- Elizabeth Holmes dropped out of Stanford University at 19 to start blood-testing startup Theranos, and grew the company to a valuation of $9 billion.
- But it all came crashing down when the shortcomings and inaccuracies of the company’s technology were exposed, and Theranos and Holmes were charged with massive fraud.
- HBO debuted a documentary Monday chronicling the trajectory of Theranos called “The Inventor: Out for Blood in Silicon Valley.”
- Here’s the story of Holmes’ rise and eventual downfall.
In 2014, blood-testing startup Theranos and its founder, Elizabeth Holmes, were on top of the world.
Back then, Theranos was a revolutionary idea thought up by a woman hailed as a genius who styled herself as a female Steve Jobs. Holmes was the world’s youngest female self-made billionaire, and Theranos was one of Silicon Valley’s unicorn startups, valued at an estimated $9 billion.
But then it all came crashing down.
The shortcomings and inaccuracies of Theranos’s technology were exposed, along with the role Holmes played in covering it all up. Holmes was ousted as CEO and charged with massive fraud, and the company was forced to close its labs and testing centers, and eventually shutter operations altogether.
Holmes and Theranos are the focus of a new HBO documentary that debuted in March, called “The Inventor: Out for Blood in Silicon Valley.” The documentary joins the book “Bad Blood” and a podcast from ABC News that have combed through the story of Theranos and how its founder was able to defraud investors and potential customers.
This is how Holmes went from precocious child, to ambitious Stanford dropout, to an embattled startup founder charged with fraud.
SEE ALSO: Leaked video shows Theranos employees playing the video game they created where you shoot at the reporter who exposed the startup’s problems
Elizabeth Holmes was born on February 3, 1984 in Washington, D.C. Her mom, Noel, was a Congressional committee staffer, and her dad, Christian Holmes, worked for Enron before moving to government agencies like USAID.
Source: Elizabeth Holmes/Twitter, CNN, Vanity Fair
Holmes’ family moved when she was young, from Washington, D.C. to Houston.
When she was 7, Holmes tried to invent her own time machine, filling up an entire notebook with detailed engineering drawings. At the age of 9, Holmes told relatives she wanted to be a billionaire when she grew up. Her relatives described her as saying it with the “utmost seriousness and determination.”
Source: CBS News, Bad Blood: Secrets and Lies in a Silicon Valley Startup
See the rest of the story at Business Insider