The rise and fall of Theranos
One of HBO’s latest documentaries shines a light on Elizabeth Holmes and her blood-testing company, Theranos. After dropping out of Stanford to create Theranos, the company claimed to have created a blood-testing device that would be more affordable and accessible.
At its peak, Holmes was named Forbes’ richest self-made woman with a $9 billion business valuation for Theranos. The company later dissolved when reports from Wall Street Journal found issues with the blood-testing devices’ functionality. The valuation went from $9 billion to a net worth of zero.
Both Holmes and Theranos have transformed into a key reference point for dangers of Silicon Valley start-ups trying to break into the healthcare market without peer-reviewed research and evidence.