adplus-dvertising
Connect with us

Business

Smelling blood: Trial of Theranos founder Holmes gets under way – Al Jazeera English

Published

 on


Prosecutors accused Theranos founder Elizabeth Holmes of ‘lying and cheating’ as opening statements got under way in her highly-anticipated fraud trial.

Opening statements got under way in the highly anticipated $9bn fraud trial of Theranos founder Elizabeth Holmes, with prosecutors portraying her as a liar and her defence team insisting she was merely a hardworking biotech boss whose once-hyped blood-testing startup had failed.

Holmes, 37, has pleaded not guilty to 10 counts of wire fraud and two counts of conspiracy. She could face 20 years in prison if convicted.

She is accused of making false claims about the now-defunct Theranos, including technologies it was developing that it claimed could test for hundreds of diseases by extracting only a few drops of blood from a finger prick.

Holmes said that the blood samples would be tested in a machine it was designing named “Edison” after the famous inventor Thomas Edison, and that they would cost a fraction of traditional tests that required getting a doctor’s sign-off and drawing whole vials of blood from a patient.

The promise of disrupting healthcare with a lower-cost, less invasive blood-testing technology helped Holmes secure a marquee board that included politicians and former diplomats. She also attracted investments from business luminaries such as media mogul Rupert Murdoch and Oracle co-founder Larry Ellison.

“This is a case about fraud – about lying and cheating to get money,” Robert Leach, a member of the prosecution team, told jurors during his opening statement.

“She had become, as she sought, one of the most celebrated CEOs in Silicon Valley and the world. But under the facade of Theranos’s success there were significant problems brewing,” Leach added.

Holmes lawyer Lance Wade spoke after the prosecution.

“Elizabeth Holmes did not go to work every day intending to lie, cheat and steal. The government would have you believe her company, her entire life, is a fraud. That is wrong. That is not true,” Wade said. “In the end, Theranos failed and Ms Holmes walked away with nothing. But failure is not a crime.”

Holmes had a backstory worthy of a Silicon Valley legend in the making. A Stanford University dropout at age 19, she filed her first patent before she turned 20 and founded Theranos in 2003.

At the height of the hype surrounding Theranos, Holmes’s wealth was estimated at $4.5bn, reflecting her 50 percent stake in the firm.

But the startup collapsed in speculator fashion after a series of articles by The Wall Street Journal revealed that Theranos’s devices were flawed and inaccurate.

Some of Theranos’s wealthy investors, as well as former board members, are expected to testify during the trial presided over by US District Judge Edward Davila.

Leach told jurors that evidence will show that Holmes agreed with former Theranos chief operating officer Ramesh “Sunny” Balwani to carry out a scheme to defraud the firm’s investors and patients after it lost interest from pharmaceutical companies.

“Out of time and out of money, Elizabeth Holmes decided to lie,” said Leach.

Balwani, who has also pleaded not guilty to charges against him, is scheduled to be tried separately.

If Holmes takes the witness stand during the trial, her lawyers have indicated in recently unsealed filings that she will testify that some of her statements and actions while at the helm of Theranos were the result of “intimate partner abuse” inflicted on her by Balwani.

Balwani’s lawyer has denied Holmes’s allegations.

Adblock test (Why?)

728x90x4

Source link

Continue Reading

Business

Stop Asking Your Interviewer Cliché Questions

Published

 on

Most job search advice is cookie-cutter. The advice you’re following is almost certainly the same advice other job seekers follow, making you just another candidate following the same script.

In today’s hyper-competitive job market, standing out is critical, a challenge most job seekers struggle with. Instead of relying on generic questions recommended by self-proclaimed career coaches, which often lead to a forgettable interview, ask unique, thought-provoking questions that’ll spark engaging conversations and leave a lasting impression.

English philosopher Francis Bacon once said, “A prudent question is one half of wisdom.”

The questions you ask convey the following:

  • Your level of interest in the company and the role.
  • Contributing to your employer’s success is essential.
  • You desire a cultural fit.

Here are the top four questions experts recommend candidates ask; hence, they’ve become cliché questions you should avoid asking:

  • “What are the key responsibilities of this position?”

Most likely, the job description answers this question. Therefore, asking this question indicates you didn’t read the job description. If you require clarification, ask, “How many outbound calls will I be required to make daily?” “What will be my monthly revenue target?”

  • “What does a typical day look like?”

Although it’s important to understand day-to-day expectations, this question tends to elicit vague responses and rarely leads to a deeper conversation. Don’t focus on what your day will look like; instead, focus on being clear on the results you need to deliver. Nobody I know has ever been fired for not following a “typical day.” However, I know several people who were fired for failing to meet expectations. Before accepting a job offer, ensure you’re capable of meeting the employer’s expectations.

  • “How would you describe the company culture?”

