$9B Fraud: How Elizabeth Holmes Faked Theranos Blood Tests

Theranos collapsed from $9B valuation to zero because the blood tests never worked. In 2014, Elizabeth Holmes was on every magazine cover in America. Forbes called her
the youngest self-made female billionaire in the world. Theranos was valued at nine
billion dollars. Walgreens had agreed to put Theranos blood-test machines in every
store in America. Henry Kissinger sat on her board. Joe Biden visited her lab.
Three years later, Theranos was worthless. Elizabeth Holmes was indicted for
criminal fraud. The blood tests had never actually worked. Not in 2014. Not in 2010.
Not ever. This is the story of how a Stanford dropout convinced America that one
drop of blood could replace the entire medical lab system, and how she kept the lie
going for thirteen years while patients got results that could have killed them.

Sources used in this video:
🔗 https://www.wsj.com/articles/theranos-has-struggled-with-blood-tests-1444881901 — John Carreyrou's bombshell WSJ article, October 15, 2015 — first to expose the fraud
🔗 https://www.nytimes.com/2022/01/03/technology/elizabeth-holmes-guilty.html — NYT on Holmes's conviction, January 3 2022
🔗 https://www.justice.gov/usao-ndca/pr/elizabeth-holmes-sentenced-more-11-years-defrauding-theranos-investors — DOJ press release on Holmes 11.25-year sentence
🔗 https://www.bloomberg.com/news/features/2018-03-14/elizabeth-holmes-and-the-fall-of-theranos — Bloomberg long-read on the rise and fall
🔗 https://en.wikipedia.org/wiki/Theranos — Historical timeline reference
🔗 https://www.ft.com/content/elizabeth-holmes-theranos-trial — FT trial coverage
🔗 https://www.sec.gov/news/press-release/2018-41 — SEC fraud charges, March 14 2018

Chapters:
00:00 Intro
00:02 Act 1: The Dream
02:32 Act 2: The Box
05:52 Act 3: The Brand
08:52 Act 4: The Reporter
11:42 Act 5: The Verdict

🎬 Bankrupt Giants — documentaries on the empires Wall Street, Walmart, and bad decisions destroyed.
🔔 Subscribe for new bankruptcy stories every week.

#Theranos #ElizabethHolmes #BankruptGiants

Видео $9B Fraud: How Elizabeth Holmes Faked Theranos Blood Tests канала Bankrupt Giants