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Theranos CEO Elizabeth Holmes set to begin sentence at Texas prison


Disgraced Theranos CEO Elizabeth Holmes is scheduled to move to her new home – a federal prison where she has been sentenced to spend the next 11 years for overseeing a blood – testing hoax that became a parable about greed and hubris in Silicon Valley.

The federal judge who sentenced Holmes, 39, in November recommended that she be incarcerated in a women’s prison camp located in Bryan, Texas, located about 100 miles from Houston, where she grew up aspiring to become a technology visionary along the lines of Apple co-founder Steve Jobs.
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Once she enters prison, Holmes will be leaving behind two young children – a son born in July 2021 a few weeks before the start of her trial and a 3-month old daughter who was conceived after a jury convicted her on four felony counts of fraud and conspiracy in January 2022.
Holmes has been free on bail since then, most recently living in the San Diego area with the children’s father, William “Billy” Evans. The couple met in 2017 around the same time Holmes was under investigation for the collapse of Theranos, a startup she founded after dropping out of Stanford University when she was just 19.
While she was building up Theranos, Holmes grew closer to Ramesh, “Sunny” Balwani, who would become her romantic partner as well as an investor and fellow executive in the Palo Alto, California, company.
Together, Holmes and Balwani promised Theranos would revolutionize health care with a technology that could quickly scan for diseases and other problems with a few drops of blood taken with a finger prick.
The hype surrounding that purported breakthrough helped Theranos raise nearly $1 billion from enthralled investors, assemble an influential board of directors that include former Presidential cabinet members George Shultz, Henry Kissinger and James Mattis and turned Holmes into a Silicon Valley sensation with a fortune valued at $4.5 billion on paper in 2014.
But it all blew up after serious dangerous flaws in Theranos’ technology were exposed in a series of explosive articles in The Wall Street Journal that Holmes and Balwani tried to thwart.
Holmes and Balwani, who had been secretly living together while running Theranos, broke up after the Journal’s revelations and the company collapsed.
In 2018, the US Justice Department charged both with a litany of white-collar crimes in a case aimed at putting a stop to the Silicon Valley practice of overselling the capabilities of a still-developing technology – a technique that became known as “fake it ‘til you make it.”
Holmes admitted making mistakes at Theranos, but steadfastly denied committing crimes during seven often-fascinating days of testimony on the witness stand during her trial. At one point, she told the jury about being sexually and emotionally abused by Balwani while he controlled her in ways that she said clouded her thinking.
Balwani’s attorney steadfastly denied Holmes allegations, which was one of the key reasons they were tried separately.
Balwani, 57, was convicted on 12 felony counts of fraud and conspiracy in a trial that began two months after Holmes’ ended. He is currently serving a nearly 13-year sentence in a Southern California prison.
Maintaining she was treated unfairly during the trial, Holmes sought to remain free while she appeals her conviction. But that bid was rejected by US District Judge Edward Davila, who presided over her trial, and the Ninth Circuit Court of Appeals, leaving her no other avenue left to follow but the one that will take her to prison nearly 20 years after she founded Theranos.
Read more:
Theranos founder Holmes ordered to prison on May 30
Court denies Theranos founder Elizabeth Holmes’ request to stay out of prison
Judge denies Theranos founder Elizabeth Holmes’ request to remain free during appeal

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Crown Prince of Abu Dhabi meets with CEOs of leading Norwegian companies

H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, has met with a group of CEOs from leading Norwegian companies, as part of their participation in the UAE-Norway Investment Forum, held alongside his official visit to the Kingdom of Norway.

During the meeting, H.H. Sheikh Khaled bin Mohamed bin Zayed underscored the UAE leadership’s commitment to strengthening economic cooperation with its international partners.

He highlighted that investment in innovation and knowledge is a cornerstone for achieving sustainable development, noting that enhancing collaboration with Norwegian companies across key sectors will open new avenues for mutual economic growth between the two countries.

The UAE-Norway Investment Forum, taking place in Oslo, aimed to highlight available investment opportunities and strengthen trade relations between the UAE and Norway, fostering shared interests and supporting innovation and knowledge-based economic visions.

