The business world is more complex than it looks. We all agree on this point in some way or the other. People are undoubtedly more inclined toward Hollywood gossip and what is happening in celebrities’ lives. But those who are somehow related to business dealings found that it is much more interesting and appealing than Hollywood.
People are holding big scandals behind the luxurious life. Don’t believe us? Well. Let us take you on the journey of a great businessman Christian Holmes IV. There is much to unfold in the conspiracies about Theranos inc, a medical diagnostic company.
Who Is Christain Holmes IV?
Christian homes were born on 1st February. He completed his schooling at a private high school and earned his degree from Wesleyan University. Christian was married to noel homes. She worked as a congressional committee staffer.
They both were living in Washington DC when they were expecting their first daughter. They named her Elizabeth. After that, they moved to Houston, texas. Christian was working in various government agencies. He later attained the position of vice president at Enron.
About Elizabeth Holmes
Elizabeth was born in February 1984. She still needs to complete her education at Stanford University. She dropped out in the middle of college to find a company from her tuition fees. She is an American entrepreneur who was the CEO of Theranos inc. She is the mind behind the medical diagnostic company, which was probed to be a fraud in later stages.
Her company is a blood testing startup claiming to have revolutionary techniques. Other companies need an adequate amount of blood to conduct multiple blood tests.
But her company claimed that just a single prick is enough to run all the tests ranging from cholesterol to genetic analysis. Theranos company motto was automated fats and inexpensive. It is definitely the revolution of the world that can save multiple lives.
About Theranos Inc
Her company has become the rising star of silicon valley. She has raised a good amount of investment of 700 million dollars in the company from Larry Ellison and Tim Draper and many more. When she was just 30 years old, the company was at its peak.
Its valuation was over 9 billion dollars, and she shares more than half of the company. She is claimed to be the next Steve Jobs in the world. But the only thing that led it to despair was technology.
John Carreyrou was an award-winning journalist for the wall street journal. He broke the story for the first time in 2015. He needed clarification on the knowledge and the records of his blood sample. He became increasingly interested in the story behind the technology development after just two semesters of chemical learning at Stanford University.
He started his groundwork by meeting the people who have the world for the diagnostic company. Erika Cheneug, and Tyler Schultz, whose grandfather has worked for the company and is also a board member of Theranos john, started meeting with them.
They began sharing their failed experiences in the company and its incorrect ways of treating technology. They revealed that false results were sent to the patients on which fundamental decisions were made. The technology they were using needed to be corrected, and, despite repetitive procedures, they were not getting any accurate results. The company promises and building were all lies for science and is a great way to make money.
For every action, there is an equal and opposite reaction. Firstly companies make all the allegations put on them. They blame John for such things and also threaten him for his life. The company members were also writing against John and were ready to sue his reputation.
In 2018, Holmes stepped aside as the CEO, and Ramesh Balwani was the new position holder. Later he was charged with criminal fraud for misleading investors and making false claims about the technology.
Three months later, the company was completely shut down by the FBI. Thousands of people were unemployed. Many are brilliant talents, but they must be aware of the company’s future and other things. In 2022 Holmes was found guilty of the act, and she was sent to eleven years of jail for the same.
While trials were going on against Elizabeth, more secrets were revealed about the company. Allegations were made about Elizabeth that she even tried to destroy the evidence in her last days at the company. However, she never really admitted any of it. She said she never knew about the culprit investors and patients.
After Companies Shutdown
Everyone believes that Elizabeth’s sentence was the end of the layers behind the company. But no, the story was not going to end this soon. John later published a book “bad blood: secrets and lives of silicon valley startups.
He reveals many more secrets about the company and Elizabeth in his book. She has tried everything to save her company and remove all the allegations, but in the end, nothing works for her.
Her story became so popular that a podcast on the name of the Theranos empire started revealing all its secrets. The name of the podcast was dropped. Television adaptations of the dropouts were also released in March 2022 on Disney. Amanda Seyfried received the primetime Emmy award for the role-play of holmes.
More than 22 employees were arrested for sharing the deals with the holmes. They were part of the big scandal going on behind the desk. At the time of the seizure, more than 164 million dollars was taken from the company. This is a big amount to bring anyone from sky-high to the road.
Later his father was fired from the American energy corporation Enron. He called his friend for financial help as nothing was left with him after the job.
Her father was unaware of the things going on with her daughter, which was even proved by the podcast and the book written by john. He got the job in 2017 in the Boston consulting group. He is working as a senior advisor. He proudly takes his career and denies all the media attention about his daughter.