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The U.S. could run out of cash to pay its bills as early as Oct. 15, analysts say.

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September 25, 2021
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The U.S. could run out of cash to pay its bills as early as Oct. 15, analysts say.
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Erin Woo headshot

7 hours in the past

Erin Woo

We’ve now seen two e mail chains together with Holmes/Balwani about complaints/points that Rosendorff wasn’t included on. Rosendorff says he “completely” ought to have been included on the emails.

Erin Woo headshot

7 hours in the past

Erin Woo

Rosendorff is testifying about points with the hCG exams, which detect being pregnant. In June 2014, Christian Holmes wrote to Elizabeth: “Simply fyi-hCG proper now inflicting some severe points and affected person complaints.”

Erin Woo headshot

7 hours in the past

Erin Woo

We’re evaluating Rosendorff’s time on the College of Pittsburgh to his time at Theranos. At Theranos, complaints about check outcomes have been “rather more frequent,” and he “felt pressured to defend the corporate’s outcomes to physicians,” he stated.

Erin Woo headshot

8 hours in the past

Erin Woo

Theranos units failed so incessantly that it raised questions concerning the accuracy of the outcomes, Rosendorff testifies. Efficiency of Theranos assays was worse than non-Theranos analyzers.

Erin Woo headshot

9 hours in the past

Erin Woo

Rosendorff is now discussing high quality management. As we realized in Cheung’s testimony, high quality management occurred as soon as a day, and machines could be recalibrated in the event that they failed. This was a frequent dialogue subject at Theranos, he testifies.

Erin Woo headshot

9 hours in the past

Erin Woo

Rosendorff had a gathering w Holmes the place he expressed his issues. She was very nervous and was not her typical composed self, he stated: She was trembling, knee was shaking, she was very upset.

Erin Woo headshot

9 hours in the past

Erin Woo

In an e mail to Holmes, Rosendorff wrote that “A couple of extra weeks to kind by means of these medical and logistical points, and getting the right stage of coaching and staffing would assist us tremendously.”nd staffing would assist us tremendously.”

Erin Woo headshot

9 hours in the past

Erin Woo

An e mail from Rose Edmonds from 9 days earlier than the launch says “none of our assays are utterly by means of validation together with medical pattern testing with fingerstick.” Below CLIA legislation, the exams have to be validated correctly earlier than they can be utilized for affected person care.

Erin Woo headshot

9 hours in the past

Erin Woo

Main as much as Sept 2013 industrial launch, there was “a variety of nervousness” concerning the appropriateness of utilizing modified exams for affected person care. The final temper of the corporate was “very optimistic,” however some have been questioning why Theranos wasn’t utilizing its personal units.

Erin Woo headshot

9 hours in the past

Erin Woo

The downstairs Theranos lab, which contained the Theranos Edison units, was known as Normandy, Rosendorff stated. In keeping with Rosendorff, Balwani known as the upstairs lab with standard units Jurassic Park: Balwani “believed the standard units have been dinosaurs.”

Erin Woo headshot

10 hours in the past

Erin Woo

Rosendorff beginning sturdy with why he give up Theranos, incl. unwillingness of administration to carry out proficiency testing and feeling pressured to vouch for exams he wasn’t assured in. Additionally: “The corporate was extra about PR and fundraising than affected person care.”

Erin Woo headshot

10 hours in the past

Erin Woo

The federal government is looking former Theranos lab director Adam Rosendorff at the moment within the trial of Elizabeth Holmes. Per prosecutor John Bostic, this testimony is prone to take all day.

Erin Griffith headshot

2 days in the past

Erin Griffith

Mattis is finished and now a prosecutor is studying textual content messages between Holmes and Balwani whereas a forensics man from PWC says “sure” and “appropriate.” I assume that is how they should current this proof however it’s actually actually weird.

Erin Griffith headshot

2 days in the past

Erin Griffith

On redirect: Why did Mattis initially assist Holmes after the WSJ expose after which change his thoughts? There have been too many surprises, he stated. “We have been unable to assist her on the elemental points that she was grappling with if we solely noticed them within the rearview mirror.”

