The true and scandalous Theranos’ story and its founder Elizabeth Holmes, who was at one time the most self-made billionaire of the world in podcasts, books, and documentaries. However, the Hulu series The Dropout it’s finally being made into a miniseries featuring Amanda Seyfried playing the disgraced Silicon Valley icon, Is The Dropout Based on a True Story?
Of course, it’s the real reality, is the real-life story of Theranos that promised customers and investors the world’s most advanced technology to perform every blood test using just one drop of blood (spoiler that it didn’t) and is already full of drama, however, as is the norm when a true story is adapted for T.V. it’s likely to have some tweaks made for purposes of creative freedom.
If you’re left with a few questions about what transpired, take a look as we take a look at some of the show’s most exciting moments. Here’s how the Dropout is an authentic account, with answers to all your questions regarding what transpired.
Is The Dropout Based on a True Story
It is based on the first 3 episodes of the Hulu miniseries; it seems that The Dropout is closer to a true story of what happened. Many people know that there’s an actual Elizabeth Holmes who started a company known as Theranos founded on faulty technology that eventually ended up in the dirt.
The Dropout is based specifically on a podcast by the same title about Holmes Theranos’ scandal, which was released in six episodes at the beginning of 2019. Since the podcast proved to be extremely popular and made through ABC News, it was then adapted into the form of a twenty/20 two-hour show.
Journalist as well as author John Carreyrou, who investigated Theranos’ false claims in The Wall Street Journal, is one of the real-life characters that is depicted on the screen in The Dropout, the book that he wrote about the scandal — 2018’s Bad Blood: Secrets and Lies in a Silicon Valley Startup. The book is technically not the foundation of the miniseries. But, it’s likely to be the basic material for a forthcoming Holmes/Theranos film starring Jennifer Lawrence.
What was the method by which Theranos made everyone believe they were the truth?
Theranos manages to get a deal to roll out their tech in Walgreens stores in a brand innovative “Wellness Centers” initiative in the film. As it is depicted in the film, the story is the result of a highly elaborate smuggling job. With some clever strategies, Holmes and her team can evade an independent expert Walgreens employed to assess the technology. They also create a sense of urgency by making Walgreens executives believe they’re close to completing agreements with CVS and Safeway. Ultimately, it’s Dr. Jay Rosan, a member of the Walgreens innovation team, persuades the other group members to join the collaboration, despite having never heard of the Theranos’ technology.
In reality, the situation with Walgreens was executed similarly to the one in the show. Walgreens hired an independent laboratory expert named Kevin Hunter ( Rich Sommer) to ensure that Theranos technology performed as it claimed it could. As in the show Theranos, he received the turn by Theranos and was able to have his serious concerns disregarded by Walgreens.
“Dr. J” ( Alan Ruck) was Therano’s most fervent advocate and was instrumental in the company’s success in securing an agreement with Walgreens. Theranos did make use of Walgreens’ rivalry with CVS to force them to agree to the collaboration. Little things like Sunny Balwani (Naveen Andrews) following Kevin to the bathroom as well as the secret sushi meal along with the awkward Karaoke, are inspired by real-life events (although in actual life, Walgreens changed the lyrics to John Lennon‘s “Imagine,” rather than “What I like about You” from The Romantics).
The most significant difference between the events that unfolded in the show and the events in the real world is Therano’s relationship with Safeway’s supermarket chain. In the Dropout show, The Dropout, Holmes initially turns against Walgreens and Safeway. It makes them believe they’re going after CVS and causing Walgreens to be enticed to pursue Theranos. In reality, however, Theranos partnered with Walgreens and Safeway. Safeway revamped hundreds of its stores with wellness centers intended to be equipped with Theranos devices. The partnership, however, wasn’t officially announced and ended in the year 2015.
What happened when Elizabeth Holmes met Ramesh Balwani?
The Dropoutshows Holmes is discovering a similar friend in the more mature Ramesh “Sunny” Balwani after they met in an experience in China. The two begin to form a relationship, and later, the two begin a relationship even when Balwani has reached his 30s and Holmes is still just an adolescent.
