theguardian.com
Holmes's Partner Raises Millions for Blood-Testing Company Resembling Fraudulent Theranos
Billy Evans, Elizabeth Holmes's partner, secured nearly $20 million in funding for his new blood-testing company, Haemanthus, which shares similarities with Holmes's fraudulent Theranos, prompting ethical concerns and regulatory scrutiny.
- What are the key similarities between Haemanthus and the fraudulent Theranos, and what immediate concerns do these similarities raise?
- Billy Evans, Elizabeth Holmes's partner, has raised nearly $20 million for his new blood-testing company, Haemanthus, which bears striking similarities to Holmes's fraudulent Theranos. Haemanthus plans to use laser technology to analyze blood, urine, and saliva samples for diagnoses in animals initially, then humans. This raises concerns given Holmes's conviction for fraud.
- How might Evans's relationship with Holmes and her potential involvement in Haemanthus influence investor perception and regulatory response?
- Haemanthus's business model closely mirrors that of Theranos, raising ethical questions about the potential for similar fraudulent activities. The company's marketing materials boast rapid, accurate diagnostics, echoing Theranos's false claims. Evans's relationship with Holmes and her reported advisory role further amplify these concerns.
- What long-term systemic changes, if any, might result from Haemanthus's activities, particularly regarding investor behavior, regulatory oversight, and public trust in the health-tech sector?
- Haemanthus's fundraising success despite its resemblance to the infamous Theranos raises concerns about investor due diligence and the potential for future regulatory scrutiny. The long-term implications could include further erosion of public trust in health-tech startups and stricter regulatory oversight.
Cognitive Concepts
Framing Bias
The article's headline and opening sentences immediately highlight the connection to Elizabeth Holmes and Theranos's failure, setting a negative tone and framing Haemanthus as inherently suspicious from the start. This framing influences the reader's perception before presenting any details about Haemanthus's technology or business plan.
Language Bias
Words like "strikingly similar", "bombshell investigations", "illegitimate", "fraud", and "scandal" are used to create a negative and suspicious atmosphere around Haemanthus. Neutral alternatives could include words like "similar", "investigations", "inaccurate", "legal proceedings", and "controversy".
Bias by Omission
The article focuses heavily on the similarities between Haemanthus and Theranos, and Elizabeth Holmes's involvement, but omits discussion of the potential validity of Haemanthus's technology or independent verification of its claims. It also doesn't explore the perspectives of investors who chose to invest in Haemanthus despite the Theranos scandal. This omission could lead readers to assume Haemanthus is inherently fraudulent without sufficient evidence.
False Dichotomy
The article implicitly sets up a false dichotomy by focusing on the similarities between Haemanthus and Theranos, suggesting that because Theranos failed, Haemanthus is likely to fail or be fraudulent. It doesn't explore the possibility that Haemanthus's technology is genuinely different or improved.
Gender Bias
The article mentions Holmes's romantic partner and the fact that she is the mother of his children. While this is relevant context, it could be argued that focusing on this aspect disproportionately emphasizes her personal life rather than the business aspects of Haemanthus. There is no overt gender bias but the focus on her personal life in relation to her business could be considered problematic.
Sustainable Development Goals
The article highlights the launch of Haemanthus, a blood-testing company with similarities to the fraudulent Theranos. This raises concerns about potential misrepresentation of technology and inaccurate diagnoses, directly undermining efforts to ensure good health and well-being. The past failures of Theranos demonstrate the severe consequences of false claims in the healthcare sector, potentially leading to misdiagnosis, delayed treatment, and harm to patients. The fact that Evans, despite his relationship with Holmes and knowledge of Theranos's fraudulent activities, is pursuing a similar venture, exacerbates these concerns.