It was so unusual: a female entrepreneur! It must be something great! – and then you’re suddenly changing the world – the company’s valuation reached 9 billions of dollars – we immediately imagine the personality type of Steve Jobs

– do you swear to tell the truth? – I do swear – now she faces several decades of imprisonment for fraud – I can’t immediately understand how many people have suffered because of her – let’s say people with suspected cancer received a depressing verdict

The amateurs had invested in theranos rich amateurs – like Robert Murdoch or the former US Secretary of State – Elizabeth spoke at the conference with Clinton – most men just fell in love with her. Ha! And why not? these were mostly elderly white men

– If you realize that you are in danger you you will be able to do much more – and she even changed the tone of her voice to sound more authoritative she believed her own lies [Pivovarov] Hello, my friends. The location of our

Today’s video is the famous Silicon Valley. Big ideas, big ambitions, a lot of money. Elizabeth Holmes had all this in abundance. She offered a revolutionary way of analyzing blood from a finger with almost instantaneous result, the project was supported by large investments of legendary politicians and

Businessmen. Holmes became the youngest billionaire woman in history and then she changed to the most famous fraudster in America you may have heard this story on the news or maybe you watched the TV series “The Dropout” with Amanda Seyfried playing the part of Elizabeth

She won an Emmy for it. But today you will hear the story of an incredible scam firsthand from its direct participants including Elizabeth’s key employee, the man who, in the end, exposed a billion-dollar fraud. So far he has not yet given an expanded

Interview. I give the floor to Ilya Egorov [Holmes] how to convince people being only 19 to that you know what you do and that you will succeed? [Rosendorf] she was very charming very, I talked to her and she radiated sincerity [Gafner] She was very young and incredibly impressive

And I was even quoted when I Said she didn’t blink, it scared me and made me nervous It’s not about age, people like Steve Jobs, Bill Gates, the guys from Google, Michael del Lari, Allison and others demonstrated this

[Yegorov] at the age of 19 Elizabeth Holmes would found a medical startup that in 10 years would have been worth billions and would promise the humanity an incredible breakthrough in the future [Fuisz] at that time, she was creating for herself an image

Of a great businesswoman who aspired to revolutionize medicine, therefore we could immediately imagine Steve Jobs’ personality type an eccentric complex person but at the same time focused on their product or business [Holmes] I sleep for about 4 hours I feel like I’m the happiest

Person in the world every day, thanks to What I do [Komissariuk] she used the very kind of gimmick that made an entrepreneur out of her, she dressed in Steve Jobs’ style, she threw short, yet sharp and thoughtful phrases and she even changed the tone of her voice.

She used to make it lower – as has been researched many times already – to sound more authoritative [Fuisz] It was amazing that there were huge resources and she didn’t treat it all like business, rather like her personal initiative which absolutely

Did not require effective management [Ioannidis] I believe that there are charismatic people whose personality attracts you, who are deliberately trying to appear attractive. I think many people in Silicon Valley and other epicenters of modern civilization intentionally try to seem charismatic and

The favor from the media and the whole this entourage contributes to this IT happened so to Elizabeth Holmes [The judge] do you swear to tell the truth, only truth and nothing but the truth? – I swear – the authorities are investigating the case

Of Theranos Medical Company – we are watching the development of the court case against Elizabeth Holmes – the youngest woman billionaire, who has succeeded herself is now facing several decades ]in prison for fraud [Fuisz] if you describe this story briefly,

You won’t understand how many people suffered because of her and I would not have thought that these events would have such an impact on their lives. For example, look at Rosendorf [Rosendorf] she was secretive, she cultivated a certain mystical atmosphere around her, you maintain mysterious

And unpredictable, so that nobody knows when the enemy is going to attack and she really knew how to use her force and spectacularity and how to be an actress

[Fuisz] I know many people who used to work at Theranos and the majority of their stories are similar to Adam’s What had happened to them literally broke them [Yegorov] Steve Jobs in a skirt – actually, ms. Holmes had a habit of wearing pants –

Was known all across the world. Her medical startup Theranos was called Next Big thing, next big story after Apple, Google, Facebook. Holmes assured everyone that her company was capable of taking blood tests nearly momentarily. In a span of 1p years Theranos got

Approximately 700 million dollars invested in it. In its board of Directors there were 2 former US Secretaries of State. By 2014 the evaluated cost of this company had reached 9 billion dollars, and even in Russia, which is far away and the surname Holmes was always associated

Only with a famous detective, everyone seemed stunned when the story of an incredible success of a woman entrepreneur turned out to be an incredible fraud. Last year, Elizabeth was sentenced to 11 years of imprisonment. In our video,

The truth about her way from a visionary to a speculator is told by those who know Holmes well, including a person who was the reason why she faced jury [Ioannidis] My name is John Ioannidis, I am a professor of medicine and politics in the area

Of healthcare in Stanford university and an epidemiologist [Yegorov] Professor Ioannidis was the first one to raise a question of scientific viability of Elizabeth’s startup [Gardner] I’m Phyllis Gardner, I’m a professor of medicine here, in Stanford university

Holmes asked her for a piece of advice while still studying in Stanford and Gardned was trying to dissuade her ambitious student from this: her invention wouldn’t work – I received a doctor degree in the area of chemical engineering in Stanford

