Elizabeth Holmes, the disgraced and (rightfully) ridiculed founder of Theranos, is finally getting a day in court for defrauding a ton of people with the company’s snake oil machine: The Edison. Here’s some fun stats about Theranos courtesy of CNBC:
- Elizabeth Holmes, founder and former CEO of Theranos, is facing 10 counts of wire fraud and two counts of conspiracy. She pleaded not guilty.
- Theranos was once valued at $9 billion.
- Investors dumped more than $700 million in the now defunct start-up.
Holmes and her ex-partner (the bat-shit crazy) “Sunny” Balwani are being teed-up for the nonsense they engaged in. Their exploits are a fascinating read in the book Bad Blood while the HBO documentary The Inventor: Out for Blood in Silicon Valley has great footage of the company accompanying the whole debacle. If you want to know how a company could dupe really smart people and smart companies for its fifteen-year lifespan, those are two great places to start. I tore through that book in no time.