Lefsetz Letter » Blog Archive » Elizabeth Holmes Verdict

Am I the only one thrilled that she lived eleven years and a quarter (135 months)?

I feel like a failure. In the world I grew up in, you were told to go ahead, work hard, and you’d end up with a little bit of gear and be very satisfied. As for the rich, they are the ones who do something amazing, like being an entertainer. Wealth is relative. It’s one thing to be a millionaire and quite another to be a billionaire! How is the average person supposed to make $1 billion? Rob a bank?

Well, that’s one way you can work on Wall Street and employ financial shenanigans that ordinary people can’t understand, and those bribed elected officials have been trying to remove the guardrails from it. Yes, we are told to let the market be free and it will regulate itself. Um? It colludes with itself!

Kind of like a CEO salary. I mean, if you started this company, if you own this company, you are entitled to untold wealth. But Michael Eisner didn’t even start working at Disney, and by the time he retired he was the company’s largest shareholder. How did this happen?

In a way that the average person who goes to Disneyland can’t understand.

So now we see Elon Musk setting himself on fire, lighting a $44 billion match. I like this. As for the disappearance of Twitter…it’s not going to happen, and even if it did, if people really need to communicate in short words, another platform will emerge. Then again, never underestimate the power of the individual. Donald Trump has single-handedly weakened democracy. Everyone believed in the sanctity of elections, and now nearly half don’t. Yes, Musk did a great job at Tesla and then…

For a top notch car, he can never improve the interior, appointment, Tesla is a premium car and premium customers expect more. Musk keeps telling us his autopilot technology works, and it turns out he put kibosh on lidar, just the camera. All evidence points to Tesla’s system not working and not roadworthy. As such, Musk is leaving the door open for the normally suspect automakers to catch up and replace him.

Yes, SpaceX seems to be a phenomenon.

But why do we all believe that if you are successful in one vertical, you are an expert in another?

You want to work for yourself, you want to stay up late and work 120 hours…well, but don’t expect others to do that. They don’t care that much, not enough good. One thing about the market crash last year…all these techies, a bunch of people who are now laid off, have stock options that are underwater, ie worthless! Yes, this is the dream. You get paid in stock and you get rich. Well, they’ll adjust strike points for CEOs, but not for rank-and-file employees.

Again, there are two different worlds.

There is a club and you are not in it.

Not only do you need money, but you also need to know people.

Cory Booker and Stanfordites submitting letters of recommendation to court? Gosh, these are the same people who will write in support of Jeffrey Epstein! You defend your friends no matter what they do. Most people just don’t have friends like that. They have nothing to trade, so they are left out. Get caught and you’ll go to jail!

Again, there’s a good chance there’s a shot. If you watch crime shows on streaming TV, you know that there are cameras almost everywhere these days, and your crimes are being recorded. But if the CEO tells his CFO to do something, or if the CFO acts on previous instructions, then there is deniability. Yes, it’s so hard to convict people. Even if you have a lot of evidence.

These criminals hired David Boyce, who did the dirty work for Harvey Weinstein, to scare people who tell the truth. This is a key element in John Carreyrou’s Theranos book. Boies and team, yes, there was digital intimidation, they came to the WSJ offices and tried to get the story told the way they did it, if anything, it was just plain wrong. I’m going to tell you something, most people can’t handle stress. That old adage “you’ll never work in this town again.”? This is much more real than unreal. Of course, we hear about people who are against the system, but most are repressed and sidelined, or now have allegiance to the bad guys.

Yes, I spent four years in college. I have a diploma. When did dropping out become a badge of honor? When did the arts and humanities get such a bad reputation? When I was in college, it was never about looking for a job, ever, it was about studying! But now the university is seen as a glorified trade school. As for the fee…the news finally came out, it can be negotiated! Hardly anyone pays the sticker price. Yes, the University operates like a business, whereas it used to be seen as separate, with ivy-covered walls.

Everything is a business and everyone wants to get rich. See how much a firefighter makes. It is overtime that increases their wages. I’m not saying we don’t need firefighters, but I will say teachers don’t work overtime. In fact, private schools that are constantly promoted as part of school choice often pay their teachers less!

I could go on and on, but I won’t. I’m just saying that in America today everyone is for himself. You feel like no one is on your side and everyone is a victim. If you play by the rules, you’re an idiot. Breaking old rules is one thing when you’re disrupting an industry into the future, but that’s not what I’m talking about here. I’m talking about people who take shortcuts and think the rules don’t apply to them.