University where Elizabeth had also been studying Anne Kopf-Sill was offered a place at Theranos, on the first meeting with Elizabeth Holmes the doctor understood that this startup wasn’t something certain [Fuisz] My name is Joseph, I’m an inventor Most of the time I work

In the pharmaceutical business, I live in Tennessee, there are Approximately 50 patents registered on my name, they mostly are connected with oral medications [Yegorov] a friend of the Holmes family Joseph Fuisz, together with his father Richard Fuisz, an owner of multiple medical patents

Was a vital source of information gor journalists who exposed Holmes’ fraud [Cheryl Gafner] Hello, my name is Cheryl Gafner I had worked in Theranos for a little less than a year [Yegorov] she started as a secretary but soon she became Responsible for leisure and pastime

Of the staff [Rosendorf] I’m Adam Rosendorf, I’m a father of a beautiful five year old girl in the first place. In 2000 I graduated from the medical school Mount Sinai. Since 2005, For 17 years, I’ve been working on Clinical pathologies – Doctor Rosendorf

Was the key employee of Theranos and then he became the key witness of the trial of the founder of the company This is his first big interview [Rosendorf] Hi, how are you? I’m ready to be interviewed about this strange story, so that others

Run their businesses in the field of the USA health care normally [Fuisz] My parents: my father and my stepmother, Richard and Лорейн were neighbours with the Holmes family in Washington for a couple of years. My stepmother and Noel, the mother of Elizabeth had been close friends

For many years. My father was also a friend to this family I met them under these circumstances. [Rosendorf] Elizabeth’s father was a high-rank employee of Enron company and she doesn’t know why he was fired Or why he abandoned the company. The high

Echelons of power in Venron weren’t any good, they all were sick and spoiled, just like in Theranos [Fuisz] Her parents, well, how to put it, were living in the past, their ancestors were old American business aristocrats, they had a huge

Fortune which they had been losing as the time passed and they were disappointed about that On the one hand, these people considered themselves better than the others, on the other hand they thought of themselves as victims, as if they’ve been robbed of something

They had a right for, so It’s impossible to fully understand where is the root of gigantic personal ambitions of Elizabeth if you don’t know how her family behaved [Holmes] my parents have been saving money for all their life, so that

My brother and I could go to college. In order to invest in the foundation of this company they let me take the money they could’ve spent on their pension [Yegorov] in 2003 she dropped out from Stanford – just like Steve Jobs, Bill Gates and Mark Zukerberg

Had dropped out from their unis [Strebulaev] I have been teaching a course on the venture capital for the students of Stanford business school and one third of my students are those who want to become venture investors, while two thirds of them are people who want to found

A startup, and so they come to my Stanford office And I’ve never had a student Who would come to me, to my office, who would tell me something About the concept of their Startup and who would be unsure

That they would change the world [Ioannidis] I wouldn’t condemn her of dropping out from Stanford and founding a corporation Stanford is s great university, it is interesting to study here, but I tend to believe That some people might me Too smart even for that

University or they might be so unable to study in a normal way, that they decide to do everything From scratch themselves, to try their luck [Strebulaev] when I study all unicorn founders (the cost of their companies is at least 1 billion dollars)

And there are approximately 2500 of them in the US A very little part of them – 50-55 people – are dropouts They had enrolled at some big universities – Harvard, MIT, Stanford – but instead of graduating they founded their startups. In reality the are the minority,

That’s why I don’t recommend dropping out to my students [the host of the show] Theranos is a combination of the words “therapy” and “diagnosis”, all tests ever created are made with only one drop of blood [Ioannidis] I passed by their head office because

I live in the same district and I saw their name on the logo and it seemed interesting to me for it had something Greek in it, I know Greek and it reminded me of Greek words τύραννος (a tyrant) or θάνατος (death)

[Gardner]Of course, the commercial activity of the company wasn’t connected to therapy, it was diagnosing, not therapy, but they chose to keep that name Being only a freshman, Holmes won the right to perform laboratory works with the graduates,

And then to become an intern in the Genome Institute of Singapore. In Singapore Holmes was studying the analysis of blood samples in order to find traces of the coronavirus SArS-1, not the one you might be thinking about. Yes, this epidemic broke out in 2002

In South-Eastern Asia. As she herself told The New Yorker, a hard process of taking blood samples made her think about technological optimisation of that procedure [Holmes] Over the last 11 years, we have made the laboratory tests possible to be done

With a discount from 50% up to 90% we have made possible to run complex lab tests, using a tiny sample or several drops of blood taken from one’s finger and we also have refused to use test vials for blood and replaced them with tainers

[Kopf-Sill] I knew one of the chancellors of of her company and that man offered me to become a consultant in Theranos because I was a researcher in the area of hydrodynamics and was finding a way to create a diagnosis device

That could use only one drop of blood I was sure that it was going to take at least half a year to figure out how the blood would get into this device and to find a way for this machine to work properly

But Elizabeth wouldn’t hear a single word about it, which is why I decided not to be their employer [Ioannidis] I was pleasantly amazed by the fact that they were trying to develop medicine, that they were planning to massively use the technology that

