If you enjoy true stories of crime – who is not ?! – Clear your schedule because two documentaries about the rise and fall of Elizabeth Holmes and her Silicon Valley startup company, Theranos, are set to premiere as soon as possible.
Before you watch the documentaries, get the backstory of Holmes and his multi-billion dollar company. Learn exactly how he and his company became the subject of a lawsuit.
Who is Elizabeth Holmes?
Holmes once described as "next Steve Jobs." Now he faces 20 years of prison for wire fraud.
But we get in front of ourselves. We returned to 2003 when this story began.
Holmes dropped to Stanford University in 2003 to launch the startup company Theranos. The company claims it can offer a better and comprehensive blood test for all types of illness – cholesterol, cancer, and diabetes etc. – without the need for people to visit the doctor's office.
Comprehensive tests can be made without blood vials or doctor's office visits.
Holmes received $ 400 million in investments for Theranos. 11 years later, Theranos was worth $ 9 billion, making Holmes the richest woman in America and the youngest captive woman.
By 2016, Holmes & # 39; lost and his billion.
Technology did not recognize claims
In 2014, employees began to leave Theranos. Come to learn, Edison's technology that the company said was the key to getting comprehensive tests with one finger of the prick, was not as complete as they thought. The company needs to use traditional lab machines until they learn how to make their technology Edison how they claim to be doing it.
This led the Federal Drug Administration to terminate Theranos' right to run blood tests within two years after using a "non-clean medical device." Then followed a fraud investigation by the Securities and Exchange Commission. Holmes net worth became $ 0 when the value of Theranos fell. In June 2018, Holmes and former president and COO of Theranos, Ramesh "Sunny" Balwani, were charged with nine counts of wire fraud and two counts of conspiracy to make US District Attorney wire fraud for the Northern District of California.
Both may face up to 20 years in jail and be fined fine if convicted.
documentary & # 39; Dropout & # 39;
Rebecca Jarvis, ABC News Chief Business, Technology and Economics writers, and producers have spent three years investigating Holmes and Theranos, according to ABC News. The documentary entitled, Dropout is featured in the two-hour episode of 20/20 .
In the documentary, the viewers saw Holmes testifying on tapes that have not been broadcast by those who say "I do not know" more than 600 times. There are also six podcast episodes to join the documentary. There is also a documentary about Holmes & his company called The Inventor: Out for the Blood in Silicon Valley . The documentary is set to premiere on Monday, March 18, 2019, at 9 p.m. on HBO Go and HBO Now. Alex Gibney, an Academy Award winner, teaches the documentary.
With 20/20 and HBO documentary, there is a book by Holmes's fall from the billionaire to a possible prisoner called Bad Blood: Silicon Valley Startup Secrets and Lies by John Carreyrou.