Theranos: A venture based on nothing

Abstract

Want to be a billionaire was what Elizabeth Holmes responded to a relative’s question on what she wanted to become when she grew up. Surprisingly, then she was only nine or ten years old as ne Carreyrou’s Bad blood: Secrets and lies in a Silicon Valley start-up. Elizabeth was nurtured by highly competitive parents (Christian and Noel Holmes) who wanted her to carve out a name for herself in the world through engineering inventions. Her lustrous lineage comprised of Charles Louis Fleischmann, founder of Fleischmann Yeast Company, and Dr. Christian Holmes, who established Cincinnati General Hospital and University of Cincinnati's medical school. Dr. Christian Holmes was also well connected in political and business circles. Elizabeth’s father, Christian, was upset that his father and grandfather for loosing the family’s wealth and reputation and therefore encouraged Elizabeth to live a purposeful life. Thus, to truly leave a mark, Elizabeth believed that “she would need to accomplish something that furthered greater good, but just not become rich” as John Carreyrou writes. Since childhood, Elizabet