Many of the letter writers weren't at the trial I don't believe, but they spoke to a different individual and their experiences. The scheme brought her fame, it brought her honor and it brought her adoration, Leach added. And if she doesnt, then its just like game on for whatever you want to do. That turned out to be an ominous prediction given that Theranos shut down in 2018 and the pair are now accused of orchestrating a multimillion-dollar scheme to mislead investors and patients about Theranos. She had become, as she sought, one of the most celebrated CEOs in Silicon Valley and the world, Leach said. The messages paint a picture of life for the couple: exchanges about meetings and staff attendance mix with flight details and updates on a pet fish and many expressions of love. Stanford Dropout. We know what happened there. Elizabeth Holmes, founder of failed blood-testing startup Theranos, was found guilty on four of 11 criminal-fraud charges. / Sign up for Verge Deals to get deals on products we've tested sent to your inbox daily. For her part, Holmess responses are often short. Sunny was her (much older) boyfriend and co-conspirator. Best gifts for the graduate with travel plans, CHP responds to suspicious activity at Carquinez, Man charged for allegedly possessing enough fentanyl, 13 arrested, stole millions from low-income SoCal, BestReviews.com - Top gifts to make everyone happy this spring, Mothers Day inspo: This foot massager has 20,000, Drew Barrymores Walmart collection is perfect for, Best Mothers Day gifts for the budding plant mom, Best Mothers Day Gifts for moms obsessed with books, Do Not Sell or Share My Personal Information. And one question I had for Rebecca is exactly which Elizabeth Holmes the jury will see, because when Theranos started to unravel, Holmes was argumentative and denied that anything was wrong. "That's a huge red flag. transcript. S1: The defense is sort of multipronged, but really central to it is this issue of a missing database. ", In a series of text messages also from April 2015, Balwani seems to acknowledge the poorly timed trip. Budget & Performance; Careers; Commission Votes; Contact; Contracts; Data Resources; Transparency. Justin Sullivan/Getty Images (Balwani). Inside the courtroom of Theranos' Elizabeth Holmes trial. The two also seemed to share a pet. These pictures that are in my courtroom express some of that. The story of Elizabeth Holmes and Theranos is an unbelievable tale of ambition and fame gone terribly wrong. And I think in the last year and a half Ive thought so much about. After all, this is Elizabeth Holmes were talking about. "We totally messed it up.". Even in the Sesi depositions, she only admits to mistakes and not knowing things. In filings unsealed last week, Holmes attorneys claimed she suffered a decade-long campaign of psychological abuse at the hands of Balwani, setting the stage for Holmes to accuse him of masterminding the fraud when she takes the stand. That's what provided and drove this area's economy. She wore Steve Jobs, inspired black turtlenecks, was photographed holding a miniscule vial of blood, and the companys marketing slogan was One tiny drop changes everything. "Very good :)" Holmes said, adding "He would have met longer.". Revealing these text messages was part of the prosecution's . I was I was pretty captivated by it. However, if it was revealed to them what this jury heard and of the conduct that was engaged in, I am quite confident they would not, they would not condone that. S1: Im really struck by the fact that all of these board members and investors, many of them never had to pay the piper or own up for for their part in promoting Elizabeth Holmes and her lies. . If you want a pest-free patio this spring, the most important thing you can do is take away those elements that bugs find desirable. Theranos Inc.founder Elizabeth Holmess sometimes banal, sometimes cringeworthy text messages with former president Ramesh Sunny Balwani have been released as an exhibit in her criminal fraud trial. S1: The second part of the prosecutions case is about patients, people who used Theranos blood tests and got inaccurate and sometimes devastating results. The letters referenced by venture capitalists and others who mentioned innovation and they talk about the VC world and those types of things. And I feel like in that way, maybe this this timing maybe is not great for her. Prosecutors in Elizabeth Holmes' fraud trial have released more text messages between the Theranos founder and Ramesh "Sunny" Balwani, her ex and the company's former president and COO, offering a . Youre one of those people, right? "You are the breeze in the desert for me," Holmes once texted Balwani, according to a tweet from NBC Bay Areaa journalist Scott Budman. "And so, that was it.". ", Referring to their investors, Balwani wrote, "They are not investing in our company they are investing in our destiny.. Leach pointed out how Holmes did not mention the use of commercial blood-testing machines in response, asking if Holmes now regrets that. These are letters in support of Ms. Holmes. One thing that was missing from those letters was and I didn't see it, they talked about, well, in the industry in this valley failure is quite normal. Like when Balwani texted her in April 2015: The Vegas trip is such a distraction. On cross examination by prosecutors on Tuesday, Holmes recollection became murkier. S2: I was afraid of needles. The commerce of this valley shifted then, didn't it, from agriculture to technology. Copyright 