Fun fact: Elizabeth Holmes's father is Christian Rasmus Holmes IV, former vice president of Enron. Enron was once a billion-dollar company but is now bankrupt due to a fraud scandal. Isn't it nice how Elizabeth kept the family tradition going?
For God's sake, she was 19 years old and droped out of university. Where from and when did her investors think she got all the knowledge she needed for her lab/device??? People are insane.
My favorite person in this whole story is Dr Phyllis Gardner, the Stanford professor who never believed this (Theranos) could be possible and thought that Holmes may have committed fraud.
I remember hearing about Theranos when it was still considered a legitimate company. The device was described as a medical tricorder from Star Trek, and I was thinking, "how is that even possible?" Turns out it wasn't.
Walgreens fires their consultant hired to investigate Theranos in order to protect their best interest. Walgreens installs Theranos' Edison Machines into their stores. FDA regulators shut down the operation, due to immediate jeopardy to patient health and safety. Walgreens: surprised Pikachu face. Lawyers swoop in for a massive class action lawsuit against Walgreens, Theranos, et. al. Walgreens: surprised Pikachu face x2.
Had a sales rep come into the Children’s Hospital I worked at and did a whole presentation. After the rep left I spoke with an Endocrinologist Doc and asked her what she thought about it because it was fascinating. The doctor looked at me and said “ain’t no way”. She did not comprehend how it would be possible and instructed us not to use their services.
This quote comes to mind: “All that is needed for evil to prevail is for good people to do nothing. “ I wonder how many people knew or should have known, but remained silent…
It can take a lot of sacrifice , a lot worth loosing to do the right thing. I’m sure there were a lot of unsuspecting employees who didn’t want to loose their jobs and income while supporting families. But of course- if your intuition tells you something is wrong, the best thing to do is to get out of that job.
It is a testament of our failed government and society which have been manipulated by the evil international banksters for the past 300 years. The USA is no different from Zimbabwe.
I am a retired Medical Laboratory Technologist and graduated with an Associate in Science degree at Elizabeth Seton College in Yonkers, NY in 1977. I have over 40 years in clinical laboratories beginning at Columbia Presbyterian MC in NYC and my initial specialty was in clinical chemistry and pediatric special chemistry. Pediatric chemistries were rarely drawn with adult vacutainer tubes of blood due to the risk of causing anemia. Micro samples were therefore typically collected for analysis and the quantities were similar to the amounts Elizabeth Holmes used in testing adults. When I first read about her analyzer I knew immediately that her claims were pure fiction from my many years of experience in laboratory techniques. Her samples were not even collected and stored appropriately and her analyzer was never peer reviewed nor was it tested by licensed pathologist.
@@set65 It depends on how many tests are ordered as well as the lab's requirements. Hematological tests require whole blood usually the collection tube's cap is color coded indicating the tubes anticoagulant (most often containing Heparin). The red top tube typically contains no anticoagulant at all because most chemistry tests use serum obtained by centrifuging the clotted blood. However, some of the tests can require either serum or plasma (for example, electrolytes). But these are not the only examples. I was trained to use an an automated analyzer that ran 21 tests on a single patient sample and on many 8 hour shifts we ran more than 600 samples: That's 12,600 tests results per evening shift not counting calibration and every 10 samples was a "control sample" to insure accuracy and precision. My college text book was, John D Bauer's "Clinical Laboratory Methods". A final reason and a very important one is that clinical labs are required to store left over samples in the event a physician request it be retested to insure a patient receives appropriate treatment based on the confirmed result(s).
Elizabeth Holmes was smart at deceiving people. Nanotainer which was a good play on words with 10-9th power for nontechnology that is in the billionth decimal place. The machine named Edison is another play on words for Thomas Edison. Great idea tie together Electric powered generator with nanotechnology and be able to read far smaller samples of blood. I think what through me off was studying graphene and how they use cd-rom laser to separate the atoms. She got use to believe in fools gold that is for sure.
That whistleblower is a hero. This entire scenario is hilarious. So many delusional and greedy investors got swindled by an obvious con-artist, but were blinded by hype.
“This is what happens when you work to change things, First they think you're crazy, then they fight you, and then all of a sudden the jury comes back with guilty verdicts on four counts of wire fraud.”
@@jbohnoff no she didn't she quit and turned Theranos in to the center for Medicare and Medicaid services. But countless other scientists worked there and knew it was bs and kept working there just for the money knowing full well what they were doing...one guy even killed himself to prevent testifying against Elizabeth! Ian Gibbons was asked to testify at a deposition about why Elizabeth's name was on numerous patents with his when she contributed zero scientific work on them, and instead of tell the truth he KILLED HIMSELF. Imagine the hold this sociopath had on her employees!
My favourite part is when she wears a white lab coat and checks on everyone’s work like she has a degree in science or something hahahahaha. God bless America you really can be whatever you want when you grow up lol
I have so much respect for these two ex employees. Standing up and speaking up...so rare! I hope those ppl responsible at Walgreens who agreed on this deal are no longer there!
@@carlosrodriguez4503 “smart to buy”… if I sell you magical beans, are you smart for buying them? A bit of research would have raised red flags, instead they just threw money at her, NOT SMART.
@@SunnyDiegoProduction no amount of research at that time would have indicated that the company was a fraud, They had a NDA and the only time it was exposed was when people who work at the company broke the NDA
@@carlosrodriguez4503 Walgreens hired an expert to examine Theranos. He was suspicious and warned them against Theranos. Walgreens ignored his recommendations and they agreed with Elizabeth's demands that he be excluded from their negotiations. Pfizer had the wherewithal to refuse to do business with her. Walgreens deserve the blame for their actions.
That lady is a mad leader who she thinks is a boss to all of her employees and taking advantage of taking money from the government. Okay, I am gonna be straight with you, she is one sick delusional freaks of nothing but childs play.
I heard Walgreens sent their own guy to checkup on Theranos. He immediately reported trouble there to Walgreens but Walgreens didn't want to believe him. They were totally sold on what Holmes was pitching. They thought their own investigator must be wrong.
Walgreens was afraid CVS was going to outbid them so the ignored his warning and took the bait. I know CVS looks back on it and thank the stars they didn't
i read different. The Walgreens consultant was asking questions that Theranos deemed to be "offensive" and "disrupting" the meeting, and subsequently boo hooed to Walgreens upper management (he was simply asking due diligence questions to protect his employer, Walgreens...mind you). Walgreens then fired their consultant. its also been speculated that Walgreens was very worried about CVS getting in on the action, and they wanted to lock it down b4 they did.
She was obsessed with Steve Jobs and had no doubt heard of him asking for what seemed to be impossible and the engineers somehow figuring it out. She thought she could do the same but picked something that really was impossible.
@@squiggleworks9 Well, she had no idea how to make it happen. But she had no problem telling her investors and clients that she did. Ambitious is fine. Outright lying is a huge problem.
As a retired medical technologist with many years of lab experience I am appalled that ANYONE could get suckered in and believe a drop of blood could accomplish all off these claims . It takes a lot of education, use of controls and specifications to be accurate . This is not a game ! It’s a dangerous harmful risk to patients lives. Unbelievable reckless behavior .
Ive just finished watching The drop out, and agree with you. What I find mind blowingly scary, is how she got away time and time again, with people who should know better. It was terrifying to watch. I truly hope the rest of her life will be a miserable one.
I hope she goes to jail for a long time. She knew exactly what she was doing. She even lowered her voice to sound less feminine. Her lying was very conniving and very precise. I don't care how many kids she has now, she needs to go to jail for YEARS!
As the gravity of likely punishment sinks in, may Holmes feel the horror & despair the man who thought he'd contracted HIV felt; the woman who thought she'd miscarried felt; the common investors who lost their life savings felt; the whistleblower who fled the country felt; the family & friends of Sunny felt; and, Gibbons' widow felt.
She's been found guilty of 4/11 charges. For fraud of this magnitude, hundred's of millions-billions of dollars, she'll definitely get 20 years plus, doing at least 5 years.
Elizabeth the psycho is the greatest saleswoman ever. The amount of greedy corporate idiots who fell for this is ridiculous. I wonder how many people had health problems because of this.
@@franciscojosemari4707 swindlers are good sales people, that's why they get away with things. That has nothing to do with those who do their work honestly, this can be true for both.
Investors were greedy, so it was easy for her. It was almost a ponzi scheme, but no investors got paid out. If it was not for the fact that peoples health was put at risk, you could laugh about it. Investing 100 million dollars into a black box that did not work and you did not look at it to make sure it worked!
While in the military, one of my fellow electrical engineers left the command to work on this project. When he came back he said “I can’t say a lot, but they will never figure it out. It doesn’t work. There is too much secrecy, too many limitations and the entire thing is based off an idea that is simply a pipe dream.” He told us other details that painted a picture of a “perception is reality” culture within the company. He was 100% accurate in his claims.
So much respect for Shultz, Chung, and the other employees that helped with exposing her. Though few, good to know there are still people with integrity in these companies. I hope they throw the book at her. Holmes and Aswari may not look like serial killers we are used to hearing about, but that’s exactly what they were.
I don't know the real answer, but I suspect it might be because she never interacted directly with the patients. She defrauded the investors and the industry customers because she made the false claims directly to them.
I had the same question in regards to defrauding the patients. A kind viewer of you tube provided me with these facts: “The defense largely won those counts in by prevailing with the judge on pretrial motions that severely limited the scope of patient testimony, they were barred from being asked about physical or emotional harm they experienced as a result of faulty test results and only patients who paid out of their own pocket for the test were allowed to testify at all”.
Likely because it is difficult to prove causation. That is, it is hard to find patients whose blood was put through Theranos who then suffered illness thereafter and to then link that illness to a Theranos misdiagnosis.
Or selling products that aren't 100% "safe & effective" and whose producers are immune from prosecution (think vaccine manufacturers). And bill taxpayers for that, which is even worse.
I remember working at the Children’s Hospital when a Rep for Theranos came in trying to “sell” their services. Anyways after the Rep left I was talking with an Endocrinologist Doc about her thoughts on it, and she said ain’t no way. The doctor did not buy what they were selling and never referred any patient to them.
