It took years of public doubt to finally make Theranos disappear. I suspect a stubborn and trusting public are doing the same thing here. Sheesh. Down about 80% with 20% to go. Why not take Magic Leap public as well? Anyway, Nikola is getting smacked once again……..
This just hit the wires – – someone managed to sneak a video from inside Theranos of someone playing the “Kill John Carreyrou” game the employees had made, Space Invaders-style. A reminder that Mr. Carreyrou was the multiple Pulitzer Prize-winning journalist who uncovered the huge scam run by Elizabeth “Crazy Eyes” Holmes and Sunny “Headin’ to Court” Balwani.
We have not had an honest-to-God bear market in ninety years. But what about 2008? Or 2001? Or 1987? Yeah, yeah, the market went down, it’s true, but in every single down-market since the 1930s, the federal government has intervened to stop the bleeding. The natural, organic, and marvelously healthy process of a sweeping financial cleaning hasn’t been permitted since the days of FDR, since the nanny state government feels duty-bound to spare its citizens anything that might hurt even a little bit.
The last big cleaning – – which spanned 1929 to 1933 – – spawned laws and cultural changes that benefited the United States for nearly seventy years before they were dismantled. The most egregious “help” the government has offered came, of course, during the last little downturn, during a few weeks in late February and early March of 2020, which was met with trillions and trillions of dollars of stimulus, forgiveness, and all-around federal fellatio.(more…)
Since I think the market is going to be annoying until the Quad OpEx finishes tomorrow, I’ll do a post about something un-chart-related.
Here in the Bay Area, at long last the Sunny Balwani trial is finally starting. Sunny is, of course, the co-conspirator with the whole Theranos mess. Now that his former decades-younger girlfriend Elizabeth Holmes has been convicted of multiple felonies (and, like all wrongdoers, is whiling away her days on a huge estate enjoying time with her family), the court is ready to deal with Mr. Balwani.
What prompted this post is the following………….(more…)