This is the truth, though the story is streamlined for television. The show depicts Holmes encountering Balwani during her first and sole summer spent in China; however, she had three summers in high school with the Mandarin program. She only met Balwani at the end of the third, just before she left to go to college. Even though it was Holmes her third year participating with the program, Carreyrou notes in Bad Blood that she had a particularly difficult time that summer making friends and getting victimized, which is why Balwani was the one to come to her aid.
The show also doesn’t mention that Balwani and Holmes first began their relationship on the streets of China around 2002. Holmes was married to Keiko Fujimoto, a Japanese artist known as Keiko Fujimoto. They divorced between 2002 and 2004, and Holmes was able to move into Balwani in 2005. So it’s unclear if Balwani was still married when Holmes’ relationship with Holmes became a romance.
Is Elizabeth Holmes an engineer? Was Elizabeth Holmes invent anything?
Did Holmes, an extraordinary scientist who soared over the sun, or was she a conniving fraudster that tricked the public into thinking that she’s more than? The Dropoutpaints Holmes is an ambitious genius who had a unique understanding of fluid dynamics and utilized her skills to accelerate her to the top of Stanford’s chemical engineering degree. It doesn’t depict her developing or designing the machinery of Theranos after conceiving the initial design on paper.
Are all of those statements accurate? It is dependent on who you are asking. Holmes was able to persuade renowned Stanford scientists Channing Robertson ( Bill Irwin) to allow her to be a part of his lab at the beginning of her freshman year, and Robertson would later become one of her top supporters, calling her a once-in-a-generation genius at the same level as Einstein or Mozart According to the book Bad Blood.
She’s not particularly intelligent. She’s more con than she is substance. She was more interested in how to con people?’ and not How do you win with substance? ‘”
The truth may lie between. As evident by the demise of Theranos, Holmes wasn’t the next Leonardo Da Vinci, but given what she could do before and what she accomplished before that, she’s not the fool Fuisz portrays her to be. The only thing we can be sure of is that we will not know what’s going on in The mind of Elizabeth Holmes.
Do you think Elizabeth Holmes drop out of Stanford?
It’s a well-known fact that Holmes quit Stanford to start her own business; however, the very initial episode “The Dropout” suggests that this wasn’t the only reason she left the university. Holmes is excitedly invited to an event on campus as a freshman but then lies in bed, slumbering, as girls yell about her room, claiming they claim she’s been sexually assaulted. In the next few minutes, Holmes drops out.
An alleged sexual assault that occurred on Stanford’s campus was discovered and reported by the Santa Clara County Sheriff’s office in the fall of 2003. She was later kicked out of Stanford in 2004 to join Theranos. In her court testimony in 2021 — the first time she spoke about the incident in public and the first time anyone interested in the Theranos story heard about it, she implied that the incident affected her decision to get out.
She said, “I was questioning how I would be able to deal with that incident and what I wanted for my career. It was then that I decided that I wanted to build a better life by building this business.”
Who was it that helped Elizabeth Holmes get funding for Theranos?
After deciding to get from Stanford during “The Dropout,” Holmes sits down with her parents and offers them an idea for a business: Take the money they’d put aside to fund her college education and put it into her business instead. Surprisingly, they agree, and the funds are enough to allow Holmes to begin renting an inexpensive office space and pursue her goals. However, the only place she can afford is the city’s most dangerous zone, and she barely avoids death when a bullet is shot through the driver’s side glass of her vehicle, completely covering her with glass.
It’s all true to the car window that was shot out. However, Holmes managed to get her parents’ support to make use of the tuition money she received to create her own business (then named Real-Time Cures before later changing the name to Theranos). At the same time, the money was adequate to bring her venture going, but the only thing she could come up with was a small office in Burlingame where she could host numerous shootings. Fortunately for Holmes, the situation didn’t last for too long for the most part.
Did Theranos ever run out of cash?
