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There is no better story than the young woman at Stanford who dropped out because she wanted to save people's lives.
These days, she's famous and parodied on social media for all the wrong reasons.
This is the nanotainer I developed in my high school chemistry lab.Now, as it turned out, Thanos was science fiction.
People want to know it's 100% accurate, that it can actually do what it says it will do.
Did Ms.Holmes know at the time that Theranos could not do all those tests?Yeah, she knew.
I don't know specifically.I'm not sure.
I don't know exactly.Now she's got a limited scripted series about her in the works.You've got intrigue.
You've got sexual attraction.You've got deceit.You've got fantasy.It's all there.And action. If you are what you eat, what are you?Green juice.Best word to describe you?Mission Oriented.Favorite place to visit?
You're like, who's in there?
I would be shocked if she didn't finish this saga behind bars.
One plus one plus two plus two equals one.
I've been a business reporter for more than two decades.Through the Great Recession, Wall Street booms and busts.In all that time, I've never seen a story like this one.
When I started a podcast called The Dropout, we had no idea how far that story would take us. I'm Rebecca Jarvis.This is the story of Elizabeth Holmes.Maybe to understand Elizabeth Holmes, you need to read her notes to herself.
I am never a minute late.All about business.That's in caps. I show no excitement.I know the outcome of every encounter.Well, not this one.That driving ambition of hers seems to have started early, like in elementary school.
When Elizabeth Holmes was nine years old, she wrote a letter to her father.What I really want out of life, she said, is to discover something new, something that mankind didn't know was possible.
I also want to study about man and his ways.Life is really interesting.I love being with you.It's my most favorite thing in the whole world.Love, Elizabeth.
At a young age, she's asked by a relative, what do you want to do when you grow up?And she answers immediately, I want to be a billionaire.And the relative says, don't you want to be president?
And she says, no, the president will marry me because I'll have a billion dollars.
Elizabeth's family used to have money.She is the great, great, great granddaughter of Charles Fleischman, as in Fleischman yeast.They had a 42-room mansion, polo, safaris.
They bought an island off the coast of Hawaii where Shirley Temple had her birthday party.But by the time Elizabeth was born, that fortune was long gone. Her mom was a congressional staffer.Her dad was a vice president at Enron, the energy company.
And when Elizabeth goes to school, Megan Long runs track with her.And one memory really stands out.
Typically, when you run a race, the thing that you're going to remember is the person who gets first place. But Elizabeth always finished her races last.Everyone would finish the race, and then you'd hear the announcer say, don't cross the track.
There's still a runner on the track.That runner was Elizabeth, and she was determined to do it.
A tutor comes to the house for language lessons, and Elizabeth talks her way into college-level Chinese classes, even though they're not open to high school students.
And she convinced people that, you know, let her do it.She really, she talked Mandarin on the phone to them.And they were stunned.And she got in.
When you look at her high school yearbook page, it says, in 20 years, trying to save the world.Her song, I'm in a hurry.
All I really gotta do is live and die, but I'm in a hurry and don't know
And she picks Stanford, which is kind of an obvious choice if you're interested in becoming an entrepreneur.
Varian, Hewlett-Packard, Sun, Yahoo.That's why it's called Silicon Valley and why it really generated that entrepreneurialism.
And of course, that's probably why Elizabeth came here in the first place.
Yes, I'm sure that's why she came here.
Dr. Phyllis Gardner, a Stanford professor of medicine, has no trouble remembering her.
I met Elizabeth Holmes in 2003 in my office at Stanford.So Elizabeth was brought to me by a person who'd been the former president of Panasonic, saying to me that she was this brilliant girl and she had this wonderful business idea.
She came up with an idea for this blood testing device.And the idea behind the blood testing device was that you would have a sticker on your arm, and this would be constantly checking your blood levels.
And then if you needed to, you'd be able to give yourself an injection of whatever medicine you needed.
The skin is a terrible barrier to go across.And I kept saying to her, it's not feasible. And it just went to deaf ears.It was just a 19-year-old talking who'd taken one course in microfluidics, and she thought she was going to make something of it.
Elizabeth didn't want to be told it was impossible because she loved the idea.So she went to another professor.
Channing Robertson was the head of the department.He never allowed freshmen in this advanced course.And she persuaded him that she was capable of doing it. And in fact, she was.
This used to be my advisor's office, and I would sit here, literally here in the hallway, waiting for him to come back to his office to try to convince him to let me into his graduate research program.
And he became a kind of a mentor to her and said to me, maybe once a century you come across someone like Beethoven.She's a Beethoven figure.He said, she's a genius.
In Silicon Valley, one of the things that people brag about is that they drop out of college.
I was at a point where another few classes in chemical engineering was not necessary for what I wanted to do.
Steve Jobs dropped out of college.Mark Zuckerberg dropped out of college.Bill Gates dropped out of college.
Zuckerberg, Gates, Jobs, Holtz.You just have this sense that there are certain people who cannot be held back
Elizabeth dropped out of Stanford at age 19.She was a sophomore.She had rudimentary knowledge in engineering and no knowledge of medicine.
So one person she went to was this guy, Tim Draper, who was a family friend.He has made billions of dollars from his investments, and he agreed to give her some money to get started.
I ended up giving her her first million dollar check.
Elizabeth calls her company Theranos, which is a combination of the words therapy and diagnosis.
We've made it possible to run comprehensive laboratory tests from a tiny sample or a few drops of blood that could be taken from a finger.
Ultimately, it was to do blood diagnostics and other diagnostics through sort of a Star Trek idea, something that people have heard about since the 60s.
That sample goes into a cartridge, and the cartridge goes into a little box to process.And it can process all kinds of tests, everything from STDs to cancer.
And it's all done from a tiny drop of blood from your finger, not like the needle in our arm we're all used to.
The ability to be able to use a pinprick and test you right there in a doctor's office or even in a battlefield is revolutionary.It changes everything.
She doesn't just want to change medicine.It looks like she wants to change herself.Maybe into Steve Jobs.Steve Jobs with a lower voice.
When she came to me, she didn't have a low voice.She didn't?Nope.Low voice, black turtleneck, and the hype begins.
I got what it takes.I will never break.Always going hard.No matter what they say, man, I got what it takes.
I said, this could be the holy grail.
Now, as it turned out, Theranos was science fiction.
I've asked myself why she was so persuasive so many times because it's just bizarre.She didn't graduate from Stanford with some science degree or PhD.
I couldn't think of anything that was more meaningful than being able to change what people go through when they say goodbye too soon.
One thing that I found after a period of time was that I found that she repeated herself a lot over and over again at TED Talks, on panels.
