What was Theranos?
Theranos Inc. is an American company founded in 2003, privately held, that claims to be a breakthrough health technology company.
Elizabeth Anne Holmes, a former Stanford University graduate and the founder of Theranos, was born February 3, 1984, in Washington, D.C.
What were they known for?
Theranos claimed that it had devised blood tests that required very small amounts of blood. Additionally, the tests could be performed rapidly and accurately, all using compact automated devices which the company had developed. These claims were later proven to be false
In 2015 everything started to unravel, when the company could not prove the validity of their data and testing.
Fraud runs in Elizabeth's veins as her father was a former Enron vice president, a company that web bankrupt after some kind of accounting-fraud scandal
The case
The judge presiding over Holmes’ trial and sentencing said the landmark case should be a cautionary tale for startup founders who are willing to overhype the capabilities of their products.
Judge Edward Davila said: “I suppose we step back and ask what is the pathology of fraud? Is it the refusal to accept responsibility or express contrition in any way? Perhaps that is the cautionary tale that will go forward from this case."