Elizabeth Holmes & The Theranos Deception | 60 Minutes Archive
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- Опубліковано 2 січ 2022
- Elizabeth Holmes has been found guilty on four counts of wire fraud. In 2018, Norah O’Donnell reported on Theranos, the company led by Holmes with a blood-testing machine that could never perform as touted that went from a billion-dollar baby to a complete bust.
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Fun fact: Elizabeth Holmes's father is Christian Rasmus Holmes IV, former vice president of Enron. Enron was once a billion-dollar company but is now bankrupt due to a fraud scandal. Isn't it nice how Elizabeth kept the family tradition going?
Good info.
Yes that's so cool, we all love our dads! - Said Jared Kushner
Yep, it makes perfect sense. The apple wasn't far from the tree at all.
That answers a lot of questions. Like father, like daughter. Fraud, pure fraud. And greedy investors.
And apparently the Edison Machine confirmed she was fathered by Steve Jobs
For God's sake, she was 19 years old and droped out of university. Where from and when did her investors think she got all the knowledge she needed for her lab/device??? People are insane.
That part been boggling my mind as well
Ikr! madness greed
Great Silicon Valley marketing tactic
She shouldn't get anytime. She's a genius. Tricked many greedy people that never bothered to do any research
Interesting timing
While in the military, one of my fellow electrical engineers left the command to work on this project. When he came back he said “I can’t say a lot, but they will never figure it out. It doesn’t work. There is too much secrecy, too many limitations and the entire thing is based off an idea that is simply a pipe dream.”
He told us other details that painted a picture of a “perception is reality” culture within the company. He was 100% accurate in his claims.
I love that the woman with a biology degree knew almost immediately this is BS.
Yet she continued earning paychecks, and filling her belly with fraudulently sourced income.
@@jbohnoff No, she's one of the two whistleblowers!
@@jbohnoff no she didn't she quit and turned Theranos in to the center for Medicare and Medicaid services. But countless other scientists worked there and knew it was bs and kept working there just for the money knowing full well what they were doing...one guy even killed himself to prevent testifying against Elizabeth! Ian Gibbons was asked to testify at a deposition about why Elizabeth's name was on numerous patents with his when she contributed zero scientific work on them, and instead of tell the truth he KILLED HIMSELF. Imagine the hold this sociopath had on her employees!
@@B_Bodziak She blew the whistle--great--but it was months after she let fake blood test after fake blood test go to patients, feeding them false info and thus delaying medical care they may have needed.
@@summerbreeze2284 It's no wonder whistleblowers are hesitant to come forward -- look at how you're chastising her now
“This is what happens when you work to change things, First they think you're crazy, then they fight you, and then all of a sudden the jury comes back with guilty verdicts on four counts of wire fraud.”
Lol
😂😂😂😂
No kidding. The only crime she committed was using a fake voice.
🤣😂😅😁😄😃😀😂🙂🙃😊
I'm curious why all charges weren't a guilty
My favorite person in this whole story is Dr Phyllis Gardner, the Stanford professor who never believed this (Theranos) could be possible and thought that Holmes may have committed fraud.
What’s even wilder she and Elizabeth served on the board of fellows at Harvard at one point in time together!
I remember hearing about Theranos when it was still considered a legitimate company. The device was described as a medical tricorder from Star Trek, and I was thinking, "how is that even possible?" Turns out it wasn't.
Walgreens fires their consultant hired to investigate Theranos in order to protect their best interest.
Walgreens installs Theranos' Edison Machines into their stores.
FDA regulators shut down the operation, due to immediate jeopardy to patient health and safety.
Walgreens: surprised Pikachu face.
Lawyers swoop in for a massive class action lawsuit against Walgreens, Theranos, et. al.
Walgreens: surprised Pikachu face x2.
Give it some time , big pharma will be selling her invention
Had a sales rep come into the Children’s Hospital I worked at and did a whole presentation. After the rep left I spoke with an Endocrinologist Doc and asked her what she thought about it because it was fascinating. The doctor looked at me and said “ain’t no way”. She did not comprehend how it would be possible and instructed us not to use their services.
This quote comes to mind: “All that is needed for evil to prevail is for good people to do nothing. “
I wonder how many people knew or should have known, but remained silent…
It can take a lot of sacrifice , a lot worth loosing to do the right thing. I’m sure there were a lot of unsuspecting employees who didn’t want to loose their jobs and income while supporting families. But of course- if your intuition tells you something is wrong, the best thing to do is to get out of that job.
It is a testament of our failed government and society which have been manipulated by the evil international banksters for the past 300 years. The USA is no different from Zimbabwe.
Trump has done the same deception within a different context since the 1980's.
We wouldn't be dealing with half the crap we are dealing with if we all actually just lived in the TRUTH of everything.
Amen!!! Perfect quote!
