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Back in 2014, Elizabeth Holmes was on top of the world and declared as "the world's youngest self-made female billionaire" by Forbes magazine. Holmes was a Stanford University drop-out and founded Theranos, a company supposedly revolutionising technology in the health sector and valued at over USD $9bn/GBP £6.5bn at the time.

Theranos launched its own range of tests on the market which she claimed could test for multiple diseases using just a few drops of blood from a finger prick - detecting health conditions such as cancer and diabetes rapidly - without the need for needles. But, her world came crashing down in 2015 when she was exposed as a fraud and that her technology didn't work at all.

By 2018, the company she founded had collapsed and the businesswoman dubbed the "next Steve Jobs" continued her fall from grace as claims about her fraudulent company proved true and were not just coming from an "aggressive reporter" misrepresenting the facts, as originally thought by one of the company's investors.

The former entrepreneur also convinced other high-profile investors such as Rupert Murdoch to back her - and she managed to do thanks to being "sharp, articulate, committed," as described by Gen Mattis.

However, lawyers claim that Holmes did not mean to defraud, but rather she "naively underestimated" the challenges her business faced following the decline from big pharmaceutical firms to back Theranos in 2009 and they quickly ran out of cash.

Yet, the demise of Theranos was inevitable as new information emerged that other tests were simply carried out using commercially available machines made by other manufacturers and now Holmes' future remains uncertain as she faces up to 20 years in jail if found guilty.

Had you heard about Elizabeth Holmes' story before?

Do you think any of the services offered by Theranos could have been authentic?

Is 20 years in jail a suitable punishment for providing fraudulent health testing services?

Let us know your thoughts in the comments below!

Influence your world,
Toluna Team
Reply
Post

BubamaraMaya

  23 days ago
Maybe it could be some other type of punishment. Something useful. Reply
0 comments

cormacr

  27 days ago
"Naively underestimated". - Committed fraud.
"Mispoke". - Lied.
Here endeth the lesson.
Reply
0 comments

GinaG1190

  27 days ago
Have never heard of her before this post Reply
0 comments

ruta64

  29 days ago
no idea who she is Reply
0 comments

Famedluck

  29 days ago
Uhm…. Balls Reply
0 comments

JoanaMoon

  29 days ago
Don't know who she is Reply
0 comments

Ramisa

  29 days ago
I heard of her. Reply
0 comments

Clarecats

  29 days ago
Sorry, never heard of her. Reply
0 comments

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