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Who is Elizabeth Holmes?



If you like true crime stories, who can not ?! – Make your schedule clear, with two documentary films about the rise and fall of Elizabeth Holmes and her Silicon Valley startup company Theranos coming soon.

Before you watch the documentaries, get the backstory of Holmes and its multi-billion dollar companies. Learn exactly how she and her company filed charges.

Who is Elizabeth Holmes?

Holmes was once described as "the next Steve Jobs". Now she is 20 years in prison for wiretapping.

But we are ahead of ourselves. Let's go back to the year 2003, when this story began.

  Elizabeth Holmes
Elizabeth Holmes | David Orrell / CNBC / NBCU Photo Bank on Getty Images

Holmes left Stanford University in 2003 to start the startup Theranos. The company claimed that it could offer more efficient and comprehensive blood tests for all types of diseases – cholesterol, cancer and diabetes, etc. – without the need for a doctor's visit.

With one finger prick these extensive tests could be carried out, no phials with blood or a doctor's visit were required.

Holmes received $ 400 million in investment for Theranos. 11 years later, Theranos was valued at $ 9 billion. This made Holmes the richest woman in America and the youngest self-made billionaire.

By 2016, Holmes' punch and billions were gone.

Technology failed to meet the requirements

In 2014, employees began to leave Theranos. Finding out that Edison's technology was the key to comprehensive finger-pecking testing was not as comprehensive as they thought. The company had to use traditional laboratory equipment until it found out how its Edison technology works as it claimed.

As a result, the Federal Drug Administration overturned Theranos' right to conduct blood tests for two years after using an "unexplained medical device." This was followed by a fraud investigation by the Securities and Exchange Commission. The net value of Holmes was $ 0, as the value of Theranos declined.

Indictment

In June 2018, Holmes and Theranos's former president and COO, Ramesh "Sunny" Balwani, were charged with nine fraud cases and two conspiracy suits by the US District Attorney, the Northern District of California.

  Ramesh Balwani and Lawyer
Ramesh Balwani | Justin Sullivan / Getty Images

Both could face up to 20 years in prison and substantial fines if convicted, according to ABC News for three years of investigations into Holmes and Theranos. The documentary titled Dropout is shown in a two-hour episode of 20/20 .

In the documentary, viewers see Holmes testifying in never-before-released deposit tapes in which she says she says more than 600 times "I do not know". There are also six podcast episodes accompanying the documentary.

HBO Documentary

HBO also has a documentary about Holmes & # 39; and her company named The Inventor: Off for Blood in Silicon Valley . The documentary will premiere on Monday, March 18, 2019 at 9:00 pm. on HBO Go and HBO Now. Alex Gibney, an Academy Award winner, directs the documentary.

Other coverage

In addition to documentary films 20/20 and HBO, there is a book about Holmes' fall from the billionaire to a potential inmate named Bad Blood: Secrets and Lies in a Silicon Valley Startup by John Carreyrou.


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