John Carreyrou deserves all the awards and recognition. He is a brilliant journalist
I am a retired Medical Laboratory Technologist and graduated with an Associate in Science degree at Elizabeth Seton College in Yonkers, NY in 1977. I have over 40 years in clinical laboratories beginning at Columbia Presbyterian MC in NYC and my initial specialty was in clinical chemistry and pediatric special chemistry. Pediatric chemistries were rarely drawn with adult vacutainer tubes of blood due to the risk of causing anemia. Micro samples were therefore typically collected for analysis and the quantities were similar to the amounts Elizabeth Holmes used in testing adults. When I first read about her analyzer I knew immediately that her claims were pure fiction from my many years of experience in laboratory techniques. Her samples were not even collected and stored appropriately and her analyzer was never peer reviewed nor was it tested by licensed pathologist.
@@set65 It depends on how many tests are ordered as well as the lab's requirements. Hematological tests require whole blood usually the collection tube's cap is color coded indicating the tubes anticoagulant (most often containing Heparin). The red top tube typically contains no anticoagulant at all because most chemistry tests use serum obtained by centrifuging the clotted blood. However, some of the tests can require either serum or plasma (for example, electrolytes). But these are not the only examples. I was trained to use an an automated analyzer that ran 21 tests on a single patient sample and on many 8 hour shifts we ran more than 600 samples: That's 12,600 tests results per evening shift not counting calibration and every 10 samples was a "control sample" to insure accuracy and precision. My college text book was, John D Bauer's "Clinical Laboratory Methods". A final reason and a very important one is that clinical labs are required to store left over samples in the event a physician request it be retested to insure a patient receives appropriate treatment based on the confirmed result(s).
"B-b-b-b-ut, *Trade Secrets!* "
Hype over science unfortunately - patients are the ones who suffer in the end
Elizabeth Holmes was smart at deceiving people. Nanotainer which was a good play on words with 10-9th power for nontechnology that is in the billionth decimal place. The machine named Edison is another play on words for Thomas Edison. Great idea tie together Electric powered generator with nanotechnology and be able to read far smaller samples of blood. I think what through me off was studying graphene and how they use cd-rom laser to separate the atoms. She got use to believe in fools gold that is for sure.
Good she’s convicted!
That whistleblower is a hero. This entire scenario is hilarious. So many delusional and greedy investors got swindled by an obvious con-artist, but were blinded by hype.
Blinded by greed
I know - and a 19 year old uneducated con artist. I had no idea it was so easy to get billions out of people with no scientific proof.
Rupert Murdoch and Betsy DeVos taking a bath on this mess is the one positive outcome.
Silicon Valley knew it was BS.
Like Clinton, Obama or Trump, all big crooks, mesmeriezed people
As a retired medical technologist with many years of lab experience I am appalled that ANYONE could get suckered in and believe a drop of blood could accomplish all off these claims . It takes a lot of education, use of controls and specifications to be accurate . This is not a game ! It’s a dangerous harmful risk to patients lives. Unbelievable reckless behavior .
I wondered in hindsight what the people of Siemens and Philips thought the claims of Theranos.
Ive just finished watching The drop out, and agree with you. What I find mind blowingly scary, is how she got away time and time again, with people who should know better. It was terrifying to watch. I truly hope the rest of her life will be a miserable one.
Love how she puts on the lab coat and walks around like she actually knows something.
Live action role play lol
Cosplaying as an educated entrepreneur...
I heard Walgreens sent their own guy to checkup on Theranos. He immediately reported trouble there to Walgreens but Walgreens didn't want to believe him. They were totally sold on what Holmes was pitching. They thought their own investigator must be wrong.
you heard?
Walgreens was afraid CVS was going to outbid them so the ignored his warning and took the bait. I know CVS looks back on it and thank the stars they didn't
@@KenDAKL4ever Yes, that is in the book "Bad Blood". Worth a read!
i read different. The Walgreens consultant was asking questions that Theranos deemed to be "offensive" and "disrupting" the meeting, and subsequently boo hooed to Walgreens upper management (he was simply asking due diligence questions to protect his employer, Walgreens...mind you). Walgreens then fired their consultant.
its also been speculated that Walgreens was very worried about CVS getting in on the action, and they wanted to lock it down b4 they did.
That’s crazy. Why even send him? Lmao
I remember working at the Children’s Hospital when a Rep for Theranos came in trying to “sell” their services. Anyways after the Rep left I was talking with an Endocrinologist Doc about her thoughts on it, and she said ain’t no way. The doctor did not buy what they were selling and never referred any patient to them.
Excellent Dr
Bless your endocrinologist!
Hi
Probably saved a few lives or kept them out of danger. I remember going to Walgreens and seeing these boxes, with the price list, and thinking " I don't trust this, I won't put my health in the hands of a vending machine". Prophetic thoughts.
It’s interesting that the woman with 11 yachts fell for this, yet she replaced science in Michigan schools with “Jesus”.
So much respect for Shultz, Chung, and the other employees that helped with exposing her. Though few, good to know there are still people with integrity in these companies. I hope they throw the book at her. Holmes and Aswari may not look like serial killers we are used to hearing about, but that’s exactly what they were.
Shultz's grandfather turned out to be a serious loser.
