36 min
15: Theranos, Elizabeth Holmes, and Myths about American Capitalism and Exceptionalism Just a Typical ADHDer
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- TV Reviews
I wanted to talk about this since listening to the podcast "The Dropout." I recorded this months later. I edited it months after that. Anyway, here I rant about Elizabeth Holmes, Theranos, and capitalism.
In 2003, the 19-year old Elizabeth Holmes dropped out of Stanford University to found a medical company. She soon named it Theranos and aimed to create a blood testing device that could run hundreds of medical tests from a single drop of blood. Some of the richest, most powerful people in the world invested in the company until it was supposedly worth $10 billion.
But the device never actually worked. Investigative reporter John Carreyrou exposed the company and wrote the book Bad Blood, which detailed the story of Theranos. Lots of people have marveled at this outrageous fraud, apparently forgetting that Donald Trump is president. To be fair, I also find this situation to be fascinating and shocking, but I'm also somewhat surprised at how many people, perhaps completely blinded by the existence of a female businesswoman, didn't understand how something like this could happen in a society that fetishizes overwork, individualism, and unearned confidence. It's the American Dream, baby!
*At one point I say, "a lot of big investors weren't warned," but I think I meant to say, "smaller investors weren't warned." I have more sympathy for them.
**This was recorded and written up BEFORE coronavirus madness.
Image by Ewa Urban from Pixabay
It turns out, I am really resistant to accepting sponsorships (especially scripted ones). My inner child screams, "Don't tell me what to do!" So if you want, make a small donation. You can listen and not donate. You can donate and not listen. You can even do both or neither.
https://anchor.fm/noellematteson/support
---
Support this podcast: https://podcasters.spotify.com/pod/show/noellematteson/support
I wanted to talk about this since listening to the podcast "The Dropout." I recorded this months later. I edited it months after that. Anyway, here I rant about Elizabeth Holmes, Theranos, and capitalism.
In 2003, the 19-year old Elizabeth Holmes dropped out of Stanford University to found a medical company. She soon named it Theranos and aimed to create a blood testing device that could run hundreds of medical tests from a single drop of blood. Some of the richest, most powerful people in the world invested in the company until it was supposedly worth $10 billion.
But the device never actually worked. Investigative reporter John Carreyrou exposed the company and wrote the book Bad Blood, which detailed the story of Theranos. Lots of people have marveled at this outrageous fraud, apparently forgetting that Donald Trump is president. To be fair, I also find this situation to be fascinating and shocking, but I'm also somewhat surprised at how many people, perhaps completely blinded by the existence of a female businesswoman, didn't understand how something like this could happen in a society that fetishizes overwork, individualism, and unearned confidence. It's the American Dream, baby!
*At one point I say, "a lot of big investors weren't warned," but I think I meant to say, "smaller investors weren't warned." I have more sympathy for them.
**This was recorded and written up BEFORE coronavirus madness.
Image by Ewa Urban from Pixabay
It turns out, I am really resistant to accepting sponsorships (especially scripted ones). My inner child screams, "Don't tell me what to do!" So if you want, make a small donation. You can listen and not donate. You can donate and not listen. You can even do both or neither.
https://anchor.fm/noellematteson/support
---
Support this podcast: https://podcasters.spotify.com/pod/show/noellematteson/support
36 min