Allowed to analyze the results of blood tests 100 times more effectively. What’s more, they needed only a little amount of blood, and the procedure itself would take less time theoretically, it all sounded tempting, and I thought I could

Bring them the results of some tests we run with my team, that it could be of some use, but then I started figuring out what scientific proof their activity had and didn’t find any scientific research done by them, they didn’t have

Any articles or anything written that could explain what they were doing on a scientific language [Kopf-Sill] She talked to hundreds of people and among them there were many who were just shaking they head and saying, “no, there’s something wrong

About that”, there were those who claimed the project was absolutely great, that they liked her idea. So she continued maintaining acquaintances with them then she found more of such people, they were telling others about her project, some would immediately reject

Her ideas, some considered them wonderful, she felt if the people were ready to listen to her and to praise both her and her project, and the circle of such people was already growing itself, but, as you know, Phyllis Gardner who you’ve already talked to,

Being a Stanford professor, had been doubting the success of this project since the very beginning and she didn’t trust Elizabeth. [Yegorov] Elizabeth Holmes will find a reputable, even legendary man in the world of science who will believe in her – but in Stanford there was another

Professor who was actively promoting Elizabeth’s project, I think it was him who manage to attract several investors. Yes, the professor I’m talking about is Channing Robertson – I just can’t

Believe he would do that – Would you give money to sich a woman? – If I had I would’ve done it= Why not? she is smart, she was a student of Stanford, her idea is supported by a leading Stanford biologist who was teaching her, she sounds

Persuasive and there is a charm in her obsession and her youth, there’s something that you want to like about her – You know, I have always been thinking of money as an instrument that allows me to change something so I didn’t found my company

Only to earn money, my goal was to create something valuable and money is just a side product of creation of this value – If we analyze the career and ideas of Channing Robertson himself, they didn’t bring him commercial success, he was more known

As a witness, as an expert for the court, for such a work people demand a person who can talk well, because this skill is the most useful for experts, they need to persuade the jury they are truly experts, but the main reason for Channing

To support Elizabeth’s ideas was a rapid increase of Stanford’s popularity in Silicon Valley, as well ad the statement that could turn out to be either a blessing or a curse: that in Silicon Valley, everything is possible=

– We are a private company, we have a little number of investors, because we like keeping it all private. We think there are many advantages in it, our investors are quite experienced – “It not what you know, it’s

Who you know”. A saying that was allegedly said by the John Rockfeller perfectly illustrates Elizabeth Holmes’ business. In 2011 she met the former US Secretary of State Geoge Schultz, soon after that he became a member of Theranos’ board of directors, his connections

Would bring there a legendary diplomat Henry Kissinger, two former heads of Pentagon, a famous banker. With that investment Theranos became popular. Even the richest family of America, the Waltons, who own Walmart, had invested 150 million in it, a mediamagnet

Rupert Murdoc had invested 120 million, and a former minister of education and a member of a millionaire clan Betsy Davos had invested 100 million in Theranos – What’s interesting is that all capitalist women who are specializing in biotechnology and who I’ve talked to –

I have an opportunity to talk to more than a thousand female investors, including many bitechs. I usually asked them if they had been thinking of investing in they answered yes, than we analyzed the company and, as a result, didn’t invest in it

If we look at all the investors in Theranos who were with them on the latest stage – actually, on every stage – then we see that two years after they had raised their angel money people realized they were non-professionals, they could

Be famous, for example, Robert Murdock of a former US Secretary of State, etc. but they are famous for completely different things, they are of some other area, those are the investors that know nothing about this startup – Frankly saying,

Rich diletants were investing in Theranos – You’re right but, obviously, when I say they’re dilettantes that doesn’t mean they are dilettantes in everything Of course, the former US Secretary of State or Rupert Murdock are not dilettantes, this is absolutely

Wrong but when it comes to investing in startups, which is a whole other story, even if you’re an expert in finance, a professional known on traditional finance markets, even them you can be a dilettante if you decide to invest in a startup

– Hear me out, they knew nothing of the technology that was the base of the product, I think they were attracted by the myth, by the idea itself. In the US this usually happens to people who have reached the peak of success and they have

So much money that they become interested not in an opportunity to earn even more but in an opportunity to be a part of something that seems prestigious or captivating. For instance, Jeff Bezos chose creating a star ship to become Elon Musk’s rival

For those men it was a rocket that would fly to Mars, for others – a thought of going to a banquet and telling others that they were helping this young blonde to start a revolution in medicine. This is a story that can be shared, it sounds incredible,

It helps them make a right impression on progressive liberals – I must say I was happy to be here with you, sitting here with George. It is a big honor that he has become a part of our company, that we can learn something from him

– I suppose there was some connection between them but I don’t think they saw her as a daughter or a granddaughter. I think it all was very politically correct. They supported a young talented student who had come up

With an idea to change the system of health insurance in the US – It all was very strange: a woman entrepreneur! This must’ve been something great! It seems to me she just used such a perception of her,

I don’t know if it’s true but as far as I am concerned sexism is still very common in Silicon Valley – There is one thing that was peculiar to me back then: I saw her with David Boyce, who is her advocate,

At the moment he was the most popular attorney in the US. I also saw her with George Schultz, a former Secretary of State and a former minister of finances, who was more than 90. Amazingly, he felt comfortable with both of them. She felt so comfortable, that

I found it strange, because she was invading their personal space without any shame, she always stood really close to them. It’s impossible in the American business culture, especially when a young woman does that – I have a feeling that the majority of men

Just felt for her. What, isn’t it true? They were old white men. I don’t like saying such things but I have said that many times: they went absolutely crazy – Was it a story of a woman enchanting men?