I think a huge lesson can be learned from this. Elizabeth’s passion was money not the idea itself. I think that was her main issue. She didn’t care about the product, the people she’s helping, or the impact her product would have. She wanted to become a billionaire and it was obvious. She lied and manipulated not because she believed her product would work, but because she knew that she’s making money from selling an idea. And I think she knew that one day this would come crashing down. She didn’t care because she reached her goal of becoming a billionaire. So the lesson here is be passionate about the product and the mission not the success the follows.
I have so much respect for these two ex employees. Standing up and speaking up...so rare! I hope those ppl responsible at Walgreens who agreed on this deal are no longer there!
@@carlosrodriguez4503 “smart to buy”… if I sell you magical beans, are you smart for buying them? A bit of research would have raised red flags, instead they just threw money at her, NOT SMART.
@@SunnyDiegoProduction no amount of research at that time would have indicated that the company was a fraud, They had a NDA and the only time it was exposed was when people who work at the company broke the NDA
@@carlosrodriguez4503 Walgreens hired an expert to examine Theranos. He was suspicious and warned them against Theranos. Walgreens ignored his recommendations and they agreed with Elizabeth's demands that he be excluded from their negotiations. Pfizer had the wherewithal to refuse to do business with her. Walgreens deserve the blame for their actions.
That lady is a mad leader who she thinks is a boss to all of her employees and taking advantage of taking money from the government. Okay, I am gonna be straight with you, she is one sick delusional freaks of nothing but childs play.
@john lewis Thank you! We we’re paying attention.
My favourite part is when she wears a white lab coat and checks on everyone’s work like she has a degree in science or something hahahahaha. God bless America you really can be whatever you want when you grow up lol
You forgot to add: “if you’re rich” at the end of your sentence.
She was also extremely well connected which opened many a door and gave her added credibility.
I noticed that part, too. Lol
Lol
@@jimmyp7928 her dad was a former Exxon exec right?
One thing in my experience working in startups, be extremely wary of the word "disrupt." Every company that claims to be "disrupting the [x] industry" is a company without a real product. That word is a huge sign that they've simply slapped their name on existing technology, and are hiding it behind a slick a landing page.
Ditto for anyone who puts “disruptor” in their resume to describe themselves….
Thank you, Tyler Schultz!!! You are awesome and I am so proud of you for doing what you did. You could have just quit and gone on to something else but instead you took risks and did what needed to be done. Bravo!👏
She caused a senior scientist to commit suicide. I hope she's being sued for contributing to his death. What an awful person.
That's not her fault
Didn't remember the media even covering that story😥
No one makes anyone commit suicide.
Why? How? Who?
@@rickjames5998 almost every suicide is because of others
She was guilty of defrauding the investor. She was not guilty of defrauding the patients. Let that sink in.
In the US, investors are more important than patients.
@@manuelmarquez2514 And the socialist speaks.
Indeed, meanwhile oncology patients are erroneously being told that they have active disease and vice versa...
America
@@Grasshopper.80 Russia
I just can't understand the amount of time and honest people it took to take this fraud down... that is the most frighting...
Thank you for this video!
Just amazing how this was able to go this far. Basically selling a product that never existed for ludicrous amounts of money.
Or selling products that aren't 100% "safe & effective" and whose producers are immune from prosecution (think vaccine manufacturers). And bill taxpayers for that, which is even worse.
@@henryford2950 There is nothing in this world which is 100% safe and effective, never has been, never will be.
It was a long con.
Female, white, blonde, blue eyes, semi attractive. Tends to make men stupid and investors blind.
Well that's how powerful and accommodating white privilege can be.
The FDA overlooked the Theranos scam. They must be held responsible
That reminds me of the boeing disaster too. Government agencies in America needs some fixing. This kind of dangerous corruption leads to loss of lives
this is America. Folks are NOT held accountable.
Case in point - Trump, Fox News and their lies etc. etc.
@@Hithere-ek4qt I ironically, I bet you're first in line to trust the FDA.
@@Hithere-ek4qt Folks? You mean the elites are not held accountable.
Absolutely, this is the same FDA that agreed with Purdue Pharma that Oxycontin was non addictive. 200,000 Americans died of opioids overdoses last year. I thought the FDA was set up to protect us not the corporations profits? With stories like this who needs conspiracy theories to muddy their name.
Never forget that the "smartest" people in the whole wide world gave this obvious scammer billions of dollars and put her on magazine covers.
Exactly!
They're not "the smartest", they just have way too much wealth that they don't know what to do with, because unlike us they don't work a day in their lives.
The silver lining of this saga: Betsy DeVos and Rupert Murdock each lost $100 Million dollars.
How the jury were able to hear information like this and not find her guilty in lying to patients baffles me.
Because you are the plebs and they are the elites.
The more money you earn or steal you join the club of privileged.
Comprende?
If she confidently bamboozled investors out of millions upon millions of dollars...bamboozling a bunch of suburbanite jurors must have been a fricking cake walk!!
The jury system is a joke.
Because millionaire donors have the receipts (evidence). Regular people do not; therefore it's more difficult to prove.
