Artificial Intelligence1 min read

Theranos whistleblower Tyler Shultz warns that the AI boom is ‘a great opportunity to go deceive people’

By · Via TechCrunch · Published by Everything Blog

In short

The cautionary advice follows reflections on how Theranos founder Elizabeth Holmes leveraged informal funding practices to gather hundreds of millions of dollars without delivering verifiable diagnostic technology. A recent documentary reveals that Holmes pursued a new healthcare venture dubbed "Theranos 2.0" that reportedly raised around $20 million prior to her prison sentence. Due diligence is becoming harder as superficial artificial intelligence wrappers mask a lack of genuine innovation. Experts insist rigorous verification is critical to prevent dangerous market deceptions.

Key points

  • Unprofitable technology companies are securing massive valuations despite significant dif…: Unprofitable technology companies are securing massive valuations despite significant difficulties in conducting thorough due diligence.
  • Handing over massive amounts of venture capital without rigorous proof grants founders da…: Handing over massive amounts of venture capital without rigorous proof grants founders dangerous levels of corporate power.
  • Investors risk falling victim to fraud if they fail to demand strict technical verificati…: Investors risk falling victim to fraud if they fail to demand strict technical verification during current market booms.

Sources checked by our analysis pipeline: 1

“You Can See Everything,” the documentary capturing disgraced Theranos founder Elizabeth Holmes’ final weeks before prison, is sparking national conversation as it becomes one of the highest-grossing documentaries of all time. The film, directed by Nathan Fielder and Lance Oppenheim, intentionally refuses to characterize Holmes as a master manipulator or victim, instead highlighting her uncanny, almost hypnotic knack for making people pity her, even when they’re well aware of her crimes.

Tyler Shultz didn’t need to see “You Can See Everything” to make up his mind about Holmes. Shultz, whose first job out of college was at Theranos, was a key whistleblower who exposed the company’s dangerously inaccurate blood testing devices, which made their way into Walgreens stores and delivered faulty results to real patients. (Theranos reached a peak valuation of around $10 billion despite its technology never actually working — the company only used its own machines for a fraction of tests, instead outsourcing others to third-party equipment.)

There is little reason to keep talking about Holmes — her case is closed, and she’s in federal prison — but…

Artificial Intelligence