The Dropoutportrays the beginning of Theranos in a constant search for money that saw Holmes continually pitching one set of investors after the other while her staff members struggled to find a way that would make the technology sustainable. In The Dropout‘s initial two episodes, Theranos could be close to falling apart at any moment.
There’s a chance of truth in this, given that the technology Holmes tried to develop was certainly not inexpensive. In addition to the $30,000 of tuition money from her parents, Holmes got an additional $6 million from her family and friends during the initial round of capital before she could stop being shot off by Silicon Valley investors. Don Lucas (Michael Ironside), depicted in the show as the one who saved Theranos from near bankruptcy, was on the scene during the second round of Theranos’ funding and was followed by Larry Ellison (Hart Bochner).
Do you think Elizabeth Holmes change her voice?
One of the qualities Holmes is most remembered for? Her deep voice, which we hear her slowly developing throughout the series. In one scene in the show, when she tests her new baritone voice through the phone, Lucas even asks her, “Do you have an illness?” But Holmes seems determined to improve her low voice. as she becomes more proficient, the better her voice is and the more pronounced her voice develops.
In reality, it’s difficult to determine exactly the moment that Holmes changed her voice or the reasons for her decision to change the volume. In the book Bad Blood, Carreyrou mentions that one Theranos staffer, Greg Baney told him that he observed Holmes take off the mask and speak with a more natural voice, which led him to believe that she may have used her voice as an opportunity to be perceived more seriously by the male-dominated Silicon Valley.
The impression was repeated by former employees and people who had known her before Theranos and who have all said that she did not always speak with such a deep tone. “When she first came to me, she did not have a low voice,” Phyllis Gardner( played in the Hulu series played by Laurie Metcalf) spoke to ABC Radio on The Dropout podcast. The miniseries, however, had to make up exactly when and why her voice changed the pitch; it’s not difficult to say that it did.
Do you think Elizabeth Holmes dress like Steve Jobs to look like him?
In the present, anyone who imagines Holmes is likely to envision her in a black turtleneck that is as used in the days of Apple CEO Steve Jobs. On “The Dropout” The Dropout, we learn the beginning of the story of this dress, as the newly-hired fashion designer Ana Arriola (Nicky Endres)–freshly poached from Apple–suggests to her be able to “dress more like the CEO.” Holmes takes this advice in a specific manner, mimicking the look of the CEO she would like to be like.
This is what appears to be the case. When she spoke to Elle, Arriola recalled the first time she met Holmes, “She had this kind of snarky, frumpy Christmas sweater outfit… This is as… The stuff you see with poor quality pixel art.” Arriola said that she was able to advise Holmes on the best way to dress for her role: “I was like, “I’m delighted to offer you some fashion advice because I love fashion. Do this, check these. ‘”
Of course, Holmes wasn’t interested in fashion. “[Holmeswas] enthralled by the iconic style and design of Steve Jobs ‘ the black turtleneck,” Arriola said. Thus, while Holmes followed Arriola’s advice for improving her appearance, the spot she ended up was likely not the style that she thought the ex-A Apple designer was thinking of.
Did Theranos prototype work?
After the second season in the show, an essential scene sees Holmes with her group working an all-nighter in Switzerland before presenting to the pharmaceutical company Novartis and trying to determine why their prototype isn’t functioning, even though it worked previously in their California laboratory. If they cannot solve the issue, Holmes calls for fake results from an earlier test as the demonstration to convince investors to believe that the machine is working.
It’s the story that begins Carreyrou’s novel Bad Blood. In the prologue, Carreyrou describes an incident in which a Theranos employee confronts Shaunak Roy (named “Rakesh Madhava” in the show) about why the team that returned from Switzerland is so angry. In addition, Roy admits that they sometimes faked the results of investor presentations if the machine wouldn’t function.
Although Roy did not specify if that was the situation for Switzerland, Carreyrou wrote that the device was malfunctioning upon arrival in Switzerland and that the staff with Holmes were indeed awake all night trying to resolve the issue. If they couldn’t solve the issue, a team from California provided fake results to demonstrate for Novartis exactly as had occurred in the series.