They did find her guilty of four counts
The life style she lives even after getting caught shows she take zero responsibility hope she gets 20 years.
20 years in prison to still having millions after she get out? AND she will not have to raise the kid? Its a win win for her... They should take ALL her money AND have 25 years in prison...
YOU MUST BE A CLINTON SUPPORTER ..PUBLIC RECORD CLINTON IS IN ON IT
@@Kiyoone 25? She should get 80
I agree.
@@phillysauto4724 No, that's not true. Was Betsy DeVos in on it too?
Didn’t know the “Drop out” is a real story, I was watching it and wondering when the madness gonna end with a happing ending. Now know why the show kept getting from bad to worst.
My question is how in the world did auditors not catch this? Most labs get audited annually… insanity.
Money
Talking as an auditor, money. At the end of the day, people listen to money rather than truth. Auditing, like many things, is a business and giving failing reports to businesses is how auditors lose business. Additionally, more clients have to be brought in because clients drop out. A lot of overlapping projects. Ultimately, this is how auditors face demanding workloads and they are most likely to overlook things. Heavy regulation over the last 20 years by the government has made auditing a check-the-box project. We are essentially being told where to look and where not to look by these checklists. College graduates with no work experience are also a part of the problem. The education system continuously fails the public. Over time, auditing will become extinct because of the current toxic model.
She was obsessed with Steve Jobs and had no doubt heard of him asking for what seemed to be impossible and the engineers somehow figuring it out. She thought she could do the same but picked something that really was impossible.
😂
Exactly!!!
oedipal strivings for steve jobs
I don’t think it’s impossible. It just isn’t possible YET
🍎 and 🍊
The voice alone would send me running the other way.
😂😂😂😂...my thoughts too!!
And that scruffy unkempt hair!! 😂 WTF!?
Her voice and looks reminds me of the movie Romy And Michele's High School Reunion. They said they invented post- its 🤣
I followed this story from when Carreyrou first exposed them. I read his book, listened to the podcasts, documentaries, countless news reports. I understand how she pulled this off and fooled so many people, but it still boggles my mind that it took over 10 years for her to get exposed. You would think of all the clients, investors, employees, media, blood testing industry, etc. someone would have stood up sooner and alerted everyone that this was pure BS.
She got exposed only after she sought out the mainstream media’s attention.
hbo piff
This shows how much a successful scam depends on the workers silence.
I know. Why did those employees with advanced degrees stay with her for almost two years? They could have easily gotten another job. Now, they're being cited as heroes. 🙄
@@margo3367 Money
@@margo3367 Advanced scam degrees, intelligence and scholar ship is two very different states of mind
And greedy investors lol
@@margo3367 Elizabeth deliberately kept the the scientists working in silos and in competition with one another so for a lot of the time they never really had an idea of what was happening across the company and how far they were developing. She also sacked so many staff over the years who even dared question her or show concern and were made to sign NDAs or threatened with huge lawsuits if they said anything. She hired one of the most expensive and ruthless law firms in the US just to keep people quiet.
I want to know more about the psychology of how someone can live that big of a lie. She knew it didn’t work and had nothing to show for it. Did she actually think it would work out in the end?
it's years and years of a lie and the President and capitalists telling her she is amazing ( for achieving nothing BTW) and throwing money at her, at this point she believes her own lies.
Same with Bernie Madoff.
She’s soulless, heart of stone selfish, and sick. She chose Fraud, but could have easily excelled as a sociopath serial killer. To this day, she sees nothing wrong with her behavior. Wow.
People like that usually pass the checklist for psychopathy or sociopathy where they get the diagnosis for some sort anti social disorder. These people just have a very low capacity to feel empathy and remorse. On the plus side they have a near immunity to anxiety and stress but this is where can get dangerous.
She hoped it would I do believe....
Who remembers when Nora interviewed her and did a fluff piece promoting Theranos?
Elizabeth Holmes: " 💡let me put human blood in a laser printer and see what happens"....
Billionaire Investors : " 🤝💲💰💲💵💸💼
Because intensive research and investigation into "pop up" miracle machines is "dull and boring", while blind-faith high-rolling investment is "cool, trendy and sexy".
You forgot to mention that she is a nepo-baby. Neither you nor me would have gotten investors throwing themselves at us for silly claims as Holmes'.
Imagine having a college degree in biology and chemistry and working for these crooks.
Her sentence should be 50,000 years.
Meanness of this type is something unfathomable to me
I can only imagine how disappointing it must have been for these bright, young, capable minds to realize that they had committed themselves to a total sham of a corporation.
An insult to our profession
Yea keep her bone dust locked up
Looking at leas than 20, 5 year minimum.
I read or heard in a news report that her Father was an executive at Enron. So she had early family coaching in Fraud.
Really? Did you hear that?
@@jamessullivan4391
I wish I could remember where I read this but I definitely am not making it up. It really doesn’t matter now anyway.
Wikipedia says her father was a VP at Enron.
@@ARichardP So she learned from the best, or should I say worst.