A world in which you don't have to say goodbye too soon.A world in which people don't have to say goodbye. too soon.
Stories that seemed very heartfelt and very emotional started to feel more calculated.
She was a good storyteller.That's part of her seductiveness, which is why she was able to raise all this money.
And suddenly, investors were willing to do business with a 20-year-old.Mark Zuckerberg took advantage of that, and so did Elizabeth Holmes.
The fundamental difference was that Mark Zuckerberg's vision didn't require you to rewrite the laws of physics.
Investors want to believe in miracles, and she certainly provided that.
By February 2005, she's already raised about $6 million.And she named her device Edison, after another inventor who changed everything.
I think she bought into the idea she was a brilliant entrepreneur that would change the world.And she was like a Steve Jobs.
She had the sort of aesthetic monk-like thing that Steve had going on.I think she played that really well.
I had this image of her as kind of like a nun-like existence.You know, black, quiet, all alone.She lived in the apartment which she wouldn't let me see.She said it was just a one bedroom.The refrigerator just had bottled water in it.
She had a lot of green drinks and all this stuff that I, you know, I looked at and I said, oh my God, I can't.
If you are what you eat, what are you?Green juice.Best word to describe you? Mission-oriented.Favorite place to visit?
My office.One of Elizabeth's most bizarre characteristics was her obsession with Steve Jobs and with the Apple computer, and imitating him and the company.
Avi Tevinian essentially retires as head of software at Apple.He's Steve Jobs' right-hand guy, and he comes out of retirement to advise Elizabeth Holmes.
When you find these ideas that can cut across everything, it's huge.And so clearly, if this could be made to work, then it was going to be hugely impactful.
So you joined the board.Joined the board.She got PhDs from Apple.She got marketing people from Apple who came along.And once one person came along, other people came along.
How she initially attracted them, I think, was they fell into her vision.
She hires Ana Arriola, a woman who helped design the iPhone.
Elizabeth and her reality distortion field had instilled in us that this was a once-in-a-lifetime opportunity to jump ship, and we jumped ship.
Ana may have left Apple, but Steve Jobs looms large at Theranos.In fact, he is the inspiration for Elizabeth wearing black turtlenecks.
We made a decision to expand our test menu.
We didn't know that it wasn't her voice until much later.I think it was at one of the company parties and maybe she had a little bit too much to drink or whatnot, but she fell out of character and exposed that that wasn't necessarily her true voice.
There's an interview with NPR from 2005.You can hear an Elizabeth that sounds different.
No, it hasn't.Well, if I use traditional words to describe what we're doing, it's hard.When she came to me, she didn't have a low voice.She didn't?
Nope.What was her voice like when she came to you?It was just like a typical undergrad student.When I next saw her again was at the Harvard Medical School board meeting where she was being introduced.
She says with this low voice, and I'm like, oh my God.
You know, it's this pastiche, whether it be the turtleneck, the baritone, the swagger, the sense of belief in herself.You're captivated.
This is what it looks like to be young and aggressive and start your own company.That's sort of the definition of a girl boss.You're in charge.
People wanted to believe this story.We wanted to believe that there would be this woman founder, CEO.She was someone that I wanted my daughter to know about, to know about her and to know that she'd started this company.
I had just gone in there with this expectation that I was meeting brilliance.The next Steve Jobs, next Zuckerberg, something like that, was the opportunity to join the rocket ship, right?
I think, in retrospect, I can look back and look at that intensity in a different light.But at the time, yeah, it was great.
How would you describe the culture of Theranos?Justin?
not a lot of camaraderie, a lot of paranoia.
I had no experience with working in the corporate world, so I assumed that what felt like this very siloed, really encouraged not to speak to one another environment was maybe just a typical corporate experience.
They didn't want people talking to each other because they didn't want people to be connecting the dots with each other.
Perhaps because they were already having trouble getting the Edison to work.It's quickly obvious to Justin that this isn't really what he signed up for.
Actually noticing that this person is willing to lie to me about extremely trivial, unimportant things.
One example, he says Elizabeth sent him this email saying she'd already left for the day.
And she was actually just in an office right down the hall from me.
You could see her sending you that email.
So I walked over to her and had a bit of an argument with her.And she stormed after me and said, don't ever walk off on me again.If you've watched The Office, there was a lot of, like, looking at the camera and disbelief.And that was all day.
We were all just looking at each other like, what is going on?
We're expecting people to prick their fingers, which is kind of hard and scary, and then draw blood and put it in a device.And as it turned out, if you screwed up the introduction of the blood into this cartridge, it was game over.Wouldn't work.
It would be inaccurate.Yeah, you would get a wildly wrong result.
How quickly is it before you start to notice problems?
Nine months into it, I was starting to get a little bit frustrated that we would see demos and they just wouldn't work.But some of that you expect, again, from a startup that has a product that's not done, right?
But the problem was it never got any better.I think what she didn't expect was that I would ask a lot of questions and that I would ask tough questions.
She did not want to hear other people's opinions.I was one of the few people that stood up to her.I've told her no on numerous occasions.And I decided to resign.I just literally had nothing I wanted to do with that company anymore.
Hi, I'm resigning.Lying is a disgusting habit and it flows through the conversations here like it's our own currency.The cultural disease here is what we should be curing.
I really truly believe you know it already and for some reason I can't figure out you allow it to continue.Justin Maxwell.
I would never expect that anyone would behave the way that she behaved as a CEO.And believe me, I worked for Steve Jobs.I saw some crazy things.But Elizabeth took it to a level that I've never seen before.
Avi brings those thoughts to another board member.
I said, I'm going to give you a choice.I think that there is a chance this company can make this product work. And I would love to stick around with you, and we probably need to revisit Elizabeth's role and everything else.
Or, if you want, I'll resign.Your choice."He said, Elizabeth would like you to resign from the board, cutting to the chase.He literally said, you ask too many questions.
So Elizabeth is acting like the machines are working.The press is acting like the machines are working.
Are we crazy now that all these people are making a big deal out of it?Maybe we're crazy.
She's called a girl boss, a pioneer, and she's becoming a star.
Please welcome the only person I know who makes me feel like a lazy bastard, Elizabeth Holmes.
This is not fake, teammate.This is just fake.
And like a typical Silicon Valley startup, it is guzzling money.And Elizabeth Holmes seems to know where to get it.
First name is Ramesh.Last name is Balwani.Most people call me Sonny.
Sunny Balwani is a multi-millionaire who seemingly comes out of nowhere to save the day.
Sunny Balwani had made his own fortune at Microsoft and Lotus and he had zero medical credentials.
