Theranos' Elizabeth Holmes takes the stand for third day of testimony — Transcript

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1. 0:00theranos founder elizabeth holmes is
2. 0:01going to be back on the witness stand in
3. 0:03her criminal trial telling jurors how
4. 0:05much she believed in her blood testing
5. 0:07technology that prosecutors say was a
6. 0:09fraud
7. 0:10this is her third day on the stand and
8. 0:12scott cohen is in san jose to tell us
9. 0:14what we can expect today hi scott
10. 0:18hi becky it's actu it's her first full
11. 0:20day on the witness stand today she was
12. 0:22on the stand for about an hour on friday
13. 0:24in just about two hours yesterday
14. 0:27so
15. 0:28remember that a key to her her defense
16. 0:31against the 11 fraud and conspiracy
17. 0:33counts that she faces is that she never
18. 0:36intentionally deceived anyone and that's
19. 0:38what the testimony has been about thus
20. 0:40far under friendly questioning from her
21. 0:42defense attorney kevin downey she talked
22. 0:44yesterday about theranose's early
23. 0:46successes how they seem to manage to
24. 0:49miniaturize an automated blood testing
25. 0:52system she said that was a really big
26. 0:54idea and about the work that they were
27. 0:56doing
28. 0:57on on monitoring the progress of a drug
29. 1:00in a patient's bloodstream in looking
30. 1:03for disease markers from tiny samples
31. 1:05and they were working on these things
32. 1:07she said with some of the biggest
33. 1:08pharmaceutical companies now contrast
34. 1:10that to the government's case over 11
35. 1:12weeks where they had theranos insiders
36. 1:14pharma executives and others saying that
37. 1:16elizabeth holmes glossed over problems
38. 1:19and lied to investors well the defense
39. 1:21says that elizabeth holmes was a true
40. 1:23believer in her company and the
41. 1:25technology
42. 1:26until the bitter end
43. 1:30this home's in retrospect do you think
44. 1:32that you spent a little too much time at
45. 1:33thorough notes dwelling on the positive
46. 1:35things that you testified about today
47. 1:37and not enough tending to the problems
48. 1:42now be clear if she had just done that
49. 1:46uh emphasize the positive and and
50. 1:48de-emphasize the negative that would not
51. 1:50be a crime and that is another key to
52. 1:53the defense here that failure is not a
53. 1:55crime the government is going to try and
54. 1:58question her about whether she did in
55. 2:00fact lie to investors about what was
56. 2:02going on at their nose but it looks like
57. 2:04they're not going to get a chance to do
58. 2:05that until next week she will be on this
59. 2:08the stand today all day for direct
60. 2:10testimony then it's the holiday weekend
61. 2:12there's no court tomorrow so the hope
62. 2:14among the defense appears to be that the
63. 2:17jurors will be left with an impression
64. 2:19of elizabeth holmes ernest a believer in
65. 2:21her company never intended to lie to
66. 2:24anyone guys
67. 2:25but at some point they will get to
68. 2:27cross-examine her and it's that last
69. 2:30effort that will be left for the final
70. 2:33thing the jurors are thinking about
71. 2:34before go in i mean the question has to
72. 2:36become
73. 2:37you thought this worked but the results
74. 2:39showed otherwise did you not see those
75. 2:41test results was there not a moment when
76. 2:43you questioned some of these things it
77. 2:44just seems like it leaves her pretty
78. 2:46open on the cross exam
79. 2:49yeah but but remember again if all that
80. 2:51she did was she kind of glossed over the
81. 2:54negative test results maybe she saw
82. 2:56things and didn't do anything about them
83. 2:58that is not a crime failure is not a
84. 3:00crime it's what she told her investors
85. 3:03what she told patients and doctors
86. 3:05that's the heart of the government's
87. 3:06case and she's going to have a lot of
88. 3:08tough questions to answer you're
89. 3:09absolutely right when the prosecutors
90. 3:12get their chance next week scott thank
91. 3:14you good luck today
92. 3:17shepherd smith here thanks for watching
93. 3:19cnbc on youtube