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Heritage Explains

Elizabeth Holmes and Theranos

Heritage Explains

Heritage Podcast Network

Education

4.7847 Ratings

🗓️ 10 January 2022

⏱️ 28 minutes

🧾️ Download transcript

Summary

This week, Zack Smith, a legal fellow in the Meese Center for Legal and Judicial Studies, breaks down the case against Theranos founder Elizabeth Holmes. 

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Transcript

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0:00.0

From the Heritage Foundation, I'm Michelle Cordero, and this is Heritage Explains.

0:13.6

Every time you create something new, there should be questions.

0:19.3

And to me, that's a sign that you've actually done

0:22.0

something that is transformative. That's the voice of Elizabeth Holmes. In 2015, Holmes was

0:30.6

named one of the world's youngest and wealthiest self-made female billionaires. Attractive and well-spoken, Holmes was the founder of Theranos, a health technology company that was worth nearly $10 billion.

0:45.9

Theranos was going to change the world with its revolutionary blood testing machines.

0:51.2

And then it all came crumbling down.

0:58.0

Music machines. And then it all came crumbling down. Theirno's founder Elizabeth Holmes has now officially been indicted on federal wire fraud charges.

1:05.0

The U.S. Attorney's office accusing her of engaging in a multi-million dollar scheme to defraud investors,

1:12.0

doctors and patients.

1:14.8

Theranos founder, Elizabeth Holmes, was once on top of the tech world big time, and now

1:19.8

she is back in the headlines this morning.

1:21.9

She promised a revolution in medical testing, charming Silicon Valley investors, and the

1:26.7

media along the way.

1:28.3

Now Holmes and the company's former president are accused of falsely claiming their technology

1:33.4

could accurately perform lab tests with just a few drops of blood.

1:41.1

Guilty. Theronauts founder Elizabeth Holmes found guilty on four out of 11 counts in her fraud trial after the jury deliberated for nearly 50 hours.

1:51.0

Prosecutors saying Holmes knowingly lied about her blood testing technology, quite frankly, from the very beginning.

1:59.0

Today on Heritage explains quite frankly, from the very beginning.

2:06.4

Today on Heritage Explains, we have a special treat for you.

2:12.3

We're airing the Daily Signal podcast's interview with Doug Blair and Heritage Legal Fellow, Zach Smith.

2:19.4

Smith will explain more about who Holmes was, what exactly she was on trial for, and why it was so important.

...

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