This week's Elizabeth Holmes verdicts instantly became a Rorschach test for Silicon Valley's self-image.
Monday's Elizabeth Holmes verdicts became, instantly and inevitably, a Rorschach test for Silicon Valley's self-image.on four counts of conspiracy and fraud as evidence that the entire industry sits on a foundation of deception and hype. Others cited the outcome as healthy proof that even a business built on daring the impossible has a ceiling on hubris.
"The verdict signaled the end of an era. In Silicon Valley, where the line between talk and achievement is often vague, there is finally a limit to faking it," tech journalist David StreitfeldTech's giant companies now make up a big chunk of the U.S. economy and operate in every facet of our lives. If the industry were really built on lies, we'd all be in trouble.
Also, Theranos' biotech category set it apart from the classic Silicon Valley startup model — and subjected it to tighter regulations.
At Theranos, that stance helped hide the company's lack of progress toward actually delivering its medical breakthrough.The tech industry, particularly its software wing, has also embraced a nimble style of product development that advises companies to "ship early and often" and share data widely to find and fix flaws fast.
A more transparent Theranos would never have won the kind of adulatory coverage and FOMO-driven investments that Holmes did. But it would have been a lot less likely to end up as a trial-certified fraud.serving a long prison sentence or not, don't expect too much introspection from tech's leaders in the wake of her convictions.In a marketplace that favors confidence and speed, soul-searching and self-questioning have never been popular — and indeed are widely seen as liabilities.
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