Who whistled to Theranos?
Arriola wasn’t even the first ex-Apple employee recruited to join Theranos by Holmes; Jobs’ former right-hand man, Avie Tevanian (Amir Arison), was also a member of the Theranos Board of Directors during the beginning of. However, similar to Arriola, who ended up leaving just a few weeks following her signing up with Theranos (with the other team members joining shortly after), Tevanian quickly became unhappy.
The Dropout shows Tevanian is engaging Holmes with his questions, but she proceeds to ignore his questions. Then, Tevanian goes to Lucas and expresses his concern that Holmes isn’t aware of what she’s doing. There’s no basis for her assertions, armed with evidence to support his claims, only to wait for Lucas to react by requesting his resignation.
As surprising as it sounds it is, this is the situation. Tevanian brought Lucas several hundred pages of documents that led to the inevitable result of Theranos being in deep trouble. However, instead of pondering the information Tevanian had to say, Lucas immediately asked him to quit.
Based on what we know today, it’s hard to imagine the board’s chairman not ignoring such a clear warning, particularly when considering the amount of due diligence Tevanian could conduct before approaching Lucas. However, Holmes convinced him that she was the best judge of her own and that their word was trustworthy as gold for Lucas.
Does Elizabeth Holmes speak Chinese?
The first episode on the show, The Dropoutintroduces Holmes to the world as an enthusiastic high school student studying Chinese to prepare for her summer study abroad trip and impresses her friends with her mastery of Chinese. This is the case, even though reports differ about how excited Holmes had been about her course.
In his autobiography “Bad Blood, Carreyrou writes, “Midway through high school, Elizabeth talked her way into Stanford’s summer Mandarin program. The program was supposed to be available to students in college, but she impressed the program director enough with her proficiency that he accepted an offer.”
But, as Fuisz says, she believes that studying Mandarin or studying in China was not Holmes her idea; it was the parents’. “Elizabeth called the house after returning from China in tears,” Fuisz told Forbes. “Noel would answer the phone calls of Elizabeth and request my ex-wife to come to pick her up. Elizabeth stated, ‘The hotel and the people are filthy, the hotel is filthy, and I’d like to go home. But Noel would advise her to put down the complaints and get on with the business. ‘”
Do you think Elizabeth Holmes really fires and then hires Ian Gibbons?
In the film “The Dropout,” the Lab director Ian Gibbons ( Stephen Fry) complains about Theranos’ methods and Holmes Robertson’s management, who is Elizabeth’s ex- Stanford professor and the one who advised Ian for the job. Robertson promptly relays his concerns back to Holmes, who immediately fires Gibbons. After Gibbons’s colleagues all threaten to leave, Holmes hires him back as a desk worker at a lower level but not as the lab’s director.
Although some of the facts may have been changed–for example, the exact date the people who were threatened to quit, this story is generally true to what happened in life. Ian’s new job in the company was a demotion from being the head of the general chemical department to a technical consultant. However, Ian did continue to work closely with the person who was hired to replace him–an individual Ian himself had just two months earlier.
Do you think David Boies gets paid in shares of Theranos?
In Holmes’s initial meeting with attorney David Boies( Kurtwood Smith) in The Dropout in the book, she states that David Boies accepted Theranos stock as Theranos stock instead of compensation for representing Theranos in their suit against Fuisz. It’s true, according to an article in the year 2016 publication published in the Wall Street Journal by Carreyrou, the company Boies Schiller was granted over 300,000 shares of Theranos stock worth $4.5 million for its involvement in Fuisz. Fuisz Patent Case.
Boies was also a member of Theranos’ board of directors in 2015. Theranos directorship in 2015 and was a member of the board in 2015, Holmes was likely correct in her belief that Boies actions suggested that they were lying about her business.
What was the fate of Ian Gibbons?
