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Who is Elizabeth Holmes?



If you like real crime stories – who doesn't? – Delete your schedule because two starters and fall documentaries for Elizabeth Holmes and her Silicon Valley startup company, Theranos, will be premiered very soon.

Before looking at the documentaries, get back the story of Holmes and her multi-billion dollar company. Learn exactly how she and her company were being charged.

Who is Elizabeth Holmes?

Holmes was once described as "the next Steve Jobs." Now she faces 20 years of imprisonment for fraud.

But we come before ourselves. Let's go back to 2003 when this story began.

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

Holmes dropped out of Stanford University in 2003 to start the start-up company Theranos. The company claimed that it could offer more effective and comprehensive blood tests for all types of ailments – cholesterol, cancer and diabetes etc. – without people having to visit a doctor's office.

With the fingertips, these comprehensive tests could be done, no vials of blood or visits to a doctor's office are required.

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

In 2016, Holmes was pat and her billions gone.

Technology does not meet requirements

In 2014, employees began to leave Theranos. Come to find out, the Edison technology that the company said was the key to getting extensive tests with a finger stick was not as comprehensive as they thought. The company had to use traditional laboratories until they realized how to make Edison technology work the way they claimed it would.

This led the Federal Drug Administration to reassess Therano's right to run blood tests for two years after using a "cloudy medical device". Then followed a scam of the Securities and Exchange Commission. Holme's net value was $ 0 when the value of Theranos fell.

Accusation

In June 2018, Holmes and former president and COO of Theranos, Ramesh "Sunny" Balwani, were accused of nine counts of fraud and two conspiracies to commit fraud from the US District District Attorney for California. .

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

Both can face up to 20 years in prison and significant fines if convicted.

& # 39; Dropout & # 39; documentary

Rebecca Jarvis, ABC's Business, Technology and Finance News Manager, and producers spent three years investigating Holmes and Theranos, according to ABC News. The Documentary Film, Dropout will be featured in a two-hour episode of [20459014] 20/20 .

In the documentary film, viewers get Holmes to testify in unpublished tapes where she says "I don't know" more than 600 times. There are also six podcast episodes to accompany the documentary.

HBO Documentary

HBO also has a documentary about Holmes and her company named Inventor: Out for Blood in Silicon Valley . The documentary film is set to premiere on Monday, March 18, 2019 at 9 am. on HBO Go and HBO now.

Second Coverage

Along with the 20/20 and HBO documentaries, there is a book about Holme's billionaire case for possible efforts called Bad Blood: Secrets and is in a Silicon Valley startup by John Carreyrou.


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