Elizabeth Holmes Trial Update #19 (Why HOLMES Is In BIG TROUBLE) — Transcript

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1. 0:00i was standing on the 26th floor of the
2. 0:03jones day office in san francisco
3. 0:06looking out to alcatraz
4. 0:08and i knew at that moment that i was in
5. 0:11really big trouble trouble because about
6. 0:14six minutes before i was looking out
7. 0:16into alcatraz
8. 0:17i had received word that i had failed a
9. 0:20lie detector test i chose to take this
10. 0:22lie detector test for a number of
11. 0:24reasons including that i was delusional
12. 0:26somewhat insane i think in trying to
13. 0:28convince everyone my lawyers myself my
14. 0:30family that i was innocent of these
15. 0:33charges so i paid for this lie detector
16. 0:35test
17. 0:36i tried to cheat my way through the exam
18. 0:38and i failed
19. 0:40miserably and at that moment i knew that
20. 0:42i was in really
21. 0:43big trouble well all defendants at some
22. 0:46point of the journey recognized they are
23. 0:48here they're in really big
24. 0:51trouble in this video the first one in
25. 0:53nearly two weeks i'm going to cover
26. 0:56why elizabeth holmes is in really big
27. 0:59trouble as we go through her specific
28. 1:01testimony what she is saying how is she
29. 1:04responding
30. 1:05i actually had an interest in flying up
31. 1:07to san jose to try to film this video
32. 1:10from in and around the courthouse then i
33. 1:12recognized there's no way they were
34. 1:14going to let me into the courthouse but
35. 1:15that's okay because i've been to prison
36. 1:17and everyone on our team has experienced
37. 1:20this system i don't need to be in the
38. 1:21courthouse to provide
39. 1:23insight that i think our team can
40. 1:24provide because we've been through it
41. 1:26and we know the consequences that follow
42. 1:28making bad decisions and continuing to
43. 1:30double down on bad decisions so we're
44. 1:32going to transition into her testimony
45. 1:34in a moment before i do
46. 1:36thank you so much for your incredible
47. 1:38engagement our last video crossed over
48. 1:40forty thousand views forty thousand
49. 1:43views just in that one video so thank
50. 1:45you please like and subscribe and
51. 1:46comment and if there are things you want
52. 1:48us to do better and i know some of you
53. 1:49leave comments on things that we can do
54. 1:51better i read them i watch i learn
55. 1:52they're both good and bad with the hopes
56. 1:54that it provides incredible value to you
57. 1:56so thank you again and let's dive in
58. 1:59with elizabeth holmes testimony and why
59. 2:01i think she's in very big trouble all
60. 2:04right so let's dive right in with the
61. 2:06blog our team wrote at prison professors
62. 2:09as we cover her testimony but before i
63. 2:11begin i'm aware that she's already in
64. 2:13big trouble my goodness she's been
65. 2:14indicted she's looking up to 20 years in
66. 2:16federal prison my point i'll cover in
67. 2:18this video is specific things she is
68. 2:20saying in doing i think prove how
69. 2:22desperate their case is and how unlikely
70. 2:25it is that that she prevails and that's
71. 2:27why i think that the defense has thrown
72. 2:30a hail mary hail mary hail mary by
73. 2:32having her testify because all it takes
74. 2:34is one juror to be sympathetic as a
75. 2:36reminder one juror alternate was
76. 2:38dismissed because she said it would be
77. 2:41hard to send a young mother to prison so
78. 2:43they're rolling the dice so to speak but
79. 2:45they're also leveraging off her
80. 2:47strengths as executives you got to play
81. 2:48to your strengths well what is the
82. 2:50strength of elizabeth holmes well some
83. 2:52people would argue she was only able to
84. 2:54raise money by
85. 2:56deceit and fraud and treachery
86. 2:58essentially lying to people there are a
87. 3:00number of people that would say she was
88. 3:02magnetic she was smart and she had a
89. 3:05magnetic ability and she connected with
90. 3:08people so if that is a strength of hers
91. 3:10at least according to some
92. 3:12and if they know the odds of prevailing
93. 3:14at trial are so low because the lion's
94. 3:16share of defendants that go to trial
95. 3:18lose it
96. 3:19you can now see why she's testifying
97. 3:22because all she needs is one sympathetic
98. 3:24juror to believe
99. 3:25that it was balwani or she didn't have
