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Theranos Inc.
Industry Healthcare
Headquarters Palo Alto, California, USA
Founder Elizabeth Holmes
Founded 2003
Company type For profit
Year Closed 2018
Peak worth $9 billion[1]
Footnotes/references

[2]

Theranos was a privately held corporation that was supposed to be on the cutting edge of the health technology industry. The company, founded by Elizabeth Holmes in 2003, was originally known as Real-Time Cures. Throughout its lifetime, the company was able to raise more than USD$700 million from private equity and venture capital investors. Theranos was able to do this through the promise of creating a revolutionary blood test machine, named "Edison". It was supposed to be a wearable device made to measure and assess a patient's blood, as well as be responsible for drug delivery, adjusting dosages as needed.[3] More specifically, the machine was supposed to run many immunoassay blood tests with a single drop of blood, searching for the presence of an antibody or antigen in a patient's blood .[4]These claims were drastic, but Holmes, the brains and face of the scandal, was able to use her seemingly powerful position to become beloved by the media, and have control over her own, and Theranos's story. Additionally, the company was able to secure funding without having to specify exactly how the technology worked, and Holmes had the final say over everything having to do with the company.[3] At the height of the scandal, she was even named Glamour's "Woman of the Year" [3], and dubbed "the next Steve Jobs" .[5] Her demeanour and social media presence helped propel Theranos to its peak valuation of USD$9 billion dollars around 2015.

The claims made by Theranos and Holmes turned out to be grossly over-exaggerated, with whistleblower employees eventually making serious allegations about the company's integrity. Former employees outlined management's ineptitude, and stated that a significant portion of its tests that were claimed to have been conducted using its proprietary technology were actually conducted using competitors' technology .[6] Further allegations of the Edison's inability also came to light, with customers eventually coming out and alleging that the Edison machine provided false medical results. [7]The house of cards that once was Theranos eventually began to crumble, and the facade that Holmes had been perpetuating unto the biotech industry fell apart swiftly, once media outlets like the Wall Street Journal turned the tides and published critical reports regarding Theranos's capability.

All in all, this was a serious corporate governance failure that resulted in stakeholders suffering the consequences of inadequate social and ethical responsibility.

Timeline

2003 - Birth of Theranos

Theranos was founded by Elizabeth Holmes, who was 19 years old at the time. The business idea of Theranos was to develop a blood testing technology which takes only a drop of blood from the patient and analyzes the sample in the company developed mini-laboratory device.[8] Ultimately, Theranos's goal was to make blood tests cheaper, more efficient, and more convenient to consumers.[9]

2004 to 2014 - "Working" in the Dark

Under its business model, Theranos attracted numerous investors, secured over $400 million USD of funding, and increased its valuation from $30 million in 2004 to nearly $9 billion at the end of 2014. Between this time, Theranos also established partnerships with major healthcare providers to deliver Theranos blood test technologies to their locations, including Safeway's $350 million partnership in 2012[10] and Walgreens partnership in 2013[11]. However, Holmes refused to disclose further details on how Theranos' blood testing technology functioned, disregarding investors that raised concerns on progress and profitability.[6]

2015 - Exposure

In February 2015, Stanford professor John Ioannidis attempted to raise concerns on Theranos in the Journal of the American Medical Association, stating that Theranos had not published any peer-reviewed medical research literature despite a decade of "working in the dark".[12] A few months after Theranos reached its peak $9 billion USD valuation, Theranos' downfall began with two criticizing articles published by Wall Street Journal in October 2015. In these articles, the author John Carreyrou reported that Theranos' blood testing devices, Edison, may yield inaccurate results; and that instead of using its Edison devices to run the its tests, Theranos had been using traditional blood testing machines.[13]

