Elizabeth Holmes was most famous, well until her fall, for being the co-founder of a company called Theranos, which sold technology to the pharmaceutical industry. In 2015, The Wall Street Journal published an investigation titled “Catastrophic Breakdown in Wall Street’s Hopes” in which it said it learned a lot about Theranos, which was much larger than what Holmes claimed. Holmes, the co-founder, denied the report and the scandal caused the board to oust her from the CEO post. This cleared the way for company founder to be put under criminal investigation by the FBI.
Elizabeth Holmes, the most famous, infamous and brilliant serial liar in the tech world this whole time, is on trial in Texas. Rolling Stone sat in on the first day of the trial as she made the rounds of the media to tout what her new plan for Theranos was. A whole bunch of journalists sat in the courtroom and covered everything from her and her lawyers preparation of her defense strategy to her winking at the media when her lawyers wouldn’t turn the music down.
As Holmes sat at the defense table working on her notes, Rolling Stone witnessed her cackle away at the reporters in the front row. At one point, the jury was shown a clip from one of the videos her lawyers showed during her defense. It was one of those “what if” videos. The one in which Holmes appears with a gun in her pocket. It got a room full of stares and groans from the reporters.
Shortly after, Holmes made her way up to the media room for a press conference. She was surrounded by members of the media in all kinds of faces as she made her case for her innocence. She looked nervous, but she did not look at her lawyers, which we kind of liked. She started to talk again and first, she tried to justify her stellar public image, saying that she did not manipulate the media or do anything unethical or illegal, just “genuinely” did not disclose to the public the true state of Theranos at the time. She gave some broad statistics about the progress of Theranos during the time she was the CEO. Then she tried to justify why she had made $800 million since co-founding it.
Then she pointed out that she bought a truck, a yacht, a house with 17 people and went to Morocco on vacation. She gave a “bullet point” of her accomplishments, and then she started beaming.
Holmes fell apart at this point, and people started to turn on her and she started crying. It was a grim scene, and the trial seemed to be going her way for now.
Elizabeth Holmes Falsely Claims Company In 2012, in Real Life
Of course, Holmes’ honesty isn’t known for being perfect. In 2012, she was caught out falsifying Theranos’ financial results when she said that Theranos was three times bigger than what it was in reality. She is also guilty of hiding the fact that Theranos was not doing well at all. This will come into play when it comes to blaming her $7.2bn from the government; the government said she lied to them.
Holmes is a student of “Mortified” USA’s podcast about being unfaithful. She said that she used to be one of those woman who always wore Black. She thought it would make you look harder and better, but it turned out it hurt you more than made you look better. She is taking this opportunity to “embarrass” herself so that she can “clear her name.”
She said that she wanted to be the leader of Theranos and would “lend her integrity to every product we have.” She needs that now more than ever.
People can go see Holmes’ trial, which begins this week in Northern California. This is also the same trial where Apple has been recorded talking about old iPhone models and its strategy for what it wants to sell. Apple said in court that it never asked for the documents from Theranos, though it did release a statement that said it would give it to the government.