Cramm for 1/4/22


Everyone is talking about Elizabeth Holmes. 



Nearly two decades ago, a woman named Elizabeth Holmes founded this thing called Theranos. She claimed she had created a blood test that could quickly detect a long list of ailments with just a few drops of blood. Over the years, Theranos was touted as a revolutionary health technology biz…until it all came crashing down. Hint: the blood tests…didn’t actually work. Even worse? There was evidence that Holmes knew all along, but continued to mislead patients and investors. 



Lately, Holmes has been on trial for, you know, all of the above. And yesterday, after 50 hours of deliberations, the jury finally reached a verdict. 



Elizabeth Holmes is guilty. The jury of eight men and four women convicted her of three counts of wire fraud and one count of conspiracy to commit wire fraud by lying to investors to snag money for Theranos. But she was acquitted on four other counts related to defrauding patients who had used the biz’s blood tests - not to mention the jury was unable to reach a verdict on three counts of deceiving investors. Either way, Holmes now faces decades in jail, with each count carrying a maximum sentence of 20 years. A sentencing date is expected to be set next week. 



This marks one of the few times a technology exec has been charged with fraud - let alone convicted. TBD on how it shapes Silicon Valley. 


CORONAVIRUS: The FDA just approved Pfizer’s booster shot for kids aged 12 to 15 - plus rec’d that everyone 12 and up wait just 5 months between the second dose of Pfizer and the booster. This comes as the US recorded 1 million new coronavirus cases in a single day - shattering the previous highest daily count. In response, some US schools are going remote again. Globally, gov officials are continuing to intro new measures to fight the surge. The Philippines just ordered another wave of lockdowns, while Hong Kong is expanding its “vaccine bubble” to include places like restaurants and gyms (meaning only vaxxed people will be allowed into these venues). And meanwhile, Spain is investigating major cases of theft or illegal trafficking of covid tests. See: 208,000 tests were just stolen from a warehouse. 


WORLD: The other day, South Africa’s Parliament was hit with a fire that basically gutted the buildings and was not fully extinguished until this morning. Now, a 49 year old man from Cape Town has been charged with arson, theft, housebreaking, possession of explosives, and breaking state security laws in connection with the fire. Stay tuned. Meanwhile, Haitian Prime Minister Ariel Henry was reportedly the target of an unsuccessful assassination attempt over the weekend. Gunmen tried to shoot Henry at a church in the northern city of Gonaïves. This comes just months after Haiti’s prez was assassinated. In other news, a Hong Kong activist was just sentenced to 15 months in jail for organizing a vigil to commemorate the 1989 Tiananmen Square crackdown. It’s her second conviction over the banned vigils. 


BIZ: ICYMI, Verizon and AT&T (as in the telecommunications bizes) were set to intro new 5G wireless services - until the Federal Aviation Admin got involved and warned that the tech could potentially interfere with sensitive aircraft electronics. At first, the bizes pretty much ignored the FAA, but now, it looks like they’ve agreed to delay their planned 5G rollout for two weeks. In other news, Airbnb hosts in the state of Oregon will no longer be able to see guest names before approving a stay. Instead, they’ll only see the initials of guests until a booking is confirmed. The why: three Black women from Portland sued, alleging the site’s display of names and pictures lets hosts discriminate against guests based on race. 


$3 trillion:” Apple’s market value. It’s the first US biz to hit that milestone. 


“Archaeologists find mummy thought to be up to 1,200 years old” - an actual headline. Unfind it. 

ICYMI, Cramm This Book is coming on February 15, 2022! Cramm This Book is a dive into the history that’s shaped the world as it is today, looking at the wars, the movements, the disasters, and more. Pre-order your copy today!
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The Cramm · The Cramm · Santa Barbara, CA 93101 · USA