2016 to 2018 - Failure and Dissolution

Theranos' few attempts to suppress public concerns and erase doubts on its technologies from the Internet triggered investigations from regulatory bodies. In 2016, after an investigation on Theranos' lab, the Centers of Medicare and Medicaid Services (CMS) revoked Theranos' license to operate its lab and banned Holmes from the lab industry for two years.[14] In April 2016, the the US Securities and Exchange Commission (SEC) and federal prosecutors launched a criminal investigation against Theranos for allegedly misleading investors and the government with false disclosure on its technology.[15] The SEC indicted Theranos, Holmes, and former president Ramesh "Sunny" Balwani with the accusation of "massive fraud", forcing the company to shut down its doors for good, with Theranos being dissolved on September 4, 2018.[16][17]

2018 - 2023 - Lawsuits

As mentioned, the key players involved in the scandal have been engulfed in lawsuit trouble ever since their indictments in 2018. The co-perpetraror, Ramesh "Sunny" Balwani, was originally going to be tried alongside Holmes, but the two had their trials separated due to accusations of abuse coming from Holmes. The main perpetrator, Elizabeth Holmes, has seen her trial be pushed back multiple times for various reasons. In 2020, the COVID-19 pandemic hit, forcing Holmes' trial to be delayed from July 2020 to July 2021[18]. Then, in March 2021, news surfaced of Holmes expecting her first child, which further delayed the court case, from July 2021 to August 2021. Finally, in August, her trial began to proceed, and she was eventually found guilty on four of the eleven charges she had against her[18]. Ramesh's trial began after Holmes's ended, and he ended up being found guilty of all twelve counts against him[18]. Both perpetrators have appealed their sentences of 11 years in prison. This proceeding is still ongoing as of March 26th, 2023.

Information Retrieved from Timeline Citations Above

Key Players in the Rise of Theranos

Elizabeth Holmes in 2014

Elizabeth Holmes

Elizabeth Holmes was the founder and chief executive officer (CEO) of Theranos until its eventual collapse. She was the face of Theranos and intentionally contributed to deceiving the public of the validity of Theranos' technology to increase her company's financial value.[19]

When she was young, Holmes expressed her desire "to discover something new, something that mankind didn’t know was possible to do" in a letter she wrote to her father. She kept a notebook with blueprints of her invention designs and was an avid reader. Throughout high school, Holmes studied Mandarin at a university level and consistently proved herself academically.[20] Alongside her academic studies in high school, Holmes sold coding translation software to Chinese universities, proving her entrepreneurial abilities.[21]

In 2002, Holmes began studying chemical engineering at Stanford University. Later that year, she enrolled in a summer internship in Singapore to conduct research and testing for severe acute respiratory syndrome (SARS) which led her to eventually patent a device in 2004 that would be able to automatically administer medication to patients as needed.[20][22] Holmes dropped out of university in 2003, when she was 19 years-old, to focus full-time on her new start-up company, Theranos.[20]

Holmes portrayed herself as a go getter and a girl boss.[23] Holmes was often compared to Steve Jobs, another university dropout of the Silicon Valley, for her passion and drive to launch a revolutionary company and even for her signature black turtleneck.[24] Although even before Theranos began to collapse, Holmes was critiqued for her apparent voice change, from a high-pitched voice to a baritone and more serious tone.[25] Many speculated that Holmes adopted this lower voice in public to establish authority and to appear more credible; to offset the adversity she faced being a young woman entrepreneur.[25]

Throughout her rise to fame, Holmes spoke on various shows and appeared in many publications. In her TEDMED talk in 2014, Holmes sold the idea that “getting a blood test should instead be a “wonderful” experience, and the aim of Theranos is to lower the barriers.”[20] Holmes was featured in Fortune Magazine’s June 2014 cover story “This CEO is Out for Blood,” in which Holmes falsely attested to the accomplishments of Theranos’ technology, which grew her support base tremendously.[26] In this story, Holmes also concealed the methods of the technology by stating that it was a trade secret to protect the company from competitors.[27] In its June 2015 cover story, Forbes magazine named Elizabeth Holmes the world’s youngest self-made woman billionaire with a net worth of $4.5 billion, based on her approximate 50% share in Theranos, which had a net worth of $9 billion.[28] Following the exposure of potentially fraudulent activity within Theranos, Forbes revised Holmes’s net worth to $0 in June of 2016.[29]

With her growing credibility, Holmes became extraordinarily skilled at convincing potential investors of the validity of her company’s accomplishments despite keeping her practices a secret.[27] Upon being discredited by Tyler Shultz, a former employee of Theranos, Holmes defended herself on Mad Money with Jim Cramer and stating that “this is what happens when you work to change things and first, they think you’re crazy, then they fight you and then all of a sudden you change the world.”[19] Amidst investigations and lawsuits, Holmes has continued to persistently defend herself and Theranos.[30] See US v. Elizabeth Holmes for the current status of her case.