2023 NBCUniversal Media, LLC. Thousands were released by the prosecution and more were obtained by CNBC. They heard the statements that were made to them. S3: Elizabeth Holmes left to Stanford University at the age of 19 to build a company. Mattis said he invested $85,000 into the company and was granted Theranos stock options. Theranos founder Elizabeth Holmes and the companys president Ramesh Sunny Balwani exchanged intimate text messages that offer a rare look inside their once-secret romantic relationship. One of the claims in the Journal report was that of the 240 blood tests Theranos offered, just about 15 were being processed using the company's proprietary device known as the Edison. And I guess why you think she did that, you know, wearing a black turtleneck like Steve Jobs, like why do all that stuff? There was one letter I wrote the quote down. Shes an outlier. Sherry has a week of her life where she believes based on a Theranos test. One thing that the letters omit, though, they did not say, they did not say anything about, nor did they endorse, failure by fraud. That her breast cancer has returned. How do we keep that going? Cracking a smile at the question, Holmes replied: "No.". Holmes' direct examination by her lawyer concluded on Monday . Control your thoughts and dont let fear control you. At one point Ms. Holmes asks how their "baby bird" is doing and whether a friend could feed it. our Subscriber Agreement and by copyright law. Holmes and Balwani have both pleaded not guilty. They every single legal expert comes back to Elizabeth that Elizabeth Holmes herself what she presents to the jury, whether 12 people buy the story that Elizabeth Holmes did not intend to do wrong. Many of Holmess lies are documented, but Rebecca says that doesnt mean its a guaranteed victory. Grubhub, DoorDash, Uber Eats sue NYC over restaurant fee c Real Estate Board of New York to release key office occupancy data, Why the stock market is smarter than any of us including the bears, Clueless Yellen fails to stave off bank crisis as First Republic sinks, Twitter co-founder Jack Dorsey said company 'went south' after Elon Musk took over, Al Sharpton puts McDonald's 'on notice' over alleged racial discrimination, Gayle King says she doesnt have a desire to retire: I want more work, WNBA star Brittney Griner is heading to the Met Gala, Mariah Carey celebrates Moroccan and Monroes 12th birthday: My babies, NY Post Sports Reporter Zach Braziller breaks down the Knicks game 1 loss to the Heat, Kendall Jenner rocks sheer top, fur mini skirt for date night with Bad Bunny, Georgia player under fire after racist remark during 2023 NFL Draft on livestream. S1: said, no, I dont know. Hmm. Ranchers, farmers came to this valley from Europe, from Asia. It doesnt live up to what it would take for me to even consider covering it as a solution. Breathe and in every hour be conscious of your breath and breath out fear. Food came from this valley. Theranos seeks to revolutionize the medical diagnostics world by greatly increasing efficiency in laboratory testing. This idea of her lifestyle, which, again, is something her attorneys fought very hard to keep out of the courtroom. S1: Holmes promise to revolutionize blood testing. The government released the messages in anticipation that Holmes would try to blame Balwani for mismanagement of the company. "My water." "And ocean." "Meant to be only together tiger.". I can confidently say that Ive never told someone that theyre the breeze in the desert, but my text history is still embarrassing as hell. Balwani: I know what you are thinking and going thru. And this is something that for women, its almost unheard of. So there is I think theres a reverse engineering there that might have gone on for her, that its like the most basic things that a person could copy that suddenly in her mind made her the equivalent of a Steve Jobs and also in the mind of the press. Balwani will face a separate trial next year. CNBC has obtained nearly 600 pages of private text and Skype messages between former Theranos CEO Elizabeth Holmes and her then-boyfriend Sunny Balwani. The conclusion came roughly four months after testimony began, and. How do I keep bugs off my patio this spring? NBC Bay Areas Raj Mathai speaks with Business and Tech Reporter Scott Budman and Criminal Defense Attorney Paula Canny about the latest in the Theranos trial -- text message revelations. Alex Gallardo/AP I dont know. They did not respond. Meeker did not respond to CNBC's request for comment. Holmes, welling up and sniffling as she recited the years-old messages to her onetime boyfriend, looked uneasy as Leach pressed her on the particulars of the texts. Could, regrettably, Ms. Holmes partake in the fraud that the jury found existed, the conspiracy, and the three counts that they found that her culpable of? These letters speak to a recognition that companies fail, they falter. The text messages between Holmes and Ramesh 'Sunny' Balwani (above in 2019) may undermine her defense that she was a pawn manipulated by an abusive lover 'You are breeze in desert for me. In a text to Balwani, she wrote that she and Balwani "need to get ahead of all of it.". A. We know, the record shows, that the misrepresentation, there were many. You'll recall the wonderful innovation of those two individuals in that small garage in Palo Alto. To answer your questions, yes, a lot of the #Theranos text messages are (somewhat) romantic, but often with an undercurrent of paranoia:Elizabeth Holmes: "Was thinking