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Finally, after much of the reporter’s work was published and went unrefuted, Tyler Shultz succeeded in convincing his grandfather that the company was fabricating its results. Just as Theranos collapsed and criminal investigations began into its active directors,
Finally, after much of the reporter’s work was published and went unrefuted, Tyler Shultz succeeded in convincing his grandfather that the company was fabricating its results. Just as Theranos collapsed and criminal investigations began into its active directors, the two were reconciled.
February 6, 2021
Deceased (1920–2021)
He was also a prominent and hands-on board member of Theranos, which defrauded more than $700 million dollars from its investors before it collapsed.
By 2015, Forbes had named Holmes the youngest and wealthiest self-made female billionaire in America on the basis of a $9-billion valuation of her company.
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Currently, Shultz is the CEO and Co-Founder of Flux Biosciences, Inc., a bay-area start-up. Flux Biosciences aims to bring medical grade diagnostics into the homes of consumers by using cutting-edge technology to measure biomarkers related to stress, exercise, and fertility.
The younger Shultz met Holmes after his grandfather joined the Theranos board in 2011—Holmes packed the board with establishment types like George Shultz and Henry Kissinger who knew absolutely nothing about biomedicine—and Tyler went to work at Theranos after graduating from Stanford.
February 6, 2021
100 years (1920–2021)
The name Shultz comes from one of those ancient dukedoms, territories and states that would eventually form a part of present day Germany. At its birth in the Middle Ages, it was used to indicate someone who worked as a town-mayor derived from the medieval name “Schultheis” which has the same meaning.
Deceased (1920–2021)
Scarcely a month after Cheung started her new job, she said she began finding problems with the technology that was supposed to revolutionize blood testing by enabling a full range of tests on a few drops of blood. Ultimately, Cheung resigned and blew the whistle to the government on what she saw at Theranos.
Henry Kissinger
John D. Rockefeller is held to be the world’s first official billionaire, achieving that status in 1916 largely through his ownership of Standard Oil.
“There were so many systems that had to fail to allow Theranos to happen,” Shultz, 29, said in a telephone interview. “But in this kind of post-Covid world, I do see a lot of opportunity for fraud. The science side is moving really, really fast. Corners are going to be cut.
New York, New York, United States
But Tyler Shultz, 28, didn’t even recognize that he was in a whistleblowing situation when he discovered fraud at the now-infamous blood-testing company.
After starting his job as a research engineer on the assay validation team, which was responsible for verifying the blood tests run on Theranos’ Edison machine, Tyler noticed significant quality control failures.
Over the proceeding months, the reporter John Carreyrou exposed how the testing devices the Silicon Valley darling said could perform a variety of medical tests with just a drop of blood were not actually being used to perform most of the analyses.
Key Background. Holmes faces a total of 12 charges—two counts of conspiracy to commit wire fraud and 10 counts of wire fraud—for allegedly engaging in a multimillion-dollar scheme to deceive investors, doctors and patients from 2010 to 2016 alongside Balwani, with whom she was romantically involved.
June 5, 2004