That Wall Street Journal article on Elizabeth Holmes was published in 2015, more than seven years ago. What has happened since then? Holmes has been living Riley’s life. Yes, click this link, it’s free: https://on.wsj.com/3gnm6xx Scroll down to see the photos Holmes’ other half sent to the court to show that she is a good person and deserves clemency. You see Sherlock Holmes in Park City… It doesn’t look like anyone in these photos is working, they’re wandering around the country and can’t help themselves, as if Holmes is the perfect specimen of society, bedrock. I mean only a rich jerk like Billy Evans would be so deaf as to not realize that these pictures make Holmes look like he doesn’t have any remorse.

Holmes never showed an iota of remorse before sentencing. She doesn’t care about the people she blackmails, she just wants a lighter sentence and she and her lawyers will stop at nothing to make it happen.

But this time it didn’t work.

Oh, and she’s appealing, and the wheels of justice are turning so slowly that her kids are probably out of college before she goes to jail, laughing the whole time. Holmes was laughing at the system. If only she’d finally admitted her bad behavior and paid for it, like Jimmy McGill (aka Saul Goodman) did. Holmes could have pleaded guilty, she could have stopped all these high priced appeals, she could have demanded immediate jail time!

I don’t care if she only serves one year. As long as she thought she was going to serve eleven. Holmes must pay the price.

As for it being sexist… Come on, look at the top of the same WSJ article posted above, can you say Enron? Man has been in prison for fraud for over a decade!

This is fraud. What kind of person would be like this, FOR YEARS! You won’t, and neither will I, but Holmes trusts her above all else, and as she puts it, “I’m too pretty to go to jail.”

Nobody is too beautiful to go to jail.

Not only Holmes, Trump will also be convicted. Spend some time in prison, even if it’s just a day. Because you can’t poke our eyes with your illegal bs and get away with it. If Holmes wasn’t in jail, if Trump wasn’t convicted, why would anyone do the right thing?

I’m here to tell you that they are not. Let’s start with the phishing scheme, it’s not all Russian. Behavior is legal unless people pay consequences. That’s why we’re still feeling the hangover from Wall Street’s skating after the economy was devastated in 2008.

Whenever we catch someone and shine the light on them, they always fight back, telling us we don’t know, when in fact we do, because we were raised rightly, we know the difference between right and wrong.

But if you can’t put food on the table, or if you’ve been exposed to the rich and hypocritical lifestyles, you’re also frustrated and want a piece of the pie.

I want to see Elizabeth Holmes erase that shit-eating grin on her face. I want to see her scared to the bone. I want to see her beg for mercy. I want her to see that she has done a bad thing, which she must have done. Come on, inaccurate medical test results, knowingly? I can hardly think of anything worse, it’s literally life and death.

We live, we die, and nothing seems to change. Money talks, the rest of us walk. Just because you’re rich doesn’t make you a good person, usually the opposite is true. But in our world, money is everything. Our goal is not to be an artist, but rather a musically literate individual who can turn himself into a brand.

Let’s even talk about the Kardashians… I don’t care how much money they have, I’d kill myself if I washed up on a desert island with them. Because what is there to say? That’s why you go to college, take other opinions in your dorm, and learn not just the facts but how to analyze them. There is very little black and white in this world, almost everything is worth discussing, but if you are uneducated and ignorant, it is impossible to do it. Worse, those in charge want their constituents to be ignorant, and they are easier to mold.

No, Elizabeth Holmes, you are no better than the rest of us, you are worse! In the meantime, you could have volunteered your return, but no! As John Belushi famously said, it’s under you.

I hope to see you cleaning the toilets soon.

Even better, I want to stop reading about you in the media.

But I don’t want you to be forgotten, I want you to be a lesson to the citizens of today and tomorrow that society has rules and break them at your own peril. Also, life is not just about the way you live, what really matters is what’s on the inside. And Elizabeth Holmes, you’re rotten to the bone. Call me Crabby Appleton, I don’t mind being the voice of reason in this age of groupthink, where no one whistles at everyone else. That’s right, Holmes, the judge has blown your whistle, leave the courtroom, go straight to the locker room, the prison, your chambers, and don’t come out until you think hard about what you’ve done and how you’re giving back to society. In theory, you can heal yourself, even Chuck Colson did it. Better start now!

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