Channing Robertson

Channing Robertson was a chemical engineering professor at Stanford University from 1970 to 2012.[31] In 2002, Robertson taught Holmes and encouraged her to launch Theranos. To help Holmes achieve her mission, Robertson provided consulting for the company and also recruited Ian Gibbons to the company. Robertson became a board member in 2012 upon retiring from Stanford and became the co-leader of the technology advisory board of Theranos in 2017.[32] According to Reed Kathrein, an attorney representing many investors impacted by the scandal, Theranos hired Robertson exclusively to add credibility to the company and paid him $500,000 per year, a higher salary than any other employee of the company.[33] During the investigation of Theranos, Robertson provided continued support for Holmes and stated that “he was still a believer in the company.”[33] Robertson has formally retired, but continues to teach as an emeritus professor at Stanford.[31]

Ian Gibbons

Ian Gibbons, biochemist of Cambridge University, became the chief scientist at Theranos in 2005.[34] In this role, he contributed to and oversaw research of the company’s blood-testing technology.[35] Throughout his time at Theranos, Gibbons contributed to 23 patents for the company.[36] Gibbons uncovered the technology’s unfeasibility; however, to keep his job, he continued to contribute to the research of the company knowing that the claims were impossible to fulfil.[35]

In early 2013, Gibbons raised concerns about the lack of truth in the company’s claims to Channing Robertson which resulted in him getting fired and then rehired in an inferior position. Later that year, Gibbons was called to testify against the accuracy of the company’s blood tests.[35] His wife states that Gibbons was afraid that he would be fired if he told the truth about the veracity of Theranos’ technology.[37] The day prior to his testimony, Gibbons ingested a fatal dose of Acetaminophen and died of liver failure eight days later.[37]

George Shultz during his role as U.S. Secretary of State

George Shultz

George Shultz held various influential roles in the U.S. while representing the Republican political party, notably acting as the U.S. Secretary of State from 1982 to 1989.[38] He became a board member at Theranos in 2011.[39] Through his connections in the political landscape, Shultz recruited a strong team to join Theranos’ board, including other influential political leaders and the CEO of Wells Fargo.[40] In 2013, Shultz also recruited his grandson to the company, Tyler Shultz, who later became a whistleblower of the scandal.[41] Shultz left his role at Theranos in 2015 when the company replaced its board of directors.[42]

Ramesh "Sunny" Balwani

Ramesh Balwani, sometimes referred as "Sunny" was the Chief Operating Officer (COO) of Theranos from 2009 to 2016 when he was fired by Elizabeth Holmes.[43] Balwani was born in Pakistan on June 13, 1965 and immigrated to the United States in 1986[44] to attend the University of Texas in Austin, earning a bachelor degree in Information Systems[45]. He began his career as a sales manager for Microsoft, followed by joining a start up company, Commerce Bid, in October 1999 which was later acquired by Commerce One a year later and was promoted to vice president.[46] Close to a year later, Balwani sold his shares in the company for close to $90 million and resigned in January 2001, followed by Commerce One declaring bankruptcy in 2004.[46] It is reported he pursued his Masters of Business Administration at the University of California, Berkeley in 2003 and Stanford University for a computer science degree, the latter where he met Elizabeth Holmes.[46] In 2008, prior to Balwani joining Theranos, he invested $13 million dollars into the company and he became the president and COO six months later.[47] While Holmes was the face of the operations at Theranos, Balwani had the responsibilities of everyday operations and overseeing the lab.[1]

