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The Dropout

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Money. Romance. Tragedy. Deception. The story of Elizabeth Holmes and Theranos is an unbelievable tale of ambition and fame gone terribly wrong. How did the world’s youngest self-made female billionaire lose it all in the blink of an eye? How did the woman once heralded as “the next Steve Jobs” find herself facing criminal charges — to which she pleaded not guilty — and up to decades in prison? How did her technology, meant to revolutionize health care, potentially put millions of patients at risk? And how did so many smart people get it so wrong along the way? ABC News chief business, technology and economics correspondent Rebecca Jarvis, along with producers Taylor Dunn and Victoria Thompson, take listeners on a journey that includes a multi-year investigation. You'll hear exclusive interviews with former employees, investors, and patients, and for the first-time, the never-before-aired deposition testimony of Elizabeth Holmes, and those at the center of this story.


Starting August 31, 2021, in a series of new episodes, "The Dropout: Elizabeth Holmes on Trial" will take you inside the courtroom, breaking down the evidence and keeping score for both sides until 12 jurors decide the fate of the Theranos founder and new mother. Three years after she was first charged, we find out how this saga finally ends.

22 Episodes
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In a monumental week in the trial of United States v. Elizabeth A. Holmes, the prosecution introduced its final week of witnesses before resting its case. Among them, a patient who received troubling results from a Theranos HIV test and a journalist whose damaging interviews with Elizabeth were played for the first time in court. And in a literal final-hour shocker, the defense called Elizabeth Holmes to the stand. Did the government bring its case home? Did Elizabeth begin to sway the jury?
The Beginning of the End

The Beginning of the End

2021-11-1643:4813

In this episode, we hear from two Theranos lab directors -- one who never met Elizabeth or stepped foot into the company’s lab, another who ultimately voided more than 50,000 Theranos tests after a damning government inspection. And we hear from an irate investor who says Elizabeth Holmes cut off communication with him when he asked for basic information about the company. Plus, 10 weeks into the trial, with only 24 witnesses out of a possible 181 on the government’s initial list having taken the stand, we hear a surprising update from prosecutor Jeffrey Schenk: This week might be the prosecution’s last before it rests its case.
Patterns

Patterns

2021-11-0941:3815

Nine weeks into the criminal trial of Elizabeth Holmes, we’ve heard from dozens of witnesses -- Elizabeth’s colleagues, board members, investors, clients, scientists, accountants and corporate executives. It's impossible not to feel the repetition. We learn that a fake Pfizer memo wasn’t the only document Theranos falsified, and we’re introduced to a man with deep connections to many of the central players in Elizabeth’s orbit. Patterns in the prosecution’s questioning are beginning to become clear, and experts show us it’s all part of a greater plan.
The Investors

The Investors

2021-11-0243:2912

This week, we hear from high-profile companies and individuals who invested millions of dollars into Theranos, the prosecution reiterating that these investments were made on the basis of what they say was a pattern of misinformation, exaggeration and outright lies coming from Elizabeth Holmes herself. And we hear from a Pfizer scientist who speaks to the supposedly doctored Pfizer document that Theranos showed investors to help lure them in.
The Therabros

The Therabros

2021-10-2637:3613

This week, we got a peek into how things at Theranos could at times be a full-on family affair. Elizabeth recruited her brother Christian to the company. He, in turn, recruited five of his Delta Tau Delta fraternity brothers to join him. The group would come to be known as “The Therabros.” We hear from one Therabro who would rise to the rank of Elizabeth’s lead of strategic operations. He interacted with VIP investors, board members, military officials and business partners, and revealed to the court what the government says was a disturbing pattern of misinformation.
The Clients

The Clients

2021-10-1941:269

Theranos’ biggest clients, Walgreens and Safeway, are on the stand this week, testifying to what exactly they say they were told before signing multimillion-dollar deals with the blood testing startup. In email exchanges, text messages and board presentations, the prosecution paints a picture of deception while the defense claims the industry giants should’ve known better. Plus, we hear from Sunny Balwani’s dermatologist of 15 years, who happened to also become Theranos’ lab director.
Crime and Punishment

Crime and Punishment

2021-10-1231:0514

This week, two jurors ask to be excused, citing stress around punishment and the responsibilities in deciding the future of Elizabeth Holmes. A young woman, with unusual ties to this case, gives her perspective as a trial observer, and a veteran Silicon Valley investor puts the Theranos saga in larger context.
Sounding the Alarm