The saddest plotline The most tragic storyline of the film revolves around Gibbons, the lab’s former director, who eventually leads to suicide after being summoned to appear in Theranos Patent lawsuit against Fuisz. Fuisz believed that because Gibbons’s name was listed on Theranos patents, along with Holmes in the ‘, they could prove to the court that the patent Theranos accused Fuisz of stealing wasn’t identical to the patent of Fuisz in any way.
However, Gibbons is frightened by the thought of giving evidence if he’ll be forced to either tell what he knows. This would likely invalidate Theranos’ patents and force a lawsuit from Theranos against his head or lie and be guilty of perjury. After that, a lawyer attempts to get his client out of deposition, saying that he will be excused if he’s got written permission from the doctor who says the testifying is not possible due to medical or anxiety concerns, Gibbons believes that if the tactic is used that he’ll never locate a different company that would consider hiring him. Incapable of finding a different option, Gibbons overdoses on Tylenol in combination with alcohol and passes away.
It’s tragically true. Carreyrou provides more details regarding Gibbons passing in the book Bad Blood, in which he reveals the fact that Holmes did not even call the wife of his death, Rochelle Gibbons, to express condolences. Instead, Rochelle got an email sent by Theranos’s lawyer, informing her that she must take back all Theranos equipment or any confidential information Gibbons might have kept within his reach, including his laptop computer and mobile phone. Even though Holmes made a note in a brief email to a tiny group of members of staff that there would be a funeral event that would later be held in Gibbons honor, there was no event of this kind ever happened.
What was the fate of Brendan Morris?
When the engineer Brendan Morris ( Bashir Salahuddin) is informed of Gibbons’s death and is shocked, he realizes that he cannot deal with a clear conscience at Theranos. Following his previous call to leave if the company could not bring Gibbons to replace him, Morris ultimately leaves after sending an email to the entire company, paying respects to Gibbons and a list of his numerous patents. When he gets out of the exit, Morris meets Tyler Shultz, who is getting ready to start his new day. When Shultz inquires about what’s happening, Morris only whispers, “Get out.”
The actual version of Morris is likely Tony Nugent, who was tapped to lead another engineering unit in the competition alongside Edmond Ku‘s team like the way Brendan joined Theranos. While Nugent was not close to Gibbons, he was unhappy that his death would go almost unnoticed by Theranos and decided to write an email with Gibbons’s photo and the set of patents. He gave it to a couple of dozen coworkers working with Gibbons and made sure that they copied Holmes.
The email wasn’t as large as the blast we see Morris send on The show. However, it could nevertheless have caught her interest. Nugent was dismissed by Balwani in August 2013, just three months following Gibbons passing away. When you consider that Shultz did not join the company until the end of September that year, it’s highly unlikely they ever met in the workplace.
Does Elizabeth Holmes’ family reside in the house of Richard Fuses?
The Dropout the film, “The Dropout,” When Holmes’ father is fired from the job he was working at Enron, the family is left with nothing but money, and they have nowhere to go. The wealthy neighbor, Fuisz–who would later become very committed to uncovering Theranos’s frauds–allows Holmes and the Holmes family to remain in his house because no one else uses it.
Real; Fuisz told Forbes in 2019, “When [Elizabeth’s father, Chris Holmes] returned in Washington following the Enron failed, he was devastated and was crying in front of us. He had no money. I lived in a new home a couple of blocks away, and I suggested that I let him stay in our first home located in McLean, Virginia, rent-free.”
Was Rakesh Madhava, along with Elizabeth Holmes, at Stanford?
In the film, The Dropout, Holmes can get her into Robertson’s graduate lab when she spots a mistake in one of his laboratory procedures and bribing T.A. Rakesh Madhava ( Utkarsh Ambudkar) to allow her to look at his notes. He does this by offering him a Cubs hat. Rakesh then becomes one of Therano’s initial employees and plays a key role in helping Holmes show the first version of the blood-testing technologies.