Did he have any qualifications in the lab testing business?He did not.Or in pathology or anything like that?Not to my knowledge.
And yet he became essentially the most powerful person at the company next to Elizabeth.
I always wondered why he was there, if she held this vision of really impacting the world.I was like, why did she pick him then?He was terse and he was a bit of a hothead.
He brought this ruthlessness with him that the company had never seen.
Sonny has this license plate on his Lamborghini.Seems to be a metaphor for his management style.I came, I saw, I conquered.
We have been working hard to build something which we think is magical.
Then, in early 2010, they get a meeting with Walgreens, the big national pharmacy.
What Theranos was promising, according to Walgreens, was a device that patients could use right at a Walgreens store to get an accurate result for any blood test, from STDs to the earliest appearances of cancer.
We were interested in partnering with Walgreens because of the retail footprint.
The partnership with Walgreens is a huge game changer because Walgreens has these wellness centers, and if they have the ability to test people's blood with a finger prick right in the store, it could change everything.
According to Walgreens, Theranos says its technology has been comprehensively validated and is viable and consumer ready.
This new technology that only required a small amount of blood, that to us was at the moment a game changer.
Walgreens sees huge potential.They think Theranos is ready to go, they understand what this will mean for their business, and they're ready to make a deal for $140 million.
This was a moment in time when the world was impressed with Elizabeth Holmes.She was on the cover of magazines.She was the second coming of Steve Jobs.
And this is how she gets Errol Morris, an Oscar-winning documentary maker, to do these ads.
Are you one of these people that love blood tests?
Everyone wanted to be speaking with Elizabeth Holmes.Everyone was interested in her.So we worked with Errol, and it was an incredible experience.
Well, I was wondering if you would take a blood test for us, which is one drop of blood.One drop?
That's it?How are you feeling?Feeling good.
The reason I got involved in Theranos, and I think Errol did, and a lot of other people, was that we felt like this was something that was going to be a revolution in healthcare and something that was going to help people.
Because that's what we were being told.
Our work is in the belief that access to health information is a basic human right.
This is an inspiring story people want to hear, including Bill Clinton, who has her on stage at the Clinton Global Initiative.
You founded this company 12 years ago, right?Tell them how old you were.I was 19. Don't worry about the future.We're in good hands.
I thought she is a phenom.A $9 billion valued company that she built herself.
She's invited to a White House state dinner for the Prime Minister of Japan.She's an ambassador for the White House business program.
I'm the founder and CEO of Theranos.
I mean, how many 20-somethings are on the cover of Fortune?The article says that she can run 200 blood tests without needing a syringe, but she won't say how.
She wouldn't show any of that.She wouldn't show data.She would call it a trade secret.
And that's when the press coverage really started picking up, and you saw her almost once a week.
Elizabeth Holmes from Theranos.
Elizabeth Holmes.Elizabeth Holmes.Thank you for having me.I am so incredibly humbled.
We did this.These big splashy profiles were kind of big wet kisses.
She did Matt Money with Jim Cramer, Charlie Rose, CBS This Morning.Little tiny tubes, which we call the nanotainers. I mean, on and on and on.
Congratulations on all the success you've had, and I sure hope you win.We cannot lose sight of how much we wanted to believe.
The publicity is one thing, but of all the things that help Elizabeth raise money, the kind of ace up her sleeve is that all-star board of directors.
Her board was made up of some of the biggest names in history.
Hands down, the most important person on Theranos' board is George Shultz.
The former Secretary of State, the guy who many people credit with winning the Cold War.He met Elizabeth Holmes back in 2011.She's a dropout.
She left after her sophomore year.
He then introduced her to all these other aging ex-statesmen.Bill Frist.
I was impressed with the technology.
Admiral Roughead.I just saw this potential that was there and was intrigued by it.
She's got Walgreens.She's got Schultz.She's Kissinger!Come on, Kissinger!
A friend of mine said, your board looks like you guys are ready to take over the world, not start a medical device company.
Just because you can negotiate a Mideast peace agreement doesn't mean you know anything about technology.It's just fascinating.
They just fell for it.Now, why?I cannot say.
What Elizabeth Holmes' gift was, was she was able to take older white men, who were incredibly successful at one point in their careers, and wrap them around her finger.
If you wanted to do something that was a fraud, you would get an incredibly persuasive CEO, a board of directors, but who have enormous gravitas, and you would present a miracle.
Outside Theranos, it is all about this amazing machine.But inside, it's all about secrecy.Many employees can't even look at the Edison.
It was always brushed off as that we wouldn't understand it anyways.We were always asking, could we see the technology?And we were always denied that.
She seemed forthcoming, except when you asked her about, can I see the machine?
Elizabeth Holmes came along at the perfect time.It would not have been possible for any entrepreneur to raise $700 million, even a couple of years earlier than that.She had the whole package at exactly the right moment.
There was this fear of missing out and this idea that if you knew someone who knew someone who put money in Theranos, it must be good.
They were not typical venture capitalists, Silicon Valley venture capitalists.
These were home offices, family offices, or individuals.They were not the type of investor that typically would do substantial due diligence.
The founders of Walmart invest $150 million.Media mogul Rupert Murdoch invests $125 million.The DeVos family, including former Education Secretary Betsy DeVos, $100 million.
I'm seeing things pop up inside of Walgreens, and I'm wondering, maybe it finally works. But I'm still in my mind remembering all these other things and saying, I still don't believe it.I still don't believe it.
She seemed forthcoming, except when you asked her about, can I see the machine?No, you can't.And then downstairs in the basement was the secret place you couldn't go.
Now that they've got the Walgreen's deal, they want the world to know the name Theranos, and they need ads. And she hires Chiat Day, which is the same agency that did Steve Jobs' Apple campaigns.
Elizabeth and Sonny flew to Los Angeles on a private jet and met with our team members.At that time, we were told of the story and her vision for Theranos.And it was great.
The pomp and circumstance around it, it was really like, who is this person?And what is this product?
The first thing that you'll, if you ever meet Elizabeth, that you notice is her voice.
I'm not in a position to do that.
It's extraordinarily deep.It sounded like she was a man or a robot, or both, a man-robot.And so you were kind of struck, so we thought something really special was going to happen.
So Theranos pays this giant $6 million retainer to Shia Day, and Shia Day delivers with a huge and splashy bunch of ads.
Before those ads go live, Shia Day, like all ad agencies, has to protect itself legally, has to confirm that any claims Theranos make are, in fact, true.Otherwise, it's false advertising.
These ad guys actually asked direct questions.Mike, you sent over this claims messaging matrix.
