Theranos, Elizabeth Holmes, and the Cult of Silicon Valley

Summary: Established in 2003, Theranos promised to save people from pain and disease through early detection and lead the way into an era of cheaper, more consumer-driven health care. Holmes' big idea was to replace traditional venous blood draws in a doctor's office, hospital, or lab with simple finger pricks. One day, she said, patients would be able to do the tests at home and upload the results for their doctors. Holmes stacked her board of directors with heavyweights such as former and future cabinet members George Schultz, Henry Kissinger, and Gen. James Mattis. She held fundraisers for Hillary Clinton and cadged hundreds of millions of dollars from investors such as the Walmart heirs, Rupert Murdoch, and Betsy DeVos. For a time, her company was worth more than Spotify or Uber. Today, Theranos is on the verge of liquidation and its backers have seen their investments wiped out. Holmes may face charges.