Well since yesterday's blogpost, I have now whizzed through all eight episodes of "The Dropout" starring Amanda Seyfried as Elizabeth Holmes. I guess that some visitors will have already seen it as it was released in the summer of 2022.
You have probably heard of Elizabeth Holmes. She dropped out of Stanford University in order to pursue a dream that would incidentally make her fabulously rich. That dream was of a blood testing system which, with one drop of blood, would diagnose health issues such as cancer, sepsis, diabetes, HIV and host of other conditions.
In one visit to a wellness centre, a member of the public could get answers almost immediately. The drop of blood would be on something like a credit card which would be popped into a fancy machine and - hey presto - the result would be displayed. Holmes's company was called Theranos - a combination of the words "therapy" and "diagnosis". Between 2003 and 2013, Theranos garnered a lot of investment and a lot of prestige too. It was scheduled to become the next big thing.
The trouble was that the system never worked. It was all a big lie and ultimately Holmes and her inner circle could not hide that fact. They had tried desperately to create a system that would match the dream but they always fell short and instead resorted to deception.
In the series, Elizabeth Holmes emerges as some sort of manic depressive with strong narcissistic tendencies. She comes to believe in her own hype and bubbles with hidden anger and frustration whenever anybody tries to cross her or ask searching questions.
The Theranos offices and labs are ultra-modern but also a hive of secrets and unsaid words. People get sacked and head chemist Ian Gibbons played by Stephen Fry commits suicide. The Holmes effect may bamboozle some but it riles others.
By the end of the series, the Theranos bubble has been burst and Elizabeth Holmes must at last face the law.
One of the morals of this recent commercial tale is that if you are going to build a great business you must build it on solid ground. The centre should not be hollow and internal connections should certainly be characterised by integrity, mutual understanding and a shared vision. "Follow my leader" may be a fun game for kids in a school playground but in the working world of adults it can seem like the blind leading the blind.
In 2022, Holmes was sentenced to 11+1⁄4 years in jail for fraud. After various appeals, she finally began that sentence last November and is not expected to be released from prison until 2032. She made a lot of influential people look very stupid.
The real Elizabeth Holmes
I had not heard of Elizabeth Holmes, but I have heard of Elizabeth Homes. Google it now to reserve your place.
ReplyDeleteAre they retirement homes with a red pull cord for emergencies?
DeleteTotal narcissist who thought she could get over on everyone.
ReplyDeleteThe drama suggests that it was like a runaway horse and after it had bolted she could not get it back in the stable. It was too late.
DeleteLike I said when you mentioned Dropout previously, I'd not heard of Theranos or Elizabeth Holmes. But now that you said Stephen Fry is in it, I think I really want to watch the series.
ReplyDeleteThe solid foundation thing is as old as Methusalem. Expressions like something stands on feet of clay or is built on sand are all taken from the Bible and no doubt have been around centuries before the first scribes put ink to vellum (or papyrus), writing down what they felt were the words of God. And yet, no matter how long this basic truth has been known, there will always be those who believe that it does not apply to them.
You are right. The moral of this modern tale is hardly new.
DeleteIt sounds like something I wouldn't want to see.
ReplyDeleteA true but dramatised tale of our times. No you wouldn't want to watch that Elsie.
DeleteIs she related to Sherlock? I said that in my beautiful Basil Rathbone voice.
ReplyDeleteBasil Rathbone did not speak with an Irish accent!
DeleteI am familiar with the Theranos scandal but wasn't aware there was a series about it all. I will try to find it sometime when I catch up on the ones I'm currently watching.
ReplyDeleteI suspect you will be fascinated by it Ed.
DeleteI am not sure what to say, I know about her and her crime but I don't think I need to know detail. Bad person, gaoled, I am happy.
ReplyDeleteThat means you would not want to see a drama about Ned Kelly.
DeleteWithout intent I know way more than I need to know about the Kelly family, so you are correct.
DeleteI can remember when investor waited for cashflow before pouring in money.
ReplyDeleteHype is everything.
DeleteWouldn't it have amazing if it had worked? The test I mean.
ReplyDeleteWell yes - it would have been. But it was just a pipe dream. With today's technology it just could not happen. You might as well invent free food dispensers so that all over the world malnourished people can access square meals at the push of a button.
DeleteI don't understand people like that, who can lie with impunity, or so it seems. How can they look at themselves in the mirror. I have lied in my life and have always regretted it.
ReplyDeleteSounds like a tragedy for everybody. I'm sure that many people with major health problems were gullible and disappointed. She's where she should be and for a long time. Other fraudsters should be careful!
ReplyDeleteElizabeth Holmes was my first girlfriend k she was and is ginger
ReplyDeleteShe sounds like Trump.
ReplyDelete