Erin Griffith headshot

2 days in the past

Erin Griffith

We take a look at Mattis’ emailed response to Holmes after the WSJ article. “Be swift in response with unassailable fact,” he wrote. “I’ve full religion in our plan.”

Erin Griffith headshot

2 days in the past

Erin Griffith

He additionally asks if Mattis knew Theranos was doing blood exams in a central lab.
Mattis: “I assumed the central Theranos lab was the Theranos machine.”

Erin Griffith headshot

2 days in the past

Erin Griffith

In cross-exam, Holmes lawyer Kevin Downey requested Gen. Mattis about his {qualifications} to judge Theranos’s know-how and be a board director.

Erin Griffith headshot

2 days in the past

Erin Griffith

Initially Mattis thought the issue was fixable — the corporate merely tousled its messaging and will come clear. Quickly after, he started to query whether or not or not the Edison machine labored. “There simply got here a degree after I didn’t know what to consider about Theranos anymore.”

Erin Griffith headshot

2 days in the past

Erin Griffith

After WSJ article, board members emailed Holmes concerning the allegations. Her response: Theranos was transitioning from working underneath one laboratory framework to a different. Mattis: “I used to be nonetheless confused.” At a minimal, “we had a repute drawback right here and an integrity drawback.”

Erin Griffith headshot

2 days in the past

Erin Griffith

Ominous. After Theranos realized a couple of 2015 WSJ article by John Carreyrou that uncovered issues with Theranos’s know-how, there was a board assembly with a slide titled “Obligation of Loyalty.” We’re proven that slide, besides it’s comically redacted — all content material blacked out — and Mattis doesn’t keep in mind it.

Erin Griffith headshot

2 days in the past

Erin Griffith

We see an e mail from Holmes instructing Mattis that, in an interview with Ken Auletta of The New Yorker, he can’t focus on “how our know-how works (i.e. that there’s a single system that does all exams)”

Erin Griffith headshot

2 days in the past

Erin Griffith

Fortune revealed an extended correction to that article, which I don’t keep in mind seeing from a variety of different retailers that wrote constructive tales. Parloff is listed as a witness and protection is trying to compel him to show over his notes.

Erin Griffith headshot

2 days in the past

Erin Griffith

Assistant U.S. lawyer John Bostic pulls up Fortune’s 2014 cowl story about Theranos. Mattis spoke to the reporter, Roger Parloff, and stated Holmes gave him steering on what he may and couldn’t say.

Erin Griffith headshot

2 days in the past

Erin Griffith

Nonetheless attempting to coach my mind to not hear “amino acid” each time they are saying “immunoassay”

Erin Griffith headshot

2 days in the past

Erin Griffith

Theranos bought a variety of mileage out of a 2013 WSJ article! We see an e mail the place Holmes sends Mattis the hyperlink, in addition to a slide of it in a Theranos board presentation

Erin Griffith headshot

2 days in the past

Erin Griffith

We’re going by means of this board presentation, which has a slide claiming Theranos’s tech had been validated by 10 of the 15 largest pharmaceutical corporations, alongside logos of FDA & WHO and a quote from Johns Hopkins.

Erin Griffith headshot

2 days in the past

Erin Griffith

What have been your sources for details about the corporate? Mattis: “Ms. Holmes.” “Was she the first supply?” “The only supply.”

Erin Griffith headshot

2 days in the past

Erin Griffith

Mattis additionally invested $85k into Theranos, which he stated was a big sum “for somebody who had been in govt. service for 40 years.”

Erin Griffith headshot

2 days in the past

Erin Griffith

Did you settle for Ms. Holmes’s invitation to hitch Theranos’s board? “Sure I did, after asking why. I used to be not a medical individual.” She stated she needed his mgmt. and organizational expertise.

Erin Griffith headshot

2 days in the past

Erin Griffith

Mattis testified that he was not conscious of Theranos units ever getting used on battlefields, navy helicopters, clandestine operations…

Erin Griffith headshot

2 days in the past

Erin Griffith

Mattis testified that Holmes was “very aggressive” at wanting the navy pilot program to get going. “She was very assured that if we bought it in there, it will show itself.” He knew it was a start-up, however famous that Holmes had been engaged on it for a decade by 2013.

