What we learned this week in the trial of Elizabeth Holmes
CNN
This week in the criminal trial of Theranos founder Elizabeth Holmes, jurors heard from a second former lab director of the blood-testing startup, former executives of the two major retailers that inked deals with the failed company, as well as the beginning of testimony from a former employee who was involved in its critical Walgreens partnership and device demonstrations.
Holmes, once hailed as the next Steve Jobs, is facing a dozen federal fraud charges over allegations that she knowingly misled investors, doctors, and patients about her company's blood testing capabilities in order to take their money. Holmes has pleaded not guilty and faces up to 20 years in prison.
Theranos was once valued at $9 billion, with investors and partners taken by the promise that its technology could efficiently test for conditions like cancer and diabetes with just a few drops of blood taken by finger stick. But once Wall Street Journal reporter John Carreyrou began poking holes into the capabilities of its technology and its blood testing methods, the company began to unravel.
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