The Rise and Fall of Elizabeth Holmes: From Silicon Valley Superstar to Indicted CEO
Elizabeth Holmes was once hailed as the next Steve Jobs and a Silicon Valley superstar. At the peak of her career, she was the CEO of Theranos, a medical technology startup she founded in 2003 that aimed to revolutionize the healthcare industry by developing a device that could run multiple blood tests with just a single drop of blood, instead of drawing several vials of blood from patients.
Holmes' Theranos became the poster child for innovation and garnered a lot of attention from investors, valued at $9 billion in 2015. She appeared in various high-profile events and was even featured in the cover of Forbes magazine as America's youngest self-made female billionaire. However, the company's image started to crumble when reporters started to scrutinize Theranos' technology and claims.
In 2018, Holmes and her ex-boyfriend, Sunny Balwani, were indicted on multiple charges of wire fraud and conspiracy to commit wire fraud by the U.S. Department of Justice. The charges were related to allegedly concealed information about the company's technology and capabilities to investors, leading to them investing millions of dollars in the company. In reality, Theranos' technology was flawed, inaccurate, and, in some cases, unusable, which put patients