– No, of course, not, there’s nothing trivial in that story, I think that it were the men who invested in the company because they had money because the idea lit them up and they believed that she was truly hoping

To change something. I don’t think there is something plane in her case and the fact that she managed to fool that number of smart men for a very long time makes her unique anyway – but neither Holmes’ connections, nor her charm

Wouldn’t transform Theranos from a startup to a company worth 9 billion dollars without the idea of a quick and cheap blood test made with a sample from one’s finger reaching the most painful spot on the body of American healthcare – People don’t even know they have

A basic human right to get an access to the information about themselves and about their body which can change their life. Every person must have a possibility to take such a test because if you know you’re in danger, you can do so much more

– Theranos claimed they were an innovative company that was on the verge of presenting a very cheap test, they claimed that their prices were the lowest and they actually were lower than the market price of different tests – Let’s give this story some context.

What was happening with the American healthcare at that time? Why is it so important? – The same things that are happening now were happening before. First of all, it’s extremely expensive. It’s more expensive than in Europe, for example. Secondly, either many people don’t have

A medical insurance of their insurance is not enough to cover everything this means healthcare for them is very expensive, it’s a huge problem of the American society – Hospitals charge the patients with enormous bills and receive hundreds of millions of dollars, excluding

Their so-called non-profit activity. They need to treat the poor but they try not to do that, this is one of the problems I dealt with, along with Elizabeth Holmes – We spend money and resources on that but they aren’t distributed equally, some

Don’t have access to healthcare, while others receive too much of it – Well, yeah, they caught this wave, they appeared at the right moment. They were lobbying the politicians who were in a good personal relationship with the Clintons: with Chelsea, Hillary and Bill. Elizabeth performed together

With Bill Clinton on the conference of the leaders who stated that she was the future of the healthcare – When you founded your company 12 years ago, how old were you? – 19 – Don’t worry about your future, we’re in good hands

If even one of the venture biotech investors – and hundreds of them were thinking of Theranos – if even one of them had believed them and had seen the results of their tech work, they would have a wave of investments from professional

Investors because the market is, of course, large let’s forget global markets and think only about the American healthcare market I think there are tens, if not hundreds billions of dollars there – In 2015 Theranos signed a contract with the biggest chain of drug stores

Called Walgreens, this was a final push that could transform a startup into a gigantic corporation, just like Tesla and Apple – Well, in the USA there are 8200 Walgreens. Thus, we could be located 5 miles away from every America’s home and this is what we’re

Working on – Of course, her contract with Walgreens was the peak of her manipulations when, not checking the lab results and not seeing the FDA qualification paper, encouraged others to give money to her and signed a contact with her The same years, being considered the youngest

American billionaire, she got into the list on 100 most influential people, according to Time magazine. Biden, a vice president then, visited her lab in Palo-Alto and called Holmes a source of inspiration – There was one problem. The main Theranos’ knowhow, that wonderful device,

A mini lab that could process the result of the test on spot was actually a dummy Out of 200 claimed tests it only did 15, and all of them were inaccurate. By the way, this device was named Edison, after a great American

Inventor who used to say: “I couldn’t stand losing, which is why I have found 10 thousand ways to solve this problem that doesn’t work” – We named our product Edison because we were ready for the situation that we would fail 1000 times, but on the 1001st try

We would make this thing work and I think that this was our motto throughout the whole process. This shows we have decided to continue trying and to achieve a proper result no matter what – I was asking her: “How does your invention

Work? What parts does it contain? What is its main feature?” I don’t remember accurately what exactly she was saying bat all her answers were abstract. She said that they were installing different components in the project etc. I couldn’t even draw a scheme of their

Device. I had an impression that they actually didn’t create anything at all, there was nothing specific she could tell me, she, of course, explained that she didn’t want to reveal all the secrets but if you want my help I must understand

What are you doing – It was working just fine, We had 2 versions of it. I think there was a device 3.5 at at that moment which did some immunochemical tests and then there was a four-stage platform we were working on

That could work with a wide list of testing methods – it looks like a printer. I think she took the wrong chemicals. She knew the device wouldn’t work. Do I agree that in the future someone will be able to do

Something like that? I don’t know. But I’m sure that their device didn’t work. She was telling everyone that they just needed to poke their finger and get a test result in only several minutes. This was wrong. – For example, we send each

Of our tests to the FDA we consider it important to be qualified for doing such a work and I think of it when my mom is having some of her blood tests done somewhere and every single time I want to know there won’t be any mistakes

– the FDA approved only the herpes test which was presented by Theranos as a grand, yet actually Pyrrhic victory – This all was in a basement and looked like old Apple Macintosh computers, those were black boxes, most of them had a

