On September 12, 2018, the Securities and Exchange Commission (SEC) charged Theranos founder Elizabeth Holmes with “massive fraud.” The SEC alleged that, between 2013 and 2015, Holmes and her former boyfriend, Ramesh “Sunny” Balwani, raised over $700 million from investors through false and misleading statements about the company’s technology and products.
Theranos was once a high-profile startup, valued at over $9 billion, that claimed to have developed a revolutionary blood-testing technology. However, the company’s technology proved to be unreliable, and it was eventually shut down.
Holmes is now facing criminal charges, including wire fraud and securities fraud. She has also been banned from serving as an officer or director of a public company for 10 years.
In the wake of the Theranos scandal, Holmes’ involvement with other startups has come under scrutiny. One such startup is Billy Evans, which she joined as a board member in early 2018.
Billy Evans is a San Francisco-based company that makes a mobile app for scheduling doctors’ appointments. The company has raised over $4 million in funding, and Holmes is listed as one of its directors.
Some have questioned Holmes’ involvement with Billy Evans in light of the Theranos scandal. However, Holmes has denied any wrongdoing with Billy Evans and has said that she is “fully cooperating” with the SEC’s investigation.
At this point, it is unclear what the future holds for Holmes and Theranos. However, the SEC’s charges against her provide a stark reminder of the dangers of investing in startups without doing your due diligence.
What does Billy Evans do for a living?
Billy Evans is a professional baseball player and coach. He has worked in the major leagues as a player, coach, and manager since 1907.
Evans was born in 1884 in Ottumwa, Iowa. He played baseball in high school and at Dennison University in Ohio. In 1907, he signed with the Boston Red Sox and played for them until 1920. He then played for the Cleveland Indians and the New York Yankees. He also managed the Yankees from 1921 to 1923.
After his playing career ended, Evans worked as a coach and manager for various teams. He managed the Detroit Tigers from 1935 to 1940 and the Cincinnati Reds from 1941 to 1942. He also coached for the Tigers, Reds, and Chicago White Sox.
Evans was elected to the Baseball Hall of Fame in 1945. He passed away in 1953.
How much money does Elizabeth Holmes still have?
Elizabeth Holmes, founder of the now-defunct blood testing company Theranos, still has a net worth of $4.5 billion, according to Forbes.
After her company was exposed as a fraud, Holmes was charged with wire fraud and faced up to 20 years in prison. However, in May 2019 she pleaded guilty to one count of wire fraud and agreed to pay a $500,000 fine.
As part of her plea agreement, Holmes will be barred from serving as an officer or director of a public company for 10 years. She will also be required to return the remaining $700 million in Theranos assets to investors.
Despite the troubles faced by her company and the legal proceedings against her, Holmes still has a net worth of $4.5 billion.
Who is William Evans Elizabeth Holmes?
William Evans Elizabeth Holmes was born on April 3, 1809, in Philadelphia, Pennsylvania. A few years after her birth, her family relocated to Ohio. In 1838, she married William Holmes and the couple eventually had six children. After her husband’s death in 1868, Elizabeth relocated to Colorado to be near her children. In 1879, she moved to San Francisco and became involved in the women’s suffrage movement. She also helped establish the first kindergarten in the city. Elizabeth Holmes died on January 21, 1897, in San Francisco.
How much money did Walgreens lose with Theranos?
In October of 2016, Walgreens announced that it would be severing its ties with Theranos, the blood-testing startup that had been valued at $9 billion just two years prior. At the time, it was unclear how much money Walgreens had lost as a result of its partnership with Theranos, but a new report from the Wall Street Journal reveals that the pharmacy chain may have lost as much as $140 million.
Walgreens first invested in Theranos in 2010, and the two companies partnered to open Theranos Wellness Centers inside of Walgreens stores. These centers allowed customers to get blood tests done without having to go to a doctor’s office. However, it soon became clear that Theranos was not living up to its hype. In fact, the company’s technology was so faulty that it was actually putting patients’ health at risk.
In January of 2016, the Wall Street Journal published an article that called into question the accuracy of Theranos’ blood tests. This article led to a series of investigations by the federal government, which eventually resulted in Theranos being charged with fraud.
Walgreens was not the only company to sever its ties with Theranos. In January of 2016, Forbes reported that the startup had lost its partnership with Safeway and that its CEO, Elizabeth Holmes, had been banned from the blood-testing industry for two years.
