Wow… This lady really tried to blame her scamming ways on a man. Very strong and very independent of her.
the fact that she got herself pregnant with the trial looming and a strong case shows she is selfish and has no regards for others (even her own child) but herself
She managed to play the poor me I’m a woman card and the I’m abused card. That is absolute BS. She was totally calculating and was in control of her actions. It’s time for her to do the equality thing and take full responsibility and the punishment. 80 years please. Equality with Madoff.
And yet a truck driver was going to serve 110 years for an accident
Watched her story on American Greed. The media was definitely partly responsible for her rapid success. She’s still deserves whatever she gets.
Who else agrees that her intentions weren’t really to help humanity, but to get rich.
She created a pressure cooker situation that caused at least one member of her staff to skewer slide… She should be charged with involuntary manslaughter for that and held accountable for every fake medical test her company performed
Creating a revolutionary way to test blood with only a high school degree should have been a huge red flag
I love how walgreens OWN medical advisor was like “this is all bs PLEASE do not invest in this” and walgreens was like “lmao shut up”
A good sign of a fraud is someone who tries to superficially appear like someone else
“Except Holmes wasn’t just another college first-year. She was the daughter of Christian Holmes IV, a former Enron vice president descended from the family that founded Fleischmann’s Yeast, and Noel Daoust, a congressional aide. Though not Bill Gates wealthy, they certainly weren’t impoverished, and they had plenty of connections.” Jesus, you just can’t make this stuff up these days.
There always was and always will be white collar crime, but this particular crime could have put thousands of lives in danger, so should be punished aggressively.
She’s barely going to get any time for her crimes. The government could have pursued a much tougher case. There were people that made medical decisions off of her faulty equipment yet she wasn’t found guilty of that. Only of defrauding investors. What a sham of a trial and what a sham of a case. She deserves so much more time than what she’s going to get.
“living in her luxury San Francisco home” is a bit of an understatement. She is living in one of the most expensive homes in the US, currently listed for $135 million.
Really would like to know how she thought this was going to resolve in the most ideal circumstances for her. Did she think she could pay her own researchers enough to actually develop this capability before the whole house of cards came down when established companies in this industry could not?
I don’t believe a word of what her lawyers are saying. EH seemed happy and content on TV. Her (former) employee has killed himself as a result of his treatment at Theranos. She is a psychopath and she belongs in jail.
This just highlights how bad investment in biological science is. There’s very few investors with a biological science background so loads of great things are overlooked and these people get it! Everyone says state of the art technology, but I still haven’t seen a single explanation of what this technology was even meant to be!
The only way this happened was because she was a woman. If this had been a man he would have been scrutinized much harder. People wanted her to succeed because she was a woman.
I don´t get this. There must have been many experts in the field of Hematology that knew for a fact that what she claimed was possible, actually was not possible. Why didn´t they say anything?
“Why hasn’t anyone done this yet” is the most important question when evaluating new tech.. it’s not like blood testing companies choose to use a lot of blood, or that they have any incentive to use more than what is absolutely necessary, therefore it is extremely unlikely this has not already been optimized for and any claims about improving that should be viewed with skepticism. I’m glad everyone involved lost their money, it was their own fault. The real victims were the people who received false or late results from her contract with Walgreens.
Judging from nature of her crimes, She will probably serve just half of sentence then get out on parole.
She wasn’t alone in this, her partner was the mastermind who coached her and built up her confidence to the point where she thought her luck was going to change at any time. The text messages between the two prove it. He acts naive as if he didn’t know what was going on.
“First they ignore you, then they laugh at you, then they fight you, then you win.”- she ripped this off from Ghandi, and made it her own.
Well. I guess dressing like Steve Jobs ain’t enough
People get easily blinded from the prospects of big profits. Everyone wants to be the one who discovered the new big thing and the fear of missing out we shouldn’t forget either. It seems its just how we humans work, the more fantastic something sounds, be it an investment or a cure, the faster we throw out reason.
Who else was arrested for this scandal? No way in hell could she have accomplished this all alone, and no way were her cohorts ignorant of it all either.
That was a fascinating insight, thank you! What was her end plan? The fraud was always going to be discovered when they couldn’t deliver. With the amount of money she raised, she could probably have developed some worthwhile new technology in the field.
Nice to see that the Lawyers have finally made enough money out of this for justice to commence.
