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May 18, 2023

Elizabeth Holmes, aged 19, came up with an idea that she believed could change the world.

There was just one problem: it didn’t work

However, that didn’t stop her from creating a multi-billion dollar company, Theranos, on the back of it.

On Wednesday the illusion finally shattered as she lost control of the firm and was fined $500,000.

Neither she nor the company admits any wrongdoing, but the dream that created Theranos and made Ms. Holmes a billionaire was well and truly dead.

Theranos founder charged with $700m fraud.

Like all good internet start-ups, Theranos and Ms. Holmes had a great story. Her father worked for government agencies, often overseeing relief work and she was brought up wanting to change the world for the better.

Aged 19, she dropped out of Stanford University shortly after filing her first patent, for a drug-delivery patch that could adjust the dosage to suit an individual patient’s blood type, and then update doctors wirelessly.

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