Very informative
I'm still in awe at what she pulled off.
This is honestly something out of a sci-fi movie.
Entitled white woman karen who thought she was above everyone else. She deserves a long sentence. Sociopath!
@@jules-cb6ni RACIST!
@@historyouuu3495 no. It's just the truth. You're looking for racism where there is none.
@@historyouuu3495 you're part of the problem.
@@historyouuu3495 racist? Surely you're being sarcastic? Context was descriptive.
How she did not get convicted for defrauding the patients is beyond me …
Our justice system needs a lot of improvement…
I don't know the real answer, but I suspect it might be because she never interacted directly with the patients. She defrauded the investors and the industry customers because she made the false claims directly to them.
BY DEFRAUDING THE SYSTEM
I had the same question in regards to defrauding the patients.
A kind viewer of you tube provided me with these facts:
“The defense largely won those counts in by prevailing with the judge on pretrial motions that severely limited the scope of patient testimony, they were barred from being asked about physical or emotional harm they experienced as a result of faulty test results and only patients who paid out of their own pocket for the test were allowed to testify at all”.
Likely because it is difficult to prove causation. That is, it is hard to find patients whose blood was put through Theranos who then suffered illness thereafter and to then link that illness to a Theranos misdiagnosis.
My thoughts too, that to me was as bad or worse. Extremely disappointed!
It doesn't say much for these universities, does it? They give these kids degrees, and the kids still thought it was possible to do all that testing from a single drop of blood.
I think that there was something going on up in her, like she was delusional. She really believed in herself and that company. Even after it went bankrupt, she still asked for money, believing that she could still make it work. She dreamt of this company since she was 9. But it’s all insane.
She has a mental disorder
Elizabeth the psycho is the greatest saleswoman ever. The amount of greedy corporate idiots who fell for this is ridiculous. I wonder how many people had health problems because of this.
She is on par with Trump.
Big difference between being a saleswoman or a salesman and a swindler.
@@internetpeople6113 it runs in her family considering who her father is.
@@franciscojosemari4707 swindlers are good sales people, that's why they get away with things. That has nothing to do with those who do their work honestly, this can be true for both.
Investors were greedy, so it was easy for her. It was almost a ponzi scheme, but no investors got paid out. If it was not for the fact that peoples health was put at risk, you could laugh about it. Investing 100 million dollars into a black box that did not work and you did not look at it to make sure it worked!
Her damned voice. She couldn't even get that right.🤣
was she trying to imitate Adele?
It's always a mystery to me why people who run scams like this think they can get away with it. Surely they know they can only go so far before they are caught.
Because they think they’re superior and the rest of inferior humans can’t catch them. A delusional form of narcissism.
They make hay while the sun shines
She kept the investors money apparently...
I love how all the people who worked for her were way more qualified than Elizabeth 😅
I mean, that's pretty common. You need money and connections to be on top, not wisdom or anything that could be considered merit.
I've never heard this fraud explained so well by people who worked at Theranos. The evidence at the trial was fragmentary. This is excellent reporting, 60 Minutes found the right people to ask and they knew what was going on. Excellent testimony.
I think the entire case is a commentary on Silicon Valley‘s culture there’s so much hype so much exaggerating in this culture that young entrepreneurs are basically bred to behave in what Elizabeth did
@I O keep in mind this was during the unicorn boom (The unicorn club is the billionaires tech start up club emerging at Silicon Valley at the time) and people believed that this company was going to be the next Facebook and they wanted to jump on the next Rainbow rocket to riches
CBS Nora O’Donnell swallowed the bait on her first Theranos report like everybody else. As a reporter, she has no credibility in my eyes. Just a very pretty apple who fell far from the journalism tree.
@@wmonroe21 And she admitted it.
This only scratches the surface… I highly recommend the book.
As a Medical Laboratory Scientist who actually runs these tests, I'm pretty sure any one of us could have realized this was illegitimate... We all see how much sample all these different analyzers take for their respective tests and knew that one analyzer would not have the assay compatibility to run hematological, chemical, molecular tests etc. But when you have people who are so far removed from the actual lab work, I can see why they bought such an appealing story.
Many did. There was a lab tech and blogger (I forgot the name) who criticized and questioned the technology before there were any suspicions but nobody listened to them. Even Elizabeth's own professor said that her idea was impossible. The fact that there were zero doctors or medical professionals in the company board is a massive red flag.
I understand buying the story, but I won't ever be able to understand to invest millions on a machine without having a proper test before.
Just watched the series 'the drop out' actress plays her part very well.
I might be poor and struggling to pay the rent. BUT I WOULD NEVER COMMIT THE KIND OF EVIL these two were doing Holmes and Balwani.
I don't have sympathy for scam artists. Sentencing is lenient for these criminals.
Finkij Lua so predictable, maybe even herself.
I hope she goes to jail for a long time. She knew exactly what she was doing. She even lowered her voice to sound less feminine. Her lying was very conniving and very precise. I don't care how many kids she has now, she needs to go to jail for YEARS!
