEWORK
https://www.theverge.com/2021/10/26/22747918/theranos-devos-due-diligence-fraud-trialThe verge has been covering the Holmes trial, and this stood out for me on their way to losing 100 million:
Theranos said a lot of things to Lisa Peterson that made the company seem credible when she evaluated it on behalf of the crazy-wealthy DeVos family. One of the things that stood out as a reason to trust Theranos and Elizabeth Holmes? Its devices didn’t need FDA approval.
That made it seem more credible that the machines worked, said Peterson, who works on investments for the DeVos clan (including former secretary of education Betsy DeVos), and who testified today during US v. Elizabeth Holmes.