Teranos and its founder, President Joe Biden, are among the political elites who have fallen under the spell of former Silicon Valley star Elizabeth Holmes, who was accused of defrauding investors on Monday.
Biden, then vice president, visited Teranos ’headquarters in California in 2015 and sat down with his co-founder in a roundtable discussion, calling the facility a“ lab of the future ”.
“Talk about inspiration,” Biden said in a press release released by Theranos after the visit. “It’s an inspiration. Elizabeth, I’m amazed at what you can do. ”
Biden’s visit comes just months before the Wall Street Journal published a revelation that Holmes was misleading investors and patients about blood test technology. The company, once valued at $ 9 billion, was liquidated by 2018 and Holmes was found guilty on Monday of three counts of fraud and one conspiracy.
But before Holmes’s stupidity was exposed, Biden said the Obama administration saw Teranos as the future of medicine.
“It’s the lab of the future,” Biden said. “The most impressive thing for me is that you not only make these lab tests more convenient, but you use historically lower prices, which is a small fraction of the prices you get now, while maintaining the highest standards and allowing people to live or work. put them in a barrio or castle to help them control their health.
Biden also told Holmes that he was “sharing your views on a health care paradigm focused on prevention” with then-President Barack Obama.
Both the vice president’s office and Theranos documented the visit in extensive tweets recently found by the Washington Examiner.
Biden was not the only powerful man to embrace Teranos. The company’s board includes former secretaries of state Henry Kissinger and George Schultz, former defense secretaries James Mattis and William Perry, and former senators Bill Frist and Sam Nunn.
Other notable investors who have lost millions of dollars to Theranos include the Walton family, the Walton family, the billionaire DeVos family, which includes Trump administration education secretary Betsy DeVos, and the owner of The Post and The Wall Street Journal. There is Rupert Murdoch.
Prior to the magazine’s disclosure, Holmes decorated the covers of magazines such as Fortune, Forbes and Inc. and was also accepted by the media.
Shortly after Biden’s visit, the White House’s YouTube channel posted a short video of Holmes “working on women’s empowerment in science, technology, math and business, as well as advances in global health.”
According to an invitation found by the Washington Examiner, Holmes was also invited to a White House dinner in 2015 in honor of the Japanese prime minister.
In Holmes ‘trial, a jury found that he had lied to some investors by lying about the possibilities of Teranos’ blood test technology. However, the jury also cleared him of three additional charges of fraud and one conspiracy, and failed to reach a verdict on three more charges.
Holmes could face up to 20 years in prison for each of the four charges, although most court observers say his sentence will be almost shorter.
Holmes’ ex-boyfriend and second-ranked Ramesh “Sonny” Balvani in Theranos will face the same charges as Holmes in a separate trial later this year.