We had spreadsheets with feedback that we were trying to explain to them what type of proof that you needed to get this done.I mean, there were specific claims, like the four-hour claim.You can't say that unless it's four hours.
If you want to say hundreds of tests on one single drop, then it has to be hundreds of tests on one single drop.It has to be true at the time of publication, or you can't do it. I asked, where is the lab in Phoenix?
Just because I was curious where it was.And I was told, oh, we haven't built it yet. But you're doing the tests.How do you do the tests then?And this is great.And then it was, oh, well, we FedEx them up to Palo Alto.
This is a bombshell.Theranos isn't going to be putting its devices inside of Walgreens.That would require FDA approval, which, right there in the fine print, they don't have.
So they take advantage of a legal loophole, and they ship, by FedEx, these samples to a central lab.
Mike and I looked at each other, and there was two problems with that.One was the speed, and the other is, how are you using FedEx to actually carry somebody's blood?It was like, whoa, wait.
And especially when you consider what the promise of the box was.It was portable.You could run tests really quick.I thought they were just going to be in every store, and they were going to do it there.
It was my contention that the box didn't exist, or they couldn't manufacture it. She had said that the box had been field tested in Afghanistan.
And it got to the point where like, okay, maybe this whole thing is some sort of CIA, I mean, and I'm kind of joking, but I'm also not joking.I'm like, what's going on here?
And then Theranos goes completely dark on them.And Shia Day is kind of relieved. People are walking into Walgreens.People are taking Theranos tests.Real patients, real problems.
And you're saying, why is this value so abnormal right now, and am I missing something?
And there's a secret in the Palo Alto lab.
It was ours.And you look up on the curtain, you realize, wow, there's no wizard. Walgreens boots, that's the largest.They have decided that your way is the way to go.
By 2015, Theranos was in about 40 Walgreens stores in California and Arizona.
Access for every person means rolling this out ultimately within five miles of every person's home.
And people weren't just investing their money. They were now potentially putting their lives on the line as they turned to Theranos to test for hundreds of diseases, everything from cholesterol to cancer.
And Holmes says the next step is to have Theranos centers nationwide.When will I have that opportunity to go use a small test like that and find out data for myself?
Working on it as fast as we can.I can tell you our next dates are underway.
One of the new patients was Sherry Ackert, a wife and grandmother, when she began the fight of her life.
I first was diagnosed with breast cancer back in 2013.I had the bilateral mastectomy in the beginning of reconstruction. I had four months of chemotherapy.
I managed well through the treatments and I just kind of went back to life, kind of my new normal, I guess.
The new normal after a patient has recovered or been treated for cancer often involves some form of surveillance testing to check and see if it's possible that something has recurred.
My OB-GYN said, do you want to try one of the Theranos labs?I think Walgreens has a great reputation.So, oh, they're willing to bring Theranos in.They must be OK.
This is the Walgreens where I had the infamous blood draw. They seemed to know what they were doing, and that was that.But things take a really terrifying turn when Sherry gets her results.I will never forget that day.
I saw that the estradiol amount was over 300.I also called my oncologist's office, and the nurse called me back, and she said, I am so sorry.That's not good.There could be a tumor growing somewhere.
That's where your alarm buttons kind of signal more.Because then you're saying, why is this value so abnormal right now?Did something happen between then and now?And am I missing something?
The doctor recommends she go to a non-theranos lab in order to get another test.
It was about a week later, I got the call from my doctor.And he said, congratulations.Your estrogen is basically non-existent.
There's no new tumor, no cancer.The tests were off by hundreds of points.And Sherry says she reaches out to the company and doesn't hear anything back.
No one from Theranos ever called me to apologize.That's the least you can do when you mess up so badly.Not OK.
And it turns out this isn't an isolated incident.Retired dentist Merrill Ellsworth needs to get his PSA level checked to screen for prostate cancer.
My physician said there's a group called Theranos, Walgreens, run by them, get your finger pricked.A normal reading for a PSA test is you want to keep it under four.The results were 26.1.
Very concerning.When you see a value that jumps up that much.
To suddenly be confronted with something that was about 1,300% off normal, that was not the happiest news when I first heard it the first time.
Four days later, at the urging of my physician, I was retested, and lo and behold, the results were in a very normal range.
Out of an abundance of caution, his doctor suggests a third test.
Test number three, which was, again, up in the 20s.Something's not right.
For his fourth test, Theranos takes a tube of blood from his arm instead of a drop from his finger.
Vein draw was 0.95, which was the lowest of the bunch.
It is not normal to get four tests to confirm a result.The accuracy of these tests is incredibly important, and it can be really life-changing.
Over time, the complaints from customers start coming in.What those customers don't know is that employees on the inside are having real concerns too.
Erica Chung starts working in the lab in 2013, and this is your first job out of Berkeley.First job out of Berkeley.At what point do you start to think something isn't right here?
I think the transition happened is when I started processing patient samples.So you basically start out with a base test.Yep.You put that base test in your machine just to say, OK, we know that it's working.We know that it's cleared.Exactly.
And what happened?And it kept failing.I kept running it over and over and over. and how it was handled totally blew me away.
They took out data points, and they said, oh, well, this is, like, the best two out of six, the way that we kind of average things.
So you're saying, essentially, that you were cherry-picking the information.Exactly. Right.In order to make the information make sense.But the thing is, is we were still processing patients.
Meaning those patients were taking information that you were providing to them and making medical decisions.
Right.Their quality controls were failing. At one point, what seemed almost every day, it really ate me up inside.I had a conversation with Sonny Balwani, the CEO of the company.He had asked me, so how do you like working for this company?
I said, I really enjoy working for this company, but there are a lot of problems.We're having a lot of issues with our quality controls.And then he just sort of lost it at that point.
And he's like, I'm tired of people coming in here and starting fires where there are no fires.
Erica and others say Elizabeth and Theranos ignore the warning signals from their own people and forge ahead.
We've been able to serve a huge number of people over the course of the last year and it has been phenomenal.
Elizabeth Holmes is about to face her undoing.No one would believe it if you just wrote the script.The anonymous whistleblower was George Shultz's grandson.
Did Ms.Holmes know at the time that Theranos could not do all those tests?Yeah, she knew.
And while she won't get a Hollywood ending, Elizabeth's story will certainly get the Hollywood treatment.
with Oscar nominee Amanda Seyfried channeling Elizabeth Holmes.
Anybody who doubts my company, doubts me.
Part of the human trait, being fascinated by a train wreck, you can't peel your eyes away.
She looks straight at you.You want to believe what she says.She looks innocent.