If her dad was an Enron executive and she started Theranos, just imagine what her child is going to be capable of
I’m sure she was and is not the only corrupt person. Hopefully more cheaters are identified and brought to see truth and justice, whether it’s intentional or through negligence.
I am sure that during this whole ordeal, many many many doctors, scientists and business professionals in the field would have smelt a rat and known for a fact that what they were claiming was impossible. So the question is, where were they – why didn’t they speak up? It can often be a dangerous game to publicly make claims against a public company. Defamation like that can often come with huge law suites. I am sure that A LOT of people in the world smelt a rat, but didn’t want to get themselves personally involved as they could have found themselves having to cover large amounts of legal fees if they were prepared to publicly defame Theranos. The same thing happened with Lance Armstrong – many professional athletes, coaches, sports journalists, sports doctors etc – many people knew for years that he was cheating simply from the fact they knew from their professional experience that what he was doing was 100% impossible without doping significantly. All of the people who publicly claimed that he was cheating got taken to the cleaners in the court room – Armstrong actually made a number of his accusers file for bankruptcy because of legal proceedings for the public defamation. So there went years and years where everyone was scared to accuse him of cheating from the fear of legal proceedings. One of the unfortunate aspects of our current capitalist construct – there is that element of self preservation that is often more important for people than the duty of speaking out.
She needs to do time , 20 years minimum , these fraudsters need to forfeit it all .
It’s disgraceful to every self-respecting woman for her to blame her fraudulent behaviour on a man. From all the evidence I’ve seen so far, at most Sunny was trying to be a Queenmaker, pushing her to be a better version of herself, which to me does not amount to abuse. She admitted herself that Sunny never encouraged or outrightly told her to defraud people, she made that decision all on her own. Then we wonder why some men don’t take us seriously. It’s because when we F up we don’t own our sh*t. We hold ourselves to a different standard than what we hold men to (if EH was a man she would have been convicted on ALL charges) & so does the mainstream media who love to constantly portray women as perpetual victims, esp if you’re young, white and blond. I hope she gets the maximum sentence.
It’s ironic their flagship invention was called the Edison considering how many inventions he stole from others.
I think that in most cases sending someone to jail isn’t the solution. Let them pay off the damage done to their victems is a much better solution
Hard to feel bad for the people she ripped off. Betsy Devos, Kissinger et al. They’re awful people But it is fascinating that she’s still out and about. She should be locked up.
She will do 9 months on house arrest. She will donate to the judges favorite charity. The law firm the represents her will give an internship to the judges nephew. And that’s how business is done for the rich.
the more corruption and white collar crime is prosecuted the better. Corrupt people remain quite and protect other corrupt people.
You would think people would learn from these mistakes, but I have no doubt there will be more Holmes, more Miltons, more Enrons…
A real tragedy, in the Greek sense. An exceptional figure brought down by hubris. She’s clearly a psychopath, but an intelligent one. They’re dangerous, but can be valuable under the right conditions. It’s regrettable that public investors lost money, but frankly her initial backers deserved to lose money for such sloppy due dilidgence.
Hopefully Milton is not far behind her. LOCK them both up.
Such certainly takes money from the hands of those starting out and with real and practical projects. The scientific method should be applied in the analysis of some of these projects and ideas. In some cases, it seems people are simply overzealous/overenthusiastic and deluded, but in most, it seems like simple greed.
Imagine Trevor Milton and Elizabeth Holmes pitching their products in Shark Tank. I think Trevor would do better than Elizabeth regarding questions about numbers and projections. Regarding garnering sympathy Elizabeth would win.
Biggest Takeaway : Investors are much dumber than they seem
I don’t ever remember having a painful blood test done and they’ve taken as many as five vials at a time it was never painful
she should be sentenced like a man, more than 2o years. She’s such a con artist, went from pretending to be a Steve Jobs clone when playing inventor/CEO, to I’m just a beautiful married woman who is married and pregnant. Fake it till you make it is not a mantra but is a joke that co-workers say to each other with a wink when talking about their less-skilled co-workers.
“First they think you are crazy,,,,” The first impression is often times the right one.
I think the fault of the mostly male investors is not that they didn’t have medical backgrounds, but rather that they were bamboozled by a striking woman and thinking with their small head.
It makes you wonder how often someone is able to get away with it. If ever? Always curious if it’s ever been done.
She is sickening. I feel bad for the investors but, if a man would have come to them and did the same thing, they would have sent him packing. She charmed the money out of them.
