The Theranos case is one of the highest-profile fraud cases to come out of Silicon Valley.
Background: Elizabeth Holmes is the former CEO of a company called Theranos, which she founded in 2003 when she was just 19. This crew claimed they created blood tests which only required a small amount of blood.
What happened: Silicon Valley lapped up the new 'tech' and its inspiring founder. At its peak, the company was valued at US$10 billion. But it turned out to be all FAKE. NEWS.
What else: None of the tech was legit, and investors lost billions...and the company was later dissolved. Now, Holmes is testifying in her own defence, giving us a fascinating insight into the 'fake it till you make it' attitude of Silicon Valley-ites.
💡It's one thing to be ambitious...but it's another to risk the lives of people in the pursuit of raising billions.
💡The big question for Silicon Valley is: where does a company's vision stop...and the lies start? Holmes is arguing that though things didn't work, it was because she made a few (read: many) mistakes. But the prosecution reckon Holmes and her co-defendant agreed on a scheme to defraud.
💡Whatever the outcome, this sends a strong message that Silicon Valley's ethos needs to change
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