“Never give a sucker an even break.” - W.C. Fields
Good news for all you A-List dupes who fell for Theranos founder Elizabeth Holmes: She’s staying behind bars.
Holmes, 41, and her business partner and boyfriend, Ramesh Balwani, 59, lost their appeal on Monday after claiming legal errors that they couldn’t prove any better than their overhyped blood-testing device.
They claimed Theranos had a gadget that could detect a wide range of illnesses from just a tiny drop of blood. Their story came apart in 2015 when a Wall Street Journal investigation revealed that her company was using commercially available devices for its test results.
Holmes leaves behind two small children, the 800 employees Theranos had at it’s peak, and a slew of jilted investors, most of whom should have known better.
No sympathy for the aristocrats, media outlets and institutions she fooled. They should be panned for lending credibility to this poser who donned black turtlenecks and affected a deep voice like she was the next Steve Jobs or something.
Keep reading with a 7-day free trial
Subscribe to Business Blunders to keep reading this post and get 7 days of free access to the full post archives.