SAN JOSE, Calif. (AP) — Fallen Silicon Valley star Elizabeth Holmes convinced media mogul Rupert Murdoch and other billionaires to invest in her biotech startup, despite warnings that the unconventional blood tests were dangerously unreliable.
The evidence emerged Tuesday in a high profile lawsuit. It was about allegations that Holmes, who founded Theranos when she was 19, defrauded investors and customers.
Holmes became a Silicon Valley phenomenon briefly because of her revolutionary blood testing technology.
According to the Associated Press, Holmes’s start was quickly unraveled because the blood-testing machine, called Edison, produced inaccurate test results and didn’t work the way Holmes described it.
Theranos was founded by Holmes after she left Stanford University. Her dream was to be the next Steve Job.
Now, she is at risk of being remembered for being a con man.
However, Holmes was once the director of Theranos. This is a testimony that prosecutors are trying to convince.