‘The Dropout’ Part 4: Theranos wins huge backing, rises in value to $9 billion by 2014

WATCH THE FULL EPISODE OF 20/20: https://bit.ly/2HCTEUE

Elizabeth Holmes’ partner and Theranos COO Sunny Balwani said he gave the company a $13 million personal loan and Theranos cut a multimillion deal with Walgreens.

READ MORE: https://abcn.ws/2AWxmcA
Ex-Theranos employees describe culture of secrecy at Elizabeth Holmes’ startup: ‘The Dropout’ podcast ep. 1

Not so long ago, Elizabeth Holmes was Silicon Valley’s rising star. Like so many of the most successful entrepreneurs before her, she dropped out of college to start a company. But unlike many others, her startup would go on to be valued at almost $10 billion making her the world’s youngest self-made female billionaire.

The company was called Theranos, a combination of the words “therapy” and “diagnosis.” It was praised for being revolutionary and for creating a breakthrough that would change the medical industry forever.

Her board of directors was a who’s who of government heavyweights that at a time included former Secretaries of State George Shultz and Henry Kissinger, former Secretaries of Defense Gen. James Mattis and William Perry and former U.S. Senators Bill Frist and Sam Nunn.

Investments came from some of the wealthiest and most connected people in the world, like media mogul Rupert Murdoch, the Walton family, the DeVos family and even the Kraft family behind the New England Patriots.

But it all came crashing down. Today, Holmes is facing up to 20 years in prison and awaiting a criminal trial for charges of wire fraud and conspiracy to commit wire fraud, to which she has pleaded not guilty.


Author: avn bot


49 thoughts on “‘The Dropout’ Part 4: Theranos wins huge backing, rises in value to $9 billion by 2014

  1. It's funny. I have a working product with an enterprise SaaS company that has broken even, real customers, global potential and the most funding I have ever gotten is $200K. But then people with, ideas, basically, just a concept, can get cut million and even billion dollar cheques, without any sweat. How does that work? Venture capital is broken. Something isn't right. It's not merit driven.

  2. Now she is in the spotlight as her trial is going on. Her machine was as fake as her blonde hair. Another thing is that the men on her board, men who are supposedly brilliant and admirable men, were easily duped by this fake blonde, blue eyed fraudulent, pathetic excuse for a human being. These men are idiots for easily falling for this monstrosity of a creature.

  3. Sorry but Americans are so taken up by good looks they forget to look deeper.The minute I saw her and listened to her you could see her fakeness.I think easterners are better at judging character as you can see Jack Ma totally UNIMPRESSED.

  4. Back in the day when we saw Holmes we immediately knew that theranos has nothing but only fake technology and everything about it was faked. I mean lots of people knew it. But suckers outweigh the people who knew those. Look at jack ma’s reaction when Clinton showered Holmes with accolades. Its priceless🤣🤣🤣🤣🤣

  5. EXPOSE THESE BAD AND EVIL men and women in the corporate ladder and r&d IN PHARMACEUTICALS and formulations and MEDICAL DEVICES AND MEDICINES/DRUGS!!!!! Enough is enough. And how many unassuming job applicants, interns and young students also fall prey on these vultures. UNETHICAL FRAUDS

  6. Investigate how Sunni got approved with a loan like that and who are his creditors and who backed this up….. you will be surprised. NOT. Indians, Pakistanis, afghans middle eastern Muslims etc. sorry but had to say it. They don’t even follow GMPs in drug formulations and they hated us when my professors and students wouldn’t budge and approve them for ISO certification. We were viciously attacked too in the work… please, do not let EVIL PEOPLE AND GREED RULE THIS COUNTRY AND WORLD.

  7. Y’all had Hillary Clinton and didn’t make it, y’all had Elizabeth Holmes and didn’t make it. We had to send a guy over transition into a woman and he/she took the woman of the year award first year. Sorry y’all just show your just as messed up as dudes

  8. Maybe it's time the real truth comes out. Let's talk about Elizabeth.. The octomom.. The real theif. From her voice to her looks.. Trying to erase a person's life, then trying to become that said erased person.. See the real plan was for this demon to rule the world.. Tried to claim she was such the light of the world.. There was only one problem, The besty wasn't on board with her and never was.. Everything Elizabeth did was illegal, right down the pantents.. Never had permission, never had a contract, never had any legal permission.. You might to ask how she was able to do all this. Fixed courts, Fixed lawyers, Fixed, fixed, fixed.. The bullies run deep.

  9. Poor girl, in 2014, Elizabeth Holmes really have a great idea of blood-testing. It is a revolutionary concept and technology at that time. The technology didn't work , because she just too young (19 year old) to understand that the technology beyond her ability. She do try her best , and still did not make Edison device work. That don't mean she is fraud.

    Elizabeth Holmes start her company and done her job brilliantly. But her 800 employee suppose to make the Edison device work. They did not do their job. Some employee even become Whistleblower . It is not fare.

    If Elizabeth Holmes give me two of her Edison devices. I can make it work in one year. I will add a 12 inches touch screen monitor for information and a printer for test result. I hope, that can help Holmes's trial and clear her name.

    My company only take 8 months to make this COVID-19 Respirator.

    The COVID-19 Respirator design by our company

    Young Diamond Medical Technology

Leave a Reply