The Intelligence from The Economist Holmes stretch: Theranos’s founder convicted
Jan 4, 2022
Tom Easton, U.S. business editor for The Economist, dives into the shocking conviction of Elizabeth Holmes, revealing the lessons her scandal holds for startup culture and investors. They explore Apple's ambitions in the competitive streaming arena as it achieves a $3 trillion valuation, examining its struggles with Apple TV+. The conversation also addresses the alarming resurgence of syphilis in Britain, linking it to complacency in sexual health due to advancements in STI treatments.
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The Rise and Fall of Elizabeth Holmes
- Elizabeth Holmes, founder of Theranos, was initially lauded as a visionary entrepreneur.
- However, her company's blood-testing technology proved to be fraudulent, leading to her conviction.
A Conviction with Nuance
- The jury found Elizabeth Holmes guilty of defrauding investors, but not patients or doctors.
- This distinction is important because it removes the moral dimension of harming patients directly.
Holmes's Defense
- Elizabeth Holmes's defense strategy involved claiming she never knowingly lied.
- She also blamed her former partner, Ramesh Balwani, for controlling her actions due to abuse.