As the gravity of likely punishment sinks in, may Holmes feel the horror & despair the man who thought he'd contracted HIV felt; the woman who thought she'd miscarried felt; the common investors who lost their life savings felt; the whistleblower who fled the country felt; the family & friends of Sunny felt; and, Gibbons' widow felt.
She won’t. It’s w white collar crime. I doubt she would do time.
They will give her 20 but she will only serve 5 years I bet .
she won't go to prison most is a fine maybe 1 year of jail. the is American "Justice" we've seen it before. rules for thee nit for me is thier mantra
She's been found guilty of 4/11 charges. For fraud of this magnitude, hundred's of millions-billions of dollars, she'll definitely get 20 years plus, doing at least 5 years.
Sunny wasn’t the ceo. She was ceo from day 1. He is guilty as much as her. But she is so much worse. She has no remorse for what she did. She had her trail but it was against investors. She was not held accountable for the patients who suffered from her “product”.
You forgot that he further enabled her. Without him the scam wouldn't have lasted as long and she wouldn't have gotten near actual human beings that she used as patients.
How can someone put peoples life in risk like this....... this so scary !
The fact that we get free documentary on UA-cam by 60 Minutes is truly a gift. 🤙🏽
Show: *called 60 min*
Video: *14 min*
This is actually the real 60 minute story on her ua-cam.com/video/BgNfrDXr7uA/v-deo.html
@@Gazzaxxo Thanks Gaby...mami?
Cold fusions video is better tho but this is neat too
One of her college professors come forward and said that she even faked her voice. She deepened it to sound more authoritative. He said that she didn't talk like that in his class. She is bonkers.
The professor was the only one who clocked her from early and said yea that’s completely impossible
@@staceyshere it's a shame the professor didn't bother to tell anyone about it. But is it his duty to whistleblow?
@@ya00007 it was a female professor and this was while she was still in college. Right before she decided to dropped out of school. I kind of wish she came forward and gave her piece of the story but hey 🤷🏾♀️
Still hot af.
@@staceyshere Even FAKED her voice..
What an insult to all of these brilliant people she had working for her.
What does Elizabeth Holmes have in common with Sam Bankman-Fried (apart from the fact they are both in gaol)? Neither of them were ever actually a billionaire. It was all smoke and mirrors.
She gave flat out lies without even blink
At least they found her guilty. It's only symbolic. With her lawyers, the money she stole, and her sympathy tactic of having a baby while on trial, she will get a ridiculously light sentence if any.
Nonviolent, White-collar crime
No priors
Federal Sentencing Guidelines but concurrent sentencing allowed
5 - 10, out in 3 - 5. (Just in time for WASP-anchor baby's preschooling)
It’s up to 20 years per charge, she will go to jail for awhile.
@@Georgeanne17 Likely concurrent sentencing Vs. multiple charges. (Unfortunately)
Hope a real rich shady person had invested on her... The mob kind.... We all know what happens to those people...
Her not guilty charges amaze the Fing smile outta me
She deserves, and should serve, every single day of her 11 year 3 month sentence. The innocent people that went into Walgreens for testing, the investors that lost millions deserve justice. Her co defendant, and boyfriend, deserves at least the same sentence.
I’m a pharmacist at Walgreens and I no longer feel guilty if I accidentally drop a few tablets on the floor. This company can obviously afford it.
It's amazing that a college dropout managed to convince older, wealthy men of technology neither she nor they understood. Investors got exactly what they deserved- they lost money because they didn't do their homework.
They were thinking with their genitals.
@@Raymot1 I hollowed reading this comment
Never underestimate the power of being a simp
She was a young blond talking to old men. Nothing amazing here.
@@Raymot1 Yep. She knew where to go fund raising.
What proves Elzabeth is really a monster is that she still has the guts to keep asking investors to put in more cash to a massive fraud company which is worth $0.
Corporate Media Gushed Over Theranos Fraudster Elizabeth Holmes
ua-cam.com/video/rqVkYYsDOLY/v-deo.html
@@jg79100 Yeah, that's very true, the 'Fake it until you make it' saga continues at Silicon Valley and no ones seems to do anything about it. I was surprised to know that Elizabeth's fraud company managed to remain out in the field almost two decades without getting caught, that is freaking Scarry!
Investors were greedy, so it was easy for her. It was almost a ponzi scheme, but no investors got paid out. If it was not for the fact that peoples health was put at risk, you could laugh about it. Investing 100 million dollars into a black box that did not work and you did not look at it to make sure it worked!
Oh no poor widdle investors...
@@wildnfree101 because she was a woman
I'm watching the miniseries on Hulu and I hope she and Sunny get locked in jail for the rest of their lives. It's horrible what they did.
" it is much easier to fool someone, then to convince someone that they have been fooled " Abe Lincoln
How many people died believing a false negative or despaired due a false positive?
😢
She is a con artist of the worst kind. Amazes me how many politicians and wealthy people got suckered into “the vision”! The “ Edison” what the heck? 🤣🤣🤣
Well, that’s the culture in the silicon : fake it until you make it. Furthermore, it shows how stupid and greedy our politicians are!
