Theranos founder sentenced to 11 years of prison

 In 2003, at the age of 19 Elizabeth Holmes started a company called Theranos. Later she dropped out of Stanford University to pursue the company full time. Almost 10 years later she started claiming to have invented a new blood testing technology that would be a lot easier, faster and cheaper than what we have now. Theranos raised over 945 million dollars from many famous investors like Rupert Murdoch, Larry Ellison or Betsy DeVos. The company became valued at 9 billion dollars soon after. In 2015 a Wall Street Journal investigation uncovered that Elizabeth Holmes wasn't using any new technology but a third-party testing device that had questionable accuracy that could be dangerous the patients. In 2018 she was charged with fraud as well as other charges and recently was sentenced to 11 years in prison and has to pay many.

In my opinion what Elizabeth Holmes did is horrible. Not only she made people loose over 700 million dollars but also she endangered many people to health risks by giving them bad blood tests. With an incorrect result somebody could get the wrong medication prescribed which could even be fatal. I think that her sentence resembles well the damage she has done by faking new technology. Maybe one day we will see something similar of a concept that Elizabeth Holmes has faked. Something like this could be revolutionary, basically the same as Theranos was thought to be.

Links:

https://edition.cnn.com/2022/11/18/tech/elizabeth-holmes-theranos-sentencing/index.html

https://www.bbc.com/news/world-us-canada-63685131

https://www.cnbc.com/2022/11/18/former-theranos-ceo-elizabeth-holmes-sentenced-to-more-than-11-years-in-prison.html

Komentarze

  1. englishdiary2 grudnia 2022 08:39

    To me, the mystery is how she was able to pretend that she had this new advanced technology and get away with it for so long. After all, health-related industry is usually much more strictly controlled than other businesses.

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