Probably saved a few lives or kept them out of danger. I remember going to Walgreens and seeing these boxes, with the price list, and thinking " I don't trust this, I won't put my health in the hands of a vending machine". Prophetic thoughts.
If she confidently bamboozled investors out of millions upon millions of dollars...bamboozling a bunch of suburbanite jurors must have been a fricking cake walk!!
I want to know more about the psychology of how someone can live that big of a lie. She knew it didn’t work and had nothing to show for it. Did she actually think it would work out in the end?
it's years and years of a lie and the President and capitalists telling her she is amazing ( for achieving nothing BTW) and throwing money at her, at this point she believes her own lies.
She’s soulless, heart of stone selfish, and sick. She chose Fraud, but could have easily excelled as a sociopath serial killer. To this day, she sees nothing wrong with her behavior. Wow.
People like that usually pass the checklist for psychopathy or sociopathy where they get the diagnosis for some sort anti social disorder. These people just have a very low capacity to feel empathy and remorse. On the plus side they have a near immunity to anxiety and stress but this is where can get dangerous.
I think a huge lesson can be learned from this. Elizabeth’s passion was money not the idea itself. I think that was her main issue. She didn’t care about the product, the people she’s helping, or the impact her product would have. She wanted to become a billionaire and it was obvious. She lied and manipulated not because she believed her product would work, but because she knew that she’s making money from selling an idea. And I think she knew that one day this would come crashing down. She didn’t care because she reached her goal of becoming a billionaire. So the lesson here is be passionate about the product and the mission not the success the follows.
I know. Why did those employees with advanced degrees stay with her for almost two years? They could have easily gotten another job. Now, they're being cited as heroes. 🙄
@@margo3367 Elizabeth deliberately kept the the scientists working in silos and in competition with one another so for a lot of the time they never really had an idea of what was happening across the company and how far they were developing. She also sacked so many staff over the years who even dared question her or show concern and were made to sign NDAs or threatened with huge lawsuits if they said anything. She hired one of the most expensive and ruthless law firms in the US just to keep people quiet.
20 years in prison to still having millions after she get out? AND she will not have to raise the kid? Its a win win for her... They should take ALL her money AND have 25 years in prison...
I can only imagine how disappointing it must have been for these bright, young, capable minds to realize that they had committed themselves to a total sham of a corporation.
I've never heard this fraud explained so well by people who worked at Theranos. The evidence at the trial was fragmentary. This is excellent reporting, 60 Minutes found the right people to ask and they knew what was going on. Excellent testimony.
I think the entire case is a commentary on Silicon Valley‘s culture there’s so much hype so much exaggerating in this culture that young entrepreneurs are basically bred to behave in what Elizabeth did
@I O keep in mind this was during the unicorn boom (The unicorn club is the billionaires tech start up club emerging at Silicon Valley at the time) and people believed that this company was going to be the next Facebook and they wanted to jump on the next Rainbow rocket to riches
CBS Nora O’Donnell swallowed the bait on her first Theranos report like everybody else. As a reporter, she has no credibility in my eyes. Just a very pretty apple who fell far from the journalism tree.
Can we actually have people face jail time for once? if this all ends with just money being paid how can we really have any faith that people who do this actually face consequences that they'll truly feel.
she won't get jail time coz the only mistake she did was she failed miscalculated and Failed. you see she is not a scientist. she is just a marketer or motivator speaker (if that you prefer to call them). steve jobs and her are the same. they both good at talking about the future and telling a story about what "they think" and "the idea". the difference between them is Steve job knows his product is possible to make he only needs to find the proper people to make one. (iphone is no unique there are several attempt year before it.) and that where his talent comes in. he knows how to talk, to motivate people, to lure these people to come to him and make the product possible. This lady on the other hand miscalculated it. her product is impossible to make atleast for the current era. (we can call it , she is ahead of his time... but she isn't). she knows how to talk, to motivate people.. to lure these "right people" to come and make her product possible. problem is ... it isn't possible. she failed. and that's it. and that's the hard truth. nevertheless the only big losers here are those who invested on her. which most likely are wealthy people. so .. I don't care. they deserve to lose those money.
@@ChibiKeruchan I have worked with industry as a physician and the difference in your analogy is that these CEO's need to be cautious about reporting when things aren't yet working. To make it clear how and why they aren't and suggest that a solution exists. She and her board, who btw share the blame here, didn't do this well. I don't think they realized they were in the medical device industry NOT the computer software business. There should have been a physician and scientist review board that was making it clear what this idea could and couldn't do safely. Finger stick can be used for many chemistry and serum based studies and the idea of using very small quantities has merit. In fact the inspiration here is that there has been huge progress in the area. Obviously we rely on this for blood sugars. The problem is not enough to give a full accurate reading for the majority of the panel we normally order. Pushing cells through a slit opening as opposed to a vein causes lysis of the cells which then interferes with accurate readings for over half what you generally want to know. This was obvious to anyone in the field..well not to this group apparently. So it wasn't a full on scam and I would say it would be interesting to see what was getting accurate measurements that could have been product that was useful for many in-office studies. I don't know what has become of the work and money spent on R&D. I agree the speculative investors made money on the way up and many shorted on the way down..The funds probably ate it the most. I do think that considering how many overpromised companies fail that we pretty much just know HER name..Burn the witch? What about the Wickens?
One thing in my experience working in startups, be extremely wary of the word "disrupt." Every company that claims to be "disrupting the [x] industry" is a company without a real product. That word is a huge sign that they've simply slapped their name on existing technology, and are hiding it behind a slick a landing page.
im amazed by her ability to scam and defraud people. she even seduced a rich heir to marry her and be her baby daddy. LOL shes a real pro at scamming. Finally, the law caught up to her.
To me it's a miracle how a well-off good looking guy chooses a criminal fraudster as a partner. Yes she is physically quite attractive I suppose, but there are millions of attractive women in the US who are not criminals. Any explanations?
Absolutely, this is the same FDA that agreed with Purdue Pharma that Oxycontin was non addictive. 200,000 Americans died of opioids overdoses last year. I thought the FDA was set up to protect us not the corporations profits? With stories like this who needs conspiracy theories to muddy their name.
She is a con artist of the worst kind. Amazes me how many politicians and wealthy people got suckered into “the vision”! The “ Edison” what the heck? 🤣🤣🤣
She was also faking two internal 'reports', editing the contents and sticking other company logos on them to pass them off as 'approval' and admitted it under oath - saying it wasnt her intent to deceive anyone. So any investor who asked too many questions got forged documents in response.
Thank you, Tyler Schultz!!! You are awesome and I am so proud of you for doing what you did. You could have just quit and gone on to something else but instead you took risks and did what needed to be done. Bravo!👏
This woman literally had a kid to try and get out of having this trial. Now her kid will be raised without her. Which is probably the best thing for the kid. Unfortunately the fact that her family is loaded she will probably get some time but it will be deferred as she just had a child.
@@gheller2261 probably less, she needs years. She was on complete control of the business and knew everything that happened. It was part of her obsession. She lied to investors consistently and kept lying to the investigators. In a perfect world this wouldn't be problem.
At least they found her guilty. It's only symbolic. With her lawyers, the money she stole, and her sympathy tactic of having a baby while on trial, she will get a ridiculously light sentence if any.
Nonviolent, White-collar crime No priors Federal Sentencing Guidelines but concurrent sentencing allowed 5 - 10, out in 3 - 5. (Just in time for WASP-anchor baby's preschooling)
It took an insider to whistleblow on the fabrication of lab results and dubious practices. Shouldn't the checking and verification process be carried out by the regulators without the need of whistleblowers? Are whistleblowers the only way companies and organisations can be held to account?
A good illustration that government licensure and regulation is often pointless and even dangerous. Consider: Are the politicians who oversee these regulators facing prison time or fines for their gross negligence? Do we even know who they are? If not, why not? Who is responsible?
@@TheKebbish Regulation is worthless if those doing the regulating are incompetent or corrupt. Putting politicians in charge of things might feel righteous, but... they're politicians. They'll tell you whatever you want to hear. Organizations are already regulated by consumers. Being lazy by trusting (and paying higher taxes to) politicians just to tell you which organizations are trustworthy implodes much more often than publicized.
@@AlexisKasperavicius You describe regulatory capture but offer zero alternatives to regulatory systems. Regulation is absolutely necessary or all of these corporate clowns would be pulling stunts like Holmes
She always gave me the creeps especially her fake voice and the way she looks at people almost like a robot. It was exposed that this is not her real voice, she was caught using her real voice couple times.
One of her college professors come forward and said that she even faked her voice. She deepened it to sound more authoritative. He said that she didn't talk like that in his class. She is bonkers.
@@Do_not_assume it was a female professor and this was while she was still in college. Right before she decided to dropped out of school. I kind of wish she came forward and gave her piece of the story but hey 🤷🏾♀️
I followed this story from when Carreyrou first exposed them. I read his book, listened to the podcasts, documentaries, countless news reports. I understand how she pulled this off and fooled so many people, but it still boggles my mind that it took over 10 years for her to get exposed. You would think of all the clients, investors, employees, media, blood testing industry, etc. someone would have stood up sooner and alerted everyone that this was pure BS.
As a Medical Laboratory Scientist who actually runs these tests, I'm pretty sure any one of us could have realized this was illegitimate... We all see how much sample all these different analyzers take for their respective tests and knew that one analyzer would not have the assay compatibility to run hematological, chemical, molecular tests etc. But when you have people who are so far removed from the actual lab work, I can see why they bought such an appealing story.
Many did. There was a lab tech and blogger (I forgot the name) who criticized and questioned the technology before there were any suspicions but nobody listened to them. Even Elizabeth's own professor said that her idea was impossible. The fact that there were zero doctors or medical professionals in the company board is a massive red flag.
5:58 her lack of direct eye contact with the interviewer and the looking downwards demonstrates her concocting the lie on the spot. You can detect a level of hesitancy in her voice as she realises just how incredulous the lie has become as she continues, probably while thinking, she's so far ahead and generated so much credibility that few would bother to check on the validity of her 'John Hopkins' revelation!