Wow. Her high school diploma made her a well-educated biological scientist and engineer.
“DILUTED THE BLOOD!!!” wow! Simply no regard to human life. Yeah lock her up and throw away the key!!
She scammed so much ppl, and ruinned the life of over 100 000 families, drove them to suicide and forced family to sell their houses and got evicted! She should stay behind bars forever, such a human with zero courage and moral should never be Released
you pump these out so fast and they’re so good. keep it up
She is clever enough to simply played on people’s greed that blind everyone involved.
It amazes me how somebody can think that they can actually pull this off. It would be easier to take all the gold from Fort Knox. Sooo where did all that BILLIONS of dollars go?
The 4 charges she was found guilt yon are all within the same category. The charges are stacked so that the total incarceration penalty amongst this category can only be the maximum of one charge. Therefore she can only be charged to 20 years plus deregistration and financial penalties.
More interesting is the fact how willingly everyone wanted it to be true, that got her scam to work in the first place. And anyone signalboosting her should receive massive amounts of scorn. No innocents can be found here.
when her child is born, the child could be motherless, that’s quite irresponsible as well and should be convicted
I don’t quite get how none of the investors were questioning why there weren’t any investors with expertise in that area
Having to live in San Francisco these days, already kind of is a punishment isn’t it? The lady is hilarious. According to her former classmates, she started to speak at least an octave lower since she became CEO.
This is amazing. To be super filthy rich instantly in America, one has to lie straight out unapologetically.
she is evil. the investors only saw $ signs, they should be ashamed and the clients weird they thought this would actually work, every time I get blood test done I always ask why so much, or consult with my doctor. I feel bad for no one here
Hindsight is 20/20. History repeats itself. Guess who else is making grandiose promises by recycling, reframing and rebranding old ideas as his own and not delivering on them?
People are so easy to fool by a person with strong confidence
Elizabeth Holmes will not serve jail time Come on man!
Life without parole because there was zero regard for life on her part. This is a perfect example of why it is critical to always maintain a solid 3rd party regulatory body all businesses. Business only cares about making money and has to be kept in check. Deregulation of anything should always be raising red flags to everyone.
The real criminals are the stock gamblers who rush to buy and sell for much more the latest gimmick. Instead of using their money and abilities to create sound needed companies, they gamble on stocks much like a poker game. Hoping that someone else will appear to pay more.
It’s only concerning investor relations, not about selling broken tests to the public. You can scam the people, but don’t ever dare affecting people with money.
This channel is pretty good, and I’ve seen a few videos. This particular episode seemed a little rushed – a little off somehow – not sure. But thanks for the news. Still better than the tired old mainstream outlets.
She should do at least 50 years with no possibility to see her family ever again, what a horrible individual
Hey! Who hasn’t committed billions of dollars in fraud while improving their time management skills? /s
Always a red flag when the boss of a public company lives an outlandishly extravagant lifestyle. Most CEO’s go out of their way to present a modest lifestyle.
This is a shame in a way because if this was true this technology would have been revolutionary, coming from someone who’s had a long medical history of cancer and a stroke just to name a few, I’ve been poked millions of times for blood work and lots of blood as been taken out of me over the years. If this technology was true with only very low amounts of blood that would just be something else.
All she had to do was claim something, and investors simply believed the claims without demanding concrete evidence. And this is exactly the problem with the cursed combination of the financial world and the technological world People with a lot of money and little critical thinking ability are looking to invest in people desperate for money who are not ashamed to lie if that is what will advance them financially
Just goes to show investors don’t really look at merit, they just retro justify. They invest or refuse to invest based on ulterior motives more than they admit. But putting it on Sonny was a dog move.
If only she did this in the tech industry and not the medical industry
If she would have gone public she never would have got convicted lol.
I mean, let’s be real. Anybody who invests in something called “Theranos” probably should’ve gotten screwed.
The ironic thing is that this little schemer fooled some of the smartest people in the financial industry and politics. In the end, she blamed a man for all of her shenanigans
Give her 20 for fraud and another 20 for blaming Sunny. It was clearly all her. He’s on record trying to bring her back to reality over and over. Outrageous.
Deception in modern times, initially uncovered, attracts for ulterior motives. As revealed in the Holmes’ case, short-lived prestige is not worthwhile! I hope and pray the young professionals will have learned through Holmes’ case – “What does it profit men if they gain prestige, position, and money but are uncovered eventually, ending up in disgrace? ” All luxury is external, temporary, a complete disgrace! SAATAN’S LAIR!!!