It’s not only true but also true. It’s true that a student at Stanford, Holmes was a part of Robertson’s research lab at Stanford and later became Theranos its initial employee (and is recognized as co-founding Theranos with her). Holmes was credited with helping to develop and showcase the mini-lab to potential investors. It’s also true that he formed an intimate relationship with his Theranos colleague Ku and ended up leaving Theranos shortly after Ku. All of that is depicted in the series. What’s nontrue is the fact that his name was Rakesh Madhava. It was the name of Shaunak Roy.
We’re not certain why the name of Roy was changed to match the show, and the last time there was a Theranos employee with the name Rakesh Madhava. Many former employees of Theranos no longer include Theranos as a company on their official resumes due to obvious reasons, which makes it difficult to confirm the authenticity of their employment. What is certain is that Ambudkar’s personality is an inspiration for Roy, who was offered more than he expected when he was tasked with Holmes as an assistant in the lab at Stanford.
Do you think Elizabeth Holmes charmed Don Lucas to invest without an actual prototype?
A venture capitalist Lucas is featured in the film, the key to Theranos’ growth, having invested in the company on Holmes’s charm without ever checking their technology. He’s also shown as the one who arranged the first conversation with Holmes and Ellison that opened up several doors for Theranos.
Holmes indeed enthralled the true Lucas. She was a devoted mother to her as if she were a daughter and was even chair of Theranos’s board of directors after deciding to invest in Theranos. Ellison was a protégé of his, who had made fortunes through his business Oracle. Following his investment in Theranos, Lucas hired a pharmaceutical executive named Diane Parks to serve as a chief commercial officer. She relied on her expertise to ensure that the Theranos were in good stead.
After a short time, however, Parks realized that the prototype of the Edison Theranos’ exclusive blood testing method didn’t perform as expected. In The Bad Blood: The Final Chapter podcast, Parks said, “I could not find out how the device worked or if it worked since I had never seen it in the full demonstration. Then, I began working more closely with the scientists working on the tool and realized there was no way to make it work. far from the creation of a tool that would function.”
Based on that timeframe, we can confirm that Lucas did indeed choose to invest without having any working prototype. If the company didn’t have one when Parks joined the company, it was likely that they didn’t have one before that at the time that Lucas invested his first money.
Do you think Larry Ellison helps Elizabeth Holmes by telling her to be a fraud to investors?
In Holmes’ first meeting with Ellison on the yacht he was on within the film The Dropout, He advises her that she must “hustle” to be able to secure the large meeting with the pharmaceutical firms that will fill Theranos’ pockets. He says how the “software was in chaos” when he got Oracle’s first contract; however, “I did not say anything.” This seems to instill the notion in Holmes her mind that she could simply tell investors that she has a working technology even if the technology isn’t yet in existence.
Although we’re not able to say that we know for certain whether this specific exchange ever occurred in the past between Holmes and Ellison however, it’s not to be too unlikely that something like it might have happened. in Bad Blood, Carreyrou writes that “In the beginning, Oracle’s founders Ellison had famously exaggerated the capabilities of his database software and even released versions filled full of bugs.” In addition, as the co-founder and founder of Oracle, Bruce Scott reported that Ellison once told him, “Bruce, you cannot be successful if we are lying to our customers.” Both of these seem like the things Holmes later did with Theranos.
What about Ellison inspire her to pitch investors an illusion of transparency instead of a functional device, or did she develop this strategy independently? We’re not likely to receive a definitive answer to the matter, but considering that several Theranos employees have reported that Holmes often started phrases using “Larry declares,” we can’t rule the possibility out.
Was Elizabeth Holmes performing a clinical study on patients with terminal cancer using a design that did not perform? Did the entire team at Ana’s disposal abandon the project when they learned?
When Arriola starts episode 3 in The Dropoutexcited to collaborate with Holmes and assist her in achieving her dream, the excitement isn’t long-lasting. A few months later, Arriola is accepted into Theranos and is shocked to learn that Holmes has approved a study of Theranos technology with people suffering from terminal cancer. However, despite Holmes insisting that this is the way trials are supposed to function, Arriola can’t stomach the concept of using flawed and unreliable prototypes on actual patients. After a heated debate with her boss, Arriola quits on the moment, taking her entire team along with her.