A false protocol running on them, which was written by my friend Michael Craig. These were fake programs In summer 2013, Sunny said than soon we’d have rows of Edisons working 24 per 7 and the whole chain of mini labs producing data

He also said that Siemens machines were prehistoric because he was convinced that Theranos’ technology was much better. Later, I discovered that all of the test results shown to the investors and to the board of directors were fake and Edisons would break often and used to have

A low level of thermostability, the pipettes would break and we had to make 6 new measurements to get an average that would’ve been at least somehow close to the truth – when the investors were nervous and when the projects weren’t done when needed Elizabeth

Reminded then that nobody had ever done the same and the creation of something genius always required time but they were, however, so close to their goal and it would be a pity if they didn’t invest in it because the business would go up

And they’d become rich. She asked them just to wait a little bit more because they had almost completed everything – I was tricked by her, as well as many others including Kissinger and Schultz, the members of the Directors’ board and many investors

Of Theranos, they collected almost a billion dollars from naive investors that didn’t organize a thoroughful inspection of the company they blurred the minds if the patients and later – the assembly of Arizona when they were lobbying for making the laboratory test possible for patients

Without a doctor’s note – A right to take lab tests freely and let people care about their own health themselves – The future debunker of Theranos Adam Rosendorf would be hired in 2012, not long before Theranos’ triumph

– I was thinking about quitting a research job I was doing in Pittsburgh, back then I was working at a local child hospital, my career wasn’t going as fact as I wanted to. Maybe it was the end of 2012, I was reading Steve Jobs’ biography

Written by Walter Isaacson and there I read about the revolution Jobs made in technology, in the world technology sphere, inventing and upgrading the products that would help people live better. It’s interesting that when Elizabeth was tried, her attorney

Was waving his hand with Isaacson’s book and attempted to make me think that Theranos was a truly innovative enterprise, which was, of course, absurd. In general, I contacted one of their branches, with one of their recruiters, and they answered me immediately. They asked me

To go to California in 2 weeks. Back then there was winter in Pittsburgh, было глубокой зимой в питтсбурге, there were drifts that reached my knee. I barely could clean my car near the house from this snow and then I arrived in sunny California. I was fat

And pale and I was dressed in a wool suit. I saw hills and a beautiful building made of glass and concrete. They didn’t have any signboards, only a little sign saying that there was a company called Theranos, and their logo. Near the entrance I saw two

Guards, they immediately told me to sign a non-disclosure agreement, which I found strange, because I didn’t even know anything about the enterprise, I didn’t come there to steal their secrets. I looked through several patents Elizabeth had registered with her colleagues,

They seemed interesting to me, they were related toь to the remote data transmission, micro hydrodynamics, optics and chemistry. All she wanted to know was whether I could keep secrets and be loyal. This was also strange. I had never been asked such questions on any job interview.

– All actions performed on the computer were tracked. Miss Holmes had mad e everything so, that we couldn’t discuss the inner company things. Even when I talked about the former employees and asked them about their life they saw it as some

Closed information, like, “listen, we heard you have interviewed a person who quit and you’d better not repeat such mistakes” – We all were naive and we didn’t understand how a business should be made, which is why we though that such secrecy was normal.

We thought: “Is it a fraud? Not really”. We considered it just fine not to tell people all the details. Those were the instructions from above and we all were afraid to speak freely because they would have fired us immediately The main Theranos’ engineer Ian Gibbons

Was hired by Theranos in 2005 and in May 2013 he committed suicide. He had cancer but it’s also vital that on the day before the tragedy he had to give testimony about Theranos’ patents. The company sued the family of the doctor Richard Fuisz, a father

Of our interlocutor. Theranos accused the Fuisz of stealing a patented technology. The case was closed with an amicable agreement. According to the widow of Ian Gibbons, he was nervous and didn’t want to participate in the trial. After his suicide Elizabeth Holmes immediately demanded

That his widow returned the company its work laptop – First of all, I talked with Rochelle Gibbons, she said that Ian killed himself because he had to swear on the Bible amd say that Elizabeth was the author of all her patents but

She actually wasn’t and he didn’t want to lie because if he had lied, well, if he had told the truth Holmes would have fired him she actually fired him once but every single employee was against it, all his team

Was going to quit to show the protest, that’s why Holmes got him back but changed his job to working with the documents – Theranos’ ex-workers said that toxic relationships as well as psychological pressure had been there

From the very beginning – Did the investors draw their attention to it while thinking of putting money into Theranos? How much of a red flag was it? – It was a huge red flag, Alexey. Not because the investors are very nice

And kind. If we take a look at the statistics then we can see that startups usually go bankrupt and fail not because they don’t have money but because there is a starter team the members of which start arguing

And throwing tantrums at each other, they can’t live together and venture investors know that, they spend much time on that – especially when they see two founders or a founder and the team they created a startup with. They usually spend a lot of time

Analyzing the relationships inside that team Some venture investors even hire psychoanalysts, so that they meet the founders or the early team because they know that without human effort the startup will definitely fail – Not long before the launch which was

To take place in October 2013 I came to Elizabeth to say that technical equipment wasn’t ready. She was out of her mind, she was nervous, she was nervously tapping her fingers on the table. It was strange for me to see how she couldn’t

