The content details the downfall of Elizabeth Holmes and her company Theranos, highlighting the alleged elaborate, years-long fraud that led to her facing securities and criminal charges, and the eventual collapse of the company.
Mind Map
Expand करने के लिए click करें
पूरा interactive mind map देखने के लिए click करें
elizabeth holmes once silicon valley's
fastest rising star
is now under the harsh glare of a very
different kind of spotlight as well
please raise your right hand she's
finally forced to answer to the
securities and exchange commission
as she's investigated for an alleged
elaborate years-long fraud
do you swear to tell the truth the whole
truth and nothing but the truth i do
suddenly the woman who always seemed to
have all the answers
we are the only lab company that is
actually really focused
on leading with transparency now had none
none
i i don't know specifically i'm not sure
i'm i don't know exactly i just don't
know with theranose's claims now under
the microscope did it concern you that
a number of tests weren't working
on this devices her carefully crafted narrative
narrative
began to unravel like those dramatic
claims she peddled to board members like george
george
schultz the former secretary of state
was theraness's
technology deployed in emergency rooms
hospitals and provider offices
no it was a fairness manufacturer device
ever deployed in
the battlefield was it ever deployed
in a medevac helicopter she was challenged
challenged
sentence by sentence on what she told
fortune in that star making cover story
there's a statement that theranus
currently offers more than
200 and is ramping up to offer more than
1 000
of the most commonly ordered blood
diagnostic tests all without the need
for syringes was that statement correct
i'm reading it now i don't think it is
and there was another significant detail
that she had been less than forthcoming
about were you and
sunnyvale wanted ever engaged in a
romantic relationship yes
when for a long period of time would you
say for the majority of that time for
you living with his homes
yes did you ever tell investors that
you've had a romantic relationship
no personally me talking to investors
one-on-one telling them
my relationship no i didn't it was
concealed from
the board it was concealed from the press
press
it was concealed from investors you
think it was intentional
that they hit it it was absolutely
intentional as revelations about
theranos started to unfold and the
divide between elizabeth's grandiose vision
vision
versus reality became clear now to the
stunning fall of a former ceo
the sec had enough to bring charges
against her
and soon so did the department of
justice elizabeth holmes and another
former executive
await a criminal trial they face up to
20 years in prison
elizabeth holmes is stepping down as the
chief executive officer
holmes pleaded not guilty by september 2018
2018
the company was officially out of
business how
big of a deal is this i think it's
probably the the most interesting fraud
case i've dealt with
bernie madoff would be second and you
think they're similar people
i think they're very similar people
smart charming
bullies elizabeth and her counsel did
not respond to our repeated requests for comment
comment
she denies any wrongdoing but sonny
balwani's attorney jeff coopersmith
agreed to join us for his first
in-depth on-camera interview if you were
going to give him a grade on the job he did
did
at theranos what would that grade be i
would give him
an a-plus for dedication and effort
but obviously when we look at this after
the fact and there's been a business failure
failure
and you know mister malwan is very sorry
about that but that's not fraud
it seems like a central component of
your case
is that theranos was on the right track
and if they had enough time
they would have gotten it 100 right i
think eventually the company would have
been a
great success if it had been allowed to
run when it comes to our health
people want to know it's 100 accurate
day one
they want to know that what's inside of
a walgreens or
at their doctor's office can actually do
what it says it will do you know rebecca
of course that's true
i think though the unfortunate thing is
that in our
system of health care there's mistakes
that are made every day
a lot of people will say fake it till
you make it make it till you make it
doesn't work in healthcare because
you're talking about people's health
so many people wind up in jail for such
little things
this is not a little thing and it's also
not only did they fool the investors
they fooled the media
they fooled patients they fooled doctors
but as elizabeth herself once declared
at a forbes conference
she is not a woman who will go down
without a fight
when you have that passion you will get
back up when you get knocked down
and you will get knocked down over and
over and over and over again and you win
by getting back up but i would start
this company over 10 000 times if i had to
to
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
Video के उस moment पर जाने के लिए कोई भी text या timestamp click करें
Share करें:
ज्यादातर transcripts 5 सेकंड से कम में तैयार
एक Click में Copy125+ भाषाएंContent Search करेंTimestamps पर जाएं
YouTube URL Paste करें
कोई भी YouTube video link डालें और पूरा transcript पाएं
Transcript निकालें
ज्यादातर transcripts 5 सेकंड से कम में तैयार
हमारा Chrome Extension लें
YouTube छोड़े बिना transcript तुरंत पाएं। हमारा Chrome extension install करें और watch page पर ही किसी भी video का transcript one-click में access करें।
