Theranos: the extraordinary trial of Elizabeth Holmes kicks off
A startuppress with devouring ambition, investors blinded by profit, a toxic work culture and a defective product… This Tuesday begins the long-awaited trial of the fallen star of Silicon Valley, judged for having lied about the performance of its blood testing technology. With a hollow question: how far can you go to “sell” your start-up?
As a way to close the page. It is at the Federal Court of San Jose (California) that the trial of Elizabeth Homes, the entrepreneur behind one of the biggest industrial scandals of the 21st century, begins this Tuesday. Barely half an hour’s drive from Burlingame, where it all began for Theranos, his start-up that has long believed it was going to revolutionize blood analysis. Also in the heart of Silicon Valley, whose drifts are going, in hollow, to be judged over the coming months.
Six years after the revelation of the scandal by the journalist of the “Wall Street Journal”, John Carreyrou, comes the time for justice for Theranos and Elizabeth Holmes. The facts are now well known: resolutely determined to make a name for herself – and a heritage -, the young woman, barely over 20 years old when the company began, has managed to deceive her world by lying about the performance of Edison, his machine supposed to perform blood tests easier and faster than any other.
Theranos’ technology was supposed to allow pharmaceutical companies to have almost immediate feedback on the treatments administered to patients in clinical trials – what to prescribe to measure and, even imagined Elizabeth Holmes, to predict the appearance of tumors thanks to the data. collected and reverse engineering. Charismatic, hard-working, the startuppeuse quickly became a key figure in Silicon Valley, close to Oracle founder Larry Ellison, or counting among her investors Rupert Murdoch, the media mogul (who also owns “Wall Street Journal ”). Theranos, which has raised a total of more than 700 million dollars, for its part reached a valuation of 9 billion at its highest.
Elizabeth Holmes The Promise Was Too Good
The story might have sounded like a fairy tale if Theranos’ technology had been working. But the Edison turned out to be an industrial nightmare – not least because of the demands of Elizabeth Holmes, who insisted that the tests be carried out from a micro-drop of blood – and the start-up is is embedded in lies, to the point of falsifying the results and endangering the lives of patients.
Accused of fraud, the entrepreneur, 37 years old today, will therefore have to respond to prosecutors who accuse her of lying to her investors, pharmaceutical companies (including Pfizer) and patients. It is this fine line that the jurors will have to decide, the selection of which begins today: how far can one go to “sell” one’s start-up?
Because beyond the performances of Theranos, it is also a certain culture of Silicon Valley that this trial questions. That of venture capitalists, sometimes inclined to bet on a personality and the potential for added value without dwelling on the rigor of a project. That also of startuppers, ready to inflict grueling work rhythms on their employees and to cultivate a toxic work environment to maintain their lead over the competition. This is all that will tell the trial of Elizabeth Holmes, who will begin to appear from September 7.
Will the trial of the founder of Theranos be that of Silicon Valley?
Elizabeth Holmes, a fallen star of medical tech, was appearing for massive fraud. His company, founded in 2003, promised to revolutionize blood tests. Valued at several billion dollars, it collapsed in 2015. This lawsuit is also that of a certain start-up culture, explains the Guardian.
“A young business prodigy, a company worth billions of dollars on the stock market and an allegedly revolutionary technology that made pschitt: for many, the meteoric rise and the shattering fall of the medical start-up Theranos must serve as a lesson to a Silicon Valley racing too fast and too hard, ”writes the Guardian.
Elizabeth Holmes’s massive fraud trial, which begins on Tuesday August 31 in the United States, is one of Silicon Valley excesses. However, it is not certain that the “start-up culture has fundamentally changed” south of the San Francisco Bay Area, a major site of American technological innovation, estimates the British daily.
In 2003, when Elizabeth Holmes launched Theranos, she was 19, just graduated from Stanford University, and revolutionized laboratory testing by promising that one drop of blood could perform dozens of tests. A decade later, the $ 10 billion business “collapsed.”
The myth of youth
“The rise and fall of Theranos reflects a very special moment in the history of Silicon Valley,” Margaret O’Mara, a technology historian at the University of Washington, told The Guardian. At the time, the “tech bubble was obsessed” with the youth of start-up creators, praised the success of companies with “humble beginnings”: “Mark Zuckerberg from his dorm room, Jeff Bezos from his garage”.
At the same time, there was a certain frustration due to the frivolity of social networks. Summarized otherwise by industry investor guru Peter Thiel (PayPal, Facebook, Palantir…) in 2013: “We wanted flying cars, we got 140 characters” – the maximum allowed by Twitter at that time.
And Theranos appeared, who aspired to transform nothing less than health. In this world largely dominated by the Bezos, Zuckerberg and Gates.
On 3-2-1984 Elizabeth Holmes (nickname: Elizabeth) was born in Washington, D.C .. The daughter of father Christian Holmes IV and mother Noel Anne Daoust is an economist, anno 2021 famous for CEO of Theranos. Elizabeth Holmes facts & wiki
Elizabeth Holmes Wiki
Where does Elizabeth Holmes live? How Much Money Does Elizabeth Holmes Make?
Date of birth : 3-2-1984
American : origin
Ethnicity White : (Caucasian)
Religion : christianity
Residence : She lives alone in her own house in Palo Alto, California.
Elizabeth Holmes Net Worth, Salary, Cars & Homes
Estimated Fortune 4500 Million Dollar
Annual salary N / A
Famous Brothers Brian Chesky
Houses & Property
Houses : No house
Cars : No car
Elizabeth Holmes: Single, Love, Family and Friends
Who is Elizabeth Holmes dating in 2021?
Relationship Status Single
Sexual orientation Straight
Partner No relationship or unknown
Her ex-boyfriends or men
Pregnancy? She is not pregnant
Will American-born economist Elizabeth Holmes find love in 2021?
Height, Weight, Measurements, Tattoo, Skin, hair and eye color
This cool beautiful talented economist originating from Washington, D.C. has a thin body & oval face type.
hair color: Light blonde
eye color: Light blue
Height : 173 cm
Weight: 58 kilo
Foot / Shoe Size : N / A
Does Elizabeth Holmes smoke? : No never
Does Elizabeth Holmes have a tattoo? : No
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