Erin Griffith headshot

2 days in the past

Erin Griffith

oy, one other e mail the place Mattis calls Holmes “younger Elizabeth.”

Erin Griffith headshot

2 days in the past

Erin Griffith

Holmes was the one telling him concerning the Theranos system’s capabilities, he stated. “I used to be frankly amazed at what was potential.” However he added: “That didn’t take the place of getting the system show itself.”

Erin Griffith headshot

2 days in the past

Erin Griffith

Mattis testified the scale of the Theranos system and its promised capabilities made it so enticing to potential navy use. Accuracy and reliability have been vital given the casualties, he stated. “The stakes are very excessive.”

Erin Griffith headshot

2 days in the past

Erin Griffith

Mattis, a U.S. normal and former secretary of protection, was on Theranos’s board between 2013 and 2016.

We begin by 2011 emails between them after assembly. In a single, Mattis writes, “thanks on your observe, younger Elizabeth, and I want you each success.”

Erin Griffith headshot

2 days in the past

Erin Griffith

On the courthouse for US v. Holmes. James Mattis has taken the stand.

Erin Griffith headshot

3 days in the past

Erin Griffith

Gould’s testimony lasted round quarter-hour – From behind a transparent masks, she bought emotional discussing her expertise discovering out through Theranos exams that, after three miscarriages, her fourth being pregnant was not viable. The glad ending is that it was. She had a child. Adjourned!

Erin Griffith headshot

3 days in the past

Erin Griffith

Protection wraps up by stating that Zachman’s apply had many many check outcomes from Theranos past Ms. Gould that appeared to be superb. Decide Davila is raring to maintain going, though we’re over on time at the moment. Brittany Gould takes the stand.

Erin Griffith headshot

3 days in the past

Erin Griffith

Protection works to chip away on the testimony by implying that the Theranos check outcomes merely existed on a special scale and may have been “rebaselined.” Additionally famous that Holmes’s brother Christian, who responded to Zachman’s criticism concerning the outcomes, apologized.

Erin Griffith headshot

3 days in the past

Erin Griffith

Oh my, Theranos provided Zachman a “corrected” model of the outcomes which merely eliminated a decimal level however the she says numbers nonetheless wouldn’t have made sense throughout the context of a viable being pregnant or a lack of one.

Erin Griffith headshot

3 days in the past

Erin Griffith

“This circumstance was very impactful to me because it stood out as such a purple flag for the being pregnant.”

Erin Griffith headshot

3 days in the past

Erin Griffith

Gould took 5 blood exams, 3 from a subsidiary of Quest Diagnostics and a couple of from Theranos. She went on a rollercoaster, with the Quest check exhibiting she was pregnant, the 2 Theranos exams exhibiting a miscarriage, and a couple of extra Quest exams exhibiting she was certainly nonetheless pregnant.

Erin Griffith headshot

3 days in the past

Erin Griffith

Zachman describes the case of a affected person named Brittany Gould (sp?) who had had 3 miscarriages. She got here to see Gould after a constructive at-home being pregnant check “to ascertain that sure, she is pregnant and take a look at the well being of the being pregnant.”

Erin Griffith headshot

3 days in the past

Erin Griffith

Zachman was on a committee that evaluated service suppliers and her apply adopted Theranos blood exams round 2014. Theranos even arrange a lab downstairs from certainly one of her apply’s workplaces, which Zachman stated was “very thrilling.”

Erin Griffith headshot

3 days in the past

Erin Griffith

New witness: Audra Zachman, a nurse practitioner at an OB-GYN apply.

Erin Griffith headshot

3 days in the past

Erin Griffith

I’ve loved chatting with a few of the trial-heads and and followers of justice who’ve proven as much as watch (supplied they are not moles :). At the moment I met a retired paralegal who says he was on the Patty Hearst trial!!