about you this morning. And I wonder if that will influence the way the jury thinks about this, that that the stakes are higher, that its not just like, ooh, cool new technology start up, but that this has such profound effects on peoples lives. We're grateful for that technology that comes forward, and the world relies on it. What was the elevator pitch for Theranos and why do you think it was so appealing? Tyler was booted from the company after he raised a red flag about blood tests failing quality-control standards. The text messages also include Holmes and Balwani privately venting about health professionals from blood labs. Stay strong and focus on building business and turning the negative around thru science and publications and submissions," Balwani said in June 2016. The texts between Ms. Holmes and Mr. Balwani supported the jury's finding of the conspiracy. The file never worked. In a group text from April 2015, Holmes' brother, Christian, messaged her and Balwani about an upcoming trip to Las Vegas: "Not sure if these are options but from dan : presidential suite at four seasons $3k,mandarin apex suite view of strip $3400 or presidential $15k, or encore junior suite $700 view of golf course.". What what is that? What was it that caused Ms. Holmes, regrettably, to make those decisions that she did? I mean, she might not explicitly say that, but she. General Mattis said he left the Theranos board when former President Donald Trump nominated him for Defense Secretary. Balwani: Missing u in every breath and in every cell. S1: someone must have known that that these results were inaccurate if there were so many of them. It's unclear if Theranos paid for the trip. Hmm. Sign up for notifications from Insider! Holmes, 38, has been ordered to turn herself in April, 27, 2023, and she is expected to serve her sentence at a minimum-security women's facility about 100 miles outside of Houston, where Holmes grew up. She wants to democratize health care. Such messages could undercut a defense Ms. Holmes's lawyers said they may raise, alleging the pair were in an abusive relationship that left her under Mr. Balwani's control during the time of the alleged fraud conspiracy. "I don't like distractions ever.". The issue there is the SCC depositions which Elizabeth conducted in twenty seventeen in in the depositions. Holmes is currently on trial and accused of defrauding Theranos Inc investors of hundreds of millions of dollars. Text evidence in Holmes' fraud trial shows proclamations of love but also tensions. Was it removed by Holmes, Leach asked? Can you, I guess, describe some of the myths that she tried to make about herself? they couldn't do that. They could have tested it. She dropped out of Stanford at 19 and started Theranos with a promise that her machines could shake up an industry that hadnt changed in decades. U.S. District Judge Edward J. Davila, left, sits with U.S. Supreme Court Associate Justice Anthony M. Kennedy at a panel discussion in 2018. A series of messages from April 2015 show the pair took a luxurious weekend trip to Las Vegas. And it's clear from her comments that that spirit, her desire to produce, to make her company successful, perhaps, is what caused her to, as she told us just a moment ago, make certain mistakes. S1: But that doesnt seem to have changed. 1998 - 2023 Nexstar Media Inc. | All Rights Reserved. But what was it then? Holmes replied. But I would also say, look, Im sure that someone in the venture community who hears this conversation will come back to us and say, oh, press, you love to celebrate individuals in this community. In all the world, there is no love for you like mine.' I read an article just the other day, and Ive heard this from a handful of female founders who say they have struggled in the wake of Elizabeth Holmes to raise money from the venture community, because there are people in that community who look at Elizabeth Holmes and say, well, are you the next Elizabeth Holmes? And then I feel like the title, the Dropout was like a sort of nod wink at the self mythologising that Elizabeth Holmes put put forward. "-Likely refering to Journal reporter @JohnCarreyrou. During opening statements last week, her defense team told the jury that Holmes was on a quest to revolutionize healthcare. S2: OK, so theres this database that includes results of Theranos tests, millions of them over the course of a handful of years. "We were very worried about Mr. Carreyrou's story," Holmes testified, saying earlier that protecting trade secrets was the main concern. Have a great weekend and thanks for listening. We are edited by Torie Bosch and Allison Benedict. Dozens of text messages between Holmes and her ex-boyfriend (and ex-business partner) Sunny Balwani were read aloud during Holmes trial for fraud this week. "Sunny Balwani: "We need to stay focused and vigilant. Holmes is currently on trial and accused of defrauding Theranos Inc investors of hundreds of millions of dollars. No exotic automobiles or lavish lifestyle, just a desire to create for society's benefit through honest hard work, and that I would hope would be the continuing story, the legacy and practice of Silicon Valley. The court is not going to impose a fine in this matter. Plan, focus, stay organized and stay in control. Youre listening to what next TBD Im Lizzie OLeary, and Im talking with ABC News business correspondent Rebecca Jarvis. S2: The defense has filed a number of of documents to this effect that there could be a conversation around a mental disease or defect.
