Theranos founder Elizabeth Holmes imprisoned for 11 years; Read full story of this riches-to-rags entrepreneur, in PICS
U.S District Court Judge sentenced now default company Theranos founder Elizabeth Holmes to over 11-years prison for frauding investors and misleading patients. Theranos was shutdown in 2018 which was once valued over $9 billion company. Elizabeth Holmes, who was once hailed as a female Steve Jobs and silicon valley star, will be sent to prison. Here's the entire story of Elizabeth and her dream company Theranos.
Revolutionary Idea
The story began with the conception of revolutionary idea in Elizabeth Holmes’s mind. She thought of a blood testing wearable device that would monitor patients’ blood, drug delivery, and adjsut dosage as needed. When she was a sophomore, Holmes founded a company called real-time cures, which eventually became Theranos. It all started in 2014.
Developing the Business
Theranos’ business model was based on this revolutinary idea that the device would run blood tests using proprietary technology such as pinprick in your finger. However, it would tell or detect medical conditions like cancer and high cholesterol.
He started rasing venture funds from prominent capital including Draper Fisher Jurvetson and Larry.
Holmes looks as female Steve Jobs
She was hailed as a female Steve Jobs due to her idiosyncracy and appearance. She started wearing black turtlenecks like Jobs, decorated her office with things and never took vacations. Holmes found space on Fortune and Forbes, gave a ted talk, and acclaimed media attention.
She had become the world’s youngest self-made female billionaire with a net worth of around $4.5 billion.