Be calm because Elizabeth know I had the power to close the program – Adam Rosenberg – as far as I understand you’ve interviewed him – said that when Holmes received a certificate from Siemens she hanged a locker to the rooms with

The Edisons and started running all tests on Siemens machines. She didn’t say anyone about it. Theranos were diluting blood samples, which is restricted, in order to get an accurate result. That means that some of the results are possible to get

With enough accuracy, but the majority aren’t it’s obvious she was told not to do certain blood tests, for example, connected with blood coagulation, with thrombogenesis as this is a very sensitive test. Even a slightest mistake can result

In a false diagnosis, which can lead to death from bleeding or from a blood clot, this is extremely dangerous, as well as experimenting with the level of potassium wrong test results and wrong treatment can lead to arrhythmia or heart

Stopping. Many had suffered from that, for instance, people with suspected cancer received a devastating verdict. They thought they had cancer and got scared to death, having received wrong test results. O don’t know what she was thinking about

– i wrote an article for a magazine of the American medical association There, I paid attention to the fact that this company had no scientific research with the reviews that would support all their claims. In addition, working with many

Blood tests during a short period of time doesn’t make much sense in the terms of preventive medicine and I decided that I needed the whole scientific world and society to know about this This new project had the highest rating among

Similar ones but as for 9 billion с dollars only for a presentation… It costs only 9 dollars, not 9 billion and some scientists – in my opinion, they were good in conducting medical research – believed me. They agreed that it couldn’t be left without

Drawing attention to it because they decided that I was unreasonably calling out the heart of Silicon Valley, the most progressive company around. I think many consider Silicon Valley a hub of breakthrough innovations are likely to support the company that has

A genius idea, rather then some professor and a methodist who put 2 and 2 together and said there had been no evidence of its genius. – As the time passed, it became clear that the test results can’t be reduplicated

You make a row of tests on one sample and in every case you get other answers. I was terrified Pregnancy tests weren’t working, I said: “Guys, stop”, the nodded, stopped, said that everything had been fixed and I believed them, I really did trust them исправлен

But they betrayed my trust… Sorry, I’m sorry, yes. – But confirming pregnancy is easy, there’s nothing difficult to do during this procedure – The main problem is in the real figures, they had tests where the hcg value differed by 10, 100, 1000 times subsequently

They told pregnant women they weren’t pregnant, they told absolutely healthy pregnant women they had a miscarriage. In the end, people stopped trusting the results of Theranos’ tests. They knew that up to some point it was an experimental method. We took

Blood from the vein and sent it to the quest. We compared our results and the results of Quest and Labcorp and they weren’t the same. Then Elizabeth and her brother Christian actually asked me to lie to the patients and make up the reasons that

Could explain the difference between the test results. The environment began to turn more and more awful and I felt like I was violating Hippocratic oath Over and over I said them that it all was wrong, I was in conflict with

The heads of the company on a daily basis. All of it is present in the emails that were shown on a trial as physical evidence. It’s obvious, the other problem was that I couldn’t even find a similar job. Life in California

Is expensive and my parents would have been shocked if I quit. I didn’t want to go back to New York and to live with my parents Looking back, I understand that I could have worked at Mcdonalds

Or Starbucks, could’ve rented a room and everything should have been fine. That doesn’t make an apology for me, but I have always tried to act honestly. So when it all became unbearable I quit – By 2015, when Holmes signed a historical deal with Walgreen drug stores

The number of complaints had reached the critical level. Their partners and investors finally started asking them questions, the authorities had several reports of Theranos’ methods’ doubtful effectiveness but the main strike was done by the main US business magazine The Wall Street Journal

– The Wall Street Journal revealed the results of its research. It showed that Theranos didn’t only have a scientific evidence of the effectiveness of their methods. They didn’t even have their own machines, they didn’t run any tests that had been claimed to be done.

A former Theranos lab assistant Tyler Schultz, a grandson of George Schultz, the famous former US Secretary of State and a member of the directors’ board. Tyler was one of the first who tried to speak out about the problems

In to laboratory to her own grandfather and the laboratory, and then we wrote the the NY state regulators. – We all knew a secret the whole Theranos knew: there was no such technology at all – Erica Chan was also

A lab worker at Theranos, just like Taylor, she also contacted some control departments, and her request was the reason why they came to inspect Theranos Later, when there was a trial concerning Theranos’ case Chan would say that the results of blood tests

Done on Edison were as accurate as flipping the coin. During the trial Erica spoke out about how people connected with Theranos had been following her for several months but the main informer of Theranos’ case was Rosendorf, the head of the lab

His key role in the destruction of Theranos would come to light only right before the trial started. The former head of the lab had already started helping the investigation to go further and couldn’t reveal his name. According to his words, he was the one

Who told the world about Erica Chang and Tyler Schultz because Rosendorf told the author of the debunking article published in the Wall Street Journal and later the author of the book about Theranos John Carreyrou about them. – My last day at this job was not long

Before Thanksgiving day in 2014, then they started following me with their calls, emails, text and voice messages. Here the lawyers from Boyce and Schiller entered the arena David Boyce was Harvey Weinstein’s attorney whose client was accused of committing sexual violence

