The Dropout 1×1
Interviewer: Can you say the company name?
Elizabeth Holmes: Theranos.
Interviewer: I thought it was Therah-nos.
Elizabeth Holmes: No, Theranos. It's a mix between "therapy" and "diagnosis".
Interviewer: Why not Theranosis?
Elizabeth Holmes: Because the name is Theranos. Actually, can we cut that part?
Interviewer: Some rapid-fire questions. We call them Makers Minute. So, you are America's youngest female self-made billionaire. That's pretty cool.
Elizabeth Holmes: ... Yes.
Interviewer: If you are what you eat, what are you?
Elizabeth Holmes: ... Green juice.
Interviewer: Favorite place to visit.
Elizabeth Holmes: ... Uh, my office.
Interviewer: Best word to describe you.
Elizabeth Holmes: ... Mission-oriented.
Elizabeth Holmes: I'm going to drop out.
Chris Holmes: You're gonna do what?
Noel Holmes: No. No!
Elizabeth Holmes: Steve Jobs dropped out. Bill Gates dropped out. Michael Dell, Paul Allen. Elon Musk...
Noel Holmes: Who's Paul Allen?
Chris Holmes: He's the other Microsoft guy--
Noel Holmes: I don't care.
Elizabeth Holmes: I think I wanna focus on the biomedical industry. Because... I wanna help people... and I wanna be a billionaire. Like Steve Jobs.
Richard Fuisz: You know what you want.
Elizabeth Holmes: I do.
Moderator: You've served on boards of companies. I mean, why are you also a professor?
Professor: Because, honestly, Standford is the most exciting place to be right now. And it's 2002, so just imagine what tech is gonna be able to do in 2022, and it's gonna be up to you guys...
Elizabeth Holmes: I wanna start a company, and I'd like you to be a founding member. I don't wanna wait. David Filo and Jerry Yang started Yahoo while they were in your program, you must have invested.
Channing Robertson: Actually, they asked me and I said, "No." I wish I could take that one back...
Dr. Phyllis Gardner: If you think that people want a patch to diagnose them and then put medicine directly into their skin, then you've never met a sick person before. People go to school for a very long time to understand how to diagnose patients. You can't get a diagnosis from a patch because human beings aren't machines.
Elizabeth Holmes: But doctors make mistakes. And this would be based on data, so...
Dr. Phyllis Gardner: Well, data isn't everything. Um, people your age need to remember that machines make mistakes too, especially when humans are operating them.
Elizabeth Holmes: Yeah, but...
Dr. Phyllis Gardner: It's... it's fine. It's, uh, nothing personal. You had an idea. It's not gonna work, so you just... you keep learning. Keep trying.
Dr. Phyllis Gardner: I'm gonna be heading home and very nice to meet you.
Elizabeth Holmes: "Do or do not. There is no try."
Dr. Phyllis Gardner: What?
Elizabeth Holmes: That's Yoda from Star Wars.
Dr. Phyllis Gardner: So you've had a couple of classes, maybe a seminar or two, and now you think you know enough to start a company?
Elizabeth Holmes: I just thought as... as a woman, you...
Dr. Phyllis Gardner: Well, as a woman, let me explain something to you. You don't get to skip any steps. You have to do the work. Your work, other people's work. You have to do so much work, that they have to admit that you did it. Nobody helped you. You have to take away all their excuses. And then if you get anything, anything wrong, they'll destroy you, and they'll be so happy to do it, so no, as a woman, I can't help you right now.
Dr. Phyllis Gardner: And just... one other thing. Don't ever quote Yoda to anybody ever again. Science is trying. That's all that it is. You only get to really do something when you've been trying for so long that doing doesn't even seem possible anymore. So, science is real. Yoda is a fictional green character who apparently knows everything in the universe, except for syntax and grammar.
Dr. Phyllis Gardner: I'm sorry, your idea's impossible, but that's the way the world works.
Elizabeth Holmes: The world works in certain ways until a great idea comes along and... and changes everything.
Dr. Phyllis Gardner: Okay, I'm gonna... I'm gonna go, now. My husband is waiting for me with a glass of red wine and a foot massage, and the DVD of My Big Fat Greek Wedding which came in the mail today, so I suggest you find a version of that for yourself.
Noel Holmes: What does this thing even do? It... tests your blood?
Elizabeth Holmes: It's... Mom, you would never have to have a needle ever again...
Investigator: Do you ever recall telling anyone, your patients, your investors, your board, that in fact none of the technology you claimed to have invented was operational? And that the results they received were often inaccurate? Do you recall telling any of these people that your company was endangering their lives by giving them false information about their health?
Elizabeth Holmes: I knew that we made... so many mistakes, but we were... we were trying to... to take this forward, and at that time, we thought that we were doing the right thing.
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