I recently got my hands on the book Bad Blood by John Carreyrou, it was long due in my reading list. Bad Blood details the dramatic rise and fall of the Silicon Valley start-up Theranos and its founder Elizabeth Holmes.
If you aren’t aware of Elizabeth or Theranos, here is a short summary. Elizabeth founded Theranos, just at the age of 19, after dropping out of Stanford and both she and Theranos quickly became the darling of Silicon Valley. She promised that she can give you complete picture of your health, just by using a few drops of blood. And partnered with Walgreens and Safeway to put her blood testing technology across the United States.
International Fraud Awareness Week 2018
Like every year, ACFE is celebrating the International Fraud Awareness Week to promote anti-fraud awareness and education. This year November 11-17 is being celebrated as International Fraud Awareness Week.
So, what is Fraud?
Recently an old friend tried to sell me a unique business opportunity, like once in a lifetime opportunity by making me a member of Amway. For those of who don’t know Amway, it’s a multilevel marketing (MLM) company, dealing in dietary supplements.
What is Multilevel Marketing?
Multi-level marketing is a strategy that some direct sales companies use to encourage their existing distributors to recruit new distributors by paying the existing distributors a percentage of their recruits’ sales; the recruits are known as a distributor’s “downline.” All distributors also make money through direct sales of products to customers. (Investopedia)