100. 3:27bad intent her manipulations and puffery
101. 3:30are very common in silicon valley so
102. 3:33given her history of raising money at
103. 3:35such large levels and convincing people
104. 3:37to work alongside her
105. 3:39very powerful and rich influential
106. 3:41people her lawyers probably deduced
107. 3:44you might as well testify because all we
108. 3:45need is one quickly for some background
109. 3:47if you've been living under a rock or
110. 3:49unfortunately some of my friends who are
111. 3:50in prison who don't have access to
112. 3:51iphones or the internet let me give a
113. 3:53quick summary of where we are in this
114. 3:55case as we know elizabeth holmes is on
115. 3:58trial accused of multiple instances of
116. 4:00fraud against doctors patients and
117. 4:02investors in connection with her role as
118. 4:04founder and ceo of theranos that she
119. 4:07started no3 after dropping out of
120. 4:08stanford
121. 4:10interesting in her testimony
122. 4:12she mentioned that she dropped out of
123. 4:14stanford in part
124. 4:16because because she had she had been
125. 4:17raped and that contributed to her
126. 4:19dropping out of stanford a criminal uh
127. 4:22defendant taking the witness stand will
128. 4:24first testify on direct examination
129. 4:26meaning the witness is responding to
130. 4:29questions from their own lawyers i can
131. 4:31assure you
132. 4:33having been in this space for 13 years
133. 4:35including having clients gone to trial
134. 4:38she spent hundreds of hours going
135. 4:39through every possible scenario with
136. 4:41with her lawyers every possible
137. 4:44response it was manufactured it was well
138. 4:46thought through nothing caught her off
139. 4:49guard so that's how it starts with her
140. 4:51defense team asking her questions once
141. 4:53holmes direct examination concludes
142. 4:56prosecutors will have ample opportunity
143. 4:58to question homes in front of the jury
144. 5:00the cross-examination to challenge her
145. 5:02testimony and present her with
146. 5:04contradicting evidence then there will
147. 5:06be a chance for redirect examination of
148. 5:08holmes again by her team the purpose of
149. 5:10the redirect is typically to give the
150. 5:12witness another chance to explain their
151. 5:14position on relevant matters under less
152. 5:16pressure and more friendly
153. 5:18reporting reportedly during her time on
154. 5:21the witness stand elizabeth holmes has
155. 5:22been making eye contact with the jurors
156. 5:25this can be very important for the
157. 5:26defendant to connect with with jurors
158. 5:29the goal for the defense is for the jury
159. 5:31to see her as a human being they're
160. 5:33trying to shift the narrative the
161. 5:34government's narrative from the u.s
162. 5:36attorney is she's a thief she's a crook
163. 5:37she's a fraud everything she did was
164. 5:39under deceit there's no way she could
165. 5:40have built this business she didn't have
166. 5:41the skill set to do it
167. 5:43that's the government's narrative that
168. 5:45is their position the defense certainly
169. 5:47has a different narrative which is she
170. 5:49didn't have bad intent it's not a fraud
171. 5:51if a business goes belly up these things
172. 5:52happen every single day and by the way
173. 5:54it wasn't even her fault anyway it was
174. 5:56somebody else's so they're seeking
175. 5:58sympathy looking they're looking to
176. 5:59portray her as an executive as someone
177. 6:02who's overcome a great deal of heart
178. 6:04hardship who was and i know for many of
179. 6:06you you hear hardship and laugh but i'm
180. 6:08talking about hardship by way of balwani
181. 6:10and how difficult it is to thrive and
182. 6:12succeed as a female entrepreneur in
183. 6:13silicon valley again this is her
184. 6:16lawyer's
185. 6:17narrative trying to counter the
186. 6:18government saying she is nothing more
187. 6:20than than a fraudster continuing
188. 6:23as i mentioned holmes will use this
189. 6:25opportunity to show her charm hoping
190. 6:27jurors will see her
191. 6:28as someone who just tried and she failed
192. 6:31and we all try in life sometimes
193. 6:32unfortunately some of us fail but that
194. 6:34ain't fraud and that shouldn't send you
195. 6:37to prison how are yours going to respond
196. 6:38to the testimony well we we're going to
197. 6:40see we're going to see soon enough with
198. 6:43that said let's get into some of the
