Theranos & Elizabeth Holmes Scandal: 5 Fast Facts You Need to Know


Elizabeth Holmes started her own business, Theranos, at age 19. The company, whose name combined the words “therapy” and “diagnosis”, promised to revolutionzie the medical field by offering technology that could use a single drop of blood to run multiple tests simultaneously.

At its peak, the company was valued at $9 billion. Within a couple years, however, everything would change.

What do we know about Theranos and her company? What’s Holmes story? Get the details here.

1. Holmes Dropped out of Stanford University at Age 20 to Start Theranos

People said she was “the next Steve Jobs.” Once the youngest self-made female billionaire – before it all came crashing down.

She denies all wrongdoing. Now, new interviews, new details and the deposition tapes of Elizabeth Holmes.

20/20 ‘The Dropout’ – @ABC Friday at 9/8c pic.twitter.com/SH9SjttxzV

— 20/20 (@ABC2020) March 9, 2019

Holmes was born in Washington DC. Her father was a vice president at Enron, while her mother was a Congressional commitee staffer.

At age 20, Holmes dropped out of Stanford University to start Theranos, a medical company that claimed they could take a single drop of blood and scan for a number of potential STDs, diseases, and conditions.

While the reality was that this was impossible, the company still flourished, with a value that soared up to $9 billion.

In 2015, Holmes was named one of the Most Influential People in the World by Time. In her prime, she also became the youngest self-made female billionaire by Forbes. After her fall from grace, however, that all changed. Within one year of recieving these accolades, Fortune would name Holmes one of the “World’s Most Disappointing Leaders”.

The deceit of Theranos will be chronciled in a new flim by Adam McKay, called Bad Blood, starring Jennifer Lawrence.

2. The Man She Hired to Develop the Technology Believed It Wasn’t Feasible

In 2005, Holmes hired a scientist named Ian Gibbons to develop the technology Theranos promised.

According to Vanity Fair, not long after being hired, Gibbons deduced that Holmes’ idea wasn’t feasible. However, he tried his best– considering every possibile method– to create what Holmes, and the company, was relying on.

When Gibbons learned of a partnership Theranos developed with Walgreens that promised the technology, he began to panic. His wife tells Vanity Fair that he “knew the technology wasn’t ready, nor would it likely ever be ready.”

“Ian felt like he would lose his job if he told the truth,” his wife shared with the outlet. “Ian was a real obstacle for Elizabeth. He started to be very vocal. They kept him around to keep him quiet.”

In 2013, Gibbons reportedly received a phone call from Holmes. She wanted to meet with him; he believed it had something to do with his being called to testify in a lawsuit. Inside Edition reports that the following morning, Gibbons’ wife found him after he overdosed on …read more

Source:: Heavy.com

      

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