Breaking news this evening in the trial of Theranos founder Elizabeth Holmes.The jury has reached a verdict.
Media and spectators from all over the world showing up just to get a look at the infamous dropout, Elizabeth Holmes.
People wanted to believe this wonderful story of a female founder, CEO, doing something that was really going to help people.
I think people were just fascinated with the dupe, fascinated by the fact that a woman could do this.
Throughout it all, Elizabeth has been seemingly living life to its fullest.She started a new relationship.She had a baby.
It's a good way to get sympathy with the jury.
And she's gone from being the talk of Silicon Valley to the talk of Hollywood.
And action.Does anybody here doubt me?
I want to see her in an orange jumpsuit with a black turtleneck.Oh, I just think that would be perfect.
If you have followed the story of Elizabeth Holmes, we all have this image in our mind of a woman with her blonde hair, her eyes are wide, unblinking.She's wearing a black turtleneck.
Well, now it's Amanda Seyfried playing that role as Elizabeth Holmes in a new scripted limited series on Hulu.I'm going to drop out of Stanford.
This machine is going to change the world.What are we going to show at the demo?
We're going to tell them that we don't have a working prototype. Great.
I was blown away when I walked onto the set of The Dropout.It was surreal how much Amanda Seyfried fully embodied Elizabeth Holmes.
If you are what you eat, what are you?Green juice.Best word to describe you?Mission oriented.Favorite place to visit?
Hulu's a division of Disney, ABC's parent company.And the Hulu series is a dramatic version of the Holmes story based on our podcast.From ABC Audio, this is The Dropout.No story comes close to the saga of Elizabeth Holmes.
All these years that I've covered Elizabeth Holmes, She still is this enigma.And people ask me all the time, who's Elizabeth Holmes?How do you answer that question?
The short answer is I have no idea.She's really good at hiding.I think that's part of what makes her so fascinating is that you're like, who's in there?
Here at Theranos, we believe that every person should have access to actionable health information.
They meticulously recreated the office, the lab.So this is it, the office of Elizabeth Holmes, Chief Executive Officer.She had these chairs.
I sat at this desk quite a bit.I can look everywhere and this is their nose.This is an inspiring step forward.How did you get to The Voice?Well, I think it's just mainly, it's my own version of it.
We were beginning to engage with... I listened to the deposition tapes over and over and over again.
Do you swear to tell the truth, the whole truth, and nothing but the truth?I do.It really packs a punch.
Our honor needs no basis.I'm the head of chemistry!Stop!
Now.Naveen Andrews, who's famous for the show Lost, plays Holmes' former business partner, Sunny Balwani.
There's a tragic inevitability about the entire story.It's not going to end well.
Part of the human trait, being fascinated by a train wreck, can't peel your eyes away.
The train wreck for Elizabeth Holmes began in 2014 with an investigative journalist named John Kerry Roo.
I read a profile of Elizabeth Holmes by Ken Oletta in The New Yorker, and one of the things that struck me as off in that story was this notion that she had dropped out of Stanford with just two semesters of chemical engineering classes under her belt and gone on to pioneer groundbreaking new medical science.
He begins his reporting and stumbles on a pretty intriguing piece of information.
One of the first things that raised my eyebrows was that Sunny and Elizabeth were an item.And I was stunned by that because in the New Yorker story, the clear implication was that she was single.
Were you and Sunny Balwani ever engaged in a romantic relationship?Yes.When?
It was concealed from the board.It was concealed from the press.It was concealed from investors.
You think it was intentional that they hid it?Oh, it was absolutely intentional.
Kari Roo digs deeper, contacting a number of Theranos employees, but a lot of them had signed confidentiality agreements and were scared of what would happen if they violated them.
Ultimately, Kari Roo will find his big break in a former employee, then 25 years old, Tyler Schultz.
Tyler Schultz was the grandson of a very high-ranking member of the Theranos board, George Schultz.He's a former Secretary of State.
What Tyler will reveal to Kari Rue is ultimately the story he will tell under oath in a deposition years later.
Did your impression of Ms.Holmes change from the time that you started Theranos through the present day?Yes.
I felt like she was very manipulative.She's really good at telling you what you need to hear to keep going.She definitely did that a lot with my grandfather.She would just like feed him things that were just completely factually not true.
People can come in and do full service laboratory testing with a stick from a finger as opposed to having the tubes and tubes taken from your arm.
Can you recall any of the factually not true things that Ms.Holmes told you?
The big ones are being able to run hundreds of blood tests from a single drop of blood.My grandfather would go get a Theranos test done, and he would have a needle in his arm.You know, it's like, well, I thought this was a single drop of blood.
And there'd be some, you know, excuse about why they needed to take a venous draw for him.But, you know, for everybody else, it's a finger prick, and he continued to buy into that.
When you read the articles, it sounds like the tests were being done in Walgreens, but they're really sent to Theranos, and then most of the tests were being run on third-party machines.
Did Ms.Holmes know at the time that Theranos could not do all those tests?She, yeah, she knew.
Tyler tries to voice his concerns directly with Elizabeth, but he's told in this aggressive email that the concerns are unfounded.And that email doesn't come from Elizabeth, but from Sonny Belwani.
Tyler responds with his two weeks notice and says he went to meet with his grandfather.
Tyler tried to make him realize that this was a fraud and his grandfather had sided with Elizabeth Holmes and didn't believe him.
My grandfather said that the Theranos devices were currently being used in medevac helicopters.He also said they were being used in operating rooms.
I remember saying that that couldn't possibly be true because the devices were barely working within the walls of Theranos.
And it's not long before Elizabeth and Theranos are on to Tyler's secret conversations with Keri Rue.
My dad said, hey, no, you're totally ****.
John Keri Roo at The Wall Street Journal is ready to blow the lid off Theranos.With the help of inside sources like Tyler Schultz, remember, he's the grandson of board member George Schultz, Keri Roo is ready to publish.
but Theranos is playing hardball.
My dad asked me, have you been speaking with the Wall Street Journal reporter?And I said, yes.And he said, they know you're totally ****.
You know how aggressive they are.They try to get him to sign a document, you know, naming the journal's other sources.Did you ever sign anything? Never signed anything.
Over the course of several months, his attorneys negotiate with Theranos attorneys.Ends up costing his parents close to a half a million dollars in legal fees.But it stays firm, and in the end, I'm able to publish.
The article in the Wall Street Journal was published in October of 2015.
It's the first of many stories that say, among other things, that Theranos isn't using its technology for all the tests it offers.But instead, it's using traditional machines bought from companies like Siemens to run the majority of its tests.
