One of the biggest frauds of last year had nothing to do with a doomed music festival in the Bahamas, but rather a company called Theranos that promised a medical miracle to consumers. And unfortunately for the woman at the center of it all, former Theranos founder Elizabeth Holmes, a rush of books, podcasts, documentaries, and movies are quickly unveiling just what led to the demise of her now shuttered company.
Holmes is famed a college dropout who started her own business at the age of 19 years old ( Holmes is currently 35). Theranos, her company named by combining the words “therapy” and “diagnostics,” was supposed to be able to run hundreds of medical tests with just one drop of blood from a pinprick on each patient’s finger. With no tubes of blood or syringes needed, Holmes envisioned a world where average Americans could control their own health. It was an inspiring pitch that many investors fell for instantly, and Theranos was, before its dismantling, valued at a billion dollars.
There’s only one small problem: Theranos’ machines didn’t work.
Whistleblowers claim that Holmes knew this all along. In newly released testimony delivered to the Securities and Exchanges Commission (SEC), Holmes admits no wrongdoing. Holmes has been indicted on nine counts of wire fraud, along with chief operating officer and Theranos president Ramesh “Sunny” Balwani; she has not plead guilty as she awaits her trial. The SEC accused them of “raising more than $700 million from investors through an elaborate, years-long fraud in which they exaggerated or made false statements about the company’s technology, business, and financial performance.”
Naturally, the allegations against Holmes have made her a fascinating subject for journalists, authors, documentarians, and movie producers alike. Here’s every Elizabeth Holmes project you can read, listen to, watch, and mark your calendars for:
After former employee and whistleblower Tyler Shultz came forward with allegations against the company, including claims that Theranos was hiding the company’s lack of actual progress and success from the public and investors, he talked to John Carreyrou, a Wall Street Journal investigative reporter who was working on the book: Bad Blood: Secrets and Lies in a Silicon Valley Startup.
The book might be the most in-depth way you can learn about the Theranos story. It’s so detailed that the New York Times reviewer joked that it was like like having two books in one.
The first part of the book is all about Holmes: how she started the business, what the company promised, its massive success with investors, and how the results didn’t add up. Details about Holmes include the depth of her Steve Jobs obsession and her ability to “turn on people in a flash.” The second part of the book focuses on the unraveling, starting with Carreyrou being tipped off to the story and later following him as he chased it down. In it, Carreyrou also alleges that Holmes had him and his witness, Schultz, followed for a year.
On January 15, 2019 the …read more
Source:: Daily times