David Boies in 2011

David Boies

David Boies is an extremely accomplished U.S. lawyer at the Boies, Schiller & Flexner litigation firm with an hourly rate of $1,850 USD.[48] In 2011, he began representing Holmes and Theranos against claims challenging the veracity of the company’s technology and operations.[49] Boies aggressively protected Theranos by intimidating and threatening whistleblowers.[48] While acting as the company’s lawyer, Boies also joined the company’s board of directors in 2015.[50] As both, lawyer and board member of the company, Boies had a duty to act in the best interest of the company and its shareholders, which presented an ethical dilemma due to his conflict of interest.[50] In 2016, Boies ceased his role defending the company, stating that Theranos was not taking his advice on legal strategy to manage investigations in the company's technology.[49] Not long after, he left the board of directors.[48] Boies, Schiller & Flexner's reputation was greatly impacted by Boies’s commitment in the Holmes case which resulted in his firm losing many of its competent lawyers.[51]

Key Players in the Downfall of Theranos

Tyler Shultz

In 2013, Tyler Shultz graduated from Stanford University with a Bachelor of Science degree in Biology and was recruited as a research engineer at Theranos by his grandfather, George Shultz.[41][52] Not long after joining the company, Shultz noticed issues in the operations and technology of Theranos. Before contacting external sources to expose Theranos, Shultz first approached his grandfather, who did not believe his assertion regarding the phoney claims about the company’s technology.[53] He then took up his concerns directly with Holmes in an email. Holmes forwarded his email to Balwani, who responded to his concerns by insulting Shultz's character and technical skills and stating that he would have been harshly punished had it not been for his relationship with George Shultz.[19][54]

Shultz proceeded to anonymously alert the New York state regulators of the company's misconduct[55] and provide John Carreyrou of the Wall Street Journal with information to expose the fraudulent activity at Theranos, becoming the first whistleblower of this case.[56] He described the operations of Theranos as dishonest, stating that "it was clear that there was an open secret within Theranos that this technology simply didn't exist."[53]Shultz resigned from the company only 8 months after joining on full time.[56] [57]

Following his exposé and resignation, Shultz was a victim of serious intimidation and legal threats from Holmes’s lawyers.[56][53] More recently, Shultz has been praised by his courage to speak out and has gone on to co-found Flux Biosciences and Healthyr, two healthcare-based companies. [58][59]

John Carreyrou

John Carreyrou is an accomplished reporter, receiving several awards for his coverage on Theranos including the George Polk Award for Financial Reporting.[60] In 2015, Carreyrou received a tip from Tyler Schultz exposing fraudulent activity within Theranos which kickstarted his investigation and publications.[56][61] In his book "Bad Blood: Secrets and Lies in a Silicon Valley Startup" and podcast "Bad Blood: The Final Chapter", Carreyrou discusses the story of the Theranos scandal and the challenges he faced along the way.[62][63] Due to his interest in the company, he received backlash from Theranos employees and attempts to discredit him through lawsuits.[61]

Key Stakeholders

Investors

Numerous investors, whether they are high-net-worth individuals or medical service providers seeking a partnership, were deceived by Holmes and suffered significant losses from their investment in Theranos.

Individual investors who suffered major monetary losses include:[64]

  • The Walton Family, who owns the retailing giant Walmart, invested $150 million in Theranos.
  • Rupert Murdoch, owner of multiple media such as Fox News and The Wall Street Journal, invested around $125 million in Theranos.
  • The DeVos Family, who runs the multi-level marketing company Amway, invested $100 million in Theranos.

Two major partnership losses include:

  • Walgreens, who invested $140 million and committed over 40 stores to provide Theranos blood testing, was only able to retrieve $30 million from its lawsuit against Theranos.[65]
  • Similar to Walgreens, Safeway entered into a $350 million partnership with Theranos. Despite Safeway’s effort to introduce Theranos’ blood testing in over 800 of its stores, the deal collapsed since Theranos did not meet the deadlines.[10]  

The aftermath for Theranos’ Partners goes beyond monetary losses, as the partnering companies have also bidded their reputation onto their partnership contract. With their customers getting false diagnosis[10] or not being provided the blood test at all, both Walgreens and Safeway faced loss in customer satisfaction and loyalty.