Basically saying the emperor has no clothes.
We absolutely stand by our reporting.It caused a sensation.And I gather the story's not over yet.It is not.I don't think it is.
I was elated because it showed that I wasn't crazy.
There was a real problem.In a large staff meeting setting, Elizabeth told employees this is all not true.It really felt like gaslighting.It was very destabilizing, and it was difficult to know whom to trust.
Should you trust Elizabeth, or should you trust the press that was starting to come out?
And that's when Elizabeth Holmes goes on the offensive with the public.
Elizabeth, I have to tell you, in all my years, I can't recall a private company that I can't believe many have never heard of getting this kind of attention and scrutiny.What do you think's going on here?
This is what happens when you work to change things.And first they think you're crazy, then they fight you, and then all of a sudden you change the world.She bridled when you asked her tough questions.
She was used to being fawned over.And you couldn't fawn over Elizabeth Holmes after you read those articles.
Elizabeth goes on CNN to make excuses for why patient results were off.
There's this man who goes by the initials RC, who is suggesting that the lab results that he got from Theranos were not accurate.And then a month later, he ended up having a heart attack.
I'm not the lab director.
I know, but you're the CEO and founder of the company.I mean, this is as serious as it gets.
What I know is that I've put the best people in place to be able to investigate every aspect of this.I know they're doing that.
Things swiftly began to fall apart with Theranos.
Federal lab inspectors issue a warning that Theranos tests pose immediate jeopardy to patient health and safety.
Walgreens ended the relationship.
And in the middle of all of this, Sonny and Elizabeth call it quits.Sonny leaves Theranos in the spring of 2016.And then, the biggest blow yet.
Anything at all you want to say?Anything at all you want to say?Ms.Pelosi, please raise your right hand.
She's finally forced to answer to the Securities and Exchange Commission.She's being investigated, and they allege an elaborate fraud, one that's gone on for years.
Do you swear to tell the truth, the whole truth, and nothing but the truth?I do.
She was a very different person in those depositions.I don't know specifically.I'm not sure.I don't know exactly.Very evasive.She did not have the command of the room that you saw when she'd go in front of the press and journalists.
She claims ignorance more than 660 times.I won't be speculating.
And this is when Elizabeth's carefully crafted narrative just begins to unravel.
There are some just deadly admissions in which she notes that statements that she made at a certain time were actually not true.
Like those hundreds of blood tests she said her signature technology could supposedly perform.
making it possible to do any lab test from a tiny drop of blood from a finger.How many tests could it run?I don't know exactly what the number was.There was probably tens of tests.
So when you say tens of tests, you mean something less than 100?Yes.
those claims that she allegedly peddled to high-powered board members.
Was Theranos' technology deployed in emergency rooms, hospitals, and provider offices?No.Was a Theranos manufacturer device ever deployed in the battlefield?No.Was it ever deployed in a medevac helicopter?No.
After these lengthy depositions with Elizabeth and other people on the inside, the SEC is ready to bring civil charges.
Elizabeth Holmes charged with massive fraud, her company Theranos.
Raising more than $700 million from investors.
She and the company agreed to settle the case and pay a $500,000 fine.
Elizabeth settles with the SEC with no admission of wrongdoing.
Didn't seem like a big enough fine to me. She got off with a slap on the wrist, but the story's not over yet.
Theranos founder Elizabeth Holmes has been indicted on federal wire fraud charges.Quite a dramatic fall from grace for her and her company.
Experts say she could face significant prison time.
Really, there's no getting out of this one for Holmes.
I want to see her in an orange jumpsuit with a black turtleneck accent.Oh, I just think that would be perfect.
In June 2018, the Department of Justice announces they are filing criminal charges against Elizabeth Holmes and Sunny Balwani.The U.S.Attorney's Office is now charging her with a massive fraud.
She faces multiple fraud charges and significant jail time.Holmes and Ramesh Balwani both pleaded not guilty.
I've rarely seen this in Silicon Valley type cases, but she didn't just fool investors, she's fooled the press, patients, doctors, and an esteemed board of directors.
She even put on a fake voice when she was doing business.How does somebody do that, I wonder?This was the hot topic.We talked about it on our show.She was 19 when she dropped out of Stanford to found this company.
Everyone was just really surprised that this young woman could dupe so many influential investors.I mean, everything about this woman was a fraud.By September of 2018, Theranos is officially out of business.
It was a large company-wide meeting, and Elizabeth made the announcement.And then basically everyone went to their desks and gathered their things and left.
and hundreds of millions of dollars from some of the wealthiest and most connected individuals on the planet are wiped out.
Everyone who invested in Theranos lost it all.
Reid Cathrine is one of the attorneys who sued Theranos on behalf of investors.
I think it's probably the most interesting fraud case I've dealt with.Bernie Madoff would be second.
Bernie Madoff, as in the now infamous financier who died last year in prison.
I spent six hours in jail interviewing him.You think they're similar people?I think they're very similar people.Smart, charming, bullies.
Back in 2019, Elizabeth and her counsel did not respond to our repeated requests for comment.But the attorney for Sonny Balwani wanted to defend his client.
Obviously, when we look at this after the fact, and there's been a business failure, and Mr. Balwani is very sorry about that.But that's not the same as fraud.
When it comes to our health, people want to know it's 100% accurate day one.They want to know that what's inside of a Walgreens or at their doctor's office can actually do what it says it will do.
You know, Rebecca, of course that's true.I think, though, the unfortunate thing is that in our system of health care, there's mistakes that are made every day.There's no perfect answer.
I think people may accept that mistakes happen, but if you know that something is systemic, that's a problem.
Of course that is a problem.That's not what happened here, though.
Should someone go to jail for this?
No.I think this is a business failure, but it's not fraud, and I'm very confident that when the jury hears the whole story, you're gonna see an acquittal in this case.Acquittals.
While she waits for the trial to begin, Elizabeth's been seemingly living life to its fullest.She started a new relationship with a hotel heir, nearly a decade her junior.
She's seen in a video captured by Inside Edition with her new boyfriend, Billy Evans, ditching that signature black turtleneck for a white t-shirt and a baseball cap.
The two had been seen together at Burning Man, a big party out in the desert when Theranos shut down.
A lot of people think it was heartless that you were partying at Burning Man when your company was closing its doors.
But perhaps the biggest twist of all, as the story of Theranos approaches its final chapter, is Elizabeth's latest news.
The criminal fraud trial of Theranos founder Elizabeth Holmes could be delayed yet again because she is pregnant.
She is expecting her first child.She had a baby.Based on that, her lawyers asked that the trial be postponed a couple of months to allow that to settle in.
