The content details the rise and fall of Elizabeth Holmes and her company Theranos, highlighting a narrative of ambitious innovation that ultimately devolved into widespread fraud and deception regarding the company's blood-testing technology.
Mind Map
Clic para expandir
Haz clic para explorar el mapa mental interactivo completo
mrs holmes please raise your right hand
do you swear to tell the truth the whole
truth and nothing but the truth i do
this is elizabeth holmes once the
youngest female self-made billionaire in
this never-before-aired deposition she
sits across from 12 attorneys under
investigation for an alleged years-long
fraud did it concern you that a number
of tests weren't working
on their
devices now facing up to 20 years in
prison it's a stunning fall from grace
for the woman who was once poised to
change the world this is a revolutionary
company that threatens to change health care
care
if she had made this work
she would have been the next steve jobs
we made it possible
to eliminate the tubes and tubes of
blood her technology promised to run
hundreds of tests from a tiny finger prick
prick
a promise she would never fulfill
this is not fake it to make it this
thing's a product that didn't work did
ms holmes know that theranos could not
do all those tests
she yeah she knew it's a story of greed
and it's a story of incredible deception [Music]
it all started here at stanford
university the birthplace of so many
tech icons in silicon valley one of the
things that people brag about is that
they drop out of college steve jobs
dropped out of college mark zuckerberg
dropped out of college bill gates
dropped out of college after less than
two years here elizabeth dropped out too
i was at a point where
another few classes
classes
in chemical engineering was not
necessary for what i wanted to do in
2003 she launched her company which she
would come to name theranos it's about
keeping that conviction in yourself
elizabeth wanted nothing less than to be
the apple of health care
insiders say she was obsessed with steve
jobs and that she wanted to mimic him at
every turn from those signature black turtlenecks
turtlenecks
to recruiting his former head of
software avi tivanian this seems like a
really bright young lady
who is very driven has
a really interesting idea but he quickly
started seeing red flags she'd prick her finger
finger
and then she would put blood on
something and then she put it in the
machine and then sometimes she would say
this part doesn't work anymore
which was a little bit odd but some of
that you expect again from a startup
that has a product that's not done right
but the problem was it never got any better
better
avi quit after a year but elizabeth kept going
going
eventually getting an enormous loan from
a former software executive named sunny
belwani i think it was about 20 million dollars
dollars
but sunny a flashy entrepreneur who
drove a porsche 911 and a black
lamborghini wasn't just offering a lifeline
lifeline
he was also joining theranos as coo
did he have any qualifications in the
lab testing business he did not or in
pathology or anything like that not to
my knowledge
he seemed an odd choice to employees but
he became elizabeth's number two and
together they went after their biggest
collaboration yet
with walgreens as seen here in this
theranos tweet walgreens at that point
had more than 8 000 stores in the u.s
so you can imagine that the theranose
blood test would have been available at
almost every street corner so they cut a
140 million dollar deal
on the heels of that news she assembled
an all-star board of government
heavyweights the piece that really
vaulted her to fame and stardom was the
cover story in fortune magazine
the article states that theranos offers
more than 200 blood tests without a syringe
syringe
but precisely how theranose accomplishes
all these amazing feats is a trade secret
secret
you saw her almost once a week
either gracing a magazine cover or
attending a tech conference or a
healthcare conference or going on tv [Music]
[Music]
elizabeth holmes from theranos
elizabeth's home elizabeth holmes thank
you yeah for having me i am so
incredibly humbled we did this
this
you founded this company 12 years ago
right tell them how old you were i was 19.
