Ten years ago, Elizabeth Holmes’ biotech startup Theranos was valued to be worth $10 billion. Five years ago, she was indicted for wire fraud. Finally, today, Holmes reported to prison to begin serving her sentence of 11 years and 3 months.
It usually doesn’t take so long after an indictment for a defendant to be found guilty and sent to prison. But the fall of the woman formerly hailed as the next Steve Jobs has been painfully drawn out, with Holmes’ legal team playing every card in the deck to delay this inevitable day.
The story of Theranos is all too familiar now: a young Stanford dropout set out to revolutionize healthcare with cutting-edge blood testing technology, scored high-profile investors and fawning press coverage, but it all came crashing down in 2015, when a Wall Street Journal reporter revealed that Theranos’ technology didn’t actually work. To make matters worse, unsuspecting patien...