He is also an attorney of big tobacco companies. He also was a personal lawyer of ELizabeth, the main lawyer of the company and a member of the board of directors. I was asked: “Maybe you’d stay, after all?” and I answered:

“No, no, my reputation is not worth staying” “Then my reputation is not worth keeping you here” then he invited me to another room, called a personnel department worker and made me sign a statement that I wouldn’t leak the information anywhere, because it was kind of

A cover for them and Sunny said: “Look at this guy! He is just a pizza delivery boy, we took him from the street!” If not me, if not my work, their effort would have been in vain, they couldn’t have even

Started the company, I wanted to end all this and they knew it. I quit and told the magazine everything. Somewhere around that period of time Elizabeth was going to create Ebola tests in her lab. I was the last one to know about them. Those tests

Require analysis of a biologically hazardous pathogene which has the level of bsl4 or bsl5 I sent her a letter in this regard: “I heard you plan to bring Ebola in the lab. Why didn’t you inform me about that? The safety level

Of our lab is bsl-2, so the only protection we use are hoods and masks”. As usual, she answered that her company had plenty of branches and she wasn’t obliged to tell me what they were doing.

In the very first paragraph of the article there were my words – they couldn’t publish it without any quotes of real people. Nobody wanted to be quoted and directly mentioned Everybody was afraid they would have to face Boyce who was suing literally everyone. I said

It wouldn’t happen to me, because I speak only truth They agreed that a person telling the truth couldn’t be sued I asked them what they wanted me to say and I asked the question about how well Holmes knew about engineering and medicine.

I answered that her knowledge of medical engineering were at the beginner’s level, she was only 19, she didn’t know anything about medicine completely – The day when this article was published Elizabeth Holmes said a word on a business channel CNBC

Commenting on the article but she failed to explain herself. With every single question of the host her genius disappeared into thin air – The article was harsh but we’re not that simple here, in MadMoney Each medal has two sides.

Specially for you, Boston is broadcasting the meeting of Harvard Medical School Council to answer all the accusations mentioned in the article – Miss Holmes, we are glad to see you – It happens when you’re eager to change something.

In the beginning they think you’re crazy, then they try to fight you and then you suddenly change the world. I have to say I was shocked by the Wall Street Journal’s decision to publish something like that, all the sources they were talking to

Said us that their alleged statements are false. – Even the timbre of Elizabeth’s voice changed As usual, she was trying to talk in an unnaturally tow voice but, moving towards the end of a ten minute long interview she lost control.

– After the investigation of the company’s case began they hired a lawyer from a law firm McDermott Will & Emery that actually helped them delete the database of the lab information system, or, at least, they were accused of doing that. Meanwhile, this database

Could serve as an evidence to the fact that the test results were inaccurate. The majority of data there was generated with my help, including many research on the reference range of accuracy. It all was done just to make the test system

Work. – Elizabeth Holmes’ business collapse like a card house, the drug store chain Walgreens stopped being a partner to Theranos, a state regulator warned everyone that the tests were dangerous. – There were several investigations started against Holmes and her business partner

Sunny Balwani in 2018. It 2021 Theranos was permanently closed after several problems arose. Elizabeth Holmes was to be tried by jury – She was so self-confident while in court, she was well-dressed, she had a messy hairstyle but she was

Sitting straight like a stick all the time and was looking at me unfriendly from time to time, thinking: “How dare you say that? This is all a lie!” – In court she tried to seem a little and shy woman, she was also holding

Her mom’s hand. This looked weird, I’m sure he planned all this with her lawyers beforehand, she needed to make people think she wasn’t guilty, that others took control over her, that she didn’t decide much herself – Holmes would claim that she didn’t make

Her decisions herself, that she was a victim of psychological abuse done by her male business partners – But this was an insult for me and for other women who are engaged in technology. When she needed it, she made an impression of a cool boss

But when she needed to defend herself she said it was all men who made her do all that – They’re holding hands. This is of those classical textbook tips the lawyers give on how to behave yourself, how to dress, with what face expression

You need to look around – Firstly, the unexplainable mystery of this story is the source of money Elizabeth paid for her defense. This was 30 million dollars. I don’t see how it could be so, but it is stated in the documents attached to her verdict

Her lawyers used to come to my house and it was awful, they literally broke my doorbell. One morning I though that they’d definitely come for me. You know, it was impossible not to be paranoid because they claimed to have close

Connections with the US army, to have drones and stuff. You know, the American military has unlimited rights when it comes to spying on people. They can arrest and even kill others. Those tales of Theranos were lies, even though Elizabeth actually

Had a relationship with a real hound dog Mattis who gave a testimony during the trial – A veteran with many medals was a member of the board of directors and at some point he started asking her very accurate questions somebody else had prepared

For him. For instance, there was this question: “Which state control authority approved Theranos’ products?” Answering to him, Elizabeth wrote him a letter consisting of 17 paragraphs. Some of them were only one sentence long. Of course, I’m not an expert in all the control issues, but,

As far as I understand, she didn’t lie but her words could confuse people, she made her phrases the way you started thinking that everything had actually been approved. She was talking about her meeting with the head of FDA and you thought that she actually