Customers

There were multiple cases of consumers of the self-administered sample kit receiving a false diagnosis as a result of Theranos's defective product. In many situations the ramifications of the inaccurate results caused a financial burden, undue stress and may cause a decreased trust between consumers and healthcare providers.[66][67]

  • A woman was falsely diagnosed with Hashimoto’s disease, resulting in increased costs for appointments and medication.[66]
  • A 60 year old patient that had double mastectomy due to treatment for breast cancer was referred to get a blood test done and used for Theranos’s product. The test inaccurately showed an unusually high level of estrogen, indicating the possibility for an adrenal tumor causing distress for a cancer survivor.[67]
  • A patient who got tested annually to monitor his thyroid hormones due to a previous diagnosis reported the Edison test produced an incorrect result showing an alarmingly high level of hormones indicative of hyperthyroidism. The patient received the corrected results roughly a year and half later.[67]

Employees

Through a series of TikTok videos, Leona Marlene, a former executive assistant to Holmes and Balwani, provided an inside scoop regarding what it was like to work at Theranos. Simply put, it was seemingly not pleasant. In these videos, Ms. Marlene describes a corporate culture that had undertones of fear, misdirection, and an overall toxicity that was suppressed by the power and presence of Holmes and Balwani. A workplace that was full of paranoia and secrecy, and never knowing what might occur day to day, impacted employees who gave their blood, sweat and tears to try and deliver on promises made to the corporate giants they dealt with.[68]

Other employees have corroborated this description of Theranos’s corporate culture, with former customer service manager Micah Nies claiming “there was always something fishy or peculiar going on".[69]

Former employees have felt the effects of associating with the Theranos name on their resume. These people struggled to find or keep new jobs due to the association, or were hesitant due to the lasting impacts of being mistreated by a management team that they were supposed to be able to trust.[70]

Employees were also wishing to remain silent in fear of retaliation from the two previously prominent figures, Holmes and Balwani. Before the trial, employees described that they were “anxious for it to be over”, regarding if they had to be called to the stand.[69]

Theranos's mistreatment of employees has left some scarred, and others’ career paths in shambles.

Lawsuits

Walgreens v. Theranos

Walgreens severed relations with Theranos in June 2016, followed by suing for $140 million to recover their investment in November 2016.[71][72] The chief complaint from the pharmacy chain was for breach of contract, claiming Theranos had deceived them about the capabilities of their product.[72] It was announced in August 2017 that the lawsuit was settled with a conclusion of "no finding or implication of liability"[73], however the company had to pay an undisclosed amount reported as "less than $30 million".[74]

Arizona Attorney General Mark Brnovich v. Theranos

The state of Arizona acted as a testing grounds for Theranos's product with roughly 176,000 customers using the company's tests between 2013-2016, Arizonas Attorney General Mark Brnovich sought legal action in 2016 for violations to the Arizona Consumer Fraud act.[75] The allegations were that "Theranos's advertisements misrepresented the method, accuracy and reliability of the blood testing".[76]In April 2017 Theranos was required to pay $4.65 million in consumer restitution, $200,000 in civil penalties and $25,000 in attorneys' fees, the Attorney General stated each customer will receive a refund from the settlement.[77]

Partner Fund Management v. Theranos

One of Theranos's major investors and hedge fund firm, Partner Fund Management, filed a lawsuit against the company in October 2016 in order to recover their investment of $96.6 million.[78] The firm claimed they were deceived "through lies, material misstatements and omissions" by the company and owners to invest.[79] Theranos denied all allegations against them and the case settled in May 2017, the outcome remaining confidential.[80]

Security and Exchange Commission (SEC) v. Elizabeth Holmes, Ramesh Balwani and Theranos