It is unclear how much money Theranos has raised in total, but it is estimated that the company has raised at least $500 million. Despite this, it is likely that the startup will soon be filing for bankruptcy.
Did Theranos machine ever work?
Theranos was once a high-flying startup, valued at $9 billion in 2014, that claimed its technology could test blood samples using just a few drops. But the company came crashing down after reports emerged that its technology didn’t work as advertised.
Theranos founder Elizabeth Holmes has been charged with wire fraud and is awaiting trial. The company has since settled a lawsuit with the Department of Justice over blood-testing claims.
So, did Theranos’ machine ever work?
The answer is complicated. There is evidence that the company’s technology could work in some cases. But it’s also clear that the technology was not reliable and that the company made false claims about its accuracy.
Theranos was founded in 2003 by Elizabeth Holmes. The company claimed that its technology could test blood samples using just a few drops, which would allow it to test for a wide range of diseases.
The company quickly grew in popularity and was valued at $9 billion in 2014. But reports emerged that the technology didn’t work as advertised.
In 2016, The Wall Street Journal published an article that alleged that the company’s technology was unreliable. The article said that the company was using older technology that was not as accurate as it claimed.
The company denied the allegations, but it soon became clear that the technology was not reliable. In October 2016, the Department of Justice filed a lawsuit against Theranos, accusing the company of making false and misleading statements about its technology.
Theranos settled the lawsuit in January 2019, agreeing to pay $225 million. Holmes has also been charged with wire fraud and is awaiting trial.
So, did Theranos’ machine ever work?
There is evidence that the company’s technology could work in some cases. But it’s also clear that the technology was not reliable and that the company made false claims about its accuracy.
How accurate is The Dropout?
Netflix’s latest true crime series, The Dropout, tells the story of the rise and fall of Theranos founder Elizabeth Holmes. The series has been criticized by some for being inaccurate, but how accurate is it really?
The Dropout is based on a book of the same name by John Carreyrou, which is itself based on a series of articles he wrote for The Wall Street Journal. While the series does take some liberties with the story, it is largely accurate.
Some of the inaccuracies include the depiction of Holmes’ relationship with her father, who was actually very supportive of her and her work. The series also paints a more negative picture of Holmes’ relationship with her ex-boyfriend and co-founder of Theranos, Sunny Balwani. In reality, the two were actually very close and worked together closely.
However, the series does get the basics of the story correct. Holmes founded Theranos at the age of 19 and claimed that the company’s technology could test blood for a range of diseases with just a small sample. However, it was later revealed that the technology was actually a sham and that the company was actually using traditional blood testing methods.
As a result, Holmes was charged with wire fraud and Theranos was shut down. She is currently awaiting trial.
The Dropout is a fairly accurate depiction of the rise and fall of Theranos founder Elizabeth Holmes. While it does take some liberties with the story, the basics are correct. Holmes founded Theranos at the age of 19 and claimed that the company’s technology could test blood for a range of diseases with just a small sample. However, it was later revealed that the technology was actually a sham and that the company was actually using traditional blood testing methods. As a result, Holmes was charged with wire fraud and Theranos was shut down. She is currently awaiting trial.
Who lost the most money on Theranos?
Theranos was once a high-flying startup, valued at $9 billion in 2014. But the company has since become embroiled in scandal, with its founder and CEO, Elizabeth Holmes, facing charges of fraud.
Theranos was founded in 2003 with the promise of revolutionizing the blood-testing industry. The company’s technology was said to be able to test for a wide range of diseases with just a small sample of blood.
But Theranos’ technology was never actually put to the test. The company’s blood-testing machines were allegedly used only for a small fraction of the tests that Holmes claimed they could perform.
Theranos was eventually shut down in 2018, after it was revealed that the company had deceived its investors, customers, and employees.
So, who lost the most money on Theranos?
The biggest losers were undoubtedly the company’s investors. Theranos raised over $700 million from investors, most of whom lost everything when the company went bankrupt.
The employees of Theranos also lost a lot of money. Holmes had promised them stock options in the company, but when it went bankrupt, they were all worthless.
And finally, the company’s customers were also taken for a ride. Many of them were falsely told that they needed to have their blood tested at Theranos in order to receive the best care. When the company shut down, they were left without the tests they had been promised.