From the beginning, Elizabeth knew how to tell a good story. She launched her blood testing company with a story of a powerful vision to change the industry. She presented herself as Steve Jobs. She drew a picture of someone in control.
The last word before the case went to the jury was John Bostic's rebuttal argument. Bostic said it wasn't reasonable to think the CEO of a company didn't know what investors thought. She was aware of the problems with the tests. The technology wasn't working as intended, and Theranos might not be able to change the world. She tried everything she could to keep the story together.
People who set ambitious goals are admired.
Bostic said they admire people who set ambitious goals. The CEO of the company was so desperate for success that she was willing to do anything to keep it from failing.
Kevin Downey, her defense attorney, told a story in the closing arguments of her trial. The story was about a CEO who trusted what experts told her, who didn't know about problems at her company, and who couldn't be faulted if people misinterpreted the things she told them. The origin story was cut to convince the jury that she wasn't guilty.
To find her guilty of wire fraud and conspiracy to commit wire fraud, the jury has to believe that she intended to give people misleading information. Downey stressed through his closing arguments that intent mattered.
It takes getting inside the head of the person to figure out intent. Downey said she was referring to what the company was going to be able to do in the future when she said that the Theranos devices could run hundreds of accurate tests.
The company was doing a lot of work with the military, but she didn't mean that the devices were being used in the military. The company's devices were used in Afghanistan and on medevacs, according to investors.
Downey said that investors misinterpreted things if they got the wrong idea. He said that even if they misinterpreted things, that didn't matter. The investors decided to give Theranos money because of those types of statements. Downey said that the things she said weren't critical to the decision making process. The investors cared that Theranos had a partnership with Walgreens. Multiple investors said they trusted the storiesHolmes told them.
Downey said that there were no problems with the Theranos technology. Adam Rosendorff was the former Theranos lab director. The tests were accurate. She saw positive reviews from satisfied customers and the company apologized if there was an error. Downey said that she had no reason to be concerned about any issues. In emails revealed throughout the trial, Theranos scientists repeatedly flagged serious issues to Holmes.
Downey said thatHolmes didn't behave like someone who had something to hide. A former secretary of state, a former senator, and a four-star general are on the board. Drug companies and academic institutions were allowed to scrutinize her company's tech. She gave information to the FDA. When she heard about the problems with her labs, she doubled down on her work to figure out what went wrong.
Criminals cash out, criminals cover up, and rats flee a sinking ship at the first sign of trouble.
At the first sign of trouble, crooks cash out, criminals cover up, and rats flee a sinking ship, according to Downey. She believed that her company would change the world. She brought in experts to scrutinize the testing program instead of running. Are those actions of someone who was involved in a conspiracy to cheat people?
There are different versions of the same person everywhere, from the one she offered in media interviews to the one that will be fictionalized in the upcoming series. There have been two more presented by prosecutors and defense attorneys over the past three months. The jurors will receive those versions. It is up to them to decide if the reality is criminal.
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