I believe the individual is the answer to the challenges of healthcare.

But we can't engage the individual in changing outcomes unless individuals have access to the information they need to do so.

That's how you become a billionaire. Wow, that's some inspiring stuff. Who is that young firebrand?

Elizabeth Holmes, I had seen her act on a lot of different stuff come across her a lot of different places.

Attractive blonde, black turtleneck sweater became a billionaire, doing TED Talks,

she was on Charlie Rose, she was in the New York Times regularly held up as an example of everything that is great with the world.

We found out just recently she is a complete fraud.

That's quite a story. They're going to make a movie out of it, maybe with Jennifer Lawrence playing her.

Well, that is exciting. Francine McKenna's a market watch reporter has been following this extraordinary story and joins us. Now Francine, hello, how are you?

Hello, how are you from Washington?

Oh, it's great to hear from you. By the way, Elizabeth Holmes, Palo Alto is very own as she is in the backyard of one of our many radio stations that we're on.

So tell us a story for anybody who doesn't know it.

Elizabeth Holmes was a Stanford student. She dropped out of Stanford because she had this great idea based on her own experience according to the narrative, the story that she tells.

She was afraid of needles.

Where she's unknown liars, we have to take this all with a grain of salt, but go on.

Well, the story is what's important to get investors to invest.

So, you know, the savvy ones, they start developing a story early on.

And her story was that she was afraid of needles. And she had started looking at and taking some courses at Stanford and sort of doing her own independent study to figure out a way to draw blood or at least be able to test blood for various things, only using a couple of droplets.

And that was a pitch. It would, if it was real, be revolutionary because it would not only reduce costs, but obviously make it really much more comfortable and much less painful for people like elderly or cancer patients.

Oh, for kids.

Oh, children.

Kids would be a game changer for kids. Well, and listen, I don't have any particular fear of needles. I'm no more fond of them than anybody else. But if somebody says to me, oh, by the way, there's a method to do this that doesn't involve sticking a needle in your vein.

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