How Did Elizabeth Holmes Hide Theranos Problems?
Holmes has no background in medical field and no public proof Theranos blood test worked, yet investors and the media were convinced she had successfully designed a diagnostic machine.
Here is how Elizabeth Holmes Fooled the Public:
- Holmes described herself as a martyr who was sacrificing everything to make a difference. This made people root for her and be against any doubters. After the article by Wall Street Journal was published, Holmes said “This is what happens when you try to change things. First they think your crazy and then they try to fight you.”(Check out the rest of the interview, here).
- Second, she dressed in black turtlenecks (the same outfit as Steve Jobs) in every interview and magazine cover positioning herself as a figure of Silicon Valley innovation.
- Last, Holmes knew how to avoid questions about the Theranos labs but describe the company to make people feel excited in its vision. One Forbes reporter said he had doubts about Theranos labs when interviewing Holmes “but exited the interview briefly fantasizing about what it would be like to work at Theranos, something I’ve never done after interviewing a biotech CEO.”
When Theranos and Elizabeth Holmes were finally exposed as frauds, it became clear just how brilliantly Holmes had lead people on. She knew how to manipulate answers to make questions about her technology seem outrageous and that Theranos blood test had already proven that it worked.
Keep in mind, Theranos was also known for having employees sign heavy confidentiality agreements and were not afraid to sue or fire anyone who talked.
How Did The Theranos Scandal Get Out?
The fraud came to light by a former employee, Tyler Schultz. He happened to be the grandson to George Schultz, a former secretary of state and also on the board for Theranos. When Tyler worked for them, he witnessed machines failing to pass quality control tests and employees throwing away outlying results. Tyler quit the company and reported the Theranos blood test to a reporter. Slowly the revelation brought down the company but not before Theranos threatened to sue him. Unfortunately, after blowing the whistle on the company, Tyler’s grandfather stopped talking to him because he felt Theranos CEO, Holmes, could have come through on all the promises.
Looking back upon Theranos
Who knows what the future for blood testing may be but make sure you are getting blood tests from reliable laboratories with CPT1 Trained Phlebotomists. At PhlebotomyU, we focus on educating and training the highest quality graduates for health care.