Elizabeth Holmes founded Theranos in 2003 claiming to revolutionize blood testing with tiny finger-prick samples. The company reached a $9 billion valuation. In reality, the Edison machine could only perform 12 of 200 advertised tests; most samples were secretly run on commercial third-party analyzers. Holmes personally falsified validation reports and forged documents claiming Pfizer and Schering-Plough had validated the technology. Whistleblowers and WSJ journalist John Carreyrou exposed the fraud in 2015. Holmes was convicted on four counts of wire fraud and sentenced to 11 years and 3 months in prison.