Here are the timestamps and quotes featuring high praise for George Shultz:
[00:02:40]: David Fedor describes his first impression: “I saw Schultz around campus talking about energy issues and I thought you know what this guy has his head screwed on right.”
[00:02:52]: Bill Whalen asks: “Did you actually have to sit down for an interview with the great man?”
[00:03:00]: David Fedor recounts the experience of meeting him: “…those bright blue eyes would stare right into your soul as you sat across from him.”
[00:03:16]: Fedor notes the pressure of being in his presence: “…you had to be on your a-game when you’re in front of Schultz.”
[00:03:33]: Bill Whalen expresses his admiration: “I could talk all day about George Schulz because what a fascinating man.”
[00:03:43]: Whalen continues regarding Shultz’s intellect: “…he had just this brilliant mind, David, that was able just to kind of get to the heart of matters.”
[00:04:16]: Whalen describes his demeanor: “Secretary Schultz would kind of sit back… he would say in his very calm, dignified voice, ‘That was a very interesting presentation.'”
[00:26:05]: David Fedor praises his intellectual flexibility: “…Schultz was always forward-looking and he always updated his priors.”
[00:43:17]: Fedor describes Shultz’s strategic vision: “…moving according to a compass bearing. So knowing what you were trying to achieve and not just get caught up in the day-to-day…”
[00:43:33]: Fedor comments on his effectiveness: “Schultz combined that with a sense of pragmatism… he felt responsible for actually getting things done and not just railing against the injustice of the situation…”
From 2011 to 2015, Shultz was a member of the board of directors of Theranos, a health technology company that became known for its false claims to have devised revolutionary blood tests. He was a prominent figure in the ensuing scandal. After joining the company’s board in November 2011, he recruited other political figures, including former secretary of state Henry Kissinger, former secretary of defense William Perry, and former U.S. senator Sam Nunn. Shultz also promoted Theranos founder Elizabeth Holmes at major forums, including Stanford University’s Institute for Economic Policy Research (SIEPR), and was on record supporting her in major media publications. This helped Holmes in her efforts to raise money from investors.
Shultz’s grandson, Tyler Shultz, joined Theranos in September 2013 after graduating from Stanford University with a degree in biology. Tyler was forced to leave the company in 2014 after raising concerns about its testing practices with Holmes and his grandfather. George Shultz initially did not believe Tyler’s warnings and pressured him to keep quiet. Shultz continued to advocate for Holmes and Theranos. Tyler eventually contacted reporter John Carreyrou (who went on to expose the scandal in The Wall Street Journal), but as summarized by ABC Nightline, “it wasn’t long before Theranos got wind of it and attempted to use George Shultz to silence his grandson.” Tyler went to his grandfather’s house to discuss the allegations, but was surprised to encounter Theranos attorneys there, who pressured him to sign a document. Tyler did not sign any agreements, even though George pressured him to: “My grandfather would say, like, things like ‘Your career would be ruined if [Carreyrou’s] article comes out.'” Tyler and his parents spent nearly $500,000 on legal fees, selling their house to raise the funds, in fighting Theranos’ accusations of violating the NDA and divulging trade secrets.
When media reports exposed controversial practices there in 2015, the company moved their non-technical directors like Shultz to a “Board of Counselors” and replaced them with a technical board. In 2016 Theranos’ “Board of Counselors” was “retired”. Theranos was shut down on September 4, 2018. In a 2019 media statement, Shultz praised his grandson for not having shrunk “from what he saw as his responsibility to the truth and patient safety, even when he felt personally threatened and believed that I had placed allegiance to the company over allegiance to higher values and our family. … Tyler navigated a very complex situation in ways that made me proud.”
