Elizabeth Anne Holmes was born on 3rd February 1984, is a former American businesswoman who was the founder and the chief executive of Theranos, which was a health technology company. Elizabeth Holmes was born to Christian Holmes IV, who was a vice president for an energy company that when bankrupt who later dipped his toes in politics, while her mother Noel Anne was a congressional staffer.
The company claimed that, via small amounts of blood, various blood tests could be carried out and people could be tested for various diseases. Elizabeth Holmes was only 19 when she founded the company in 2003 after dropping out of Stanford University. Theranos raised more than US$700 million from investors, which lead to a 10$ billion valuation in 2013-2014.
The company claimed to develop technology that could conduct microscopic blood volumes. the blood was collected via a finger prick and transferred to the nanotainer which was a blood collection vessel. And the analysis machine was called ‘Edison’. It was named after Thomas Edison.
A turning point in 2015 came when medical research led to an investigative journalist led to make sure the validity of Theranos’ technology. In 2016, the centres for medicare and medical services also gave a warning to the company and proposed a two-year ban. The company faced a lawsuit by the State of Arizona and FBI investigation and two class-action fraud lawsuits.
Entrepreneur Ramesh Balwani was the chief operating officer of the company in 2009, however, he was advising Holmes since the start. In 2016, Ramesh quit the company though the reason was not known.
Elizabeth Holmes was to stand trial in March 2021, however, as a result of an unexpected pregnancy was postponed to August of 2021.
The trial that was supposed to take place in March, was earlier supposed to take place in October of 2020 but was delayed due to coronavirus.Elizabeth Holmes faced wire fraud charges for the technology that she claimed would be able to perform several tests with a drop of blood.Elizabeth however, pleaded not guilty.If convicted, she could face about 20 years in prison.
A book, called, Bad Blood: Secrets and Lies in silicon valley startup is a book written by the journalist John Carreyrou, which was released on May 21, 2018, which was published by Knopf. In 2021, Carreyrou would release a podcast called, ‘Bad blood: the final chapter’ that will cover the trial of Elizabeth Holmes.
An upcoming movie about the company based on the John Carreyrous book would see Jennifer Lawrence play Elizabeth Holmes.
Even though Elizabeth Holmes has about 200+ patents, she orchestrated the most heinous fraud of the 21st century.
The link to the book, Bad Blood: Secrets and Lies in silicon valley startup by John Carreyrou : https://www.amazon.in/Bad-Blood-Secrets-Silicon-Startup/dp/1509868089/ref=sr_1_1?crid=3IQBQZU59MDKJ&dchild=1&keywords=bad+blood&qid=1626527618&sprefix=bad+blood%2Caps%2C271&sr=8-1