Sounding the Alarm

2021-10-0539:2513

This week, we hear some shocking insights from a former Theranos lab director who says he tried to stop the train before it ran off the tracks. From failing machines to a lack of proficiency testing, he tells of the pressure he felt to vouch for tests while maintaining his integrity as a lab director. And he describes how he says he tried to delay the Walgreens launch, pleading with a “nervous” Elizabeth, who went forward nonetheless. But does an aggressive and lengthy cross-examination undermine his claims?
This week, a high-profile witness from Elizabeth’s superstar board of directors surprises the courtroom by taking the stand: 4-star general and former U.S. Secretary of Defense James Mattis. He speaks of being dazzled by the potential of Theranos’ devices on the battlefield and the disillusionment he felt when the full story came to light. Plus, we meet a patient whose Theranos test results led to a terrifying ordeal.
Mystery Men

Mystery Men

2021-09-2136:4011

This week, we hear from Erika Cheung, one of the whistleblowers who originally set Elizabeth’s downfall in motion and who says she was subjected to disturbing intimidation tactics as a result. Legal experts analyze the success of each side’s opening arguments. And a mysterious man named “Hanson” causes quite the stir.
Setting the Stage

Setting the Stage

2021-09-1442:5523

Elizabeth, holding hands with her partner, Billy and her mother, Noel, breezes into the courthouse to hear opening statements in her financial fraud trial. The government and the defense set the stage, giving us a roadmap of how their sides of the case will unfold. The prosecution says this is a case about fraud, lying and cheating, while the defense paints a picture of an ambitious young woman trying to change the world. She made mistakes, they say, but didn’t break the law. And we hear from the case’s first witness: Theranos’ top ranking financial employee who has a lot to say about how Elizabeth may have misled investors.
The Jury

The Jury

2021-09-0729:059

This week, after 11th-hour bombshell allegations of abuse were revealed, we meet the seven men and five women who will ultimately be deciding Elizabeth Holmes’ fate. We take a peek inside the courtroom, and speak with some of the potential jurors who were dismissed. We’ll hear firsthand what Elizabeth’s demeanor is like in the courtroom, what the prosecution and defense appeared to be looking for in a jury, and details about who was actually chosen.
Bombshell

Bombshell

2021-08-3146:4820

Today, after four postponements, a global pandemic and a baby, Elizabeth’s long-awaited trial finally begins with jury selection. With millions of pages of discovery, a potential witness list of more than 200, and nearly 4,000 exhibits, Elizabeth’s team of heavyweights has their work cut out. And at the 11th hour, the biggest bombshell yet -- Elizabeth’s team has alleged that she was subjected to a decade of physical, sexual and psychological abuse. How will this play for a jury? Will Elizabeth take the stand, and what are the chances of a conviction?
It’s been over three years since Elizabeth Holmes was charged with multiple counts of fraud. Once the youngest female self-made billionaire, she was poised to change health care forever. Now she faces decades in prison if convicted. What has Elizabeth been up to while the government has been building its case against her? The answer includes a trip to Burning Man, a new relationship and a baby born just over a month before her trial.
Starting Aug. 31, in a series of new episodes, "The Dropout: Elizabeth Holmes on Trial" will take you inside the courtroom, breaking down the evidence and keeping score for both sides until 12 jurors decide the fate of the Theranos founder and new mother. Three years after she was first charged, we find out how this saga finally ends.
6. What Now?

6. What Now?

2019-02-2738:4424

As Elizabeth Holmes awaits a criminal trial, how is she spending her days? A former employee who had a chance encounter tells us some surprising new details about just that, while an old classmate emerges to share some insight into her past. Plus former U.S. Attorney for the Southern District of New York, Preet Bharara shares his analysis on Elizabeth's potential legal fate...and then there's Balto.
5. The Downfall

5. The Downfall

2019-02-2041:2417

Elizabeth Holmes, once the darling of Silicon Valley, is under a different kind of spotlight. Now under investigation by the Securities and Exchange Commission, she is forced to answer tough questions under oath. The claims that Elizabeth had been repeating over and over again to the public, investors, doctors and her board are under fire; the woman who once had all the answers, suddenly seems to have none. And for the first time, the lawyer for former Theranos COO, Sunny Balwani, speaks out, providing a glimpse into his defense.
4. The Whistleblower

