Personal notes from disgraced ex-CEO Elizabeth Holmes, taken during the blood-testing company’s sudden rise and fall, reveal how she idolized Apple co-founder Steve Jobs, and navigated the fall of Theranos.
In an entry dated April 2, 2015, Holmes wrote of himself, ‘Being Steve Jobs’, as his start-up garnered positive media attention.
It was part of more than a dozen pages of stream-of-consciousness, such as contemporary notes which he himself had typed, and which were obtained by him. CNBC.
That particular note related to Holmes’ conversation with David Bois, who served as Theranos’ attorney, and possibly a reference to a biography published last month: Becoming Steve Jobs: The Evolution of a Reckless Upstart into a Visionary Leader, by Brent Schlender.
In contemporary notes written by former Theranos CEO Elizabeth Holmes, she compared herself to Steve Jobs, copied his signature looks in the media, and even, according to one employee, in his office. The late Apple Co-op. A photograph of the founder was also kept.
Holmes had put up a framed photo of Jobs in his office, a former employee told the outlet, and she would mimic his signature black turtleneck-clad look in media appearances.
Holmes would formally receive the sought-after comparison in October of that year, when an Inc. magazine cover story featuring her began, “You have to look really hard to not see Steve Jobs in Elizabeth Holmes.” ‘
Soon, however, word began to surface that Holmes had overseen the capability and accuracy of Theranos’ Edison blood testing device, and that same month for The Wall Street Journal John Carrero published a series of reports on the errors produced by the machines. Of. NS.
Meanwhile, Holmes was writing to himself about ways to evade scrutiny, and refuted what the Journal had published.
‘Weak allegation – supports everything – happened – if – true – raise doubts – wants – the board sees it – gets nothing from it – is seen in it – has not seen it independently,’ he Written in a two week long note. After the first report.
She also found herself troubling herself mentally.
‘Have not addressed – does not shake my confidence – my business decision – no reason – this announcement – a month from now – business decision is the right one at the time. Certainly never,’ she continued. ‘make a statement. Faith – Elizabeth, co.
‘Point-by-point rebuttal statement,’ she wrote in notes earlier that day. ‘Fearless transparent to hide nothing’
Other references in his notes include one about former Secretary of State George Schultz (pictured with Holmes behind him in 2015), who sat on Theranos’ board of directors, and possibly to hide doubts about the company’s technology. strategies were indicated.
She later continued: ‘The Board’s statement – an independent look at the allegations by the Board – making a statement – no independent opinion. Goofy Board – Enter – Without Judgment – Strategic Mistake – WSJ – Raid – Fight – Number Charge – Made’
Other notes include Holmes strategizing about potentially hiding doubts about the company.
‘All day advice – EAH call – talk to George of Cliffe…’ she wrote on April 29, 2015, in possible reference to former Secretary of State George Schultz, who was on the board of directors.
His grandson Tyler, who was hired by Theranos, reportedly warned his grandfather about the company’s troubles, and is expected to testify at trial. George Shultz died in February this year.
CNBC reported that the notes contain only one reference to former Theranos COO Sunny Balwani.
He wrote, ‘Balwani – Edison stopped the era – away from others’. The two were dating at the time, and were to be tried on the same fraud and conspiracy charges in January.
Holmes’ defense indicated that it would claim that it was Holmes’ fatal mistake in hiring Balwani, blaming him for the company’s failure. The sealed filing also indicates that her lawyers plan to argue that he emotionally abused and molested her. Balwani has denied the allegations.
There is only one reference in Holmes’ notes to Theranos’ former COO Sunny Balwani (pictured) and her defense indicated that it would allege that he emotionally molested her while they were dating. Later he is being tried on the same fraud and conspiracy charges.
‘Elizabeth saw herself as the brand and driving force of the company. She was not the one whom Sunny or anyone was molesting. This posture continued even after Sunny left the company in 2016,’ another former Theranos employee told CNBC.
In addition to the Wall Street Journal, other notes depict Holmes navigating the media landscape.
‘Some platforms – so great – regular people … (Kramer) – sorkin – madman – tough’, he said in reference to an October 17, 2015 interview with CBNC’s Jim Cramer and Andrew Ross Sorkin.
“Very productive – interview with CBS This Morning producer, Friday,” she wrote in another note.
In another she wrote: ‘The really smart people didn’t pick Maddow,’ a possible reference to the disgraced financier Bernie Madoff, who was convicted in 2009 of running the biggest Ponzi scheme in history.
But in his more optimistic notes, Holmes outlined his vision for Theranos.
Start – Vision – Change the world. access to healthcare. cutting costs. above efficiency. Least pain…’
But, he said, ‘fudge it – if don’t understand – want to clarify – wait – find – reserve – can get’