I think that might have been planned.It's a good way to get sympathy with a jury.It's a great way to get sympathy of a jury.
More than three and a half years after being charged, Elizabeth Holmes will finally face trial.
It was, in many ways, a soap opera.
I've got black turtlenecks.I've got blonde wigs.I would be shocked if she didn't finish the Theranos saga behind bars.
Now to the highly anticipated trial of Elizabeth Holmes.
People are even lining up outside to see this trial.
Any comments, Elizabeth?Elizabeth Holmes.Opening statement set to be delivered today as the former billionaire and founder of Fairnote faces fraud charges.
If the 12 jurors decided you're fake, what do you have to say?Any comments, Elizabeth?Comments?
The first day was crazy.There was this huge line.Everybody was buzzing.The energy was buzzing.
People were arriving in the middle of the night, standing outside the courthouse, trying to get in.There's a frenzy around the trial.
I take off my black sleeping turtleneck.
Girlbosses support girlbosses.There's this whole tongue-in-cheek satirical cottage industry that pops up with people buying girlboss merchandise and fake Theranos gear, and you can find it all over Etsy and eBay. I've got black turtlenecks.
I've got blonde wigs.One day, there's a young woman outside of the courthouse selling the full Elizabeth Holmes look for $100.
Who's a better businesswoman, you or Elizabeth Holmes?Of course myself.
Elizabeth would arrive every day, usually between her mom and her partner, Billy Evans.
It really became quite clear that they were creating an image with respect to Elizabeth Holmes.
How are you feeling, Elizabeth?We see a gentler and softer side.No more black turtleneck.
He had to come in the same door everybody else did and go through security.
God bless you, girl boss.She is the boss.Girl boss.
In federal court, no cameras are allowed.I go in and sketch what's happening in the courtroom.I was in the first row, right behind Elizabeth.Her body language, unlike anybody I've ever seen before.
She sat straight up, not touching the back of her chair the entire time.
The prosecution had a hard road because those fraud cases are very difficult to prove.
The hallmark of a wire fraud account is intent to deceive.
The prosecution's case was a successful entrepreneur.She had raised all this money.She had these aspirations and goals, and then found that she wasn't able to deliver them.So she was out of time.She was out of money.So she began to lie and cover up.
And once you start lying, the lies get bigger and bigger and bigger.
The criminal activity in the Theranos case happened when she stopped projecting it as a vision, and she started making factual statements of, here is what my machine can do today.Not next week, not in several years, but today.
And it was completely false. The prosecution has 29 witnesses testify over the course of their case.Investors, patients, even one of the most high-powered board members, General James Mattis.
General Mattis testified that Holmes personally pricked his finger to demonstrate the technology. And they also call former employees, like whistleblower Erica Chung.
She really did her best to convey to the jury how stressful it was working at that company, how they kept trying to tell Elizabeth Holmes they didn't feel the machines could do what they were being promoted to do.
making it possible to do any lab test from a tiny drop of blood from a finger.
The prosecution's case really shone a light on what was going on behind the scenes at Theranos, and it was an absolute mess.
What Theranos was actually doing was using third-party machines.But the reason that the board members and investors didn't know this, at least as Elizabeth Holmes claimed at trial, was because they were trade secrets.
I think that's a complete phony excuse.You cannot use trade secrets as an excuse to lie.
Every investor who testifies says that had they known Theranos was using third-party machines, they probably wouldn't have invested.
The government also brings out an important piece of evidence in the form of an investor call, and it's the first time the jury hears her voice.
Well, it's wonderful to speak with you all.
There's just no substitute for hearing Elizabeth Holmes' own voice in the context of her speaking to investors.
We had created an infrastructure that could in fact make it possible to get rid of the big tubes of blood that are drawn from the arm in its entirety.
The investors bought into this idea.That turned out not to be true.At most, they were able to do 12 tests on that machine.
One of the most jaw-dropping pieces of evidence was these three reports that Elizabeth gave investors.Each report had a logo from a major pharmaceutical company, and that led investors to think the reports came from those companies.
But in reality, they came from Theranos. And Elizabeth had just slapped the logos up top all by herself, no permission.
The doctored documents were a huge smoking gun.When you're actually taking an affirmative step to alter documents, that is a big red flag for jurors that her state of mind was deception.
These reports were included in investor packets, which also had glowing press articles and stunning revenue projections.
Those projections were, at best, ambitious, and at worst, just clearly false and misleading.
It's something that really stood out to the jury.
It was hasty.They shouldn't have given these statements to the investors, promising them, basically, what they would be looking at in a couple of years.
She would claim that they had hospitals and drug companies as customers, and also claim that the Department of Defense was a customer.
Military is a big deal for us.The ability to take a technology like this and put it in flight, specifically on a medevac, has the potential to change survival rates.
Certainly the investors found that to be incredibly compelling.
And then they bring in Haitians, the people who put their well-being in the hands of Theranos and ultimately got inaccurate results.
It was interesting to look over and see Elizabeth Holmes.There she is, and there I am, and I'll tell the truth.
The judge properly really limited their testimony.They couldn't talk about their emotional reaction to getting these bad test results.So that had all been very sanitized.
Prosecution rested after almost four months of testimony.
The big question that remained unanswered is, would Elizabeth Holmes testify?
It courts over at 4 o'clock, and it was like about 3 10.And all of the sudden, the defense calls Elizabeth Holmes.
You could hear a pin drop in this courtroom behind me when Elizabeth Holmes took the stand in a surprise move by the defense.
I believe Elizabeth thinks that she could convince the jury that she was innocent.
It's now late in the day on Friday, and the defense then calls Elizabeth Holmes to the stand.
That was a brilliant move, and I think it was the only move that the defendants really had in their arsenal.
She has incredible hubris, so I think it would have been difficult for her not to take the stand.
And it was really the first time the jurors would have had the opportunity to even see her full face, because even as she would come and go from the courthouse, she was always masked.
And she is really quite friendly and relaxed.I mean, like, kind of overly happy, you know?And she smiled, like, a couple times like this.And I was shocked, because in general, nobody smiles on the witness stand.
The defense had to start to create that humanizing of her.She's not the cold woman with her hair pulled back and a black turtleneck raising millions of dollars.
The defense is trying to establish Elizabeth's state of mind right off the bat, that she wanted this to work.She had this great idea, and she connected with smart scientists and engineers to make it happen.
They had her testify that she relied on others. that she was a big-picture person.She relied on Sonny Belwani.
She places the blame on scientists or engineers or the lab directors, basically anyone but her.
