Former Theranos President And COO Ramesh Aka Sunny Balwani To Go Behind Bar For 13 Years For Defrauding Investors.

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Former Theranos President And COO Ramesh Aka Sunny Balwani To Go Behind Bar For 13 Years For Defrauding Investors.

Few days after the judgment came on ex-Theranos founder Elizabeth Homes by United States District Judge Edward Davila for defrauding the investors for a premium and advanced blood testing technology start-up that put her behind bars for more than 11 years in prison. The sentence has been passed by Judge Davila against the ex-Theranos president and former Chief Operation Officer (COO) Ramesh Aka Sunny Balwani to go to prison for nearly 13 years plus restitution.

The sentence was confirmed after 13 week long trial and long lasting arguments by the lawyers of both parties.

Ramesh aka Sunny Balwani was convicted of 13 charges against him for lying about technology that doesn’t exist, defrauding investors, and charges relating to patients.

Elizabeth Homes who was also his romantic partner, accused sunny of all this fraud as he was the main driving force behind all the operations. She also accused him that he was controlling her life too even her personal decisions.

The federal prosecutor accused sunny of being ruthless toward patients, power hungry, and fraudsters who duped investors’ money and urged to get him a maximum scented to 15 years plus restitution. While the defense lawyer argued for lesser sentences. i.e’ less than 10 months.

Balwani is an American businessman hailed from Sindh Pakistan and is two decades senior to Elizabeth Holmes. He was roped in to handle the operation as she was just 19 years old at the time of the inception of Theranos.  Later both of them developed romantic relationships and started handling operations combined.

While Elizabeth Holmes we obsessed to become the Startup founder from a young age. She drops out of Stanford University to start a startup in Silicon Valley. And founded Theranos at the age of 19 years in 2008. Theranos grew exponentially to a total valuation of $9 billion dollar. They got funding from big names like Walton Family and Rupert Murdoch.

Theranos Fraud came to light when the Wall Street Journal published a report about how Theranos’ founders falsely claimed to found a blood testing technology from years that doesn’t exist.  

Some people accuse Elizabeth that she was not real businesswoman but rather she was just obsessed with the life of Apple CEO and Co-founder Steve Jobs and trying to copy him at all the levels such as dropping out of Stanford University, starting a startup that creates never before technology, Wearing a black chicken neck T-shirt and blue Denim pant. But looks like she forgets to copy him where it actually needed.

Holmes and her then Boyfriend Sunny Balwani were accused by her former employees that Elizabeth Holmes was controlling and abusive and was famous for scolding the workers.

Tech Giants Are Laying Off Thousands Of Employees In 2022, But Why?

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Tech Giants Are Laying Off Thousands Of Employees In 2022, But Why?

Every day news is flashing that in 2022 all of sudden several tech giants are laying off their employees. Giants like Facebook now Meta, and Amazon sent home thousands of people who were working for them for several years.

As per New York Times Amazon has laid off approximately 10,000 employees. Mark Zuckerberg a Meta CEO, posted an apology video after he let go of 11,000 employees from Meta as the Metaverse project turned out to be highly cash-burning and a headache for Mark Zuckerberg. Other major players who let thousands of workers are Microsoft, HP, Byjus, Morgan Stanley, and the list goes on.

Twitter has fired almost more than half of the staff after takeover.

Startups are also sending more and more people home.

You could be wondering why on the planet earth are they doing so. There are more than one reasons why this is happening.

First and foremost, the reason is the roaming clouds of recession which lead to a decrease in business and eventually profitability of companies.

Post to the COVID-19 pandemic several companies went on the verge of bankruptcy those who survived had to shut down many units for cost-cutting. Laying off is also part of cost-cutting.

Companies restructuring themselves and shutting down those units that are not profitable and those that have fewer chances of becoming profitable in recent times. Because they don’t afford to burn more cash until and unless business and earnings come back on track.

Furthermore, some companies are not willing to afford to keep low-performing employees as they do not contribute significantly to the productivity of the companies plus companies have to pay them. So it becomes feasible for the management to let them go. This can be helpful in two ways one is it is cost effective and it may not affect the productive potential of the company as they were reportedly low performing.

Google is to let go at least 10,000 ‘low performing employees’ which will start from the start of 2023 as per Livemint.

Also, some companies don’t have plans to expand for some time so they don’t want to keep excess employees. So better to let them go as you can always rehire them back when required.

Job losses may affect the finances of employees as they may have to stay out of the job for a little longer period of time because almost all the companies slowed or halted hiring.

Aerospace Start up SkyRoot Launched India’s First Ever Private Rocket Vikram-S, eyeing On Affordable Satellite Launce.

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Aerospace Start up SkyRoot Launched India’s First Ever Private Rocket Vikram-S, eyeing On Affordable Satellite Launce.