It’s very similar to what happened in the real world. Holmes was able to move forward with a Tennessee research study on cancer sufferers despite the microfluidic device within the device not functioning well. Arriola was irritated when she learned of this. Still, instead of doing anything to confront Holmes on the job, she arranged to meet privately with Holmes and asked her to put the Tennessee study off to make sure they could perfect the technology.
Holmes did not agree and advised Arriola to consider whether she would like to stay working for the company. After some reflection, Arriola slipped her resignation letter on Holmes the door and quit, just four months after her debut day. Soon after, the rest of her team joined her followed suit.
In his resignation letter, one of the teammates, Justin Maxwell, wrote, “Lying is a sexy behavior that flows through conversations as if it’s our currency. I’m sure that you’ve already figured it out. For reasons that I don’t understand, I cannot understand why you let the problem persist.”
Although it was not the dramatic change portrayed in The Dropout, The Tennessee study was certainly the last straw for Arriola and his design team.
Is Edmond Ku fired on a day when he was not in his car?
A truly heartbreaking scene from the beginning of The Dropoutcomes in the third episode. In it, the soft-spoken engineer Edmond Ku ( James Hiroyuki Liao) is dismissed by Holmes. Shortly after, Ku refuses to accept Holmes’ decision to proceed on the study that she has planned in Tennessee; Holmes hires a rival engineering team to run the trial for him, only to have him removed from the building by security. However, Ku isn’t driving at the time, and he’s left in the parking lot in a state of panic, clutching a suitcase of his items.
It’s hard to believe that leaving Ku left in the parking area must be a ploy to create drama. However, that’s the way it was done. Ku was indeed dismissed due to his displeasure over the Tennessee study. He was removed from the premises and escorted out by an H.R. supervisor and lawyer that led him out, not security personnel.
In fact that he ended up getting stuck in the parking area, as he had not driven his vehicle that day. After approximately half an hour, the man got a ride back from his dear friend Roy who resigned a few weeks later, much like how his alter-ego leaves the show.
Have you heard that Don Lucas try to remove Elizabeth Holmes as CEO of Theranos?
Holmes’s precarious empire nearly comes crashing down in episode 3 of The Dropout, when Lucas calls a board meeting to remove her as CEO after being informed that none of Theranos’ contracts have been completed, despite Holmes’ reassurances. Although he was not willing to listen to the concerns of Tevanian, when Tevanian raised similar concerns, he listened this time. He is aware that Holmes continues to deceive, and deceit is likely to lead the company down.
However, before the board can vote on her demotion, Holmes manages to convince herself back into the job by suggesting they change their focus away from targeting pharmaceutical companies and instead focus on retail. She admits that she needs “adult supervision”–the exact suggestion Tevanian advised Lucas earlier. However, she suggests that the person who will supervise her would be the same Balwani who promises to invest 20 million of his funds to help the company get back on track, so long as he can become Chief Operating Officer, while Holmes remains the CEO. Amazingly, the board is in agreement.
Like many other things with regards to Theranos, this one appears absurd. After all, Lucas had in his possession several contracts that Elizabeth was lying about, and financial statements of the company’s financials were in a state of chaos. Still, it is at least partially real. Lucas called an executive meeting to eliminate Holmes as CEO, and she did alter their minds, but it took her 2 hours instead of several minutes in the manner depicted on the show. Balwani did, however, invest the majority of his funds in Theranos, but the amount of money he invested in investing was one million dollars and not $20 million.
It’s not clear if Balwani’s appointment or even his investment directly resulted from that board meeting. Balwani appointed the COO back in 2009. This was just six months after the company had lent him money. However, none of these events has ever been linked to Holmes staying in her position. It’s possible that these events were connected to the same board meeting; it’s impossible to be certain.