But in 2014, the billion-dollar company and its founder, Elizabeth Holmes, were on top of the world. Back then, Theranos was a revolutionary idea thought up by a woman hailed as a genius who styled herself as a female Steve Jobs. Holmes was the world’s youngest female self-made billionaire, and Theranos was one Silicon Valley’s unicorn startups.
Then it all came crashing down.
The shortcomings and inaccuracies of Theranos’s technology were exposed, along with the role Holmes played in covering it all up. Theranos and Holmes were charged with massive fraud, and the company was forced to close its labs and testing centres.
On Friday, June 15th, Theranos announced Holmes was stepping down as CEO, and the Justice Department announced a grand jury had indicted Holmes and former Theranos president and COO Sunny Balwani for “alleged wire fraud schemes.”
Related: Elizabeth Holmes could face decades in prison