Erin Griffith headshot

3 days in the past

Erin Griffith

Redirect up. US Lawyer Robert Leach reminds jurors that when Gangakhedkar resigned from Theranos, she had issues concerning the reliability of Theranos’s exams and mentioned them with Holmes.

Erin Griffith headshot

3 days in the past

Erin Griffith

Extra dangerous boss/good boss content material: We see an e mail Gangakhedkar despatched to Balwani defending how exhausting her workforce was working + an e mail she despatched to her workforce praising their lengthy hours. She then resigned from Theranos and Holmes tried to get her to remain, providing time without work.

Erin Griffith headshot

3 days in the past

Erin Griffith

Protection beforehand confirmed that Holmes let Gangakhedkar go to India to see household, portray her as a sympathetic boss and Balwani because the aggressive one. “[Balwani’s] attempting to make you are feeling responsible that you simply weren’t working?” “Sure” “You have been pissed off by that?” “Sure.”

Erin Griffith headshot

3 days in the past

Erin Griffith

We’re nonetheless doing cross-examination of Gangakhedkar.

Wade reveals an e mail from the previous Theranos president, Ramesh Balwani (who goes by Sunny), chastising the lab employees for not working as exhausting as his software program workforce, portray him because the one pushing unrealistically for overwork.

Erin Griffith headshot

3 days in the past

Erin Griffith

Zachman will now supply professional testimony on deciphering HCG exams (a hormone used to establish being pregnant standing)

You anticipate HCG ranges to double each 48 hours or so in early being pregnant.

Erin Griffith headshot

3 days in the past

Erin Griffith

Wade goes on a run of questions (peppered with “sure” responses by Gangakhedkar) arguing that the purpose of R&D is encountering points and setbacks and fixing them.

“In R&D generally you need to fail earlier than you’ll be able to succeed proper?”
“Sure.”

Erin Griffith headshot

3 days in the past

Erin Griffith

We see an e mail the place Holmes requested Gangakhedkar for some testing information forward of a gathering with the DoD. Gangakhedkar emails that Vitamin D information is not prepared and Holmes writes asking for information on different exams. The purpose is, apparently, take a look at this instance of Holmes not doing fraud.

Erin Griffith headshot

3 days in the past

Erin Griffith

The Protection technique re: Theranos lab issues appears to be: look, actual work was being achieved; there have been processes in place that certain appeared rigorous; the very folks stating issues additionally signed off on all of it.

Erin Griffith headshot

3 days in the past

Erin Griffith

Thus far it’s mainly a name and response, the place Wade describes work of Gangakhedkar + Theranos’s lab, and Gangakhedkar replies “sure.” “Had been you pleased with that work?” “Sure.” “And others on the firm have been glad about that work as effectively?” “I believe so.”

Erin Griffith headshot

3 days in the past

Erin Griffith

Again within the San Jose courtroom at the moment for extra US v Holmes. Surekha Gangakhedkar, a scientist at Theranos, is again on the stand being cross-examined by Holmes’s lawyer Lance Wade.

Erin Woo headshot

7 days in the past

Erin Woo

With that, Decide Davila is ending Gangakhedkar’s testimony for the day and instructing jurors to not eat media content material concerning the trial, as all the time. The trial will resume on Tuesday — Erin Griffith shall be on the courthouse to convey you reside updates.

Erin Woo headshot

7 days in the past

Erin Woo

We at the moment are onto cross-examination. Holmes’s lawyer is questioning her about G.S.Ok.’s research of Theranos’s assays, stating that the research promoted her work. “The Theranos system eliminates the necessity for a lab and supplied high quality information,” the G.S.Ok. memo stated.

Erin Woo headshot

7 days in the past

Erin Woo

Regardless of having signed an N.D.A., Gangakhedkar printed out some paperwork and took them dwelling when she left Theranos. “I used to be fearful that I might be blamed,” she testified.

Erin Woo headshot

7 days in the past

Erin Woo

Three days after the e-mail from Balwani, Gangakhedkar despatched Holmes her resignation e mail. She testified that she was “very pressured and sad and anxious” with the planning of the Walgreens launch.

