Former Silicon Valley star Elizabeth Holmes convicted of four counts of fraud

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During this period, Holmes went from the unknown to the Silicon Valley sensation, which raised $ 4.5 billion in assets on paper, to a vicious failure. Her demise has been broken down into documentaries, books, podcasts, and will soon be repeated in the Hulu television series titled “The Dropout” starring Amanda Seyfried.

Holmes decided to create a more humane, convenient, and cheaper way to scan hundreds of diseases and other health problems by taking just a few drops of blood with a finger prick instead of sticking a needle into people’s veins. She wanted to reverse an industry dominated by giant testing companies such as Quest Diagnostics and Labcorp, starting with setting up “mini-labs” at Walgreens and Safeway stores across the U.S. that would use a small Theranos device called Edison to work better and faster. and less intrusive blood tests.

The concept – and the way Holmes presented it – has enthralled wealthy investors looking to buy an early stake in a game-changing company. Theranos has helped raise more than $ 900 million from smart billionaires like media mogul Rupert Murdoch and program mogul Larry Ellison, as well as wealthy families like Waltons of Walmart and the DeVos clan behind Amway.

Holmes also acquired a well-connected committee that included two former U.S. secretaries of state, Henry Kissinger and the late George Shultz: two former defense ministers, General James Mattis and William Perry; former Senator Sam Nunn; and former Wells Fargo CEO Richard Kovacevich. In her on-stage presentation, she even charmed former President Bill Clinton and impressed then-Vice President Joe Biden, who praised her highly during her visit to Theranos Laboratory in 2015.

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