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The Journal.

Elizabeth Holmes Found Guilty

The Journal.

The Wall Street Journal

Business News, Daily News, News

4.25.8K Ratings

🗓️ 4 January 2022

⏱️ 14 minutes

🧾️ Download transcript

Summary

Theranos CEO Elizabeth Holmes promised investors that her company could revolutionize blood tests. But after 11 wire-fraud charges and 15 weeks of a court trial, yesterday a jury found Holmes guilty on four counts. WSJ's Sara Randazzo, who has been in the courtroom, explains what this means for Holmes and why this trial was a referendum on how Silicon Valley startups raise cash. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

For the past several months, Elizabeth Holmes, founder of the Startup Theranos, has been

0:10.3

on trial.

0:12.1

Holmes faced 11 charges that she ran a year-long fraud scheme against investors and patients.

0:20.0

Her company had been a Silicon Valley darling.

0:23.2

It raised hundreds of millions on the promise that it could eliminate invasive blood tests

0:28.7

with technology that could use just a few drops of blood.

0:32.7

But Theranos didn't do what Holmes promised.

0:37.1

Yesterday, after days of deliberation, the jury in the case asked to talk to the judge.

0:44.0

Our colleague Sarah Randazzo was there.

0:47.3

Monday was an interesting day.

0:48.9

So all of last week on the three days of the jury deliberated, we sat around.

0:53.6

From morning till afternoon, they didn't say anything.

0:55.9

They were just back there working and then we get a note saying, hey, they left for the

0:59.0

day.

1:00.0

So we came back Monday not knowing if we were going to expect that again.

1:02.8

And then in the morning, we got a note.

1:05.4

And so everyone piled into the courtroom and we heard that the jury was stuck on three

1:09.6

counts.

1:11.1

And the judge called them all in and he read what's known as an Alan Charger.

1:14.4

It's kind of nicknamed a dynamite charge sometimes, which is basically a legal principle that

1:19.2

he gives to them saying, hey, keep trying.

1:21.7

There's no hurry.

...

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