Inside Business

Elizabeth Holmes has been convicted over the Theranos fraud – but Silicon Valley will never learn

Greed, fear and desire are all alive and well in California. Tech entrepreneurs with a good sales pitch will always be able to part fools from their money, writes James Moore

Tuesday 04 January 2022 19:37
<p>Theranos founder Elizabeth Holmes on trial for fraud </p>

Theranos founder Elizabeth Holmes on trial for fraud

Silicon Valley has done its best to try and disassociate itself from Elizabeth Holmes and Theranos.

It was a healthcare company really, less a tech company. Backers included Rupert Murdoch, the family of Donald Trump’s education secretary Betsy DeVos, the Cox family – owners of Cox Enterprises, a US conglomerate – none of them tech specialists. Those that were (the smart ones) passed on the “opportunity”.

But while plenty were left unmoved by Holmes’ pitch – technology that would revolutionise diagnostic testing with just the prick of the finger and create the next Apple in the process – there were plenty in the Valley who said sign me up!

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