No, she did not make this up extemporaneously. She actually told this to George Shultz privately before this. I don’t have a link, but I know there’s an interview where he repeats this story (and also talked about CDC delaying validating their Ebola tests - which was another lie Elizabeth had told him). Sorry, body language isn’t enough to tell you the full story. And we should be careful not to concoct a narrative just because it’s easy!
She IS a liar, but your non-verbal cues are not an exact science. Direct eye contact? It’s not a staring competition. Looking down could mean thinking, not lying. BUT in Her case, yes she’s a liar.
@@Lucian-mg9mw Anyone lying to get monies IS an evil entity...because stealing is only one thing this women went to court for. There are so many other crimes she committed to make her decide to steal...Her personal crimes.
Didn’t know the “Drop out” is a real story, I was watching it and wondering when the madness gonna end with a happing ending. Now know why the show kept getting from bad to worst.
What proves Elzabeth is really a monster is that she still has the guts to keep asking investors to put in more cash to a massive fraud company which is worth $0.
@@jg79100 Yeah, that's very true, the 'Fake it until you make it' saga continues at Silicon Valley and no ones seems to do anything about it. I was surprised to know that Elizabeth's fraud company managed to remain out in the field almost two decades without getting caught, that is freaking Scarry!
Investors were greedy, so it was easy for her. It was almost a ponzi scheme, but no investors got paid out. If it was not for the fact that peoples health was put at risk, you could laugh about it. Investing 100 million dollars into a black box that did not work and you did not look at it to make sure it worked!
And Holmes will probably get little to no jail time after a retrial and her lawyers push and shove to get their way. And of course none of the investors will get their money back. Only in good ole Capitalist America.
What does Elizabeth Holmes have in common with Sam Bankman-Fried (apart from the fact they are both in gaol)? Neither of them were ever actually a billionaire. It was all smoke and mirrors.
I think Elizabeth THOUGHT she was clever enough with her look, voice and charm that would make people want to believe it or possibly let her get away with it, and it almost worked.
Sunny wasn’t the ceo. She was ceo from day 1. He is guilty as much as her. But she is so much worse. She has no remorse for what she did. She had her trail but it was against investors. She was not held accountable for the patients who suffered from her “product”.
You forgot that he further enabled her. Without him the scam wouldn't have lasted as long and she wouldn't have gotten near actual human beings that she used as patients.
A college drop out who obviously fakes her voice, how would anyone figure out she was a fraud... Her own professor knew she was a fraud. She knew the voice was fake and knew she was clueless about the science, yet people threw money at her ideas anyhow. The fact people let her get away with spouting gibberish during interviews and never answering direct questions is absurd.
This truly shows how vulnerable our country is. If these so-called smart politicians and doctors, even Bill Clinton were so easily deceived by her, then our country is vulnerable. I am amazed and shocked at how she had these people on her fingertip. Only one reporter John Carreyrou discovered her deception.
She was able to do all this because she is a pretty young woman, it’s as simple as that. I seriously doubt that a sweaty overweight neckbeard guy would have been able to pull this whole thing off.
@@DoctorZacharySmith I agree, this could be one of the most important reasons, another one is some politician wanted to get credit by so-called "supporting female inventors", did you see Bill Clinton to be one of her best admirers?
@@DoctorZacharySmith You mean real lookers like Andrew Wakefield, Bernie Madoff, Ivan Boesky, Willie McNeal, Fernando Mendez? Did her youth and looks aid her. Likely. No chance it was that alone.
@@keelahrose I read somewhere that she deliberately lowers her voice pitch (ie what we are hearing is not her original voice), something to do with psychology along the lines of people deeming deeper voices as more trustworthy.
Norah O’Donnell and other media figures played a crucial role in the rise of Elizabeth Holmes… I haven’t forgotten the puff pieces that were done… CBS should probably have been a co-defendant…
In 2015, Barack Obama selected Holmes as an Ambassador of Global Entrepreneurship. …from an article published by nymag entitled “Elizabeth Holmes’s Last Pitch”
It's amazing that a college dropout managed to convince older, wealthy men of technology neither she nor they understood. Investors got exactly what they deserved- they lost money because they didn't do their homework.
It's always a mystery to me why people who run scams like this think they can get away with it. Surely they know they can only go so far before they are caught.
The fact that this woman and her "secret" boyfriend are at this moment still enjoying living lofty and free lives rather than being locked away in a jail cell somewhere is just one more example of a failed justice system here in America.
Holmes was convicted on four federal charges of fraud on Monday. Three of those four counts were for wire fraud, which carries a fine of up to $250,000 for each offense and a maximum of 20 years in prison. She is currently awaiting sentencing, while Balwani is also expected to stand trial on similar charges in March.
Because intensive research and investigation into "pop up" miracle machines is "dull and boring", while blind-faith high-rolling investment is "cool, trendy and sexy".
She has been prosecuted for defrauding investors but not one word about any of the patients that were / could have been harmed in any of the court findings. Typical US health industry, with care being the last word it wants anything to do with.
The patients were also included in the trial however the jury acquitted Elizabeth of defrauding patients. In an interview with ABC News is Rebecca Jarvis one of the jurors said that they acquitted her because they truly believed that Elizabeth did not intend to harm these patients, they really wanted to believe that she wanted to change the world for the better. The convictions come from her wiring more than $138 million from investors that was the most concrete piece of evidence that they had. I would imagine she would go to jail for another 5 to 10 years personally she needs to go to for 20 but I’m not a judge.
Unfortunately no. Her dead psychopathic gaze and horrendous fake voice wouldn't last 3 months on Television. Her voice should be a crime just by itself. It sounds exactly like a middle-schooler trying to imitate an adult as a joke, but in her case it is not a joke.
They should've added an extra charge for that ridiculous fake voice. Thank goodness they found guilty, but I still don't get how she got away with giving out whacked out test results to the public.
Talking as an auditor, money. At the end of the day, people listen to money rather than truth. Auditing, like many things, is a business and giving failing reports to businesses is how auditors lose business. Additionally, more clients have to be brought in because clients drop out. A lot of overlapping projects. Ultimately, this is how auditors face demanding workloads and they are most likely to overlook things. Heavy regulation over the last 20 years by the government has made auditing a check-the-box project. We are essentially being told where to look and where not to look by these checklists. College graduates with no work experience are also a part of the problem. The education system continuously fails the public. Over time, auditing will become extinct because of the current toxic model.
How is it possible for someone to make claim after false claim for years and get away with it? Simply unreal, they should lock her up and throw away the key, she played with peoples lives.
Have you been living in a cave? Politicians do this every day. Trump can make two contradictory statements in the same speech and get cheers for both from his zealots and accolytes.
Basically, one lie is supposed to cover another lie. This keeps piling up until no more lies can cover it up and the entire thing collapses. It's a similar logic to how a Ponzi scheme works.
I did a paper on Theranos for college. Ms. Holmes is obsessed with Steve Jobs, and wanted to fill the niche that Jobs left open. Holmes copied everything that Jobs did, from clothing, choice of vehicle, even the set up of Jobs’s office. But, Holmes ignored the things that made Jobs great, Jobs had a clear vision for Apple, and the drive and motivation to take technology to the next level
Steve Jobs: An Actual Visionary who wanted to create world changing products. Holmes: A Wannabe visionary who wanted to become Steve Jobs (couldn't care less about what she was selling and wasn't qualified to do it anyway)
uh Jobs was a bit of a huckster too. the difference between them was Jobs had the Woz. Wozniak built Apple initially. yeah Jobs had vision and social skills to make the deals. then later he had an army of folks to develop the ipod ipad and iphone. at that point all jobs did was scream I WANT IT SMALLER.... NO ONLY ONE BUTTON
9:08 Why did Tyler Schultz contact the New York State Dept of Health Regulators? Isn't Silicon Valley in California? At 10:40 When Norah asks "What kind of job did the board (I'm assuming it was the New York State board since no other board is mentioned in the piece) do in holding Holmes accountable?" The writer says "they did nothing...." Was there any investigation of the Board for doing nothing?
I wonder how many lost their lives because of her… It’s much important than how much investors lost $$… A dangerous personality Tyler and those who spoke up, thank you.
How did anyone fall for that voice? It's exactly what i did when i was 5, just close your nose and speak deeply mom will think you're sick and you can stay home today & watch harry potter
I’m pretty sure that she thought that if she just kept at it and threw money at it, some employee would eventually do some kind of breakthrough. She had a “vision” and her personality would never allow her to fail, so in her mind she wasn’t doing anything wrong. Eventually “she” would revolutionise the healthcare industry and be the legit entrepreneur she already felt she was. Sad case, sad woman, I hope she gets the help and judgement she needs. The investors and other people who got fooled, can only blame themselves for not even doing some basic research. Mind boggling and pathetic really
I just finished thr book by John Carreyrou BAD BLOOD. It is all about Theranos. This is the first time I read a book with my jaw dropping the whole time of my reading. Sunny and Elizabeth were awful humans. I know Bawani is now going on trial and Elizabeth Holmes was just found guilty. I hope they spend the rest of their life in prison.
Seeing the comment section open…I hereby thank you 60 minutes Australia for doing such a phenomenal job for reporting and documenting such topics…love from pakistan 🇵🇰🇵🇰
I remember the first time I heard of her. I immediately said to myself "this is not possible." I saw that she was a fraudster from the very beginning. How is it that people much smarter and with a lot more money than me did not see it?
