Theranos and the cult of the entrepreneur

Some fear founder Elizabeth Holmes’ conviction for fraud will hurt the innovation economy. But her rise was fuelled by problematic trends at the heart of the American political and financial economy.

Theranos founder and chief executive officer Elizabeth Holmes and her family leave the federal court on Jan 3, 2022. PHOTO: REUTERS
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The conviction of Elizabeth Holmes for fraud perpetrated as founder and CEO of Theranos has triggered intense debate about what the episode means for the innovation economy.

Did Holmes, aggressively implementing Silicon Valley's "fake it until you make it" credo, simply run out of runway? Is the venture capitalist and Theranos investor Tim Draper right to worry that her conviction will reduce the "willingness to bet on" the type of entrepreneurs who "made Silicon Valley the innovation engine of the world"?

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