Erin Woo headshot

7 days in the past

Erin Woo

In an e mail from Balwani to Gangakhedkar, with Holmes copied, Balwani stated the software program workforce had been working till 3:07 a.m., however that the Edison blood-testing units Gangakhedkar’s workforce labored on have been “all sitting idle.” This was an instance of the stress they have been underneath, Gangakhedkar stated.

Erin Woo headshot

7 days in the past

Erin Woo

And, with that, Cheung has been dismissed. The federal government is looking Surekha Gangakhedkar now, a former Theranos workforce supervisor.

Erin Woo headshot

7 days in the past

Erin Woo

The federal government is now asking questions on a doc that claims, amongst different issues, that Theranos’s units “might be operated with minimal coaching” and that its outcomes have “precision and accuracy equal to conventional medical laboratory analyzers.” Neither is true, Cheung says.

Erin Woo headshot

7 days in the past

Erin Woo

Cheung stated they have been continually having to recalibrate the machines, which made outcomes take 2-3 days reasonably than the couple hours promised. “We had folks sleeping within the automobile as a result of it was taking too lengthy,” she stated.

Erin Woo headshot

7 days in the past

Erin Woo

Cheung simply stated she “turned involved a couple of month in” with the vitamin D samples, in November of 2013. She was involved concerning the efficiency of the exams and that they have been getting used on affected person samples.

Erin Woo headshot

7 days in the past

Erin Woo

Protection is finished with cross-examination, after exhibiting Cheung Theranos coverage paperwork she stated she’d by no means seen. The federal government is now asking questions once more for redirect.

Erin Woo headshot

7 days in the past

Erin Woo

Holmes’s lawyer is asking Cheung a variety of questions on high quality management checks that occurred on the Theranos units. “There’s a recognition that some errors would occur and this was the coverage on easy methods to take care of these errors,” he stated.

Erin Woo headshot

7 days in the past

Erin Woo

Erika Cheung is now taking the stand as cross-examination continues.

Erin Woo headshot

7 days in the past

Erin Woo

The replace you have all been ready for: The choose is STILL announcing it ther-AH-nos.

Erin Woo headshot

7 days in the past

Erin Woo

Within the courthouse now for one more day of the Elizabeth Holmes trial. We’re anticipating to wrap up testimony at the moment from Erika Cheung, one of many key whistleblowers within the case.

Erin Griffith headshot

9 days in the past

Erin Griffith

That’s it for at the moment.🩸💉⚖️

Erin Griffith headshot

9 days in the past

Erin Griffith

Thus far the theme of the cross-exam of Cheung appears to be utilizing excruciatingly arcane particulars concerning the processes and procedures of the Theranos lab to point out that its work was very sophisticated, involving a number of sensible, pedigreed folks.

Erin Griffith headshot

9 days in the past

Erin Griffith

Cheung testified that in conferences about high quality management failures, Theranos’s lab administrators ignored the obvious potential motive for the failures: “The Edison units didn’t work.”

Erin Griffith headshot

9 days in the past

Erin Griffith

Trial gear alert: A reporter introduced their very own binoculars to see the displays on the TV screens.

Erin Griffith headshot

9 days in the past

Erin Griffith

Erika Cheung is again on the stand.

She described Theranos’s apply of demoing blood exams for V.I.P.s, the place a few of the outcomes got here from Theranos machines and others from Siemens analyzers.

Erin Griffith headshot

9 days in the past

Erin Griffith

At this level we’ve heard legal professionals and witnesses pronounce “Theranos” lots of of instances, making me begin to wonder if choose is attempting to mess with us by sticking to his “ther-AHHHHH-nos” pronunciation.

Erin Griffith headshot

9 days in the past

Erin Griffith

I ought to observe the girl who clapped and yelled “you’re a great mother!” at Holmes yesterday immediately stormed out of the courtroom after Decide Davila warned everybody that yelling stuff like that in entrance of any jurors may trigger a mistrial. I don’t see her right here at the moment!

Erin Griffith headshot

9 days in the past

Erin Griffith

Elizabeth Holmes’s entourage is down to simply her mother at the moment.



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