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Despite apatchy record,Theranos's blood work services wereoffered to doctors and patients, many of whom put their trustits technologyand the promisesHolmes made. Theranos founder charged with $700m fraud. During that time, the business plan was to work with drug companies on their clinical trials. Back when Elizabeth Holmes was a media darling, many of the stories about the world's youngest female self-made billionaire included the same line about her past: Elizabeth Holmes' uncle was her inspiration to invent Theranos' Edison blood-testing machine after he died of skin cancer. In a stunning admission, Holmes acknowledged on the witness stand Tuesday that every issue Cheung had raised was correct. The Rise and Fall of Elizabeth Holmes, Founder of Theranos But the breadth of Theranos's technological failings became a side issue in the trial whenHolmestook the stand. She would then send friends videos of voice memos in character as Holmes giving a TED talk or pitching investors. Not all investors asked for this information, she testified. Within a year the company began shutting down its labs and laid off more than 40% of its full-time employees. It was this that Elizabeth Holmes who often made a point in interviews to mention her phobia of needles and blood said shewanted to change by starting the company at age 19. 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. I believed in the company and wanted to put everything I had into it, she said. She currently awaits sentencing. According to CNBC, the new mother is living on a nine-bedroom Silicon Valley . Holmes testified that she had owned 51 percent of Theranos and was able to remove or fire anyone she wished, including Balwani, lab directors and board members, effectively placing her in control of the company. The key issuein the trial was whether sheintended to mislead investors and patients, or whether she was a failed businesswoman, naive to how bad the situation was.

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