4. The Whistleblower

2019-02-1344:0819

With Theranos technology now being used by real customers, many employees are at a breaking point. They are horrified by what they believe to be widespread deception and dangerous practices, but Theranos has implemented increasingly extreme measures to stop them from speaking out. As the threat of litigation lingers, one brave and unlikely whistleblower, with close ties to Elizabeth Holmes and the board of directors, emerges.
3. A Star is Born

3. A Star is Born

2019-02-0643:1628

Elizabeth becomes a celebrity as Theranos breaks out of stealth mode and onto the main stage. The media can't get enough, and neither can many investors as Theranos Wellness Centers start popping up at Walgreens. To take advantage of the moment, Elizabeth spends millions on advertising, recruiting the same agency as Apple and even an Oscar-winning director. But real patients are now getting Theranos tests, and for some the results are shocking.
2. The Enforcer

2. The Enforcer

2019-01-3040:0329

Elizabeth brings on an unexpected character as her right-hand man at Theranos and it turns out they are hiding a big secret. They strike a monumental deal with Walgreens that could potentially put millions of lives at risk while insiders say a culture of fear and intimidation at the company leads to incredible tragedy.
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Comments (200)

Staci BAMS

Anyone in healthcare, you know like actual workers not millionaire investors, know Holmes is full of shit. Convict her lying ass. The investors already lost their asses, sorry not sorry.

Nov 26th
Reply

Stephanie Womack

I feel like it should be somewhere in the law that it's illegal for sociopaths to be able to testify testify only because the general population (jurors) doesn't know how to receive and sift through what is truth or not coming from their mouth. If you haven't had to work with one you don't know how strikingly manipulative they can be pulling the wool over anyone's eyes, and Overwhelmingly they make themselves appear to be a victim.

Nov 23rd
Reply

Clay Brimhall

if you've seen the HBO documentary The Inventor or there have been other podcasts/articles, there is not much new to discuss with this series. I was hopeful for some new details.

Nov 19th
Reply

An-D

I don't know anything about what my uncles or grandparents did as a career, that should not be a factor in credentials. The key thing is that these men were pulled into her lies and somehow hypnotized by her looks.

Nov 11th
Reply

Sarella

👌💉

Oct 23rd
Reply

Michael Wagenveld

xssď is

Oct 5th
Reply

💋🎭🗝

thank you castbox . you have managed to butcher another show .

Oct 3rd
Reply

Rich H.

Damn. Rebecca. It’s Elizabeth HOLMES, not HOMES. It’s driving me mad.

Oct 3rd
Reply

harveyjohnny1967

This is a fascinating, maddening story and over all it is well told. But the amount of repetition from episode to episode is excessive. Time and time again you listen and say to yourself, hold on, haven't we already heard all of this? For example the Bombshell episode is just a re-playing of material we've already heard.

Sep 16th
Reply

Hannah Morgan

Excellent coverage

Sep 14th
Reply

Amanda Williams

I know when I served jury duty we only got $10 a day plus lunch was provided. But I'm really surprised that a Federal 13 week trial doesn't provide more compensation.

Sep 14th
Reply

Hannah Morgan

Really interesting how they have excluded people who haven't had the vaccination.

Sep 7th
Reply (2)

Hannah Morgan

Love the background information, fascinating.

Sep 3rd
Reply

Hannah Morgan

This is really good

Sep 2nd
Reply

🤨

I feel bad for the lady who invested 100K in Theranos, but at the same time, she said they didn't know much about the company or the technology when they invested. I mean, really?! The f**k were you thinking? You don't think her greed played a role in this too? I don't like how the media-govt apparatus always needs a scapegoat to pin all the blames. I resent con men more than most, but also, everyone involved in this, especially the media, is also responsible.

Jun 17th
Reply (1)

TH

her "voice" drives me crazy! you can tell how fake it is

Dec 14th
Reply

Kārlis Prauliņš

A fascinating listen, thank you.

Dec 10th
Reply

christian

wow a rich white boy actually did some good!! 👏! good on ya Tyler! glad your parents could drop 1/2 a million dollars to help you out..

Nov 16th
Reply (2)

Sarella

To be continued.....

Oct 3rd
Reply

Sarella

Scam Scam scam

Aug 23rd
Reply
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