[ad_1]
NS Elizabeth Holmes’ fraud caseThere are many implications for Silicon Valley, who founded the failed blood test startup Theranos.
Its rise and fall has been held up as the ultimate test of Silicon Valley’s imitation culture until you do. With some start-ups, it’s not uncommon for founders to inflate their income or exaggerate their companies’ products to raise money and secure deals, said Margaret O’Mara, a college graduate. Washington professor who wrote a book on the history of Silicon Valley.
Miss Holmes has also immersed herself in the mythology of the tech industry. drop out of Stanford University shaped itself after late Apple co-founder Steve Jobs, founded his company in Palo Alto, California, and enjoyed laudatory media coverage.
Lawyers and others said the outcome of Ms. Holmes’ case could be a referendum on this behavior. Neama Rahmani, president of the West Coast Trial Lawyers and a former federal head of state, said they knew that if Ms. Holmes was found guilty, new entrepreneurs could be more careful in their claims to investors and partners and could be charged with fraud. Prosecutor.
However, a not guilty verdict would justify a Silicon Valley culture of celebrating aggressive innovation at the expense of all the facts, said Jeffrey M. Cohen, associate professor at Boston College of Law.
Still, some in Silicon Valley have objected to the idea that Ms. Holmes and Theranos represent the typical start-up. This is because Ms. Holmes raises most of her money from investment firms that represent wealthy families, not traditional venture capital firms that often invest in fast-growing tech startups. Ms. Holmes also produced medical devices, not software, as in many other start-ups.
That’s why some people from Silicon Valley may overlook the significance of the result, Ms O’Mara said.
[ad_2]
Source link