Damn if she had went on Shark Tank they would have sniffed her out immediately LOL “You’re valuation is WHAT?!, I don’t see how you got to that number, How much did you make in sales last year?” and she would be Done right there lol.
She really makes strong independent women who actually have gone through abuse look bad. She used strong women narrative to drive her calculative, fraudulent agenda and now using the abuse card to get herself out of trouble that she caused. I always defend women but she deserves so much worse than what she got, she uses a women’s natural charm and intelligence in the most malevolent and mischievous ways. God I don’t even know her yet you feel so much anger towards how she went about it, have not once seen her acknowledge her wrong doings or even try to apologize to patients who she knowingly caused harm to. Not accepting what you did wrong doesn’t mean you didn’t do them or that others don’t see it. She is only fooling herself.
Female privilege at work i’d say. Still out and about living her free life, “oh im pregnant btw”, just blame it on the other guy and ‘believe all women’… /facepalm She defrauded so many for so much, even suicide.
if she simply scammed a bunch of Millonaries and Companies I wouldn’t have cared if she got away. But she went further than that she endangered the lives of people.
She deserves at least 20 years.
She did it not alone! Who are the others?
In the beginning, I never believe on her company. She should serve at least until she turns 75 inside the prison cell; otherwise, if she comes out early, she might start another fraud company for senior citizens which is not good.
How is some of the stuff she did different that Elon Musk on Tv saying that all of the house on the Desperate Housewives set were all converted to working solar roofs when that wasn’t true? Didn’t that PR boost Solar City’s stock?
This is not going to be last time this will happen. I believe in the beginning she was naive to the technology required to make the machine she thought she could fake it till, her company literally made the technology. At some point she realized she was trapped and understood the impossible mission she had set for her self. To put things into perspective it requires room of 300 machines to do what she was claiming one machine could do with a drop of blood. Ironic thing is she would send people blood to labs with 300 machines in order to keep the scam going. Most people think she got the idea same way steve jobs did by watching star trek. Ok I have to go now I got to pitch my idea for a transporter
Her face got the mark Zuckerberg amphibious look
with lots of discoveries and improvement in technologies, it is very hard to discover or improve something thats being used and working the best we see in massive scale, cuz research would have already gone in those areas due to competition and making more money. The second half was hilarious, poor man gets to be the scapegoat lol!
Seems the people on the jury had more sense than all those wealthy high profile investors
There is something about this crazy woman that gets my juices flowing.
Blessing you should learn is there’s no such thing as the sophisticated investor. If it’s too good to be true it’s because it is
She’s needs to serve some years of jail time. I don’t think she should spend the rest of her life but it needs to be significant enough. She can do humanitarian from jail and pay back the investors.
Being convicted of crimes does not mean justice being served. She has a kid; the Judge will sentence her to four years in a “country club” type institution and five years’ probation, she will serve two and a half.
Well the traditional blood testing isn’t really painful – you get out the chair in 5 min
Give her some credit: She is a pioneering woman trying to make it in the male-dominated world of financial crime.
Blood draw was never painful for me…. It’s like a ant bite
Holmes actions caused significant damage and put the lives of multiple people needlessly at risk, she should get a LONG sentence, as people might not even get to live the lives they would have else wise had if not for what she did. Now while we are at it, can we put the Sackler Family in jail with her, considering what they did was even worse?
She’s blonde, white, young, and female. Nothing will happen to her.
If Elizabeth was a man, she would’ve been convicted a long time ago. No support, no reduced sentences and no way of manipulating his(her) way out of it. It would’ve been a done deal.
It hilarious how it was al a stage play with clowns as actors, and many investors fell for this chit.
04:20 Actually… Making a fusor is entirely possible for a high-school kid, and several have done it. Sure, it is the energy production equivalent of putting a water wheel under your tap, but — yes — a high-school kid can accomplish nuclear fusion.
To all the people hurt by her actions, this is the one time I’m sorry the perpetrator was not a Black man. Because if they was we would have real justice, sadly as a White woman who deliberately became a mother, she will walk away with a warning ️
You forgot to mention the role of greed in this saga, a major factor in investors blindness to the obvious flaws.
Give her 20 years for her fake voice and then add on the rest for her crimes.
Smart woman. Only if she used her skills in real work, like politics, she could be the next president!
