In this History episode we focus on the Theranos fraud — Elizabeth Holmes, a blood-testing machine called the Edison that never worked, and a $9 billion valuation built on fabricated clinical data, ghostwritten scientific articles, and a board of former Secretaries of State and Defense who never required proof that the technology functioned. Nearly 1 million patient test results were ultimately voided or corrected. Patients received false positive results for HIV and cancer and miscarriage.
We trace the VIGOR trial data manipulation, the FDA's failure to detect the laboratory problems until a journalist uncovered them, and the specific clinical presentations Theranos made to investors using data that was known internally to be unreliable. Holmes was convicted in January 2022 on four counts of investor fraud and sentenced to 135 months in federal prison. She was acquitted on the patient fraud counts. Her partner Ramesh Balwani was convicted on all twelve counts. The patients who received false diagnoses were not recognized as fraud victims by the jury.
This podcast features narration with a synthetic AI voice.
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