199. 6:44specific things she said while on the
200. 6:46stand and i'll offer my insights on
201. 6:48those on those specific statements
202. 6:51so let's address some of the things she
203. 6:52specifically said naturally the defense
204. 6:54has opened up her testimony by
205. 6:56discussing how she was a true believer
206. 6:59in this company and they claim that it
207. 7:00was within her right
208. 7:02to rely on the doctors the scientists
209. 7:05and people in charge of the lab she
210. 7:07relied on them and therefore because she
211. 7:09relied on them even though she was the
212. 7:10ceo because she relied on them she
213. 7:12shouldn't bear any criminal
214. 7:14responsibility i've said this previously
215. 7:16the reason so few ceos in the mortgage
216. 7:18meltdown of eight nine ten and eleven
217. 7:20went to prison is because they would say
218. 7:22i'm running a huge company here i can't
219. 7:23be responsible responsible for what
220. 7:25everyone is doing beneath me regardless
221. 7:28if she's on tv saying i'm the ceo
222. 7:30responsibility and the buck stops with
223. 7:32me she's on trial now fighting for her
224. 7:34life and they're going to throw out all
225. 7:36angles holm said on the stand that her
226. 7:38team was always working to fix these
227. 7:39bugs or so she was told and in the end
228. 7:42of the day the technology didn't work
229. 7:44and that's because she relied on the
230. 7:45wrong people and they were unable to fix
231. 7:47it specifically she was asked who was
232. 7:50responsible for the operational
233. 7:52management of the lab and she responded
234. 7:54sonny belwani
235. 7:55the clinical scientific decision making
236. 7:58meanwhile was the job of the laboratory
237. 8:00director and laboratory leadership
238. 8:02then the defense tried to go on the
239. 8:04positive and talk about how how could
240. 8:06she have had any criminal intent how
241. 8:08could she have had any intentions to
242. 8:10defraud if she didn't sell one share in
243. 8:12her company she said i didn't want to i
244. 8:15believed in the company and wanted to
245. 8:16put everything i had into it so here's
246. 8:21here's a big problem and why she's in
247. 8:22such trouble
248. 8:24think about some instances in your own
249. 8:26life where you've had arguments or
250. 8:28fights or things have gone awry and you
251. 8:29have a you know you have an issue with
252. 8:31someone things begin to heal and you
253. 8:33begin to make amends once you can
254. 8:34finally say i'm sorry i could have done
255. 8:36this differently except responsibility
256. 8:39for some bad decisions that i made
257. 8:42elizabeth holmes is unwilling to accept
258. 8:44responsibility
259. 8:46for anything if she were to at least
260. 8:48acknowledge on the stand yes i knew
261. 8:51yes that rests with me
262. 8:53yes i should have been more informed and
263. 8:55paid more attention to what was taking
264. 8:57place she would actually
265. 8:59she would get more credibility from the
266. 9:01jury because then at least they could
267. 9:03say
268. 9:04finally she's accepted responsibility
269. 9:06for something instead it's easier to
270. 9:09blame everybody else but then take
271. 9:11credit if there's something positive for
272. 9:13existence
273. 9:14for instance not selling any of her
274. 9:16shares but that doesn't necessarily mean
275. 9:18that she wasn't committing fraud why a
276. 9:20big sales part of her sales shtick could
277. 9:24have been i am such a believer in this
278. 9:25company
279. 9:27and have a billions of dollars in this
280. 9:29company i'm such a believer that i'm not
281. 9:31even selling any of my own stock so it's
282. 9:34easy for her to say if i was intending
283. 9:36to commit fraud why would i not sell any
284. 9:38of my stock that's her defense
285. 9:39attorney's job to sell
286. 9:41well to the flip side i know having been
287. 9:44in this space for 13 years
288. 9:46that it was a big part of her sales
289. 9:48process to raise more money by saying
290. 9:50i'm not selling you should invest and
291. 9:53we'll do this and grow together
292. 9:55testimony continued with elizabeth
293. 9:57holmes talking about the relationship
294. 9:59that theranos had with
295. 10:01the big pharmaceutical companies
296. 10:02including glaxosmithkline bristol myers
297. 10:05merck pfizer and she gave the impression
298. 10:09that these pharmaceutical companies