A new era has begun in India, as India’s first ever private rocket Vikram-S lifted off from ISRO’S launch site at Shrihatikota on 19 Nov 2022 at 11.30 AM.

This historic step toward the commercialization of the space industry will open a whole new door to a new industry for private players. Which eventually helps to earn more revenue and will create thousands of jobs.

The rocket is designed by Skyroot Aerospace a start-up that deals in aerospace. Skyroot Aerospace was founded by ex-ISRO engineers Pawan Kumar Chandana and Naga Bharath Daka in 2018 and backed by Singapore based Sovereign Wealth Fund.

Recently Indian government announced to open the Indian aerospace for private players and the first successful launch was achieved within 2 years after that. This is a historic day for the Indian aerospace industry.

On its launch rocket hit an altitude of 89.5 Km within the decided time hence announcing a successful launch. Indian Priminister Narendra Modi tweeted with praise.  

The Rocket was a single-stage solid fuel rocket that took two years to build. Founders claim that most of the parts from rockets were made in India. Some of the parts were 3D printed which helped in cost cutting. The rocket carried three payloads and the total weight was 545 kg as per Business Standard.

The company is eying affordable satellite launch in the coming future. Once the technology is fully developed and acquired they will take orders from other countries to launch their satellite at a minimal cost. This will help the company to generate revenue and the countries to save on the excessive cost of a satellite launch.

They are also developing technology to create reusable rockets on the ground of already established companies in this sector like SpaceX and Blue Origine.

They may have to face many competitors in the near future as several startups are working on the same technology but early in the game will turn beneficial to them.

If all their vision come true this will put India ahead of many countries in space technology.

Elon Musk May Start Tech War With Apple Over Twitter Ban From Apple Store.

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Elon Musk May Start Tech War With Apple Over Twitter Ban From Apple Store.

Elon Musk Reportedly claims in his recent tweet that Apple has threatened to ban the Twitter app from Apple’s app store. He further added that they did not give any reason for that and stopped promoting Twitter.

The SpaceX founder taking jibes on Tim Cook and Apple in his style with single liner tweets. He tweeted quoting Tim Cook, “What Is Going On here”. As Apple is not giving any explanation for stopping the promotion on Twitter.

Musk in his tweet said that ” Apple has mostly stopped advertising on Twitter. Do they hate free speech in America?”. Not only that Apple also threatened to hold Twitter from their play store.

Moderation may be the reason responsible for Apple’s no-cooperation with Twitter as they want to comply with their user policies as per the news published in the Guardian. This means twitters new policies are the reason that is bothering Apple and they indirectly want to reinstate the older version of the policy or make changes to it according to them.

Trouble started after Musk ask to pay for verified account holders and announce to reinstate of the few banned accounts. After hush hush buy of Twitter Elon Musk wants to make several changes in the policy of use and in the user interface of Twitter to make it a profitable company and to let people express themselves freely on it.

Musk claims that he is working toward developing free speech in the united nations. He believes that not accepting Twitter’s free speech policy may lead to tyranny in the future. Apple is yet to give any open statement on this topic.

Like Apple, several people including celebrities think that Twitter’s new take is not a good move. Some of them threaten to live the Twitter.

If advertisers like Apple and other big players stop advertising on Twitter may lead to revenue loss for Twitter and Musk has to think again about his moves if he wanted to make this company profitable.

What if both Apple and Google App Store put a ban on Twitter? Will Elon Musk develop an alternate system to combat them or will he agree to policy moderation? Only time will tell.

This Is Where Qatar Spent More Than 220 Billion Dollars To Host FIFA World Cup 2022.

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This Is Where Qatar Spent More Than 220 Billion Dollars To Host FIFA World Cup 2022.

This is the costliest world cup to date in the history of the FIFA world cup. Qatar has reportedly spent more than $220 billion dollars to host the soccer world cup in 2022.

But you must be wondering where has so much money spent, well gulf nations built numerous structures from scratch. Like they created everything new just to host the world cup.

Qatar builds seven brand new football stadiums with air condition cooling systems, new airports, a new Metro line with stations, Hotels, apartments, Roads, and Highways all the other amenities that are required to make this event successful.

FIFA president Gianni Infantino believes that this will be the best world cup to date because of so much arrangement done by the desert nation.

Though Qatar is one of the richest nations in the world and the $220 billion amount is not a big deal for them. But hosting FIFA World Cup 2022 will put them ahead of their competition.

There can be another motto behind hosting the Football World Cup and spending so much money is to increase tourism in the country. This world cup will bring millions of tourists and football enthusiasts which eventually bring business to the country.

People are surely spending thousands of dollars to attend a sports event. This will generate revenue for Qatar and also help in increasing tourism. Sadly, Qatar’s team has to leave the series due to multiple defeats.

