If you like true crime stories – who does not ?! – Make your schedule clear, with two documentary films about the rise and fall of Elizabeth Holmes and her Silicon Valley startup company Theranos coming soon.
Before you look at the documentary films, get the backstory of Holmes and its billionaire company. Learn exactly how she and her company filed charges.
Who is Elizabeth Holmes?
Holmes was once referred to as "the next Steve Jobs". Now she is 20 years in prison for wire breakage.
But we are ahead of ourselves. Let's go back to the year 2003, when this story began.
Holmes graduated from Stanford University in 2003 to start the startup Theranos. The company claimed that it could offer more efficient and comprehensive blood tests for all types of diseases – cholesterol, cancer and diabetes, etc. – without the need for a doctor's visit.
With one finger prick these extensive tests could be performed, no phials of blood or doctor's visits were required.
Holmes received $ 400 million in investment for Theranos. 11 years later, Theranos was valued at $ 9 billion. This made Holmes the richest woman in America and the youngest self-made billionaire.
By 2016, Holmes's clout and billions were gone.
Technology did not meet the requirements
In 2014, employees started to leave Theranos. Finding out that Edison's technology was the key to comprehensive finger-pecking testing was not as comprehensive as they thought. The company had to use traditional laboratory equipment until it found out how its Edison technology works as it claimed.
As a result, the Federal Drug Administration abolished Theranos' right to perform blood tests for two years after using an "unexplained medical device." This was followed by a fraud investigation by the Securities and Exchange Commission. The net value of Holmes was $ 0, as the value of Theranos declined.
In June 2018, Holmes and Theranos's former president and COO, Ramesh "Sunny" Balwani, were charged with nine frauds and two conspiracies.
Both could face imprisonment of up to 20 years and substantial fines.
Rebecca Jarvis, Chief Business, Technology and Economics Correspondent of ABC News, and producers have been investigating Holmes and Theranos for three years, according to ABC News. The documentation titled Get outwill be in a two-hour episode of 20/20,
In the documentary, viewers say, as Holmes says in never-before-released depository tapes, in which she says, "I do not know," more than 600 times. There are also six podcast episodes accompanying the documentary.
HBO also has a documentary about Holmes and her company Inventor: Looking for Blood in Silicon Valley, The documentary will premiere on Monday, March 18, 2019 at 9:00 pm. on HBO Go and HBO Now. Alex Gibney, an Academy Award winner, directs the documentary.
Besides the 20/20 and HBO documentary films, there's a book about Holmes' case of the billionaire becoming a potential inmate Bad Blood: Secrets and Lies in a Silicon Valley Startupby John Carreyrou.