About the quality. You were pushed to a conclusion that they were doing everything that was needed to be approved and checked but it wasn’t so. – On 18 November 2022 the court of California sentenced Elizabeth to 135 months

Of imprisonment, which is more than 11 years. Besides, he has to repay 121 million dollars to her investors. – Federal Sentencing Guidelines, the main principles of sentencing would agree on the sentence of that kind when it comes to a big amount of money

Nd in this case I’m not surprised at all. I knew she would be jailed. – 11 years and several months was the least sentence she could get, according to Federal Sentencing Guidelines. She got to lowest. – She tried to flee

To Mexico, she got pregnant twice, bought a one-way ticket to Mexico to go to a wedding. Who would buy a one-way ticket to attend a wedding? – Don’t you think that her pregnancies were planned in advance? – Oh yeah, her first

Strategic pregnancy started right before the trial took place, and the second one started right before the verdict. That’s why this is not the case of a loving mother that suddenly wanted to have children and I don’t think these pregnancies really did play

A big role in the verdict but who knows that? – As for as I know, she had a motto “Divide and rule” and a husband and children weren’t a part of her plan. I don’t know why she decided that a pregnant woman

Wouldn’t be jailed, look how many pregnant women are in prison now! – Were there people who supported Elizabeth? – Obviously. Some think that she created a great project, founded a big company but had troubles leading it. There are thousands of people like that

On Silicon valley and all around the world – I was in agony, I was torn apart, I wasn’t lucky at other companies, they just didn’t want to talk to me because of my previous job, but, thank God, now I work at Millennium Health,

I was lucky here because I didn’t violate the rules of medical ethics and they didn’t put the blame on me for working at Theranos – I think she is a psychopath and this made an impact on her sentence and played a role

In her failure because she couldn’t put up with it and step back. If she acknowledged her guilt in the beginning she would be unlikely to be sentenced to 11 years of jail. She would have gotten off with only two and it would’ve been enough for her,

She could’ve been raising her children peacefully but she didn’t even accept this outcome because she can’t acknowledge her guilt for the things she has done. On the Internet, there is a proof of the fact that she was creating a system of diagnosing children, including

Autistic children and I think this was outrageous In Elizabeth Holmes I see a person that has brought pain to many people and didn’t express even a bit of regret. On the contrary, she is proud of the state she’s in: “I have paid

30 million to my lawyers, I will bear children, I will do everything to avoid being punished!” This is why I can’t forgive her, I just can’t. I don’t think she deserves it. Judging by the range of symptoms we can find

In psychiatry textbooks she has dsm-5 of something from the psychopathic spectrum, so there is a high probability that she is a psychopath. It is a person that has a pathology in a certain part of brain that is responsible for emotions and the main

Emotion, a basic one, that makes us human beings is fear. Those who are psychopaths don’t experience fear, they don’t see it. On the one hand, she doesn’t feel sorry for anyone because she doesn’t see that emotion,

She doesn’t understand what is it like to sympathize with someone this is a result of a permanent change in hypothalamus On the other hand, she is fearless herself and even when her situation was critical she behaved really calmly and very ambitious. She definitely has something

From the dark triad which includes manipulativeness, psychopathic conditions and machiavellianism which is an ability to reach one’s goals no matter what. This is a principle created by Machiavelli in 17 century: “the end justifies the means”. People need

To learn to lie and they can do anything. This dark triad is clearly seen in her, in her personality, but in order to know that a clinical research is needed because otherwise it’s just a speculation

– a one hundred percent liar that doesn’t understand the concept of conscience. She had a terrible childhood because of the fact that she tried to live up to her parents’ expectations and grow up successful this doesn’t justify her actions, at some point

She believed in her own lie but at some moments she probably understood she was acting wrong. There are SMS messages of her and Sunny that were implying that they knew and understood everything – Do you feel sorry for her?

– It might seem strange to you but yes, of course, I think she deserved what she has got and I think everybody should be punished if they do something, but somewhere deep down still feel sorry for her. She has

Two children, to be accurate, one is about to be born I would’ve been devastated in that situation – Do you feel sorry for her? – No, I don’t because I have many students who want to change the world and though

Not all of them will manage to do that they really want to do something and present truly thought-provoking ideas and I’d like them to see real success of Silicon Valley entrepreneurs before them, people that everyone talks about but at the moment

Holmes had overshadowed many of them not because what is happening in Silicon Valley but because of all the buzz and I totally understand that We all have been discussing the importance of healthcare and this was the reason Theranos was so famous

In the beginning and then this story turned scandalous because people were counting on them, while Holmes and people who were also engaged in this fraud used the people, used their hopes, so… I don’t feel sorry for her

In March 2022 Elizabeth Holmes gave birth to her second child. She must show up in prison on April 27 if the judge will allow her to be free until the result of the appeal becomes clear.

редакция,пивоваров,алексей пивоваров,редакция пивоварова,мошенничество,элизабет холмс,аферистка,афера,элизабет холмс сериал,элизабет холмс фильм,элизабет холмс приговор,элизабет холмс суд,элизабет холмс и ее муж,элизабет холмс сейчас,элизабет холмс история,элизабет холмс фото,элизабет холмс родила,научные открытия,наука,элизабет холмс интервью,силиконовая долина