There is no doubt that Qatar has made extraordinary efforts to host a game that looks impossible to any developing country. And it is so well managed. It is uneventful till today and probably this will continue until the end of this tournament. 

If this goes well Qatar can host other big sports events like the cricket world cup and the World Olympic Games in the future. That will help them bring more tourists and revenue.

It will be interesting to see how this hosting of the FIFA world cup 2022 will benefit Qatar or will it be a loss-making deal.

Twitter’s Verification Tick Mark To Relaunch Soon, But This Time It Will Be Gold, Grey and Blue Coloured.

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Twitter’s Verification Tick Mark To Relaunch Soon, But This Time It Will Be Gold, Grey and Blue Coloured.

Twitter’s “Verified” Sign is a blue tick mark to relaunch soon by Twitter but this time there will be three different colors for different accounts.

As per the Washington Post, there will be three color types in the check mark i.e. Gold, grey, and blue for different types of verified accounts to indicate the different varieties of accounts differently.

Musk tweeted recently that the Gold check mark is for companies, Grey for governments, and Blue for individuals. Will help to differentiate between the verified accounts whether it is Personal or professional or institutional. As it is paid service now and anyone can buy the verification tick mark they will also put an “OFFICIAL” tag below the tick mark for special accounts.

Twitter’s verification tick mark has become the talk of the town after the recent chaos that occurred due to the rise of fake verified accounts which costs billions of dollars to several companies like Lockheed Martin. After this controversy, Tesla founder has to drop his idea of paid verification for some time.

It will be interesting to see how these tri-colored tick marks will solve the problems of fake imposters.

Elon Musk is eager to turn Twitter profitable as soon as possible after the acquisition of the microblogging platform. To achieve this asking to pay for verification is one of the schemes. But it looks like Musk will have to think about more options to make money as this subscription will only cover part of the revenue loss.

Musk further added that this time verification check mark will be added manually after checking the authenticity of the account. So that imposter won’t get a chance for any wrongdoing.

Since its inception, Twitter was the most famous Microblogging Platform among influential people, corporate companies, and government institutes. Politicians, celebrities, businessmen, company officials, and corporate employees used to use this platform to post official statements.

And users consider it authentic but since the rise of imposters, it become a big problem for users as they are confused about whom to trust.

Estranged Theranos Founder Elizabeth Holmes to Be sentenced for 11 Years In Imprisonment.

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Estranged Theranos Founder Elizabeth Holmes to Be sentenced for 11 Years In Imprisonment.

Elizabeth Holmes sentenced for 11 Years in imprisonment for fraud and for duping investors’ money. Elizabeth Homes become a famous name in Silicon Valley overnight after a big fraud got uncovered by the reporter of Wall Street Journal after a decade long track down in 2015 in Elizabeth’s company called “THERANOS”.

A Stanford University dropout decided to start an ultra-modern blood testing startup at the age of 19 in 2008. Where you can do all your blood tests in a few drops of blood. The idea was amazing to hear and interesting for investors but something was fishy which turned out to be a disaster for investors.

Investors got impressed with her idea of getting multiple blood tests done in less than ml of blood and invested vigorously in her start up. In no time her start up Theranos grow into billion dollar company, that is total valuation reaching $9 billion and Holmes become one of the youngest billionaires in the world and a tech sensation in Silicon Valley.

Theranos got funding from people like Murdoch, Oracle founder Larry Ellison, the Walton family, and many more big names included. Funding from these people makes this start up look more authentic.  

As per the news published in CNN Judge Edward Davila sentenced her to 11 years in prison followed by 3 years in supervision plus a fine after hearing the argument of both sides and taking all the letters of leniency on notice.

While Holmes in her statement in court apologizes to all the employees and investors as she wasn’t able to deliver what was promised. She also took responsibility for Theranos’ disaster. Elizabeth accused her then boyfriend Sunny of everything wrong that happened in Theranos. She further added she was younger then and Sunny was the one who was handling all the operations and finances.

Her ex-boyfriend and former Theranos president Ramesh “Sunny” Balwani will soon undergo court trials for several charges of fraud as reported in the New York Post.

Some people accused Elizabeth Holmes of blindly copying Steve Jobs to show that she is inventing something larger than life technology. But it was just to become famous and she was not an inventor and she never had any technology.

Ace Soccer Player Cristiano Ronaldo To Leave Club Manchester United from Immediate Effect.

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Ace Soccer Player Cristiano Ronaldo To Leave Club Manchester United from Immediate Effect.

Ace football player Cristiano Ronaldo is to leave his current club Manchester United with immediate effect with mutual agreement amid FIFA world cup hosted by Qatar. Various rumors are circulating around as fans are in shock to hear this news but the reason for this sudden exit is still unknown.

Club’s communication department posted the official statement on its website that Ronaldo will no more be working with them and they thank him for his association with the club for two spells.