If justice was served she’d be sitting in the slam and her home and assets would have been seized by now. They’ve slow walked this through the courts
Martin Shkreli: finally a worthy opponent!
Still guessing why the board paid just for their “mafia” network wasn’t charged at all but most probably the answer to my question is in the question itself…
Very comprehensive video!
Only 20 years in jail? What about the money she took from investors?
I mean it is really bad what she did, but when the high rollers of shifty business get duped, lied to and sucked in to there own truth bending greedster games – I can live with that – it may even teach them a lesson or two. Just maybe, though I won’t hold my breath over it.
The juror`s had a 4 star system, 4 for being a credible witness, she only got a 2.
A lot of poor people have a lot time for a lot less
She should do the 20, but only for the actual and potential harm to the public at large. The investors? I’m still laughing.
Rich people don’t go to prison. Madoff was a very rare exception.
This is proof there is a class system, rich and poor. You think anyone would give her the time of day if she were poor with only a high school diploma? If that were the case she’d either be laughed out or heavily exploited. Yet because of her parents connections she had money thrown at her for funding. I don’t feel bad for the people who invested because these rich people have lost touch with the general population.
One thing that I find noteworthy, but few seemed to have commented on, is how little an 800 person company actually accomplished in a dozen years with going on USD1 billion worth of investment and R&D funds. RMY
That’s what you get for naming your machine after a known patent thief.
Every legit successful SV company are founded by technical experts turning founder (most that I know). So if a marketing ppl becoming ceo do sth very innovative well you better be doing your DD. Especially when it implies human health.
Good, she needs to be on jail, real jail for a lot of years or frauds like this threatening the lives of thousands will keep reapeating.
Elon Musk will be the next to fall.
The regulators should be held accountable as well for not doing their job. This should not have happened if they have.
She would make a great mother!!!!!
She’s very intelligent.. got caught though. So much corruption in the world she’s just got caught.
Don’t go after nuclear Boy Scout. The kid was crazy but was innovative and craft.
she will probably serve less than two years and start working for JPM as a director even from her pen cell
Don’t blame her, blame the investors who all you need to swindle is a turtle neck, a deep voice and a scammers charisma. Many legit companies came, but investors wanted to invest in Theranos because of the things that I’ve stated.
Well Daddy was a Vice President for Enron. Kinda runs in the family.
People want to believe in miracles. It’s been true since the dawn of time.
Watch her sentencing, it will say alot about the justice system I’m sure. Bet you any money she will get small time if any time compared to much less significant crimes by poorer people.
She dumped the Steve Jobs look and dressed like a woman with spring outfits to make herself look relatable to the jury. She even dropped her low voice act lol.
Well she might be a scammer but at least scammed the right people. Like those that went over dead bodies to accumulate their wealth. It’s like scamming a scammer.
Elizabeth Holmes presented her ideas to Stanford Professor Phyllis Gardner very early on. It was clear to anyone with a scientific background that the claims were outrageous!… “She saw through Elizabeth Holmes. Now Stanford professor is star in Theranos saga”. The Mercury News. 2019-06-03. Retrieved 2019-08-09.
I will say blood machines are not huge… I am a veterinarian, I have a CBC and a Chemistry analyzer and both fit on a desk… maybe 3 feet x 2 feet… and they run all the same values that human machines run. Now they do take a full 2 to 3 cc of blood for each to run…. but they are no where near the same size of an old mainframe
Why did Walgreens get involved with Theranos without due diligence?
Empathy is important in life but in this case the lack of empathy she showed to the people she tested on her fake machine put them in life threatening situations. The people supporting her are just being dumb and like her showing no empathy to the people she harmed. The billionaires? The likes of Murdoch deserve to lose money as he doesn’t pay taxes in Australia. The rest of them can afford it. It’s just a pin prick for them.
Having a small problem with those that claim to have been ripped off. It seems that when investors make money they don’t make a fuss about it but when their investment goes sour they run about like headless chickens claiming to have been conned. All these investors could have undertaken research into what they were getting into but the opportunity to make huge sums if money seems to have dulled their judgement. I am sure that if Elizabeth Homes had decided to setup a scam she would have done a better job. I think she was simply overconfident on what she could deliver and tried to make sure that her baby came to fruition…..
She sold shit by the truck load ,yet people were lining up to buy shit ! Can’t blame her for trying !
Smartest people in the room… Those investors…
I just honestly don’t believe she planned on being disceptive.