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The Intelligence from The Economist

Holmes stretch: Theranos’s founder convicted

The Intelligence from The Economist

The Economist

News, Global News, Daily News

4.53.7K Ratings

🗓️ 4 January 2022

⏱️ 22 minutes

🧾️ Download transcript

Summary

Elizabeth Holmes has been found guilty of fraud. We ask what lessons her downfall holds for Theranos’s high-profile backers—and for a startup culture of hype before science. As Apple crosses a $3trn valuation we examine the motives for its stop-start forays into the competitive streaming-video business. And what lies behind the curious resurgence of syphilis.

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Transcript

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0:00.0

Hello and welcome to the Intelligence from the Economist.

0:06.6

I'm your host, Jason Palmer.

0:08.8

Every weekday we provide a fresh perspective on the events shaping your world.

0:14.5

Apple just hit a $3 trillion valuation.

0:21.1

It brings in more money in a month than Netflix does all year.

0:25.3

So why is it in the cutthroat television and movie business?

0:29.0

More media editor explains why it's a worthwhile side hustle for a hardware behemoth.

0:35.3

And some diseases seem like relics of the past.

0:38.7

Smallpox is gone and polio nearly so.

0:41.6

But one old-timey disease is raging back to prominence, particularly in Britain.

0:46.9

Cifalus.

0:47.9

Our correspondent says its resurgence is bad news, but for good reasons.

0:55.8

But first, the world has already known several guys of Elizabeth Holmes.

1:07.4

She was a precocious inventor when she founded Theranos at 19, a startup that promised an

1:12.9

array of quick diagnostic tests on just a few drops of blood.

1:17.2

Ten years later, the company was worth billions.

1:20.4

As the sharply dressed, hard-charging, articulate founder, she was a media darling, setting

1:25.5

an example in a male-dominated sector.

1:28.3

It's our actions that will determine this new stereotype around women being the best

1:35.4

in science and technology and engineering, and it's that that our little girls will see

1:41.3

when they start to think about who do they want to be when they grow up.

1:46.6

But the company's technology was more promised than substance, a lot more.

...

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