-wam

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At the Indonesia International Book Fair 2024, TRENDS inaugurates 10th global office, releases four books

As part of its Asian research tour, partnership with Aletihad News Center, and
primary sponsorship of the Indonesia International Book Fair 2024, TRENDS
Research & Advisory inaugurated its office in Jakarta, marking its 10th location
worldwide. It also released four books in Indonesian.
The inauguration event was attended by ambassadors of the UAE, Bahrain, and
Jordan to Indonesia, chairpersons of the UAE and Indonesian Publishers’
Associations, the Director of TRENDS’ Jakarta office, and a group of researchers
and academics.
Speaking at the event, Dr. Mohammed Abdullah Al-Ali, CEO of TRENDS
Research & Advisory, stated that TRENDS’ international offices—set to reach 15
by the end of 2024—aim to enhance the Center’s research efforts and deepen its
role in disseminating knowledge, thus serving as a global knowledge bridge.
He emphasized, “At TRENDS, we believe in the importance of cooperation
between think tanks and prioritize this endeavor. We believe the TRENDS office in
Jakarta will enhance the exchange of knowledge and ideas between think tanks in
Asia and the Middle East, opening new horizons for collaboration in various
fields.”

Four books in Indonesian
As part of the Jakarta office’s inaugural activities, four books were released in
Indonesian, including the 11th and 12th books of the Muslim Brotherhood
Encyclopedia and Global Trends in AI and Automation and the Future of
Competition between Man and Machine: An Analytical Forward-looking Vision.

Hostility to Arab states
The 11th book of the Muslim Brotherhood Encyclopedia, The Concept of the State
According to the Muslim Brotherhood, highlights its hostile stance toward Arab
states since its inception. The group views them as an obstacle to its ascent to
power. It opposed the modern principles upon which these states were built,
considering them incompatible with the group’s unique interpretation of Islam,
which it claimed to embody exclusively.

Exclusion of nonconformists
The 12th book, The Muslim Brotherhood: Rejection of Tolerance and Exclusion of
Nonconformists, examines the Muslim Brotherhood’s stance towards
nonconformists, individuals, and entities. The book reveals the group’s binary view
of the world, categorizing others as allies or adversaries. It ties these relationships
to the Brotherhood’s internal power struggles and self-serving interests.

Global Trends in AI
The third book, Global Trends in AI, explores significant developments in AI and
its impact on various aspects of life, including the economy, society, and
governance. It also offers a comprehensive analysis of technological advancements
in AI, its applications across sectors, the ethical and social challenges it presents,
and its future trajectory.

Automation

The fourth book, Automation and the Future of Competition between Man and
Machine: An Analytical Forward-looking Vision, addresses the growing challenges
faced by the human workforce in the face of widespread automation and AI
applications. The book concludes that while automation presents a significant
challenge to the labor market, it simultaneously creates new opportunities. It
emphasizes the importance of preparing for this shift through skills development,
continuous education, and adopting economic and social policies that support the
workforce.

Prominent pavilion and active presence
The TRENDS’ pavilion at the Indonesia International Book Fair has attracted
numerous visitors, including academic researchers and officials, such as the
ambassadors of the UAE, Bahrain, Qatar, Jordan, and Turkey. Additionally,
chairpersons of Arab and Indonesian publishers’ associations, authors, publishers,
and students visited the pavilion. All were impressed with and praised TRENDS’ diverse, valuable publications. They also commended TRENDS’ active
international presence and ability to address global developments with rigorous
analytical research.
Dr. Mohammed Abdullah Al-Ali honored the esteemed guests, including
ambassadors of the UAE and Bahrain to Indonesia, Wedha Startesti Yudha,
Chairperson of the Indonesia International Book Fair Committee, Arys Hilman
Nugraha, Chairman of the Indonesian Publishers Association, and others,
presenting them with TRENDS’ publications and commemorative shields.
Additionally, he awarded TRENDS’ Research Medal to Ni Made Ayu Martini
Indonesian Deputy Minister of Marketing, Tourism and Creative Economy
It is worth noting that during its current Asian research tour, TRENDS announced
the launch of the TRENDS Research Medal, awarded to individuals who make
significant contributions to the development of scientific research and promote collaboration with TRENDS in strengthening a culture of research across various fields.

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US determined to prevent full-scale war in Middle East, Joe Biden tells UNGA79

US President Joe Biden highlighted the US Administration’s determination to prevent a wider war that engulfs the entire Middle East region, noting that a diplomatic solution “remains the only path to lasting security to allow the residents from both countries to return to their homes on the border safely”.

In remarks he made today before the 79th Session of the United Nations General Assembly (UNGA79), the US President said, “Full-scale war is not in anyone’s interest,” adding that a diplomatic solution is still possible.

He also touched on “the rise of violence against innocent Palestinians on the West Bank”, and the need to “set the conditions for a better future”, which he said featured “a two-state solution, where the world — where Israel enjoys security and peace and full recognition and normalised relations with all its neighbours, where Palestinians live in security, dignity, and self-determination in a state of their own”.

President Biden underscored the ceasefire and hostage deal put forth by Qatar and Egypt, which the UN Security Council endorsed. He said, “Now is the time for the parties to finalise its terms, bring the hostages home,” adding that this would help ease the suffering in Gaza, and end the war.

-WAM

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