She was also faking two internal 'reports', editing the contents and sticking other company logos on them to pass them off as 'approval' and admitted it under oath - saying it wasnt her intent to deceive anyone. So any investor who asked too many questions got forged documents in response.
She's a sociopath.
Smart people are the easiest to fool.
Ex: people that voted for Biden.
I guess "Tesla" was already taken, so you had to go to the next best thing
Yes
Mind-blowing 🥺🥺🥺🥺
I think Elizabeth THOUGHT she was clever enough with her look, voice and charm that would make people want to believe it or possibly let her get away with it, and it almost worked.
She thought UGLY worked for her is what you're saying???
@@DJMarkCorneliusThaDon she's a blond !
this woman is an idiot. she actually thought she would get away with it?
Elizabeth, is a delusional of mad queen of corporation.
Not sure about the voice…. Sounds a bit (not allowed say it anymore)
the gravity of fraud perpetrated by these criminals is breathtaking.
The stupidity of those swindled is equally astounding.
Bs
And Holmes will probably get little to no jail time after a retrial and her lawyers push and shove to get their way. And of course none of the investors will get their money back. Only in good ole Capitalist America.
What I don’t get is that Walgreen’s and the Cleveland Clinic employ people who specialize in clinical lab medicine. They could have immediately said that the Theranos machines couldn’t possibly do what Holmes claimed it did.
Tyler is a hero.
She always gave me the creeps especially her fake voice and the way she looks at people almost like a robot. It was exposed that this is not her real voice, she was caught using her real voice couple times.
It sounds so painful.
Even her visage was fake.
yes! the voice is awful... funny that she intentionally tried to sound like this?! who on earth would want to sound like that
@@auntiebagadonuts5950 who knows, obviously she's not right in the head. Her voice is just one thing in her list of crazy
Her and SuckeyBerg share common interests.. Or programmer.
All I’ll say is this: you’ve gotta look like Elizabeth Holmes to get away with a con on this scale. And I mean that in the literal sense. That’s all.
😂😂
Her and Anna Sorokin, the fake heiress! 😅😂🤣
that... is probably ridiculously true.
@I O she's looking at minimum 5yrs if the give leniency for her being a first time offender
@@thegoodsmaster she’ll get plenty of leniency based on the same thing.
11:09 the legendary quote
Her father was a VP at Enron. He taught her well. No one saw this coming?
im amazed by her ability to scam and defraud people. she even seduced a rich heir to marry her and be her baby daddy. LOL shes a real pro at scamming. Finally, the law caught up to her.
LOL. it seems like her husband is a spoiled rich kid playing with daddy's money and screwing around with Instagram models. they are both trash.
And she’s 10 years her husband’s senior🤣
To me it's a miracle how a well-off good looking guy chooses a criminal fraudster as a partner. Yes she is physically quite attractive I suppose, but there are millions of attractive women in the US who are not criminals. Any explanations?
@@timschmitt7550 power, greed
@@Beesubtle no I mean the other way around: why does the guy choose a criminal?
Can we actually have people face jail time for once? if this all ends with just money being paid how can we really have any faith that people who do this actually face consequences that they'll truly feel.
she won't get jail time coz the only mistake she did was she failed miscalculated and Failed.
you see she is not a scientist. she is just a marketer or motivator speaker (if that you prefer to call them).
steve jobs and her are the same. they both good at talking about the future and telling a story about what "they think" and "the idea".
the difference between them is Steve job knows his product is possible to make he only needs to find the proper people to make one. (iphone is no unique there are several attempt year before it.)
and that where his talent comes in. he knows how to talk, to motivate people, to lure these people to come to him and make the product possible.
This lady on the other hand miscalculated it. her product is impossible to make atleast for the current era. (we can call it , she is ahead of his time... but she isn't).
she knows how to talk, to motivate people.. to lure these "right people" to come and make her product possible.
problem is ... it isn't possible.
she failed. and that's it.
and that's the hard truth. nevertheless the only big losers here are those who invested on her. which most likely are wealthy people. so .. I don't care. they deserve to lose those money.
@@ChibiKeruchan by your logic every scammer has failed, he had the best of intentions but his little scamming brain miscalculated :(
@@ChibiKeruchan I have worked with industry as a physician and the difference in your analogy is that these CEO's need to be cautious about reporting when things aren't yet working. To make it clear how and why they aren't and suggest that a solution exists. She and her board, who btw share the blame here, didn't do this well. I don't think they realized they were in the medical device industry NOT the computer software business. There should have been a physician and scientist review board that was making it clear what this idea could and couldn't do safely.
Finger stick can be used for many chemistry and serum based studies and the idea of using very small quantities has merit. In fact the inspiration here is that there has been huge progress in the area. Obviously we rely on this for blood sugars. The problem is not enough to give a full accurate reading for the majority of the panel we normally order. Pushing cells through a slit opening as opposed to a vein causes lysis of the cells which then interferes with accurate readings for over half what you generally want to know. This was obvious to anyone in the field..well not to this group apparently. So it wasn't a full on scam and I would say it would be interesting to see what was getting accurate measurements that could have been product that was useful for many in-office studies. I don't know what has become of the work and money spent on R&D. I agree the speculative investors made money on the way up and many shorted on the way down..The funds probably ate it the most.