In March 2018, Elizabeth Holmes, Ramesh Balwani and Theranos were charged by the SEC with engaging in fraudulent activity spanning over multiple years, for making inaccurate and misleading statements to investors about the efficacy of their product.[81] The SEC claims the deceit resulted in raising over $700 million from investors.[82] All parties were charged for violating: Section 17(a) of the Securities Act of 1933, which states it is "unlawful to "employ any device, scheme, or artifice to defraud", "obtain money or property" by using material misstatements or omissions, or to "engage in any transaction, practice, or course of business which operates or would operate as a fraud or deceit upon the purchaser."[83]; Section 10(b) of the Securities Exchange Act of 1934, prohibiting fraud in the purchase or sale of securities[84]; and the Securities and Exchange Commission Rule 10(b)-5, containing a "general, catch-all, anti-fraud provision of the federal securities laws"[84].[81] Additionally, Balwani was charged with aiding and abetting Holmes and Theranos in violating the provisions.[81] Theranos and Holmes settled with the SEC, without an admission of guilt or denial, and was required to pay a $500,000 fine, step down as CEO and not hold a position as an officer or director for 10 years, and relinquish $18.9 million worth of stock.[85] Balwani did not settle and the case remains unresolved as of December 2022.[82][86]

US v. Elizabeth Holmes

On June 14, 2018, Holmes and Balwani were indicted by a Federal Grand Jury on two counts of conspiracy to commit wire fraud and nine counts of wire fraud, violating statutes 18 U.S.C. § 1349 and 8 U.S.C. § 1343.[87] This was followed by second indictment in early July 2020 which removed a charge related to a patients blood test, but was shortly reinstated through a third indictment at the end of the month for a total of 12 counts of fraud, both parties facing 20 years in prison with $250,000 fine for each charge.[88] Holmes plead not guilty to the charges, but stepped down as CEO of Theranos immediately following the indictment in 2018.[89] The trial was set for July 2020, however it was rescheduled twice, once to July 2021 due to the COVID-19 pandemic and again to August 2021 as Holmes was due to give birth.[90] The trial continued for almost four months, ending in December 2021.[91]

She was found guilty on four charges which included: conspiracy to commit wire fraud against Theranos investors, wire fraud in 2014 connected to an investment of nearly $39 million from PFM Health Sciences where they were misled on the amount of revenue Theranos brought in, wire fraud in 2014 for an investment of almost $100 million where they received false assurance that Pfizer had approved their technology, and wire fraud in connection with another investor in 2014 of nearly $6 million for the reason previously mentioned charge.[92] Holmes was acquitted on four of eight of the charges, one for conspiracy to commit wire fraud against Theranos patients and three for wire fraud against patients; the remaining four charges were three no verdict for wire fraud pertaining to other investors and one charge was dropped.[92]

Following Holmes conviction at the end of 2021, her lawyers pleaded with the court for her acquittal arguing there was insufficient evidence, after the judge denied that request Holmes filed three motions for a new trial: one that focused on the testimony of Theranos's lab director Adam Rosendorff, another for depicting Holmes's and Balwani's relationship differently in their trials, and lastly for claiming prosecutors denied access to emails that would help in her defense, all three motions were denied.[93] On November 18, 2022, Holmes was sentenced to 11.25 years in prison with 3 years probation[93], two weeks later Holmes filed to appeal the judges ruling as well as asking to stay out of prison pending appeal[94]. The grounds for appeal claimed Judge Edward Davila made errors in allowing the jury to hear about regulatory action and voiding of test results regarding Theranos.[95] On March 17, 2023, Holmes had a court hearing to decide on restitution and make her case to postpone going to prison until her appeal is resolved.[96] Holmes defense for postponing prison cities she is not flight risk due to the birth of her second child, the hearing ended without a decision and Holmes is set to surrender into custody on April 27th, 2023, pending the judges determination in early April 2023.[97]

US v. Ramesh Balwani

Holmes and Balwani were initially going to be tried together, however a judge separated the trials in March 2020 after Holmes accused Balwani of emotional and sexual abuse throughout their relationship.[98] Balwani's trial began on March 23, 2022, he was facing the same charges Holmes faced in her trial.[99] The trial concluded in July 2022, Balwani was convicted on all 12 charges, ten counts of wire fraud and two counts of conspiracy to commit fraud.[100] On December 7, 2020, he was sentenced to 13 years in prison which was less than the 15 years prosecutors recommended.[101]