@@Mr.Quinlan888 First interview I saw her, Homes did not speak with the deep voice and she did not wear the turtleneck. I was watching and listening and thinking "I don't care how brilliant she is, there is no way a 19-year-old could accomplish this." But she was blonde and what a lot of older white men would find attractive, and I think that is part of what drove her success and she knew it. If Holmes had been an overweight woman or a woman of color, nobody gives her a meeting. Period. Oh, and daddy had been a corporate executive with Enron (though my understanding is he was never implicated in their fraud) so that had to have opened some doors. I also think the investors liked the idea of being able to take credit for being supportive of a female inventor and entrepreneur and she took advantage of that as well. It is mind numbing that nobody asked her for real proof that the technology, even if then only theoretical, could work, and that none of the investors sought the opinions of other scientists. Although it is only one person, the Stanford professor interviewed by Alex Gibney stated that she was very clear when speaking to Holmes that the technology she wanted to create in the manner that she wanted to create it is not physically possible (not now, not ever).
@@Mr.Quinlan888 Thank you! I was going to say the exact same thing. Sometimes it’s a hassle to get an accurate reading on our glucose meters from a drop of blood just to check blood sugar levels… But her machine was supposed to do all of that??? Pfft.
Well, it was a lot of money and people, no matter how much they already have, are easily swayed by money. In the big picture of humanity, it is now clear that integrity, respect and dignity take a backseat to money. Sadly, that's just the way it is, but it is now clearer than ever. The only silver lining is that no person should ever be disillusioned by this kind of thing ever again! People should simply come to expect the worst of everyone...And I don't mean hope for the best, and expect the worst, I mean, just expect the worst right out of the gate!
It's hard to blame them. The majority of working people are in a similar situation. Could you choose to drop your income to zero, without hesitation? Knowing that due to your "betrayal" you'd never get another job in your field? Maybe if you don't have a family relying on your support, and have no debt, and have big savings. Very few people fit that situation.
what! the security of a full time job is nothing to laugh at, people have families, children to feed, bills to pay- even the whistleblowers were like looking back i would of told my past self to not do that again- they were dragged through the mud. It’s not easy going to a 0 income and facing harassment and threats esp if you have a family.
She learned how to convincing lie, which we see so much of in businesses, corporations and by government representatives today. It has literally become an epidemic and one that a productive society cannot maintain for much longer.
Fun fact: Elizabeth Holmes's father is Christian Rasmus Holmes IV, former vice president of Enron. Enron was once a billion-dollar company but is now bankrupt due to a fraud scandal. Isn't it nice how Elizabeth kept the family tradition going?
Good info.
Yes that's so cool, we all love our dads! - Said Jared Kushner
Yep, it makes perfect sense. The apple wasn't far from the tree at all.
That answers a lot of questions. Like father, like daughter. Fraud, pure fraud. And greedy investors.
And apparently the Edison Machine confirmed she was fathered by Steve Jobs
For God's sake, she was 19 years old and droped out of university. Where from and when did her investors think she got all the knowledge she needed for her lab/device??? People are insane.
That part been boggling my mind as well
Ikr! madness greed
Great Silicon Valley marketing tactic
She shouldn't get anytime. She's a genius. Tricked many greedy people that never bothered to do any research
Interesting timing
My favorite person in this whole story is Dr Phyllis Gardner, the Stanford professor who never believed this (Theranos) could be possible and thought that Holmes may have committed fraud.
What’s even wilder she and Elizabeth served on the board of fellows at Harvard at one point in time together!
I remember hearing about Theranos when it was still considered a legitimate company. The device was described as a medical tricorder from Star Trek, and I was thinking, "how is that even possible?" Turns out it wasn't.
Walgreens fires their consultant hired to investigate Theranos in order to protect their best interest.
Walgreens installs Theranos' Edison Machines into their stores.
FDA regulators shut down the operation, due to immediate jeopardy to patient health and safety.
Walgreens: surprised Pikachu face.
Lawyers swoop in for a massive class action lawsuit against Walgreens, Theranos, et. al.
Walgreens: surprised Pikachu face x2.
Give it some time , big pharma will be selling her invention
Had a sales rep come into the Children’s Hospital I worked at and did a whole presentation. After the rep left I spoke with an Endocrinologist Doc and asked her what she thought about it because it was fascinating. The doctor looked at me and said “ain’t no way”. She did not comprehend how it would be possible and instructed us not to use their services.
This quote comes to mind: “All that is needed for evil to prevail is for good people to do nothing. “
I wonder how many people knew or should have known, but remained silent…
It can take a lot of sacrifice , a lot worth loosing to do the right thing. I’m sure there were a lot of unsuspecting employees who didn’t want to loose their jobs and income while supporting families. But of course- if your intuition tells you something is wrong, the best thing to do is to get out of that job.
It is a testament of our failed government and society which have been manipulated by the evil international banksters for the past 300 years. The USA is no different from Zimbabwe.
Trump has done the same deception within a different context since the 1980's.
We wouldn't be dealing with half the crap we are dealing with if we all actually just lived in the TRUTH of everything.
Amen!!! Perfect quote!
I am a retired Medical Laboratory Technologist and graduated with an Associate in Science degree at Elizabeth Seton College in Yonkers, NY in 1977. I have over 40 years in clinical laboratories beginning at Columbia Presbyterian MC in NYC and my initial specialty was in clinical chemistry and pediatric special chemistry. Pediatric chemistries were rarely drawn with adult vacutainer tubes of blood due to the risk of causing anemia. Micro samples were therefore typically collected for analysis and the quantities were similar to the amounts Elizabeth Holmes used in testing adults. When I first read about her analyzer I knew immediately that her claims were pure fiction from my many years of experience in laboratory techniques. Her samples were not even collected and stored appropriately and her analyzer was never peer reviewed nor was it tested by licensed pathologist.
@@set65 It depends on how many tests are ordered as well as the lab's requirements. Hematological tests require whole blood usually the collection tube's cap is color coded indicating the tubes anticoagulant (most often containing Heparin). The red top tube typically contains no anticoagulant at all because most chemistry tests use serum obtained by centrifuging the clotted blood. However, some of the tests can require either serum or plasma (for example, electrolytes). But these are not the only examples. I was trained to use an an automated analyzer that ran 21 tests on a single patient sample and on many 8 hour shifts we ran more than 600 samples: That's 12,600 tests results per evening shift not counting calibration and every 10 samples was a "control sample" to insure accuracy and precision. My college text book was, John D Bauer's "Clinical Laboratory Methods". A final reason and a very important one is that clinical labs are required to store left over samples in the event a physician request it be retested to insure a patient receives appropriate treatment based on the confirmed result(s).
"B-b-b-b-ut, *Trade Secrets!* "
Hype over science unfortunately - patients are the ones who suffer in the end
Elizabeth Holmes was smart at deceiving people. Nanotainer which was a good play on words with 10-9th power for nontechnology that is in the billionth decimal place. The machine named Edison is another play on words for Thomas Edison. Great idea tie together Electric powered generator with nanotechnology and be able to read far smaller samples of blood. I think what through me off was studying graphene and how they use cd-rom laser to separate the atoms. She got use to believe in fools gold that is for sure.
Good she’s convicted!
That whistleblower is a hero. This entire scenario is hilarious. So many delusional and greedy investors got swindled by an obvious con-artist, but were blinded by hype.
Blinded by greed
I know - and a 19 year old uneducated con artist. I had no idea it was so easy to get billions out of people with no scientific proof.
Rupert Murdoch and Betsy DeVos taking a bath on this mess is the one positive outcome.
Silicon Valley knew it was BS.
Like Clinton, Obama or Trump, all big crooks, mesmeriezed people
“This is what happens when you work to change things, First they think you're crazy, then they fight you, and then all of a sudden the jury comes back with guilty verdicts on four counts of wire fraud.”
Lol
😂😂😂😂
No kidding. The only crime she committed was using a fake voice.
🤣😂😅😁😄😃😀😂🙂🙃😊
I'm curious why all charges weren't a guilty
I love that the woman with a biology degree knew almost immediately this is BS.
Yet she continued earning paychecks, and filling her belly with fraudulently sourced income.
@@jbohnoff No, she's one of the two whistleblowers!
@@jbohnoff no she didn't she quit and turned Theranos in to the center for Medicare and Medicaid services. But countless other scientists worked there and knew it was bs and kept working there just for the money knowing full well what they were doing...one guy even killed himself to prevent testifying against Elizabeth! Ian Gibbons was asked to testify at a deposition about why Elizabeth's name was on numerous patents with his when she contributed zero scientific work on them, and instead of tell the truth he KILLED HIMSELF. Imagine the hold this sociopath had on her employees!
@SummerBreeze It's no wonder whistleblowers are hesitant to come forward -- look at how you're chastising her now
I love that women needed a biology degree to know this is BS.
My favourite part is when she wears a white lab coat and checks on everyone’s work like she has a degree in science or something hahahahaha. God bless America you really can be whatever you want when you grow up lol
You forgot to add: “if you’re rich” at the end of your sentence.
She was also extremely well connected which opened many a door and gave her added credibility.
I noticed that part, too. Lol
Lol
@@jimmyp7928 her dad was a former Exxon exec right?
I have so much respect for these two ex employees. Standing up and speaking up...so rare! I hope those ppl responsible at Walgreens who agreed on this deal are no longer there!
@@carlosrodriguez4503 “smart to buy”… if I sell you magical beans, are you smart for buying them? A bit of research would have raised red flags, instead they just threw money at her, NOT SMART.
@@SunnyDiegoProduction no amount of research at that time would have indicated that the company was a fraud, They had a NDA and the only time it was exposed was when people who work at the company broke the NDA
@@carlosrodriguez4503 Walgreens hired an expert to examine Theranos. He was suspicious and warned them against Theranos. Walgreens ignored his recommendations and they agreed with Elizabeth's demands that he be excluded from their negotiations. Pfizer had the wherewithal to refuse to do business with her. Walgreens deserve the blame for their actions.
That lady is a mad leader who she thinks is a boss to all of her employees and taking advantage of taking money from the government. Okay, I am gonna be straight with you, she is one sick delusional freaks of nothing but childs play.
@john lewis Thank you! We we’re paying attention.
I heard Walgreens sent their own guy to checkup on Theranos. He immediately reported trouble there to Walgreens but Walgreens didn't want to believe him. They were totally sold on what Holmes was pitching. They thought their own investigator must be wrong.
you heard?