I do think that considering how many overpromised companies fail that we pretty much just know HER name..Burn the witch? What about the Wickens?
They do it is called jailing ADOS "black" men, women and children due to racism.
No jail time for her as no patient's life was at stake here more of a misleading of their "well-renowned" product that had investors lose big time
Fun Fact about Theranos: Literally everyone who knew what they were doing said that what Holmes claimed she was doing was impossible. And everyone just laughed at them. But, they aren't the ones sitting in jail.
After seeing the 60 Minutes piece back in 2015, I remember being very skeptical of her and Theranos. First, it seemed odd an inexperienced college dropout drove the invention of a miracle gadget (at the time had yet to be seen) no one else had been able to do. I acknowledged she's probably a bright young woman, but so are a lot of other people in the world with experience and access to capital. Yet, she found a way to make this happen to the exclusion of everyone else who ever came before her? Second, she was being called a self-made billionaire. I pointed out Theranos had not yet made a penny. Rather, her worth was only based on the company's valuation. She was a billionaire via other people's money and that doesn't count. Once Theranos paid back investors and made another billion, then she could be so entitled. Third, we've seen this before. Anyone remember Adams Platform? They promised a miracle tech product, raised millions and never delivered. That’s because their miracle product never existed. Upon expressing my skepticism, I was mercilessly attacked on a personal level with every nasty insult you can imagine. Everyone was so caught up the in romanticized vision of a young tech wiz kid who wasn't a nerdy looking guy, they lost all objectivity. When I was younger, I remember hearing the phrase "there's a sucker born every minute". Now that I'm getting older, I believe those to be the most prescient words ever spoken. Where are all those nasty feminists now?
With a little make up and a wig, Mark Zuckerberg could pass for Elizabeth Holmes. I’ve never seen them in the same room together
Lol....
That is Zuckerberg in drag.
😂😂😂
She got a deep voice …elephant int he room lol 😂
Dragerberg
Holmes is evil.
yes, one could envision someone like her as director of a concentration camp...
I just finished thr book by John Carreyrou BAD BLOOD. It is all about Theranos. This is the first time I read a book with my jaw dropping the whole time of my reading. Sunny and Elizabeth were awful humans. I know Bawani is now going on trial and Elizabeth Holmes was just found guilty. I hope they spend the rest of their life in prison.
outrageous!
How she fakes a deep voice cracks me up. Lol
did she ever take the stand? I always wanted to hear how that aged...
@@newtempphone-ash9507 you and me both - I would love to know what voice she’s taken on now
@@lottieeliza6699 "MOM" was what I read 🤯
@@newtempphone-ash9507 yes she did take the stand, and she did use that weird fake voice
They should've added an extra charge for that ridiculous fake voice.
Thank goodness they found guilty, but I still don't get how she got away with giving out whacked out test results to the public.
*"The next Steve Jobs", more like the next Bernie Madoff!*
🤔😟😚🙂🥳
🤣🤣
Bernie stole from rich Jews went to jail
She stole from greedy investors gets a slap on wrist
Yep🤣🤣
I can't figure out why doctors and lab techs and just about everyone in the medical field could think you could do hundreds of tests with one drop of blood. Last time I went to a lab they took 3 test tubes of blood not one lousy little drop for a routine check up.
Isn't it obvious?
She swindled the swindlers 😂😂
5:58 her lack of direct eye contact with the interviewer and the looking downwards demonstrates her concocting the lie on the spot. You can detect a level of hesitancy in her voice as she realises just how incredulous the lie has become as she continues, probably while thinking, she's so far ahead and generated so much credibility that few would bother to check on the validity of her 'John Hopkins' revelation!
The behaviour panel did some great videos on her body language. I found them really interesting x
Good catch
No, she did not make this up extemporaneously. She actually told this to George Shultz privately before this. I don’t have a link, but I know there’s an interview where he repeats this story (and also talked about CDC delaying validating their Ebola tests - which was another lie Elizabeth had told him). Sorry, body language isn’t enough to tell you the full story. And we should be careful not to concoct a narrative just because it’s easy!
Thanks Greg, what have you got Chase?
She IS a liar, but your non-verbal cues are not an exact science.
Direct eye contact? It’s not a staring competition.
Looking down could mean thinking, not lying.
BUT in Her case, yes she’s a liar.
Elizabeth needed to be found guilty on all 11 charges. The fact that she wasn't proves that the justice system is no good.
Tyler was right his grandpa didn't want to believe him.
I love seeing old videos and magazine covers of Holmes back when people thought she was some genius knowing where she’s going to end up.
Lol, same thing for SBF and his co-criminals.
@@07Flash11MRC Oohh!!! Gotta put that one on my playlist. Thanks for the reminder.