{"id":1186571,"date":"2022-01-04T10:04:24","date_gmt":"2022-01-04T15:04:24","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1186571"},"modified":"2022-01-04T10:04:51","modified_gmt":"2022-01-04T15:04:51","slug":"former-theranos-ceo-elizabeth-holmes-duped-the-establishment-elites-with-rainbows-and-unicorns","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/former-theranos-ceo-elizabeth-holmes-duped-the-establishment-elites-with-rainbows-and-unicorns\/","title":{"rendered":"Former Theranos CEO Elizabeth Holmes Duped the Establishment Elites with Rainbows and Unicorns"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fformer-theranos-ceo-elizabeth-holmes-duped-the-establishment-elites-with-rainbows-and-unicorns%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1186571&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p class=\"subheading\">The fraud conviction of former Theranos CEO Elizabeth Holmes confirms that even the biggest names in establishment politics, tech and global business are not immune to falling for somebody who over-promises but ultimately under-delivers.<\/p>\n<p>Holmes was found guilty on Monday of duping investors into believing her company Theranos had developed a revolutionary medical device that could detect a multitude of diseases and conditions from a few drops of blood.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>She could now face up to 20 years in prison for each charge, although legal experts say she is unlikely to receive the maximum sentence, as Breitbart News <a href=\"https:\/\/www.breitbart.com\/tech\/2022\/01\/03\/former-theranos-ceo-elizabeth-holmes-found-guilty-of-fraud-and-conspiracy\/\">reported<\/a>.<\/p>\n<p>So who was behind her? Who provided the tens of millions of dollars necessary to underwrite what the court found was a massive, overarching lie built on rainbows and unicorns?<\/p>\n<div id=\"attachment_19352682\" class=\"wp-caption alignnone\"><a href=\"https:\/\/media.breitbart.com\/media\/2022\/01\/GettyImages-496363974.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-19352682\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/01\/GettyImages-496363974-683x1024-1.jpg\" alt=\"\" width=\"683\" height=\"1024\" \/><\/a><\/p>\n<p class=\"wp-caption-text\"><em>CEO Theranos Elizabeth Holmes attends the 2016 Breakthrough Prize Ceremony on November 8, 2015 in Mountain View, California. (Photo by Kimberly White\/Getty Images for Breakthrough Prize)<\/em><\/p>\n<\/div>\n<div id=\"attachment_19352930\" class=\"wp-caption alignnone\"><a href=\"https:\/\/media.breitbart.com\/media\/2022\/01\/GettyImages-491568888-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-19352930\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/01\/GettyImages-491568888-1-1024x681-1.jpg\" alt=\"\" width=\"990\" height=\"658\" \/><\/a><\/p>\n<p class=\"wp-caption-text\"><em>NBC News Special Anchor Maria Shriver (L) and Theranos Founder and C.E.O. Elizabeth Holmes speak onstage during \u201cTrue Blood\u0097Diagnostics in the New Age\u201d at the Vanity Fair New Establishment Summit at Yerba Buena Center for the Arts on October 6, 2015 in San Francisco, California. (Mike Windle\/Getty Images for Vanity Fair)<\/em><\/p>\n<\/div>\n<p>Holmes wooed a well-connected board that included two former U.S. secretaries of state, Henry Kissinger and the late George Shultz: two former secretaries of defense, Gen. James Mattis and William Perry; former Sen. Sam Nunn; and former Wells Fargo CEO Richard Kovacevich.<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>Rupert Murdoch was an investor along with&nbsp;software magnate Larry Ellison,&nbsp;as well as well-to-do families such as the Waltons of Walmart and the DeVos clan behind Amway.&nbsp;New England Patriots owner Robert Kraft was there too.<\/p>\n<p>She charmed former President Bill Clinton in an on-stage presentation and impressed then-Vice President Joe Biden, who effusively praised her during a 2015 tour of a Theranos lab.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">.<a href=\"https:\/\/twitter.com\/VP?ref_src=twsrc%5Etfw\">@VP<\/a> Biden meets with our founder and CEO, Elizabeth Holmes, and Theranos technician, Tiffany.  <a href=\"https:\/\/t.co\/hAUo2bpigz\">https:\/\/t.co\/hAUo2bpigz<\/a><\/p>\n<p>\u2014 Theranos (@theranos) <a href=\"https:\/\/twitter.com\/theranos\/status\/624320460084281349?ref_src=twsrc%5Etfw\">July 23, 2015<\/a><\/p>\n<\/blockquote>\n<p>The company was once&nbsp;<a class=\"x5l\" href=\"https:\/\/www.axios.com\/silicon-valley-fraud-trial-theranos-elizabeth-holmes-4cf45ae1-a01a-4d80-8f41-07928d9830a4.html\" target=\"_blank\" rel=\"noopener external\">valued<\/a>&nbsp;at $9 billion, ultimately raising hundreds of millions from investors.