Ronaldo played for Manchester United Club for a very long time in the early days of his career. From here he actually got the glory and rose to where he is today that is why this club will always be special for him. Where Ronaldo scored 145 goals in 346 appearances, furthermore they also wish him for better future.

A Portugal team captain Ronald is one of the highest goal scorers to date i.e. 818. He has played for different clubs such as Juventus, Real Madrid, Sporting CP, and various other clubs in his youth.

He has multiple titles and trophies in his name such as he won five Ballon d’Or awards, Four European Golden Shoes. In total, he won 32 trophies in his lifetime including seven league titles as per his Wikipedia profile.

He was awarded the title of all time greatest player ever by the Portugal Football Federation. Cristiano Ronaldo has the record for the highest number of professional appearances in the world i.e. more than 1100. He represented his country as a skipper for several years.

Ronaldo is also very active on social media such as Instagram. Recently he has crossed the number of whopping 500 million followers on Instagram. Where he keeps posting about his family life and brand endorsements.

It is said that he may approach other clubs to associate with them. Fans are curious to know which club he will join in the future.

Musk Halts twitter’s Pay For Blue Tick plan As It Is Backfired.

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Musk Halts twitter’s Pay For Blue Tick plan As It Is Backfired.

After the whopping $44 billion acquisition of Twitter by Tesla CEO Elon Musk, he started making a series of changes in twitter’s administration as well as features in view to make the company profitable and application ready to use for everyone.

Asking to pay $8/ month was one such change in the feature for verified accounts. SpaceX founder asks verified users to pay for a blue tick or they may lose their verification if not paid for it.

Before musk’s entry, twitter’s blue tick was available only to famous people and VIPs such as politicians, actors, businessmen, high-profile people, and companies’ official accounts. This is to indicate that the account is verified i.e. authentic and official but after musk announced the pay for blue tick scheme anyone can have a blue mark after an $8/ month payment.

A blue tick symbolizes that your account is authentic and that what is twitted from that account is valid and true. But it looks like this scheme backfired on Elon Musk himself and created trouble for several other companies.

Some imposter bought the blue tick from an account name matching to the drug maker company Eli Lilly and Company‘s official account. And made a fake post saying “We are excited to announce Insulin is free now” Which costs Eli Lilly billion of dollars. Later the company posted an apology from the official account for misleading messages by imposters. But this incident tank the companies’ share by several dollars and the company ends up losing billions of dollars.

Even musk’s own companies are not spared from imposters. People are taking a dig at Twitter for boomeranging twitter’s Pay For Blue Tick plan.

Musk has to abort this scheme for some time until he manages to find a solution to deal with impostors having a blue tick. 

Some celebrities announce they may stop using Twitter. It will be interesting to see what will Paypal founder do to tackle this problem. 

Sky Cruise Plane: A Giant Nuclear Powered Flying Hotel Designed By Hashem Al Ghaili That Never Lands Winning Hearts.

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Sky Cruise Plane: A Giant Nuclear Powered Flying Hotel Designed By Hashem Al Ghaili That Never Lands Winning Hearts.

Image credit – Hashem-Al-Ghali.

An Arab scientist from Yemen designed a giant flying luxury hotel aka sky cruise plane that need not land on earth. It can fly for an indefinite period of time without landing on the earth to refuel and exchange passengers. It will use nuclear energy to power 20 engines of the plane.

Actually, it was originally designed by Swedish designer Tony Holmsten and reimagined and animated by Hashem-Al-Alghaili.

Recently a video by Hashem-Al-Ghaili went viral on Youtube and Instagram that explains all the features, facilities, and services that this flying hotel will provide to Its guests.

It is a concept hybrid hotel that has the features of both a hotel and an airplane and the capacity to fly for months and years contineously.

As per its designer, this luxury hotel cum airplane can host up to 5000 guests. It will have facilities like Shopping malls, sports centers, Restaurants, swimming pools, bars, children’s playgrounds, theatres, cinema halls, and sections to host events like business meetings and marriages.

Video credit – Hashem-Al-Ghaili.

It will have a 360 degree panoramic hall from which you can enjoy the breathtaking beauty of the outside skies.

Sky cruise plane will also have advanced medical facilities including state of the art medical equipment to tackle any medical emergencies that will happen while aboard and offcource medical team will also be there.

It will be run on autopilot mode with no carbon footprint as it uses clean nuclear energy. If anything went wrong while flying, Repairs will be done on the way, and need not land.

This mega cruise plane will receive the supply by electrically powered private plains so that this mega plane does not need to land. Onloading an offloading will also be done by there Electric Private Planes.

This sounds awesome deal to fly. Space tourism is grabbing people’s attention lately. Several companies are trying to get into it for example SpaceX, Blue Origin, and Virgin Galactic. Only future will know how far we get into this.

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