299. 10:11validated theranos's
300. 10:13technology
301. 10:14there is one moment where she
302. 10:16acknowledged wrongdoing frankly she had
303. 10:18to because there wasn't gray
304. 10:21it was as black as white as can be and
305. 10:22that was her putting the pfizer logo and
306. 10:25then sending it out to walgreens and of
307. 10:27course putting the pfizer logo on that
308. 10:30that piece of paper gave the impression
309. 10:31that pfizer validated their technology
310. 10:34when they did not she specifically said
311. 10:36i wish i had done it differently in this
312. 10:37respect i think this is a very big deal
313. 10:40because you need intent for a conviction
314. 10:43and when her lawyers say she did not
315. 10:44have that intent how could you not have
316. 10:46bad intent when you put a logo on a
317. 10:49piece of paper which would then compel
318. 10:50someone to do business with your company
319. 10:53in that case she had to own it and
320. 10:54accept it because there was so much
321. 10:56evidence you know placing her at the
322. 10:59wrong doing there she frankly had had no
323. 11:01other choice she should be doing more of
324. 11:03that frankly she should be doing more of
325. 11:05i did this wrong i could have done this
326. 11:06differently i'm sorry then her lawyers
327. 11:08can say see she admits wrongdoing here
328. 11:11but not there instead she continues to
329. 11:12go down this path of blaming others for
330. 11:14example they got into discussions with
331. 11:17her lead lab scientist daniel young and
332. 11:20she just simply said yeah it went bad
333. 11:22but it wasn't my fault daniel young was
334. 11:24responsible for the whole
335. 11:26project and again and again and again
336. 11:28there's this great quote from george
337. 11:30santiana a philosopher who said
338. 11:31something akin to those who don't
339. 11:33understand the past are doomed to repeat
340. 11:35it she is continuing down this path of
341. 11:38excusing of blaming others it isn't her
342. 11:40fault she's continuing to put herself
343. 11:42in that situation that's frankly why
344. 11:44she's on trial it's why she's looking at
345. 11:4720 years in prison if i may stay
346. 11:48philosophical it was nietzsche in 1851
347. 11:50who said the value of something is not
348. 11:52what you attain with it for what it
349. 11:54costs you well maybe she attains an
350. 11:56acquittal or maybe she gets some
351. 11:58benefits from this who knows but what is
352. 12:00it costing or her dignity
353. 12:02any semblance of responsibility of doing
354. 12:04the right thing of acknowledging some
355. 12:07wrong doing
356. 12:09what is it costing her by continuing to
357. 12:12blame other people and to not learn
358. 12:14anything from bad decisions of her past
359. 12:16it's hurting others those that love and
360. 12:18support her and it could lead to a very
361. 12:19long time in federal prison she had an
362. 12:21opportunity to do things differently
363. 12:24because instead she just does what she's
364. 12:26always done hence santa anna's you know
365. 12:28doomed to make the same decisions from
366. 12:30the past when she spoke specifically
367. 12:32about trade secrets trade secret secrets
368. 12:35i had a tough time saying that one
369. 12:37specifically she said because they were
370. 12:39considered trade secrets in intellectual
371. 12:42property information she couldn't
372. 12:43disclose it she couldn't discuss it
373. 12:45because of counsel and the use of
374. 12:47third-party analyzers in that way was an
375. 12:49invention as we understood from our
376. 12:51council we had to protect it as a trade
377. 12:53secret if we disclose that information
378. 12:55we could lose our trade secret potential
379. 12:58it's just
380. 12:59it's utter nonsense as i transition into
381. 13:01the final testimony from elizabeth
382. 13:03holmes as she gets specifically into
383. 13:05statements about sunny belwani and their
384. 13:07relationship so let's keep let's keep it
385. 13:10going without question the most
386. 13:12impactful part of the testimony was when
387. 13:14she discussed her relationship with
388. 13:16sonny balwani her former lover in 20
389. 13:18years her senior she did address on the
390. 13:21stand as i mentioned in the opening that
391. 13:22she dropped out of stanford in part
392. 13:24because she was she was raped she then
393. 13:27addressed how following getting raped
