The Dropout: Inside the Theranos Fraud That Changed Healthcare

How Elizabeth Holmes and Sunny Balwani deceived investors, doctors, and patients with a machine that didn't work

In October 2015, Wall Street Journal reporter John Carreyrou exposed Theranos as a fraud, revealing that the company's Edison blood-testing machine could not perform the hundreds of tests it claimed. The scandal led to the conviction of founder Elizabeth Holmes in January 2022 and a sweeping investigation into one of Silicon Valley's most ambitious—and most dishonest—companies.