19. [Music]
[Music]
by 2014 theranos is valued at nearly 10
billion dollars
the founders of walmart invest 150
million media mogul rupert murdoch 125
million and the devos family including
now education secretary betsy devos
but for all the hype on the outside on
the inside things weren't going as planned
employees like erica chung were dealing
with a product that still wasn't working
at what point do you start to think
something isn't right here i think the
transition happened is when i started
processing patient samples so you
basically start out with a base test yep
and it kept failing i kept running it
over and over and over and how it was
handled it totally blew me away they
took out data points so you're you're
saying essentially
that you were cherry-picking exactly the
information right but the thing is is we
this is the walgreens where i had the
as a breast cancer survivor cheri needed
to get tested regularly
but things took a terrifying turn when
she got her results
i saw that the estradiol amount was over
300 i called my oncologist's office and
the nurse called me back and she said
i am so sorry that's not good there
could be a tumor growing somewhere i
will never forget that day the doctor
told sherry to go in for more tests but
this time recommended a non-therinos lab
it was about a week later
i got the call from my doctor and he
said congratulations
your estrogen is basically non-existent
the theranose tests had been off by
no one from theranos ever called me to apologize
apologize
not okay
so many inside the walls of theranos say
they were too scared to speak up but
there was one unlikely whistleblower
willing to take the risk
a research engineer named tyler schultz
he also happened to be the grandson of
former secretary of state george schultz
a board member at theranos you also said
that ms holmes was manipulative what do
you mean by that she's really good at
telling you what you need to hear to
keep going she definitely did that
a lot with my grandfather
she would just like feed him things that
were just completely factually not true
people can come in and do full-service
laboratory testing
with a stick from a finger as opposed to
having the tubes and tubes taken from
your arm
can you recall any of the factually not
true things that ms holmes told you
the big ones are being able to run
hundreds of blood tests from a single
my grandfather would go
get a theranose test done and he would
you know it's like well i thought this
was a single drop of blood and there
would be some you know excuse about why
they needed to take a venus draw for him
but you know for everybody else it's a
finger break and he continued to buy
into that
they weren't even running most of the
tests on the theranos devices while i
was working there we only ran seven tests
tests
on the therianos devices
and most the tests were being run
on third-party machines
did ms holmes know at the time
that theranos could not do all those
of the few tests they were running on
theranos devices tyler says the results
were often not accurate
i think at the end of the day everyone
was concerned that we weren't giving
patients the right results
tyler eventually decided he would raise
his issues directly with the ceo herself
elizabeth responded by email later that evening
evening
she writes tyler these are very very
serious comments and allegations you're
making and then she says that she's
going to have to go have the teams go
through this line by line so we'll take
some time before i get back to you in this
this
but rather than a follow-up from
elizabeth he received this email from
sonny belwani that reckless comment
based on absolute ignorance is so
insulting to me that had any other
person made these statements we would
have held them accountable in the
strongest way the only reason i have
taken so much time away from work to
address this personally is because you
are mr schultz's grandson the only email
on this topic i want to see from you
going forward is an apology
instead tyler gave his two weeks notice
he says he went to go meet with his
grandfather at his home later that day
tyler tried to make him realize that
this was a fraud and his grandfather had
sided with elizabeth holmes and didn't
believe him he said they're trying to
convince me that you're stupid
but they can't do that
they can't however convince me that
you're wrong and in this case i do
believe you're wrong and
my grandfather said that the theranos
devices were currently being used in
he said that he said that did he tell
you who had told him that
he didn't say who told him that
but i have a really good guess [Music]
[Music]
he also said they were being used in
operating rooms
i remember saying that that couldn't
possibly be true because
the devices were barely working within
the walls of theranos
having made no progress with his
grandfather tyler eventually took his
concerns to wall street journal
careyroo authored the first of many
explosive articles in the wall street
journal that stated among other claims
that the company isn't using its
technology for all the tests it offers
but instead was using traditional
machines bought from companies like
siemens to run the majority of its tests
following the article a defiant
elizabeth appeared on mad money with jim
cramer this is what happens when you
work to change things and
first they think you're crazy then they
fight you and then all of a sudden you
change the world
elizabeth continued to deny deny deny
but when we come back under the harsh
glare of a different kind of spotlight
she'd find it harder to avoid the
mounting evidence i know
that we made mistakes and for the first
time ever you'll hear from the defense
attorney for the co of theranose
hi everyone george stephanopoulos here
thanks for checking out the abc news
youtube channel if you'd like to get
more videos show highlights and watch
live event coverage click on the right
over here to subscribe to our channel
and don't forget to download the abc
news app for breaking news alerts thanks
Haz clic en cualquier texto o marca de tiempo para ir directamente a ese momento del video
Compartir:
La mayoría de las transcripciones están listas en menos de 5 segundos
Copia con un clicMás de 125 idiomasBuscar en el contenidoIr a marcas de tiempo
Pega la URL de YouTube
Ingresa el enlace de cualquier video de YouTube para obtener la transcripción completa
Formulario de extracción de transcripción
La mayoría de las transcripciones están listas en menos de 5 segundos
Instala nuestra extensión para Chrome
Obtén transcripciones al instante sin salir de YouTube. Instala nuestra extensión de Chrome y accede con un clic a la transcripción de cualquier video directamente desde la página de reproducción.