<\/p>\n<p>Details of Joe Biden\u2019s 2015 visit were&nbsp;<a class=\"x5l\" href=\"https:\/\/www.businesswire.com\/news\/home\/20150723006686\/en\/Theranos-Hosts-Vice-President-Biden-for-Summit-on-a-New-Era-of-Preventive-Health-Care\" target=\"_blank\" rel=\"noopener external\">highlighted<\/a>&nbsp;by Theranos, including his effusive praise for Holmes, as an example of what moths could be drawn to her flame.<\/p>\n<figure id=\"M-ROS-B3\" class=\"a8d adSo\"><\/figure>\n<p>\u201cTalk about being inspired. This is inspiration. It is amazing to me, Elizabeth, what you\u2019ve been able to do,\u201d Biden said, as Breitbart News <a href=\"https:\/\/www.breitbart.com\/politics\/2021\/09\/02\/theranos-joe-biden-17786578\/\">reported<\/a>.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Vice President Joe Biden participates in a roundtable discussion yesterday in the Theranos machine shop in California <a href=\"http:\/\/t.co\/qfw30XrzbN\">pic.twitter.com\/qfw30XrzbN<\/a><\/p>\n<p>\u2014 VP Biden (Archived) (@VP44) <a href=\"https:\/\/twitter.com\/VP44\/status\/624665389092483072?ref_src=twsrc%5Etfw\">July 24, 2015<\/a><\/p>\n<\/blockquote>\n<figure id=\"D-ROS-B2\" class=\"a8d\"><\/figure>\n<p>Such was&nbsp;Holmes\u2019 ability to charm potential investors, fueled by an adoring media, she was recognized by the former President Barack Obama\u2019s White House as a change-maker.<\/p>\n<p>In April 2015, Holmes was&nbsp;<a class=\"x5l\" href=\"https:\/\/obamawhitehouse.archives.gov\/realitycheck\/the-press-office\/2015\/04\/28\/expected-attendees-tonight-s-japan-state-dinner\" target=\"_blank\" rel=\"noopener external\">invited<\/a>&nbsp;to the White House state dinner with Japanese Prime Minister Shinzo Abe.<\/p>\n<p>The deception backfired later that year after a series of explosive articles in the <em>Wall Street Journal<\/em> and a regulatory audit of Theranos uncovered potentially dangerous flaws in the company\u2019s technology, leading to its eventual collapse.<\/p>\n<figure id=\"M-ROS-B4\" class=\"a8d adSo\"><\/figure>\n<p>During her testimony, Holmes occasionally expressed contrition for her handling of a variety of issues, but she often contended that she had forgotten the circumstance surrounding some of the key events spotlighted by the prosecution.<\/p>\n<div id=\"attachment_4458451\" class=\"wp-caption alignnone\"><a href=\"https:\/\/media.breitbart.com\/media\/2016\/07\/wi\/ap_elizabeth-holmes_ap-photo-e1490640013335.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-4458451\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/01\/ap_elizabeth-holmes_ap-photo-1024x675-1.jpg\" alt=\"The Associated Press\" width=\"990\" height=\"653\" \/><\/a><\/p>\n<p class=\"wp-caption-text\"><em>In this Nov. 2, 2016, file photo, Elizabeth Holmes, founder and CEO of Theranos, speaks at the Fortune Global Forum in San Francisco. Theranos announced July 7, 2016, that Holmes is banned from owning or operating a medical laboratory for two years. (AP Photo\/Jeff Chiu, File)<\/em><\/p>\n<\/div>\n<p>She insisted she never stopped believing that Theranos was on the verge of refining its technology.<\/p>\n<p>The court found differently on Monday.<\/p>\n<p>It sent a clear message to Silicon Valley founders and those who seek to follow them \u2013 consequences will follow when you say things to investors that aren\u2019t true.<\/p>\n<p>Judge Edward J. Davila, who presided over the trial, is expected to sentence the fallen entrepreneur at a later date. The 37-year-old could face decades behind bars.<br \/><em>AP contributed to this story<\/em><\/p>\n<h5><em><span>Follow Simon Kent on Twitter:<\/span> <a class=\"twitter-follow-button\" href=\"https:\/\/twitter.com\/SunSimonKent\" data-show-count=\"false\">Follow @SunSimonKent<\/a> <span>or e-mail to: skent@breitbart.com<\/span><br \/><\/em><\/h5>\n","protected":false},"excerpt":{"rendered":"<p>The fraud conviction of former Theranos CEO Elizabeth Holmes confirms that even the biggest names in establishment politics, tech and global business are not immune to falling for somebody who &#8230;<\/p>\n","protected":false},"author":82,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1186571","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1186571","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/82"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1186571"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1186571\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1186571"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1186571"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1186571"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}