Walgreens was afraid CVS was going to outbid them so the ignored his warning and took the bait. I know CVS looks back on it and thank the stars they didn't
@@KenDAKL4ever Yes, that is in the book "Bad Blood". Worth a read!
i read different. The Walgreens consultant was asking questions that Theranos deemed to be "offensive" and "disrupting" the meeting, and subsequently boo hooed to Walgreens upper management (he was simply asking due diligence questions to protect his employer, Walgreens...mind you). Walgreens then fired their consultant.
its also been speculated that Walgreens was very worried about CVS getting in on the action, and they wanted to lock it down b4 they did.
That’s crazy. Why even send him? Lmao
John Carreyrou deserves all the awards and recognition. He is a brilliant journalist
She caused a senior scientist to commit suicide. I hope she's being sued for contributing to his death. What an awful person.
That's not her fault
Didn't remember the media even covering that story😥
No one makes anyone commit suicide.
Why? How? Who?
@@rickjames5998 almost every suicide is because of others
She was obsessed with Steve Jobs and had no doubt heard of him asking for what seemed to be impossible and the engineers somehow figuring it out. She thought she could do the same but picked something that really was impossible.
😂
oedipal strivings for steve jobs
I don’t think it’s impossible. It just isn’t possible YET
🍎 and 🍊
@@squiggleworks9 Well, she had no idea how to make it happen. But she had no problem telling her investors and clients that she did. Ambitious is fine. Outright lying is a huge problem.
She was guilty of defrauding the investor. She was not guilty of defrauding the patients. Let that sink in.
In the US, investors are more important than patients.
@@manuelmarquez2514 And the socialist speaks.
Indeed, meanwhile oncology patients are erroneously being told that they have active disease and vice versa...
America
@@Grasshopper.80 Russia
As a retired medical technologist with many years of lab experience I am appalled that ANYONE could get suckered in and believe a drop of blood could accomplish all off these claims . It takes a lot of education, use of controls and specifications to be accurate . This is not a game ! It’s a dangerous harmful risk to patients lives. Unbelievable reckless behavior .
I wondered in hindsight what the people of Siemens and Philips thought the claims of Theranos.
Ive just finished watching The drop out, and agree with you. What I find mind blowingly scary, is how she got away time and time again, with people who should know better. It was terrifying to watch. I truly hope the rest of her life will be a miserable one.
I hope she goes to jail for a long time. She knew exactly what she was doing. She even lowered her voice to sound less feminine. Her lying was very conniving and very precise. I don't care how many kids she has now, she needs to go to jail for YEARS!
As the gravity of likely punishment sinks in, may Holmes feel the horror & despair the man who thought he'd contracted HIV felt; the woman who thought she'd miscarried felt; the common investors who lost their life savings felt; the whistleblower who fled the country felt; the family & friends of Sunny felt; and, Gibbons' widow felt.
She won’t. It’s w white collar crime. I doubt she would do time.
They will give her 20 but she will only serve 5 years I bet .
she won't go to prison most is a fine maybe 1 year of jail. the is American "Justice" we've seen it before. rules for thee nit for me is thier mantra
She's been found guilty of 4/11 charges. For fraud of this magnitude, hundred's of millions-billions of dollars, she'll definitely get 20 years plus, doing at least 5 years.
Elizabeth the psycho is the greatest saleswoman ever. The amount of greedy corporate idiots who fell for this is ridiculous. I wonder how many people had health problems because of this.
She is on par with Trump.
Big difference between being a saleswoman or a salesman and a swindler.
@@internetpeople6113 it runs in her family considering who her father is.
@@franciscojosemari4707 swindlers are good sales people, that's why they get away with things. That has nothing to do with those who do their work honestly, this can be true for both.
Investors were greedy, so it was easy for her. It was almost a ponzi scheme, but no investors got paid out. If it was not for the fact that peoples health was put at risk, you could laugh about it. Investing 100 million dollars into a black box that did not work and you did not look at it to make sure it worked!
While in the military, one of my fellow electrical engineers left the command to work on this project. When he came back he said “I can’t say a lot, but they will never figure it out. It doesn’t work. There is too much secrecy, too many limitations and the entire thing is based off an idea that is simply a pipe dream.”
He told us other details that painted a picture of a “perception is reality” culture within the company. He was 100% accurate in his claims.
Why did he say anything? He knew about the deception
@@2nickles647tough one... maybe signed a NDA.
So much respect for Shultz, Chung, and the other employees that helped with exposing her. Though few, good to know there are still people with integrity in these companies. I hope they throw the book at her. Holmes and Aswari may not look like serial killers we are used to hearing about, but that’s exactly what they were.
Shultz's grandfather turned out to be a serious loser.
How she did not get convicted for defrauding the patients is beyond me …
Our justice system needs a lot of improvement…
I don't know the real answer, but I suspect it might be because she never interacted directly with the patients. She defrauded the investors and the industry customers because she made the false claims directly to them.
BY DEFRAUDING THE SYSTEM
I had the same question in regards to defrauding the patients.
A kind viewer of you tube provided me with these facts:
“The defense largely won those counts in by prevailing with the judge on pretrial motions that severely limited the scope of patient testimony, they were barred from being asked about physical or emotional harm they experienced as a result of faulty test results and only patients who paid out of their own pocket for the test were allowed to testify at all”.
Likely because it is difficult to prove causation. That is, it is hard to find patients whose blood was put through Theranos who then suffered illness thereafter and to then link that illness to a Theranos misdiagnosis.
My thoughts too, that to me was as bad or worse. Extremely disappointed!
Just amazing how this was able to go this far. Basically selling a product that never existed for ludicrous amounts of money.
Or selling products that aren't 100% "safe & effective" and whose producers are immune from prosecution (think vaccine manufacturers). And bill taxpayers for that, which is even worse.
@@henryford2950 There is nothing in this world which is 100% safe and effective, never has been, never will be.
It was a long con.
Female, white, blonde, blue eyes, semi attractive. Tends to make men stupid and investors blind.
Well that's how powerful and accommodating white privilege can be.
I remember working at the Children’s Hospital when a Rep for Theranos came in trying to “sell” their services. Anyways after the Rep left I was talking with an Endocrinologist Doc about her thoughts on it, and she said ain’t no way. The doctor did not buy what they were selling and never referred any patient to them.
Excellent Dr
Bless your endocrinologist!
Hi
Probably saved a few lives or kept them out of danger. I remember going to Walgreens and seeing these boxes, with the price list, and thinking " I don't trust this, I won't put my health in the hands of a vending machine". Prophetic thoughts.
It’s interesting that the woman with 11 yachts fell for this, yet she replaced science in Michigan schools with “Jesus”.
Love how she puts on the lab coat and walks around like she actually knows something.
Live action role play lol
Cosplaying as an educated entrepreneur...
How the jury were able to hear information like this and not find her guilty in lying to patients baffles me.
Because you are the plebs and they are the elites.
The more money you earn or steal you join the club of privileged.
Comprende?
If she confidently bamboozled investors out of millions upon millions of dollars...bamboozling a bunch of suburbanite jurors must have been a fricking cake walk!!
The jury system is a joke.
Because millionaire donors have the receipts (evidence). Regular people do not; therefore it's more difficult to prove.
They did find her guilty of four counts
I want to know more about the psychology of how someone can live that big of a lie. She knew it didn’t work and had nothing to show for it. Did she actually think it would work out in the end?
it's years and years of a lie and the President and capitalists telling her she is amazing ( for achieving nothing BTW) and throwing money at her, at this point she believes her own lies.
Same with Bernie Madoff.
She’s soulless, heart of stone selfish, and sick. She chose Fraud, but could have easily excelled as a sociopath serial killer. To this day, she sees nothing wrong with her behavior. Wow.
People like that usually pass the checklist for psychopathy or sociopathy where they get the diagnosis for some sort anti social disorder. These people just have a very low capacity to feel empathy and remorse. On the plus side they have a near immunity to anxiety and stress but this is where can get dangerous.
She hoped it would I do believe....
This is honestly something out of a sci-fi movie.
Entitled white woman karen who thought she was above everyone else. She deserves a long sentence. Sociopath!
@@jules-cb6ni RACIST!
@@historyouuu3495 no. It's just the truth. You're looking for racism where there is none.
@@historyouuu3495 you're part of the problem.
@@historyouuu3495 racist? Surely you're being sarcastic? Context was descriptive.
I think a huge lesson can be learned from this. Elizabeth’s passion was money not the idea itself. I think that was her main issue. She didn’t care about the product, the people she’s helping, or the impact her product would have. She wanted to become a billionaire and it was obvious. She lied and manipulated not because she believed her product would work, but because she knew that she’s making money from selling an idea. And I think she knew that one day this would come crashing down. She didn’t care because she reached her goal of becoming a billionaire. So the lesson here is be passionate about the product and the mission not the success the follows.
This shows how much a successful scam depends on the workers silence.
I know. Why did those employees with advanced degrees stay with her for almost two years? They could have easily gotten another job. Now, they're being cited as heroes. 🙄
@@margo3367 Money
@@margo3367 Advanced scam degrees, intelligence and scholar ship is two very different states of mind
And greedy investors lol
@@margo3367 Elizabeth deliberately kept the the scientists working in silos and in competition with one another so for a lot of the time they never really had an idea of what was happening across the company and how far they were developing. She also sacked so many staff over the years who even dared question her or show concern and were made to sign NDAs or threatened with huge lawsuits if they said anything. She hired one of the most expensive and ruthless law firms in the US just to keep people quiet.
The life style she lives even after getting caught shows she take zero responsibility hope she gets 20 years.
20 years in prison to still having millions after she get out? AND she will not have to raise the kid? Its a win win for her... They should take ALL her money AND have 25 years in prison...
YOU MUST BE A CLINTON SUPPORTER ..PUBLIC RECORD CLINTON IS IN ON IT
@@Kiyoone 25? She should get 80
I agree.
@@phillysauto4724 No, that's not true. Was Betsy DeVos in on it too?