The defense's rebuttal of the prosecution's case here was to try to show that there were kernels of truth to almost everything that Elizabeth Holmes said.Perhaps it was just a matter of a misunderstanding.
that theme, that this was aspirational. that she truly believed in the technology, that she did not intend to defraud, was something that was very important to get on.
There is this mic drop moment when Elizabeth confirms she's the one who added the pharmaceutical logos to the top of those reports that investors got.
She just flat out said she was the one who did it and explained that she did this because they had been in a partnership and she wanted to make sure they got the credit.
I think that really kind of sealed the government's case right there.
Finally, after her third day on the stand, Elizabeth's attorney turns to the topic of Sonny Belvani.
They had a romantic and a sexual relationship.And she talked about how that evolved in a way that he was very controlling, that he was psychologically dominating her.
The defense enters into evidence a schedule that Elizabeth wrote down that she said was set for her by Sonny.
starting at four o'clock in the morning, recitations of certain mantras about how to focus, how to present oneself, what to eat, how to interact with people.
There were also tenets on the note, such as, I do not react.I speak rarely.When I do, crisp and concise.My hands are always in my pockets or gesturing.
The defense shows text messages of Sonny criticizing her.He says in one, They also try to show that Elizabeth's self-worth was all wrapped up with Sonny. She writes in one message, what you say to me equals my confidence.
The text messages indicate that Elizabeth Holmes really cared deeply about what Sonny Balwani thought of her and really would take whatever he had to say as gospel.
And then Elizabeth shares her biggest bombshell on the stand.
A stunning new revelation out of the fraud trial of Elizabeth Holmes today.
She says that Balwani frequently forced himself on her sexually.
She claims that at times throughout their decade-long relationship that Sonny would sexually abuse her, and it's something he strongly denies.
She actually took notes on her iPhone after some of the alleged incidents, and that was very compelling evidence.
And the note reads, don't enjoy literally anything about it or who I am if I did.Hurt so much.So, so much.Can't focus on anything except why.Why hurting myself?
She concludes this really dramatic testimony by saying, But then despite this testimony, Elizabeth admits on the stand that Sunny didn't force her to make statements to investors or journalists, and didn't control her interactions with them.
When Elizabeth is cross-examined by the prosecution, it's very reminiscent of her deposition with the SEC, where she said, I don't know, over 600 times.
I don't know specifically.I'm not sure.
I don't know exactly.The fact that Elizabeth Holmes had a bit of a faltering memory on cross-examination, but under questioning by her own attorneys, she had vivid recollections, I don't think played in her favor.
Two jurors told ABC News they had a ranking system from 1 to 5 for credibility and gave Elizabeth a 2.Most people got 4s or 5s.
And then in contrast to the defense, the prosecution paints a different picture of the relationship, pointing out that of the 12,000 messages between the two, the word love appears 594 times.
Sonny writes in one, I have never prayed with this intensity in my life for anything and anyone.You will shine. And Elizabeth replies, Sunny responds, And then she texts back,
These exchanges, from the government's perspective, helped to support the conspiracy account.And from the defense perspective, often tried to show the control that he might have had over her.
Elizabeth spends seven days testifying on the stand. And once she's dismissed, the defense rests its case, and they leave her fate up to the jury.
Ultimately, the defense decided to keep the case very simple, rely primarily on her as an individual and her telling her story, trying to convince the jury to find her not guilty.
My lingering question after closing was, well, was there enough evidence to prove beyond a reasonable doubt that she really had the intent to defraud?That's a pretty high bar to me.
We are closing in on Judgment Day.We are getting closer to a verdict.
This trial wasn't about the culture of Silicon Valley.This trial was not about the business practices of the venture capital industry.This trial was about Elizabeth Holmes.
The case went to the jury at the tail end of December.
In the jury's hands, deliberation set to get underway.
The jury has begun their second week of deliberations.
At 4 p.m.on the seventh day, the jury came in.
Breaking news this evening in the trial of Theranos founder, Elizabeth Holmes.The jury has reached a verdict.
The jury finds Elizabeth Holmes guilty on four of 11 criminal fraud charges for knowingly misleading investors about her company's blood testing technology.
I felt like, actually, maybe justice can be done in this world once in a while.
The jury remains deadlocked on three counts related to specific investors.The judge declares those a mistrial, and the government eventually drops them.
She's found not guilty on all four counts related to Theranos patients.
I was not happy that the patients didn't seem to count.She ran the company, said she was responsible, and she was guilty of not directing things properly, in my mind.
Between now and sentencing, she is out on bail.The split verdict will make it very difficult for an appeal.It shows that the jurors were very deliberate in their consideration, were not swayed by any sort of emotion.
Even though this was a split verdict, as a practical matter, it's not going to make much of a difference when it comes to sentencing than if she had been convicted on all counts.
So I think she's looking at several years in prison and perhaps more.
So now Elizabeth, 38 years old, celebrated less than a decade ago as the next Steve Jobs and once the youngest self-made female billionaire, waits She's not in custody, but she's no longer free.
After the verdict, Tyler Schultz posts that he's happy that justice has been served and that he is proud of the impact that he and fellow whistleblower Erica Chung had.
Tyler eventually made amends with his grandfather, who told ABC News in 2019, two years before his death, that his grandson did not shrink from what he saw as his responsibility to the truth, even when he felt personally threatened and believed that, I had placed allegiance to the company over allegiance to higher values in our family.
If she was sitting here today, what would you ask Elizabeth Holmes?
I would ask her, you know, what she would do differently.
People have short memories.And I think America loves a redemption story.And so is it possible to imagine her doing something really productive afterwards?Definitely.Is she up to that?Is she capable of it?I have no idea.
As she once declared at a Forbes conference, Elizabeth Holmes is not a woman who ever gives up.
You will get knocked down over and over and over and over again, and you win by getting back up.I would start this company over 10,000 times if I had to.
As of now, Elizabeth Holmes is scheduled to be sentenced in late September, and the trial of Sonny Balwani is expected to begin this March.
And the limited series about Elizabeth Holmes called The Dropout is now airing on Hulu.That's our program for tonight.I'm Amy Robach.
And I'm David Muir from all of us here at ABC News in 2020.
Sunny SoCal weather is back.As temps rise, here are some tips to go light on the grid and easier on your budget.Avoid peak hours of 4 to 9 p.m.when demand and pricing for energy is higher.Choose a toaster oven or crock pot over a regular oven.
Hit the delay button on laundry and running the dishwasher.And crank up your fans over the A.C.That's how to stay cool and spend less.Find more summer savings tips at sdge.com slash myenergy.
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