Elizabeth Holmes | Theranos | The Storm - fortherecordyourhonor #theranos Mini Break Down | #updates — Transcript

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1. 0:01the storm that is Elizabeth home
2. 0:08[Music]
3. 0:17hello everybody and welcome to my
4. 0:20channel if you are a newbie don't worry
5. 0:22we'll get you right up to speed about
6. 0:25the topic at hand and if you're a local
7. 0:27thank you for returning please be
8. 0:31advised to do your own research and look
9. 0:35at all angles of a story and situation
10. 0:38thanks
11. 0:40let's Dive Right In
12. 0:43Elizabeth Ann Holmes was born on
13. 0:46February 3rd 1984 known as a former
14. 0:50American biotechnology entrepreneur
15. 0:53turned convicted fraudster ironically
16. 0:57enough most people don't connect the
17. 0:59fact that she is actually the daughter
18. 1:01of Christian homes who was a vice
19. 1:04president at Enron an energy company
20. 1:07that was famously known for going
21. 1:09bankrupt after an accounting fraud
22. 1:12Scandal as well as a known admirer of
23. 1:16Apple founder Steve Jobs and was
24. 1:19becoming known for her style of copying
25. 1:21Steve Jobs to a t a turtleneck tea that
26. 1:25is her voice and how it had deepened
27. 1:28over the past years caused much gossip
28. 1:31questions
29. 1:32and just very strange ironic things
30. 1:39just a quick reminder it has been
31. 1:42speculated and said that Elizabeth had
32. 1:44reportedly told a Walgreens consultant
33. 1:46that they don't put pretty people like
34. 1:49me in jail oh okay girl this was
35. 1:53according to a government filing ahead
36. 1:55of the recent sentencing hearing
37. 1:58in 2003 she founded and started the
38. 2:01company called theranos where she served
39. 2:04as chief executive officer the company
40. 2:07Mission and goal was that it was to
41. 2:09revolutionize the blood testing system
42. 2:12and Method from pretty much just a
43. 2:15finger prick the name was created from
44. 2:17an idea and mix of the words therapy and
45. 2:20diagnosis
46. 2:22around 2015 Forbes had named Holmes one
47. 2:25of the youngest and wealthiest self-made
48. 2:27female billionaires in America later on
49. 2:30after some things had come to light
50. 2:31Forbes Revisited this topic an
51. 2:34announcement correcting the feature
52. 2:36estimating her network worth of actually
53. 2:40zero this followed a fortune uh feature
54. 2:44article where she was listed in the
55. 2:47world's 19 most disappointing leaders
56. 2:50this led investor started to feel
57. 2:52something was a little bit off and heavy
58. 2:54speculation had begun in 2018 the U.S
59. 2:58secreties and Exchange Commission had
60. 3:00charged their nose and Holmes The
61. 3:02Creator with deceiving investors with
62. 3:06massive fraud by false and exaggerated
63. 3:08claims about its accuracy of blood
64. 3:11testing technology where in times
65. 3:13resulted in harming patients
66. 3:15participants with false information
67. 3:17leaving them thinking they were going to
68. 3:20need to take certain medications for an
69. 3:23illness or even possibly coming to death
70. 3:26in high Elite typical fashion Elizabeth
71. 3:30settled charges with a payment of 500
72. 3:33000 returning
73. 3:3518.9 million shares to the company and
74. 3:39relinquishing her voting control
75. 3:43of theranos and a 10-year ban from
76. 3:46serving as an officer or director of any
77. 3:49public company
78. 3:51[Music]
79. 3:53but it doesn't just all end there
80. 3:57Stanford University student with no
81. 4:00degree had also been found to be
82. 4:02indicted by a Federal grand jury of nine
83. 4:05counts of wire fraud and two counts of
84. 4:07conspiracy to commit wire fraud the
85. 4:10victims were the investors in patients
86. 4:12who would rely and trust this new system
87. 4:15A system that promised 240 tests on a
88. 4:19single drop of blood where traditional
89. 4:21panels required much larger amounts of
90. 4:24blood samples fast forward to November
91. 4:278th
92. 4:292022 she was sentenced to 11 years 135
93. 4:33months in prison
94. 4:36she will report to turn herself in on
95. 4:40April 27th of 2023 and will have
96. 4:43additional three years of supervised
97. 4:45release once she's out according to
98. 4:48Yahoo finance writer Alexis Keenan jury
99. 4:52found her guilty of three counts of wire
100. 4:55fraud and one count of conspiracy to
101. 4:57commit again earlier this year for more
102. 5:00information on this case in Elizabeth
103. 5:02Holmes the rise and fall check out the
104. 5:04book Bad Blood secrets and lies in
105. 5:07Silicon Valley startup by the Wall
106. 5:09Street journalist reporter John Kerry
107. 5:12Roo
108. 5:13and the Hulu series The dropout
109. 5:17[Music]
110. 5:18a mother of one and expecting again with
111. 5:21her husband Billy Evans whom she married
112. 5:23in 2019 during all the chaos of the
113. 5:26trial many question the timing of her
114. 5:29marriage and pregnancies trying to
115. 5:32possibly avoid court and sentencing
116. 5:34opportunity
117. 5:35thanks for checking in I'm Linda and
118. 5:38that's for the record your honor