The fact that we get free documentary on TH-cam by 60 Minutes is truly a gift. 🤙🏽
Show: *called 60 min*
Video: *14 min*
This is actually the real 60 minute story on her th-cam.com/video/BgNfrDXr7uA/w-d-xo.html
@@Gazzaxxo Thanks Gaby...mami?
Cold fusions video is better tho but this is neat too
I just can't understand the amount of time and honest people it took to take this fraud down... that is the most frighting...
Imagine having a college degree in biology and chemistry and working for these crooks.
Her sentence should be 50,000 years.
Meanness of this type is something unfathomable to me
I can only imagine how disappointing it must have been for these bright, young, capable minds to realize that they had committed themselves to a total sham of a corporation.
An insult to our profession
Yea keep her bone dust locked up
Looking at leas than 20, 5 year minimum.
I've never heard this fraud explained so well by people who worked at Theranos. The evidence at the trial was fragmentary. This is excellent reporting, 60 Minutes found the right people to ask and they knew what was going on. Excellent testimony.
I think the entire case is a commentary on Silicon Valley‘s culture there’s so much hype so much exaggerating in this culture that young entrepreneurs are basically bred to behave in what Elizabeth did
@I O keep in mind this was during the unicorn boom (The unicorn club is the billionaires tech start up club emerging at Silicon Valley at the time) and people believed that this company was going to be the next Facebook and they wanted to jump on the next Rainbow rocket to riches
CBS Nora O’Donnell swallowed the bait on her first Theranos report like everybody else. As a reporter, she has no credibility in my eyes. Just a very pretty apple who fell far from the journalism tree.
@@wmonroe21 And she admitted it.
This only scratches the surface… I highly recommend the book.
Can we actually have people face jail time for once? if this all ends with just money being paid how can we really have any faith that people who do this actually face consequences that they'll truly feel.
she won't get jail time coz the only mistake she did was she failed miscalculated and Failed.
you see she is not a scientist. she is just a marketer or motivator speaker (if that you prefer to call them).
steve jobs and her are the same. they both good at talking about the future and telling a story about what "they think" and "the idea".
the difference between them is Steve job knows his product is possible to make he only needs to find the proper people to make one. (iphone is no unique there are several attempt year before it.)
and that where his talent comes in. he knows how to talk, to motivate people, to lure these people to come to him and make the product possible.
This lady on the other hand miscalculated it. her product is impossible to make atleast for the current era. (we can call it , she is ahead of his time... but she isn't).
she knows how to talk, to motivate people.. to lure these "right people" to come and make her product possible.
problem is ... it isn't possible.
she failed. and that's it.
and that's the hard truth. nevertheless the only big losers here are those who invested on her. which most likely are wealthy people. so .. I don't care. they deserve to lose those money.
@@ChibiKeruchan by your logic every scammer has failed, he had the best of intentions but his little scamming brain miscalculated :(
@@ChibiKeruchan I have worked with industry as a physician and the difference in your analogy is that these CEO's need to be cautious about reporting when things aren't yet working. To make it clear how and why they aren't and suggest that a solution exists. She and her board, who btw share the blame here, didn't do this well. I don't think they realized they were in the medical device industry NOT the computer software business. There should have been a physician and scientist review board that was making it clear what this idea could and couldn't do safely.
Finger stick can be used for many chemistry and serum based studies and the idea of using very small quantities has merit. In fact the inspiration here is that there has been huge progress in the area. Obviously we rely on this for blood sugars. The problem is not enough to give a full accurate reading for the majority of the panel we normally order. Pushing cells through a slit opening as opposed to a vein causes lysis of the cells which then interferes with accurate readings for over half what you generally want to know. This was obvious to anyone in the field..well not to this group apparently. So it wasn't a full on scam and I would say it would be interesting to see what was getting accurate measurements that could have been product that was useful for many in-office studies. I don't know what has become of the work and money spent on R&D. I agree the speculative investors made money on the way up and many shorted on the way down..The funds probably ate it the most.
I do think that considering how many overpromised companies fail that we pretty much just know HER name..Burn the witch? What about the Wickens?
They do it is called jailing ADOS "black" men, women and children due to racism.
No jail time for her as no patient's life was at stake here more of a misleading of their "well-renowned" product that had investors lose big time
One thing in my experience working in startups, be extremely wary of the word "disrupt." Every company that claims to be "disrupting the [x] industry" is a company without a real product. That word is a huge sign that they've simply slapped their name on existing technology, and are hiding it behind a slick a landing page.
Ditto for anyone who puts “disruptor” in their resume to describe themselves….
im amazed by her ability to scam and defraud people. she even seduced a rich heir to marry her and be her baby daddy. LOL shes a real pro at scamming. Finally, the law caught up to her.
LOL. it seems like her husband is a spoiled rich kid playing with daddy's money and screwing around with Instagram models. they are both trash.
And she’s 10 years her husband’s senior🤣
To me it's a miracle how a well-off good looking guy chooses a criminal fraudster as a partner. Yes she is physically quite attractive I suppose, but there are millions of attractive women in the US who are not criminals. Any explanations?
@@timschmitt7550 power, greed
@@Whirledpeas778 no I mean the other way around: why does the guy choose a criminal?
The FDA overlooked the Theranos scam. They must be held responsible
That reminds me of the boeing disaster too. Government agencies in America needs some fixing. This kind of dangerous corruption leads to loss of lives
this is America. Folks are NOT held accountable.
Case in point - Trump, Fox News and their lies etc. etc.
@@Hithere-ek4qt I ironically, I bet you're first in line to trust the FDA.
@@Hithere-ek4qt Folks? You mean the elites are not held accountable.
Absolutely, this is the same FDA that agreed with Purdue Pharma that Oxycontin was non addictive. 200,000 Americans died of opioids overdoses last year. I thought the FDA was set up to protect us not the corporations profits? With stories like this who needs conspiracy theories to muddy their name.
She is a con artist of the worst kind. Amazes me how many politicians and wealthy people got suckered into “the vision”! The “ Edison” what the heck? 🤣🤣🤣
Well, that’s the culture in the silicon : fake it until you make it. Furthermore, it shows how stupid and greedy our politicians are!
She was also faking two internal 'reports', editing the contents and sticking other company logos on them to pass them off as 'approval' and admitted it under oath - saying it wasnt her intent to deceive anyone. So any investor who asked too many questions got forged documents in response.
Smart people are the easiest to fool.
Ex: people that voted for Biden.
I guess "Tesla" was already taken, so you had to go to the next best thing
It figures that the likes of bill clinton and joe biden would be all bamboozled by this monstrosity of a human.
Thank you, Tyler Schultz!!! You are awesome and I am so proud of you for doing what you did. You could have just quit and gone on to something else but instead you took risks and did what needed to be done. Bravo!👏
Don’t forget about Erika Chung
This woman literally had a kid to try and get out of having this trial. Now her kid will be raised without her. Which is probably the best thing for the kid. Unfortunately the fact that her family is loaded she will probably get some time but it will be deferred as she just had a child.
Of course that is the reason she had that kid.
You watch. Whatever sentence she gets, she will be put in 18 months.
@@gheller2261 probably less, she needs years. She was on complete control of the business and knew everything that happened. It was part of her obsession. She lied to investors consistently and kept lying to the investigators. In a perfect world this wouldn't be problem.
She'll do a year. the important conviction was the patients part of the trial - not guilty.
A kid that now will grow without a mother and with the stigma of having her as a mother. The most selfish person in the world.
I read or heard in a news report that her Father was an executive at Enron. So she had early family coaching in Fraud.
Really? Did you hear that?
@@jamessullivan4391
I wish I could remember where I read this but I definitely am not making it up. It really doesn’t matter now anyway.
Wikipedia says her father was a VP at Enron.
@@ARichardP So she learned from the best, or should I say worst.
At least they found her guilty. It's only symbolic. With her lawyers, the money she stole, and her sympathy tactic of having a baby while on trial, she will get a ridiculously light sentence if any.
Nonviolent, White-collar crime
No priors
Federal Sentencing Guidelines but concurrent sentencing allowed
5 - 10, out in 3 - 5. (Just in time for WASP-anchor baby's preschooling)
It’s up to 20 years per charge, she will go to jail for awhile.
@@Georgeanne17 Likely concurrent sentencing Vs. multiple charges. (Unfortunately)
Hope a real rich shady person had invested on her... The mob kind.... We all know what happens to those people...
Her not guilty charges amaze the Fing smile outta me
The silver lining of this saga: Betsy DeVos and Rupert Murdock each lost $100 Million dollars.
Rounding error for them.
It took an insider to whistleblow on the fabrication of lab results and dubious practices. Shouldn't the checking and verification process be carried out by the regulators without the need of whistleblowers? Are whistleblowers the only way companies and organisations can be held to account?
A good illustration that government licensure and regulation is often pointless and even dangerous. Consider: Are the politicians who oversee these regulators facing prison time or fines for their gross negligence? Do we even know who they are? If not, why not? Who is responsible?
@@AlexisKasperavicius what do you mean? How do you suggest we regulate organisations?
@@TheKebbish Regulation is worthless if those doing the regulating are incompetent or corrupt. Putting politicians in charge of things might feel righteous, but... they're politicians. They'll tell you whatever you want to hear. Organizations are already regulated by consumers. Being lazy by trusting (and paying higher taxes to) politicians just to tell you which organizations are trustworthy implodes much more often than publicized.
@@AlexisKasperavicius You describe regulatory capture but offer zero alternatives to regulatory systems. Regulation is absolutely necessary or all of these corporate clowns would be pulling stunts like Holmes
@@biggeneral1628 All the corporate clowns do, do this. Everything the govt touches is corrupt. You want a solution? Regulation not involving the govt.
She always gave me the creeps especially her fake voice and the way she looks at people almost like a robot. It was exposed that this is not her real voice, she was caught using her real voice couple times.
It sounds so painful.
Even her visage was fake.
yes! the voice is awful... funny that she intentionally tried to sound like this?! who on earth would want to sound like that
@@auntiebagadonuts5950 who knows, obviously she's not right in the head. Her voice is just one thing in her list of crazy
Her and SuckeyBerg share common interests.. Or programmer.
