To get investor funding, Holmes claimed that the world’s 10 largest pharmaceutical companies had validated Theranos’ results.Here are some of the most shocking revelations of the trial: Holmes’ trial began in September 2021 and prosecutors and witnesses exposed her as a fraud. In 2016, the SEC slapped Holmes and her ex-boyfriend and Theranos COO Sunny Balwani with 11 felony counts for fraud against investors and patients. Soon after, Walgreens sued Theranos for $140 million dollars for misleading them about the capabilities of the technology. Holmes’ misdeeds caught public attention when WSJ reporter John Carreyrou published a series of reports exposing her lies and flawed blood test results. She even convinced high-profilers like Oracle founder Larry Ellison and pharmacy leader Walgreens to invest in her startup, raising over $700 million without ever disclosing how her technology worked. She appointed luminaries like former Secretary of State Henry Kissinger and ex-director of CDC William Foege to her board of directors and landed contracts with industry giants like Pfizer and Safeway. Her pedigreed background helped link Theranos with some of the biggest names in America.
Holmes was a descendant of the family that founded America’s first yeast company and was also the daughter of a former Enron VP and congressional aide. With Theranos, Holmes promised to eliminate needles from the blood testing process, claiming that her “proprietary” machine called the “Edison” could deliver cheaper and faster results for over 240 diseases with a single pin-prick and a drop of blood. At 19, she dropped out of Stanford to work on her “revolutionary” blood-testing startup called Theranos. Holmes had a childhood dream of becoming a billionaire. Here’s the background on Holmes’ story, what she and Balwani are doing today, and what the future could hold. A recent Hulu series, The Dropout, has led to more interest in Holmes, her relationship with former COO Sunny Balwani, and where she is today. In 2022, she’s making headlines again ––but for all the wrong reasons.
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