Elizabeth Holmes was poised to be a leading giant in the tech industry, successfully running her nine billion dollar company, Theranos. That all came crashing down, however, when the company was investigated for their “testing” accuracy. Holmes claimed to be able to test for over 70 different markers in a single drop of blood, minimizing the number of pokes and prods a person endures not to mention the savings in healthcare costs from not having to run multiple tests. But Holmes kept her business and technology too close to the vest and, eventually, people began to investigate.
John Carreyrou, a reporter for the New Yorker, didn’t believe all the hype and was put off by the lack of information and openness to the company’s methods for testing. For months, Carreyrou investigated the multi-billion dollar powerhouse, gradually obtaining small amounts of information along the way to uncover the web of lies and deceit that Theranos had been covering up for so long.
According to Wired, who reported on Carreyrou’s research, “The general gist: Theranos’ technology was not what it seemed. In fact, the company’s blood-testing device, a machine called Edison, couldn’t accurately detect enough molecules in blood samples to provide accurate readouts.”
After the Theranos exposé, it didn’t take long for the young tech mogul to fall. In fact, her reputation quickly lost all credibility, from her controversial appearance at the American Association for Clinical Chemistry, to being barred from all laboratory testing for two years, to her silent and quiet resignation.
Holmes was a major player in health care reform, as well as a leading figure in the Clinton campaign, from both of which she has been removed. The government website quickly removed all photos and associations with Holmes. The Clinton campaign has severed ties with the once promising scientist and creative genius.
Zero Hedge covered the resignation of the adviser to President Obama in a recent article, citing that, “Elizabeth Holmes is proud to have the opportunity to serve on PAGE, contributing to the development of the next generation of female entrepreneurs… She is stepping down from the program to spend all her time focused on one thing, and that is Theranos and its needs, especially as the company focuses on sharing its technologies with the scientific community.”
The Future of Elizabeth Holmes
Needless to say, Holmes’ future is very uncertain. With her recent ban on lab participation, the loss of her entire net worth and the heavy hit on her credibility, this once promising tech and medical genius will have to rethink her career, passion, and goals in life.
However, according to Holmes in a statement posted on Theranos’ website, “the company will continue to carry out its mission.” Yes, it’s true that the company has the right to fight back and appeal the sanctions set to take effect in September; however a hefty fine of $12,000 per day will be imposed on the company for every day they operate out of compliance. In addition to the CEO’s stepping down, it’s not just Holmes’ future in jeopardy but that of her start-up company as well.
No one really knows what the future holds for Elizabeth Holmes, and while she begins to pick up the pieces of her life, one thing is certain: this innovative, determined, and once successful billionaire will not lie down and let this upset completely ruin her future. What she does in the upcoming months and years will be up to speculation, but we can expect that she will certainly be doing “something”.