One of her college professors come forward and said that she even faked her voice. She deepened it to sound more authoritative. He said that she didn't talk like that in his class. She is bonkers.
The professor was the only one who clocked her from early and said yea that’s completely impossible
@@staceyshere it's a shame the professor didn't bother to tell anyone about it. But is it his duty to whistleblow?
@@Do_not_assume it was a female professor and this was while she was still in college. Right before she decided to dropped out of school. I kind of wish she came forward and gave her piece of the story but hey 🤷🏾♀️
Still hot af.
@@staceyshere Even FAKED her voice..
I followed this story from when Carreyrou first exposed them. I read his book, listened to the podcasts, documentaries, countless news reports. I understand how she pulled this off and fooled so many people, but it still boggles my mind that it took over 10 years for her to get exposed. You would think of all the clients, investors, employees, media, blood testing industry, etc. someone would have stood up sooner and alerted everyone that this was pure BS.
She got exposed only after she sought out the mainstream media’s attention.
hbo piff
It’s the same way H1tler was allowed to rise to power. People were too shocked and scared to go against him.
As a Medical Laboratory Scientist who actually runs these tests, I'm pretty sure any one of us could have realized this was illegitimate... We all see how much sample all these different analyzers take for their respective tests and knew that one analyzer would not have the assay compatibility to run hematological, chemical, molecular tests etc. But when you have people who are so far removed from the actual lab work, I can see why they bought such an appealing story.
Many did. There was a lab tech and blogger (I forgot the name) who criticized and questioned the technology before there were any suspicions but nobody listened to them. Even Elizabeth's own professor said that her idea was impossible. The fact that there were zero doctors or medical professionals in the company board is a massive red flag.
I understand buying the story, but I won't ever be able to understand to invest millions on a machine without having a proper test before.
5:58 her lack of direct eye contact with the interviewer and the looking downwards demonstrates her concocting the lie on the spot. You can detect a level of hesitancy in her voice as she realises just how incredulous the lie has become as she continues, probably while thinking, she's so far ahead and generated so much credibility that few would bother to check on the validity of her 'John Hopkins' revelation!
The behaviour panel did some great videos on her body language. I found them really interesting x
Good catch
No, she did not make this up extemporaneously. She actually told this to George Shultz privately before this. I don’t have a link, but I know there’s an interview where he repeats this story (and also talked about CDC delaying validating their Ebola tests - which was another lie Elizabeth had told him). Sorry, body language isn’t enough to tell you the full story. And we should be careful not to concoct a narrative just because it’s easy!
Thanks Greg, what have you got Chase?
She IS a liar, but your non-verbal cues are not an exact science.
Direct eye contact? It’s not a staring competition.
Looking down could mean thinking, not lying.
BUT in Her case, yes she’s a liar.
The voice alone would send me running the other way.
😂😂😂😂...my thoughts too!!
And that scruffy unkempt hair!! 😂 WTF!?
Who remembers when Nora interviewed her and did a fluff piece promoting Theranos?
Elizabeth needed to be found guilty on all 11 charges. The fact that she wasn't proves that the justice system is no good.
Holmes is evil.
yes, one could envision someone like her as director of a concentration camp...
She’s not that evil. She was given too many ribbons as a child for just showing up. Typical modern day child rearing.
@@Lucian-mg9mw
Anyone lying to get monies IS an evil entity...because stealing is only one thing this women went to court for.
There are so many other crimes she committed to make her decide to steal...Her personal crimes.
@@ditchgator1 what??!?! Learn English grammar!!
I don't have sympathy for scam artists. Sentencing is lenient for these criminals.
Finkij Lua so predictable, maybe even herself.
Didn’t know the “Drop out” is a real story, I was watching it and wondering when the madness gonna end with a happing ending. Now know why the show kept getting from bad to worst.
All I’ll say is this: you’ve gotta look like Elizabeth Holmes to get away with a con on this scale. And I mean that in the literal sense. That’s all.
😂😂
Her and Anna Sorokin, the fake heiress! 😅😂🤣
that... is probably ridiculously true.
@I O she's looking at minimum 5yrs if the give leniency for her being a first time offender
@@thegoodsmaster she’ll get plenty of leniency based on the same thing.
What proves Elzabeth is really a monster is that she still has the guts to keep asking investors to put in more cash to a massive fraud company which is worth $0.
Corporate Media Gushed Over Theranos Fraudster Elizabeth Holmes
th-cam.com/video/rqVkYYsDOLY/w-d-xo.html
@@jg79100 Yeah, that's very true, the 'Fake it until you make it' saga continues at Silicon Valley and no ones seems to do anything about it. I was surprised to know that Elizabeth's fraud company managed to remain out in the field almost two decades without getting caught, that is freaking Scarry!
Investors were greedy, so it was easy for her. It was almost a ponzi scheme, but no investors got paid out. If it was not for the fact that peoples health was put at risk, you could laugh about it. Investing 100 million dollars into a black box that did not work and you did not look at it to make sure it worked!
Oh no poor widdle investors...
@@wildnfree101 because she was a woman
the gravity of fraud perpetrated by these criminals is breathtaking.
The stupidity of those swindled is equally astounding.
Bs
And Holmes will probably get little to no jail time after a retrial and her lawyers push and shove to get their way. And of course none of the investors will get their money back. Only in good ole Capitalist America.
What does Elizabeth Holmes have in common with Sam Bankman-Fried (apart from the fact they are both in gaol)? Neither of them were ever actually a billionaire. It was all smoke and mirrors.
If Elizabeth Holmes gets sent to jail, she can finally use her real voice to speak
How many people died believing a false negative or despaired due a false positive?
😢
I think Elizabeth THOUGHT she was clever enough with her look, voice and charm that would make people want to believe it or possibly let her get away with it, and it almost worked.
She thought UGLY worked for her is what you're saying???
@@DJMarkCorneliusThaDon she's a blond !
this woman is an idiot. she actually thought she would get away with it?
Elizabeth, is a delusional of mad queen of corporation.
Not sure about the voice…. Sounds a bit (not allowed say it anymore)
Sunny wasn’t the ceo. She was ceo from day 1. He is guilty as much as her. But she is so much worse. She has no remorse for what she did. She had her trail but it was against investors. She was not held accountable for the patients who suffered from her “product”.
You forgot that he further enabled her. Without him the scam wouldn't have lasted as long and she wouldn't have gotten near actual human beings that she used as patients.
Her damned voice. She couldn't even get that right.🤣
was she trying to imitate Adele?
She gave flat out lies without even blink
A college drop out who obviously fakes her voice, how would anyone figure out she was a fraud...
Her own professor knew she was a fraud. She knew the voice was fake and knew she was clueless about the science, yet people threw money at her ideas anyhow. The fact people let her get away with spouting gibberish during interviews and never answering direct questions is absurd.
This truly shows how vulnerable our country is. If these so-called smart politicians and doctors, even Bill Clinton were so easily deceived by her, then our country is vulnerable. I am amazed and shocked at how she had these people on her fingertip. Only one
reporter John Carreyrou discovered her deception.
She was able to do all this because she is a pretty young woman, it’s as simple as that. I seriously doubt that a sweaty overweight neckbeard guy would have been able to pull this whole thing off.
@@DoctorZacharySmith I agree, this could be one of the most important reasons, another one is some politician wanted to get credit by so-called "supporting female inventors", did you see Bill Clinton to be one of her best admirers?
@@DoctorZacharySmith You mean real lookers like Andrew Wakefield, Bernie Madoff, Ivan Boesky, Willie McNeal, Fernando Mendez? Did her youth and looks aid her. Likely. No chance it was that alone.
How can someone put peoples life in risk like this....... this so scary !
The words "creepy" and "ick" come to mind when I see and listen to her. Has anyone investigated the lives her company hurt or ruined?
I had never heard her voice before this interview. It's horrible; it sounds like she constantly has a bad head cold.
@@keelahrose I read somewhere that she deliberately lowers her voice pitch (ie what we are hearing is not her original voice), something to do with psychology along the lines of people deeming deeper voices as more trustworthy.
I remember the day she did her interview on 6O Mins thinking either she was incredibly genius or diabolical.
@@johnkho1744 That seems to fit her profile, but it's backfiring big time.
@@johnkho1744 And the fact she’s obsessed with being the next Steve Jobs. Heck she even dresses like him!
Norah O’Donnell and other media figures played a crucial role in the rise of Elizabeth Holmes… I haven’t forgotten the puff pieces that were done… CBS should probably have been a co-defendant…
Agree scams such as this can only work with the willing participation of the press. The hype equals good ratings.
Truth. Holmes was in every glossy magazine and on television presented as a genius savant..completely glamorized
Yup
In 2015, Barack Obama selected Holmes as an Ambassador of Global Entrepreneurship.
…from an article published by nymag entitled “Elizabeth Holmes’s Last Pitch”
@@Yellow-yd6cz hurts me to think
It's amazing that a college dropout managed to convince older, wealthy men of technology neither she nor they understood. Investors got exactly what they deserved- they lost money because they didn't do their homework.
They were thinking with their genitals.
@@Raymot1 I hollowed reading this comment
Never underestimate the power of being a simp
She was a young blond talking to old men. Nothing amazing here.
@@Raymot1 Yep. She knew where to go fund raising.
It's always a mystery to me why people who run scams like this think they can get away with it. Surely they know they can only go so far before they are caught.
Because they think they’re superior and the rest of inferior humans can’t catch them. A delusional form of narcissism.
They make hay while the sun shines
She kept the investors money apparently...
The fact that this woman and her "secret" boyfriend are at this moment still enjoying living lofty and free lives rather than being locked away in a jail cell somewhere is just one more example of a failed justice system here in America.
Holmes was convicted on four federal charges of fraud on Monday. Three of those four counts were for wire fraud, which carries a fine of up to $250,000 for each offense and a maximum of 20 years in prison. She is currently awaiting sentencing, while Balwani is also expected to stand trial on similar charges in March.
@@waxeightoneeight I was unaware of that. That is good to hear though. Thanks for the heads up.
