Elizabeth Holmes Testimony: Updates From Day 5
The New York Times
Elizabeth Holmes, the founder of the failed blood testing start-up Theranos, took the stand for a fifth day on Tuesday.
SAN JOSE, Calif. — Elizabeth Holmes, the founder of the failed blood testing start-up Theranos, took the stand for a fifth day on Tuesday to defend herself in a fraud trial that has been billed as a test of start-up hubris and hype.
Ms. Holmes faces 11 charges of defrauding patients, doctors and investors by lying to them about Theranos’s technology and business relationships. She has pleaded not guilty.
Before Theranos collapsed, it was a Silicon Valley darling that promised to revolutionize health care through cheaper, simpler blood tests that took only a few drops of blood. Ms. Holmes raised nearly $1 billion from investors and was heralded as the next Steve Jobs. But a 2015 investigation from The Wall Street Journal revealed that Theranos’s blood-testing technology did not work, and the start-up unraveled.
