Elizabeth Holmes lived in an RV for six months while preparing for the Theranos trial after attending Burning Man.

Elizabeth Holmes Burned an Effigy of Theranos After Company’s Failure

Elizabeth Holmes, the founder and CEO of blood-testing company Theranos, made headlines when she revealed that she burned an effigy of her company at Burning Man after it went bust in 2018. This was her first interview since 2016 when her company was still the darling of Silicon Valley and the media, thanks to her role as the youngest female tech billionaire.

A Sense of Grief

In the interview with The New York Times, Holmes spoke about the incredible sense of grief she felt after the failure of Theranos. “I’d given everything to it, my whole life, since I’d been 18,” she said.

On the Road

After a trial date was set for Holmes in 2019, prosecutors began building their case against her for defrauding investors. Meanwhile, Holmes and her partner Billy Evans spent the next six months in an RV traveling the country, sleeping at campgrounds and Walmart parking lots. Holmes worked on her defense between outdoor yoga sessions and hikes in national parks.

Appealing Her Sentence

Currently out of prison as she appeals her sentence, Holmes was convicted of four counts of fraud in 2022. She had previously asked U.S. District Court Judge Edward Davila to allow her to remain free while she appealed the conviction against her, but in a ruling filed in early April, Davila ruled that the part of the conviction Holmes is appealing will probably not be overturned.

No Remorse

Prosecutors noted that Holmes “continues to show no remorse to her victims.” Despite this, Davila did say in his ruling that he didn’t believe Holmes was a flight risk, even though federal prosecutors revealed earlier this year that Holmes and her husband purchased one-way tickets to Mexico in January 2022 – the same month she was convicted.

Conclusion

Elizabeth Holmes’ story is a cautionary tale of the dangers of unchecked ambition and the consequences of fraud. Her actions have left a lasting impact on the tech industry and serve as a reminder that success at any cost is not worth it.