Balwani filed an appeal on December 20, 2022, the appeal targets rulings and decisions adverse to the defendant made by Judge Edward Davila.[102] His lawyers filed a motion to delay his prison term until his appeal was resolved, however it was denied.[103]He was set to surrender on March 15, 2023 while out on bail, however his lawyers filed a notice last minute appeal on the ruling to delay his prison term shortly before it was set to begin.[104] The court date to determine restitution is still to be decided, but prosecutors are seeking $900 million between both parties.[103]

Patients Class Action

There is a pending class action lawsuit against defendants: Elizabeth Holmes, Ramesh Balwani, Theranos, Walgreens Boot Alliance, Inc., and Walgreen Arizona Drug Company. The lawsuit was announced by JND Legal Administration in July, 2022, claims the blood testing services were ineffective in producing results, the defendants obscured the results and conspired to commit fraud, and customers gave consent under false pretences.The trial is expected to be schedule and occur in 2023.[105]

Media Adaptations

Title Type Author/Director Release Producer/Publisher Notable Cast Reference
Billion Dollar Facade: The Rise And Fall Of Theranos And Elizabeth Holmes Book Paul C. Senior June 5, 2019 Amazon Digital Services n/a [106]
Bad Blood: Secrets and Lies in a Silicon Valley Startup Book John Carreyrou May 21, 2018 Knopf n/a [63]
The Inventor: Out for Blood in Silicon Valley Documentary Alex Gibney March 18, 2019 HBO Alex Gibney and Elizabeth Holmes [107]
The Dropout TV Show Elizabeth Meriwether March 3, 2022 20th Century Amanda Seyfried, Naveen Andrews, and Michael Gill [108]
Bad Blood: The Final Chapter Podcast John Carreyou August 26, 2021 Three Uncanny Four John Carreyou and Elizabeth Holmes [109]
The Dropout Podcast Rebecca Jarvis January 22, 2019 ABC Audio; ABC News Rebecca Jarvis and Elizabeth Holmes [110]

