Exclusive: How Elizabeth Holmes’s House of Cards Came Tumbling Down. The War Room It was late morning on Friday, October 18, when Elizabeth Holmes realized that she had no other choice.
She finally had to address her employees at Theranos, the blood-testing start-up that she had founded as a 19-year-old Stanford dropout, which was now valued at some $9 billion. Two days earlier, a damning report published in The Wall Street Journal had alleged that the company was, in effect, a sham—that its vaunted core technology was actually faulty and that Theranos administered almost all of its blood tests using competitors’ equipment.
It has been sixteen years since our previous communication. In that time the People of the Internet — you and me and all our friends of friends of friends, unto the last Kevin Bacon — have made the Internet an awesome place, filled with wonders and portents.