Season 2, Episode 16: The Rise and Fall of Elizabeth Holmes and Theranos

<p>Elizabeth Holmes is a direct descendent of Charles Louis Fleischmann, a Hungarian immigrant who founded the Fleischmann's Yeast Company. &nbsp;She attended Stanford University, studied chemical engineering and had a background in working in biotechnology. &nbsp;In 2003, Holmes started Theranos corporation ("Theranos" is a combination of the words "therapy" and "diagnosis.") &nbsp;which claimed it was developing a way to conduct blood tests from a few drops of blood from a pinprick rather than having to use the large quantities of blood that are normally required for such tests. &nbsp;Such an innovation would represent a tremendous leap forward in the ability to conduct testing as well as make the lives of patients' far easier. &nbsp;It would be a breakthrough.</p> <p>Unfortunately, the technology did not exist.</p> <p>Theranos was valued at $9 billion in 2015. &nbsp;A year later, it was valued at 0.</p> <p>Elizabeth Holmes was charged with multiple counts of wire fraud and conspiracy to commit wire fraud in 2018. &nbsp;She was found guilty on several counts in January, 2022 and sentenced to more than 11 years in Federal prison.</p> <p>Basic rule of investing: caveat emptor. &nbsp;</p> <p>Opening and Closing Music:</p> <p>Penguin music - ModernChillout - Background Music [NCS Release]</p> --- Send in a voice message: https://anchor.fm/gene-tausk/message