Asking this question screams, “I read somewhere to ask this question.” There are much better ways to research a company’s culture, such as speaking to current and former employees, reading online reviews and news articles. Furthermore, since your interviewer works for the company, they’re presumably comfortable with the culture. Do you expect your interviewer to give you the brutal truth? “Be careful of Craig; get on his bad side, and he’ll make your life miserable.” “Bob is close to retirement. I give him lots of slack, which the rest of the team needs to pick up.”

Truism: No matter how much due diligence you do, only when you start working for the employer will you experience and, therefore, know their culture firsthand.

  • “What opportunities are there for professional development?”

When asked this question, I immediately think the candidate cares more about gaining than contributing, a showstopper. Managing your career is your responsibility, not your employer’s.

Cliché questions don’t impress hiring managers, nor will they differentiate you from your competition. To transform your interaction with your interviewer from a Q&A session into a dynamic discussion, ask unique, insightful questions.

Here are my four go-to questions—I have many moreto accomplish this:

  • “Describe your management style. How will you manage me?”

This question gives your interviewer the opportunity to talk about themselves, which we all love doing. As well, being in sync with my boss is extremely important to me. The management style of who’ll be my boss is a determining factor in whether or not I’ll accept the job.

  • “What is the one thing I should never do that’ll piss you off and possibly damage our working relationship beyond repair?”

This question also allows me to determine whether I and my to-be boss would be in sync. Sometimes I ask, “What are your pet peeves?”

  • “When I join the team, what would be the most important contribution you’d want to see from me in the first six months?”

Setting myself up for failure is the last thing I want. As I mentioned, focus on the results you need to produce and timelines. How realistic are the expectations? It’s never about the question; it’s about what you want to know. It’s important to know whether you’ll be able to meet or even exceed your new boss’s expectations.

  • “If I wanted to sell you on an idea or suggestion, what do you need to know?”

Years ago, a candidate asked me this question. I was impressed he wasn’t looking just to put in time; he was looking for how he could be a contributing employee. Every time I ask this question, it leads to an in-depth discussion.

Other questions I’ve asked:

 

  • “What keeps you up at night?”
  • “If you were to leave this company, who would follow?”
  • “How do you handle an employee making a mistake?”
  • “If you were to give a Ted Talk, what topic would you talk about?”
  • “What are three highly valued skills at [company] that I should master to advance?”
  • “What are the informal expectations of the role?”
  • “What is one misconception people have about you [or the company]?”

 

Your questions reveal a great deal about your motivations, drive to make a meaningful impact on the business, and a chance to morph the questioning into a conversation. Cliché questions don’t lead to meaningful discussions, whereas unique, thought-provoking questions do and, in turn, make you memorable.

_____________________________________________________________________

 

Nick Kossovan, a well-seasoned veteran of the corporate landscape, offers “unsweetened” job search advice. You can send Nick your questions to artoffindingwork@gmail.com.

Continue Reading

Business

Canadian Natural Resources reports $2.27-billion third-quarter profit

Published

 on

 

CALGARY – Canadian Natural Resources Ltd. reported a third-quarter profit of $2.27 billion, down from $2.34 billion in the same quarter last year.

The company says the profit amounted to $1.06 per diluted share for the quarter that ended Sept. 30 compared with $1.06 per diluted share a year earlier.

Product sales totalled $10.40 billion, down from $11.76 billion in the same quarter last year.

Daily production for the quarter averaged 1,363,086 barrels of oil equivalent per day, down from 1,393,614 a year ago.

On an adjusted basis, Canadian Natural says it earned 97 cents per diluted share for the quarter, down from an adjusted profit of $1.30 per diluted share in the same quarter last year.

The average analyst estimate had been for a profit of 90 cents per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Oct. 31, 2024.

Companies in this story: (TSX:CNQ)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Business

Cenovus Energy reports $820M Q3 profit, down from $1.86B a year ago

Published

 on

 

CALGARY – Cenovus Energy Inc. reported its third-quarter profit fell compared with a year as its revenue edged lower.

The company says it earned $820 million or 42 cents per diluted share for the quarter ended Sept. 30, down from $1.86 billion or 97 cents per diluted share a year earlier.

Revenue for the quarter totalled $14.25 billion, down from $14.58 billion in the same quarter last year.

Total upstream production in the quarter amounted to 771,300 barrels of oil equivalent per day, down from 797,000 a year earlier.

Total downstream throughput was 642,900 barrels per day compared with 664,300 in the same quarter last year.

On an adjusted basis, Cenovus says its funds flow amounted to $1.05 per diluted share in its latest quarter, down from adjusted funds flow of $1.81 per diluted share a year earlier.

This report by The Canadian Press was first published Oct. 31, 2024.

Companies in this story: (TSX:CVE)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Trending