Elizabeth Holmes hasn’t spoken to the media since 2016. Now convicted on criminal fraud charges — and counting down the days until she reports for prison — Holmes finally breaks the silence in a profile published today in the New York Times.
“I made so many mistakes,” Holmes says, “and there was so much I didn’t know and understand, and I feel like when you do it wrong, it’s like you really internalize it in a deep way,”
Billy Evans, Ms. Holmes’s partner and the father of their two young children, pushes a stroller with the couple’s 20-month-old son, William… At one point, I tell her that I heard Jennifer Lawrence had pulled out of portraying her in a movie. She replied, almost reflectively, “They’re not playing me. They’re playing a character I created.” So, why did she create that public persona? “I believed it would be how I would be good at business and taken seriously and not taken as a little girl or a girl who didn’t have good technical ideas,” said Ms. Holmes, who founded Theranos at 19. “Maybe people picked up on that not being authentic, since it wasn’t…”
Her top lieutenant at Theranos, and much older boyfriend at the time, Ramesh Balwani, was found guilty of 10 counts of wire fraud and two counts of conspiracy to commit wire fraud at Theranos. He began a 13-year prison sentence last month. On Thursday, his legal team filed an appeal with the Ninth Circuit… She said Mr. Balwani did not control her every interaction or statement at Theranos, but she “deferred to him in the areas he oversaw because I believed he knew better than I did,” and those areas included the problematic clinical lab… Ms. Holmes’s story of how she got here — to the bright, cozy house and the supportive partner and the two babies — feels a lot like the story of someone who had finally broken out of a cult and been deprogrammed. After her relationship with Mr. Balwani ended and Theranos dissolved, Ms. Holmes said, “I began my life again.”
But then I remember that Ms. Holmes was running the cult…
What does she think would have happened if she hadn’t garnered so much early attention as the second coming of Silicon Valley? Ms. Holmes does not blink: “We would’ve seen through our vision.” In other words, she thinks if she’d spent more time quietly working on her inventions and less time on a stage promoting the company, she would have revolutionized health care by now. This kind of misguided talk is the one consistent thread in my reporting on who Ms. Holmes really is. She repeatedly says that Theranos wasn’t a get-rich-quick scheme for her; she never sold her shares and didn’t come out of it wealthy. Ms. Holmes’s parents said they borrowed $500,000 against their Washington, D.C.-area home to post Ms. Holmes’s bond…
She maintains the idealistic delusion of a 19-year-old, never mind that she’s 39 with a fraud conviction, telling me she is still working on health care-related inventions and would continue to do so behind bars. “I still dream about being able to contribute in that space,” Ms. Holmes said. “I still feel the same calling to it as I always did and I still think the need is there.” If your head is exploding at how divorced from reality this sounds, that’s kind of the point. When Ms. Holmes uses the messianic vernacular of tech, I get the sense that she truly believes that she could have — and, in fact, she still could — change the world, and she doesn’t much care if we believe her or not…
It’s this steadfast (or unhinged?) belief that has kept Ms. Holmes fighting, even though a guilty plea would have likely helped her chances of remaining free.
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