References

  1. ↑ 1.0 1.1 Sandercock, Henry (July 8, 2022). "Sunny Balwani: who is Elizabeth Holmes' ex-boyfriend and why is he guilty of fraud - Theranos trial explained". National World. Retrieved March 19, 2023.
  2. ↑ "Theranos". Tech Crunch. Retrieved March 16, 2023. |first= missing |last= (help)
  3. ↑ 3.0 3.1 3.2 Hartmans, Jackson, Haroun, Avery, Sarah, Azmi (January 20, 2023). "The rise and fall of Elizabeth Holmes, the former Theranos CEO found guilty of wire fraud and conspiracy who is now trying to delay her prison sentence after having her second child".CS1 maint: multiple names: authors list (link)
  4. ↑ Stieg, Cory (March 12, 2019). "What Exactly Was The Theranos Edison Machine Supposed To Do?".
  5. ↑ Neate, Rupert (January 4th, 2022). "Elizabeth Holmes: from 'next Steve Jobs' to convicted fraudster". Check date values in: |date= (help)
  6. ↑ 6.0 6.1 Tun, Zaw Thiha (January 4, 2022). "Theranos: A Fallen Unicorn".
  7. ↑ Baty, Emma (March 3, 2022). "'The Dropout' Fact Check: Did Theranos Give People Faulty Medical Test Results?".
  8. ↑ EQS Editorial Team (November 21, 2022). "Elizabeth Holmes and the Theranos Case: History of a Fraud Scandal". Integrity Line. Retrieved March 10, 2023.
  9. ↑ Leuty, Ron (August 30, 2013). "Theranos: The biggest biotech you've never heard of". San Francisco Business Times. Retrieved March 10, 2023.
  10. ↑ 10.0 10.1 10.2 Wasserman, Emily (November 11, 2015). "Safeway severs ties with Theranos as $350M deal collapses". Fierce Biotech. Retrieved March 10, 2023.
  11. ↑ Moon, Mariella (November 18, 2014). "Walgreens to offer affordable and needle-free blood tests in more stores (updated)". engadget. Retrieved March 10, 2023.
  12. ↑ Ioannidis, John (2015). [doi:10.1001/jama.2014.17662 "Stealth Research: Is Biomedical Innovation Happening Outside the Peer-Reviewed Literature?"] Check |url= value (help). JAMA: The Journal of the American Medical Association. 313 (7): 663–664.
  13. ↑ Carreyrou, John (October 16, 2015). "Hot Startup Theranos Has Struggled With Its Blood-Test Technology". The Wall Street Journal. Retrieved March 18, 2023.
  14. ↑ Abelson, Reed; Pollack, Andrew (April 13, 2016). "Theranos Under Fire as U.S. Threatens Crippling Sanctions". The New York Times. Retrieved March 18, 2023.
  15. ↑ "Don't Blame Silicon Valley for Theranos". The New York Times. April 27, 2016. Retrieved March 18, 2023.
  16. ↑ Robinson, Matt (March 14, 2018). "Theranos and CEO Elizabeth Homes Accused of Fraud by SEC". Bloomberg News. Retrieved March 18, 2023.
  17. ↑ Carreyrou, John (September 5, 2018). "Blood-Testing Firm Theranos to Dissolve". The Wall Street Journal. Retrieved March 18, 2023.
  18. ↑ 18.0 18.1 18.2 Ashley O'Brien, Sara (November 17, 2022). "The rise and fall of Elizabeth Holmes: A timeline".
  19. ↑ 19.0 19.1 19.2 O'Donnell, Norah (May 20, 2018). "The Theranos deception". CBS News. Retrieved March 23, 2023.
  20. ↑ 20.0 20.1 20.2 20.3 Auletta, Ken (December 8, 2014). "Blood Simpler". The New Yorker.
  21. ↑ "Elizabeth Holmes Biography". Biography.com. June 19, 2018. Retrieved March 23, 2023.
  22. ↑ Thomas, Daniel (November 19, 2022). "Theranos scandal: Who is Elizabeth Holmes and why was she on trial?". BBC News. Retrieved March 23, 2023.
  23. ↑ Coughlin, Anne (October 12, 2021). "The fall of the 'girlboss': Feminism and the public trial of Elizabeth Holmes". WBUR. Retrieved March 24, 2023.
  24. ↑ ABC News. (2019, January 24). How Elizabeth Holmes sold the idea of Theranos to employees, investors: Nightline Part 1/2 [Video]. YouTube. https://www.youtube.com/watch?v=87SWZ0Pna8k
  25. ↑ 25.0 25.1 O'Donald, Henry (October 29, 2022). "When Did Elizabeth Holmes Change Her Voice". Hearinnh. Retrieved March 23, 2023.
  26. ↑ Parloff, Roger (June 12, 2014). "This CEO is out for blood". Fortune. Retrieved March 23, 2023.
  27. ↑ 27.0 27.1 Dunn, Taylor; Thompson, Victoria; Jarvis, Rebecca (March 12, 2019). "Ex-Theranos employees describe culture of secrecy at Elizabeth Holmes' startup: 'The Dropout' podcast ep. 1". ABC News. Retrieved March 24, 2023.
  28. ↑ America’s Richest Self-Made Women. (cover story). (2015). Forbes, 195(8), 84–93.
  29. ↑ "Elizabeth Holmes". Forbes. 2023. Retrieved March 23, 2023.
  30. ↑ Talbert, Sabrina (March 21, 2023). "Where Is Theranos Founder Elizabeth Holmes Now? Her Sentencing, New Baby, And Prison Delay Request". Women's Health. Retrieved March 25, 2023.
  31. ↑ 31.0 31.1 Stanford University (May 1, 2019). "Channing Robertson". Chemical Engineering. Retrieved March 23, 2023.
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