*"The next Steve Jobs", more like the next Bernie Madoff!*
🤔😟😚🙂🥳
🤣🤣
Bernie stole from rich Jews went to jail
She stole from greedy investors gets a slap on wrist
Yep🤣🤣
Great to see the relative of a powerful politician doing the right thing for once !!! lol Well done Tyler !!
Politicians will do what's right...when it affects their own families
Elizabeth Holmes: " 💡let me put human blood in a laser printer and see what happens"....
Billionaire Investors : " 🤝💲💰💲💵💸💼
Because intensive research and investigation into "pop up" miracle machines is "dull and boring", while blind-faith high-rolling investment is "cool, trendy and sexy".
You forgot to mention that she is a nepo-baby. Neither you nor me would have gotten investors throwing themselves at us for silly claims as Holmes'.
Frightening how many highly influential people easily accept lies--and endanger the rest of us
Like the covid jab!
If you ever wanted to see a sociopath hyper-focused on telling a pathological lie, 5:58
She has been prosecuted for defrauding investors but not one word about any of the patients that were / could have been harmed in any of the court findings. Typical US health industry, with care being the last word it wants anything to do with.
AMEN!!
The patients were also included in the trial however the jury acquitted Elizabeth of defrauding patients. In an interview with ABC News is Rebecca Jarvis one of the jurors said that they acquitted her because they truly believed that Elizabeth did not intend to harm these patients, they really wanted to believe that she wanted to change the world for the better. The convictions come from her wiring more than $138 million from investors that was the most concrete piece of evidence that they had. I would imagine she would go to jail for another 5 to 10 years personally she needs to go to for 20 but I’m not a judge.
She swindled the swindlers 😂😂
She'd be a good politician.
She should run the Social Security Administration.
Unfortunately no. Her dead psychopathic gaze and horrendous fake voice wouldn't last 3 months on Television. Her voice should be a crime just by itself. It sounds exactly like a middle-schooler trying to imitate an adult as a joke, but in her case it is not a joke.
How she fakes a deep voice cracks me up. Lol
did she ever take the stand? I always wanted to hear how that aged...
@@newtempphone-ash9507 you and me both - I would love to know what voice she’s taken on now
@@lottieeliza6699 "MOM" was what I read 🤯
@@newtempphone-ash9507 yes she did take the stand, and she did use that weird fake voice
They should've added an extra charge for that ridiculous fake voice.
Thank goodness they found guilty, but I still don't get how she got away with giving out whacked out test results to the public.
This is so wild it is genuinely hard to believe. The degree to which those powerful men were easy to be manipulated is hysterical.
My question is how in the world did auditors not catch this? Most labs get audited annually… insanity.
Money
Talking as an auditor, money. At the end of the day, people listen to money rather than truth. Auditing, like many things, is a business and giving failing reports to businesses is how auditors lose business. Additionally, more clients have to be brought in because clients drop out. A lot of overlapping projects. Ultimately, this is how auditors face demanding workloads and they are most likely to overlook things. Heavy regulation over the last 20 years by the government has made auditing a check-the-box project. We are essentially being told where to look and where not to look by these checklists. College graduates with no work experience are also a part of the problem. The education system continuously fails the public. Over time, auditing will become extinct because of the current toxic model.
How is it possible for someone to make claim after false claim for years and get away with it? Simply unreal, they should lock her up and throw away the key, she played with peoples lives.
Have you been living in a cave? Politicians do this every day. Trump can make two contradictory statements in the same speech and get cheers for both from his zealots and accolytes.
Basically, one lie is supposed to cover another lie. This keeps piling up until no more lies can cover it up and the entire thing collapses. It's a similar logic to how a Ponzi scheme works.
Have you been living under a rock? Politicians do that everyday.
She just scammed the scammers.
And the littele man is always the one collecting the beating.
@@markknoop6283 Just like the US runs a massive Ponzi scheme but when normal people try to do it, they can thrown in prison.
Proving once again that true evil exists in the hearts of men (and women)!
She's a man, baby!
I did a paper on Theranos for college. Ms. Holmes is obsessed with Steve Jobs, and wanted to fill the niche that Jobs left open. Holmes copied everything that Jobs did, from clothing, choice of vehicle, even the set up of Jobs’s office. But, Holmes ignored the things that made Jobs great, Jobs had a clear vision for Apple, and the drive and motivation to take technology to the next level
Steve Jobs wanted to change the world. Elizabeth Holmes wanted to be rich & famous.
@@Deidarc the difference is that Steve Jobs work on computers while Elizabeth Holmes work on something impossible like biology.
Seems extremely sketchy..aka foreign involvement…spy money….etc… investigate the bf male investor
Steve Jobs: An Actual Visionary who wanted to create world changing products.
Holmes: A Wannabe visionary who wanted to become Steve Jobs (couldn't care less about what she was selling and wasn't qualified to do it anyway)
uh Jobs was a bit of a huckster too. the difference between them was Jobs had the Woz. Wozniak built Apple initially. yeah Jobs had vision and social skills to make the deals. then later he had an army of folks to develop the ipod ipad and iphone. at that point all jobs did was scream I WANT IT SMALLER.... NO ONLY ONE BUTTON
9:08 Why did Tyler Schultz contact the New York State Dept of Health Regulators? Isn't Silicon Valley in California? At 10:40 When Norah asks "What kind of job did the board (I'm assuming it was the New York State board since no other board is mentioned in the piece) do in holding Holmes accountable?" The writer says "they did nothing...." Was there any investigation of the Board for doing nothing?
I wonder how many lost their lives because of her…
It’s much important than how much investors lost $$…
A dangerous personality
Tyler and those who spoke up, thank you.
How did anyone fall for that voice? It's exactly what i did when i was 5, just close your nose and speak deeply mom will think you're sick and you can stay home today & watch harry potter
I’m pretty sure that she thought that if she just kept at it and threw money at it, some employee would eventually do some kind of breakthrough. She had a “vision” and her personality would never allow her to fail, so in her mind she wasn’t doing anything wrong. Eventually “she” would revolutionise the healthcare industry and be the legit entrepreneur she already felt she was. Sad case, sad woman, I hope she gets the help and judgement she needs. The investors and other people who got fooled, can only blame themselves for not even doing some basic research. Mind boggling and pathetic really
Her problem is a lot of narcissistic people's problem. They want the glory without doing the work.
That is basically how most startups operate, she just picked a really sensible sector
Typical. Her employee would’ve been the one who made the discovery while she takes the credit.
I just finished thr book by John Carreyrou BAD BLOOD. It is all about Theranos. This is the first time I read a book with my jaw dropping the whole time of my reading. Sunny and Elizabeth were awful humans. I know Bawani is now going on trial and Elizabeth Holmes was just found guilty. I hope they spend the rest of their life in prison.
Seeing the comment section open…I hereby thank you 60 minutes Australia for doing such a phenomenal job for reporting and documenting such topics…love from pakistan 🇵🇰🇵🇰
Walgreens stole froM their own employees by rounding down their hours so they got what they deserved! I’m glad all these rich people lost money 💰
I remember the first time I heard of her. I immediately said to myself "this is not possible." I saw that she was a fraudster from the very beginning. How is it that people much smarter and with a lot more money than me did not see it?
I'm a diabetic. Been living with it for years and even I knew this technology sounded like horsecrap.
@@Mr.Quinlan888 First interview I saw her, Homes did not speak with the deep voice and she did not wear the turtleneck. I was watching and listening and thinking "I don't care how brilliant she is, there is no way a 19-year-old could accomplish this." But she was blonde and what a lot of older white men would find attractive, and I think that is part of what drove her success and she knew it. If Holmes had been an overweight woman or a woman of color, nobody gives her a meeting. Period. Oh, and daddy had been a corporate executive with Enron (though my understanding is he was never implicated in their fraud) so that had to have opened some doors.
I also think the investors liked the idea of being able to take credit for being supportive of a female inventor and entrepreneur and she took advantage of that as well. It is mind numbing that nobody asked her for real proof that the technology, even if then only theoretical, could work, and that none of the investors sought the opinions of other scientists. Although it is only one person, the Stanford professor interviewed by Alex Gibney stated that she was very clear when speaking to Holmes that the technology she wanted to create in the manner that she wanted to create it is not physically possible (not now, not ever).
@@Mr.Quinlan888 Thank you! I was going to say the exact same thing. Sometimes it’s a hassle to get an accurate reading on our glucose meters from a drop of blood just to check blood sugar levels… But her machine was supposed to do all of that??? Pfft.
Greed
Just watched the series 'the drop out' actress plays her part very well.
What’s amazing is how easily the Theranos “scientists” sold their souls for the “security” of a full time job.
Well, it was a lot of money and people, no matter how much they already have, are easily swayed by money. In the big picture of humanity, it is now clear that integrity, respect and dignity take a backseat to money. Sadly, that's just the way it is, but it is now clearer than ever.
The only silver lining is that no person should ever be disillusioned by this kind of thing ever again! People should simply come to expect the worst of everyone...And I don't mean hope for the best, and expect the worst, I mean, just expect the worst right out of the gate!
Working for Theranos would have appeared to be cutting edge especially considering the £ and prestige attached to it.
It's hard to blame them. The majority of working people are in a similar situation. Could you choose to drop your income to zero, without hesitation? Knowing that due to your "betrayal" you'd never get another job in your field? Maybe if you don't have a family relying on your support, and have no debt, and have big savings. Very few people fit that situation.
Exactly right. Almost everyone in the company was part of the fraud.
what! the security of a full time job is nothing to laugh at, people have families, children to feed, bills to pay- even the whistleblowers were like looking back i would of told my past self to not do that again- they were dragged through the mud. It’s not easy going to a 0 income and facing harassment and threats esp if you have a family.
The world needs more people like Tyler Shultz.
She learned how to convincing lie, which we see so much of in businesses, corporations and by government representatives today.
It has literally become an epidemic and one that a productive society cannot maintain for much longer.
I’m a pharmacist at Walgreens and I no longer feel guilty if I accidentally drop a few tablets on the floor. This company can obviously afford it.