394. 13:29and then she met belwani the
395. 13:31abuse continued bows verbally and
396. 13:34sexually balwani's lawyers adamantly
397. 13:36deny this they think it's sickening and
398. 13:37tragic that she's going down this road
399. 13:40and blaming
400. 13:41balwani a number of experts see this
401. 13:43testimony is laying the groundwork for
402. 13:45this bengali defense svengali has come
403. 13:48to refer to someone who tried to
404. 13:49dominate manipulate and control another
405. 13:52with evil intent in court this bengali
406. 13:54defense is a legal strategy that
407. 13:56portrays the defendant as a victim upon
408. 13:59in the scheme of a greater and more
409. 14:00influential criminal
410. 14:02mastermind again they're going with
411. 14:05they're going with all they got here
412. 14:07specifically holmes testified that
413. 14:09belwani tried to take credit for
414. 14:10theranos's success and her skills as a
415. 14:13leader she said belwani would say that
416. 14:15he built me into who i was after
417. 14:17speaking with young women inspired by
418. 14:19homes in may 2015
419. 14:21balwani texted her i have molded you
420. 14:24balwani meant that he was responsible
421. 14:25for people's admiration of her the
422. 14:28testimony delved into the personal and
423. 14:29physical abuse holmes said she suffered
424. 14:31in her relationship with balboa
425. 14:33including being told i was a monkey
426. 14:35trying to fly a spaceship holmes made
427. 14:38notes of insults from belwani and she
428. 14:39recalled the time belwani said to her i
429. 14:42don't enjoy being in a company that's
430. 14:43not going to win
431. 14:45so angry at myself for coming
432. 14:48let's just
433. 14:48say all of these things are true and
434. 14:50it's sort of a he said she said let's
435. 14:52just say they're true
436. 14:54none of it excuses
437. 14:57her role in deceiving and lying to
438. 14:59people to raise money there are people
439. 15:01unfortunately in this country who are
440. 15:02addicted to drugs and have had have
441. 15:05severe mental health issues our prisons
442. 15:07are full of people with mental health
443. 15:09issues you probably shouldn't be in
444. 15:10prison they should be getting treatment
445. 15:11there's somebody who robbed a bank
446. 15:13because they were high on drugs
447. 15:16and sick and drunk and mental health
448. 15:18issues and
449. 15:19tons of problems yet they broke the law
450. 15:22they committed a crime
451. 15:24and they're in prison the a big part of
452. 15:27what she's doing incorrectly another big
453. 15:29problem that she has she's essentially
454. 15:31mitigating on the stand she's not really
455. 15:34articulating why she's innocent because
456. 15:36she's the ceo and there's so much
457. 15:37evidence where she says that you know
458. 15:40the buck stops with me i'm the ceo what
459. 15:42she's doing here is essentially she's
460. 15:44mitigating these things are relevant if
461. 15:46she's convicted if she's convicted at
462. 15:49trial and as she prepares for sentencing
463. 15:52she attempts to mitigate all of these
464. 15:54things are mitigating factors if she was
465. 15:55raped if she was abused if she felt she
466. 15:58was exploited these are all mitigating
467. 16:01factors to try to get a shorter sentence
468. 16:05but they're not going to result in my
469. 16:07opinion or experience and her getting
470. 16:10acquitted she's addressing mitigating
471. 16:12factors but nothing that she is saying
472. 16:14excuses her role in raising money and
473. 16:18having people lose money and saying
474. 16:19things that aren't true regardless of
475. 16:22what balwani did if he did it it's wrong
476. 16:24again it will be a mitigating factor but
477. 16:26it does not excuse her conduct just like
478. 16:29a judge would tell a person who robbed a
479. 16:30bank who was on drugs or had mental
480. 16:32health issues that yes i empathize with
481. 16:35you that you've had health issues you're
482. 16:36a drug addict i empathize with you but
483. 16:38you still broke the law you still robbed
484. 16:40a bank i have to send you to prison
485. 16:42they're mitigating factors but they
486. 16:44don't excuse someone from getting
487. 16:46convicted
488. 16:48the testimony uh continued holmes
489. 16:50continued to try to distance herself
490. 16:52from the day-to-day
491. 16:53i get a little worked up on these sorts
492. 16:55of things because there are prisons are
493. 16:57full of people who did not have bad
494. 16:59intent who have mental health issues who
495. 17:01are still there for long periods of time
496. 17:04but many of them come to say i'm sorry
497. 17:05regardless of having mental health
498. 17:07issues i'm sorry regardless of being an
499. 17:10act i want to do better i want to become
500. 17:12stronger learning from their past those
501. 17:14are the people that that i admire
502. 17:17and i just i don't know let me continue
503. 17:19here holmes continued to try to distance
504. 17:21herself from the day-to-day management
505. 17:23of the these laboratories claiming she
506. 17:25was not aware of any of the problems
507. 17:27with their noses technology she
508. 17:29testified of course that she did not run
509. 17:31the lab operations others were
510. 17:33responsible for oversight of the
511. 17:35scientific and lab issues her lawyer
512. 17:37asked her who was responsible for
513. 17:39operational management sunny belwani
514. 17:41again balwani was in charge of the
515. 17:43business parts of the lab according to
516. 17:45holmes belwani tried to control her
517. 17:47actions and personal life once they
518. 17:49became involved he told me that he
519. 17:51didn't know what i was doing in business
520. 17:53that my convictions were wrong i wanna
521. 17:55even told her what foods to eat to make
522. 17:57her pure and have the disciplined
523. 17:58lifestyle necessary for success i'm
524. 18:01fortunate that my wife does not tell me
525. 18:02what to eat nor do i tell her what to
526. 18:04eat that would be weird and odd they
527. 18:06appeared to have a weird and odd
528. 18:08relationship and frankly i'm glad that i
529. 18:10uh that i don't know them that why
530. 18:12criticized her personality and would get
531. 18:14angry at her for being mediocre telling
532. 18:16her she would never be successful he
533. 18:18felt i came across as a little girl and
534. 18:20needed to be more serious and pointed
535. 18:23and not giddy in my interactions again
536. 18:25does an excuse for breaking the law
537. 18:27these are all mitigating factors what
538. 18:29she's doing on the stand is trying to
539. 18:30mitigate the sentence if convicted i
540. 18:32don't find it compelling or if a jury
541. 18:34were to acquit her because
542. 18:36her former boss and lover told her what
543. 18:38to eat
544. 18:40god help us ultimately uh holmes lost
545. 18:43face in belwani she told the jury he
546. 18:45taught me everything that i thought
547. 18:47uh i knew about business and i thought
548. 18:49he was the best business person that i
549. 18:51knew i think i didn't question him in
550. 18:52that way that i otherwise
551. 18:55would have continuing on holmes
552. 18:56testified that she
553. 18:58had thought theranose had one of the
554. 18:59best labs in the world before that he
555. 19:02wasn't who i thought i was she said
556. 19:04referring specifically to belwani as to
557. 19:07what impact belwani had on her work at
558. 19:09their nose holmes answered i don't know
559. 19:11he impacted everything about who i was
560. 19:13and i don't fully understand that again
561. 19:15this is just another golden opportunity
562. 19:18for her to talk about perhaps how she
563. 19:20was naive and even when she
564. 19:22thought he was doing things that were
565. 19:24incorrect or wrong or manipulating her
566. 19:26as the ceo of a billion dollar company a
567. 19:28billionaire herself
568. 19:29she should have been able to find these
569. 19:31things
570. 19:32find out if he was lying to her
571. 19:34manipulating her after all that's why
572. 19:35you're the ceo if not you shouldn't have
573. 19:37been in that position you shouldn't have
574. 19:39been you shouldn't have been a ceo it's
575. 19:41just so troubling for
576. 19:43for me to read and hear that she could
577. 19:45even say
578. 19:46you know i i don't know and i don't
579. 19:48understand that she's had years of
580. 19:50lawsuits and settlements and pain and
581. 19:52time alone to think about the impact
582. 19:54that he had that was a golden
583. 19:56opportunity for her to share a very
584. 19:57insightful and thoughtful answer with
585. 20:00with the jury in fact she simply said i
586. 20:03don't know
587. 20:04holmes is trial testimony we learned
588. 20:06conflicts with what holmes told the
589. 20:07securities exchange commission in 2017.
590. 20:10of course there now settled i think for
591. 20:11700 million dollars with the securities
592. 20:13and exchange commission
593. 20:15during the sec deposition she said i'm
594. 20:17the ceo i'm the ultimate decision maker
595. 20:19for the company of course it's in her
596. 20:21interest
597. 20:22to say that to the fcc it's civil
598. 20:25toothless they're civil regulators not
599. 20:27criminal and not responsible for putting
600. 20:28her in prison so it makes sense that she
601. 20:30would give a different message to civil
602. 20:33regulators than she would on stand when
603. 20:34she's fighting
604. 20:36for her life holmes's testimony
605. 20:38concluded by reinforcing her vision for
606. 20:41theranos and her belief in the company
607. 20:42for the jury i believed in the company i
608. 20:45wanted to put everything i had into it
609. 20:47as to the vision sold investors for
610. 20:49theranos's future homesteader goal was
611. 20:51to improve access to testing and medical
612. 20:53data to catch diseases earlier and treat
613. 20:56them more effectively
614. 20:58lastly when asked why she never sold her
615. 20:5950 stake i touched on this earlier
616. 21:02valued at uh four and a half billion
617. 21:04despite board members urging her not to
618. 21:06she said she didn't want to she
619. 21:08confirmed that her shares and theranos
620. 21:10are worthless today
621. 21:12i'll close essentially with how i open
622. 21:15defendants are in a lot of trouble and
623. 21:17many of them double down and make
624. 21:18matters worse i'm of the opinion
625. 21:20elizabeth holmes would have positioned
626. 21:22herself
627. 21:23to
628. 21:24a higher chance of getting
629. 21:26acquitted if she were to at least
630. 21:28acknowledge some wrongdoing something
631. 21:30that she did irresponsibly or even
632. 21:32criminal because then a jury could say
633. 21:34okay she acknowledged doing this yet do
634. 21:36we want to send her to prison has she
635. 21:38suffered enough has she been through
636. 21:40enough has she endured enough instead
637. 21:42when you issue nothing but blanket
638. 21:44denials and excuse
639. 21:45it upsets people and angers them
640. 21:48because in this country you can earn a
641. 21:50second chance we do forgive but not if
642. 21:53we blame not if we blame other people
643. 21:55and that's the path and the road that
644. 21:56she's continuing to go down and it's the
645. 21:58reason where if she were to get
646. 22:00acquitted people would be apoplectic
647. 22:01they'll be angry they don't feel as if
648. 22:03justice will be served and if she is
649. 22:05acquitted to her credit she rolled the
650. 22:06dice takes a lot of courage to go to
651. 22:08trial despite the odds
652. 22:10though from the evidence that we're
653. 22:11seeing in acquittal seems
654. 22:14unlikely thank you very much for
655. 22:15following this uh new video i hope you
656. 22:18found value in it and i look forward to
657. 22:19returning uh soon with more videos on
658. 22:21the elizabeth holmes trial be well be
659. 22:23safe happy holidays bye-bye