Mm hmm. Great opportunity and asking so many people so many questions about things ranging from the future to kind of advice, and we thought wed ask a few questions that run a little bit of a gamut really quickly. Were also gonna be looking to the letter we thought would be addressing to ask you in the year 2025. Whats the thing . Youre most certain about . More people will have access to their own health information. What do you dream for something in 2025. The less people have to say goodbye to soon to people they love. Thats great. Um, can you tell us a secret . I dont have many secrets. Are you a scientist or a technologist . Or an entrepreneur coming entrepreneur. I was trained as an engineer. But now my time is spent on doing whatever it takes to realize this mission. Their nose is the integration of the words therapy. And diagnosis. And if we can shift toward a model in which were determining the onset of disease in time for therapy to be effective, we will change outcomes. You founded this company 12 years ago, right . Tell him how old you were. I was 19. It was never sort of a plan to drop out of stanford. But i found what i loved. I found what i wanted to spend my life doing. Elizabeth has raised more than 400 million. The company is valued at 9 billion you own over 50 of it, right. Congratulations on that. Youve got an Incredible Opportunity to try to hold a legacy and Silicon Valley or changing the world and we like to think about it as a movie, and you can begin to see that story in a better way. We see a world in which every person has access. Actionable health information. At the time it matters. A world in which no one ever has to say. If only id known sooner. A world in which no one ever has to say goodbye. Too soon. This future. Is beginning now. Nestled in the foothills above Silicon Valley. There is a 700 acre plot of land called the Stanford Research park. According to the website. Its a community of and for people who seek to invent the future. From here came elements of the microwave to the Mainframe Computer and the International Space station. Steve jobs spent time here. So did Mark Zuckerberg and elon musk. Elizabeth holmes saw herself in their company. So in the fall of 2014, she moved her Biotech Startup Theranos to the research park. The company employed 800 people and was valued at nearly 10 billion. Four years later, it was worth less than zero. To understand what happened. It pays to look past the price of the stock to the value of the story. This compelling tale of Dividing Hundreds of diseases from a drop of blood was a testament to the imagination of the inventor. In the deserted property she designed. You can almost hear the echoes of her ambition. And see how glass walls promising transparency could become elaborate of mirrors. Was elizabeth lost in a landscape between what she could make real and the world of make believe. For me. This was a story of how people get trapped over time with trading off human values, and then the way that they traded off those values change them, as is people and things go down, so part of it was trying to understand. Um and i think this is part of the story is the journey of elizabeth. Some people take a path trying to do positive things for the world, right . Theres no Nobody Questions that her motives were positive, but end up being something, but how do we react to this . You can look at her at the end. And say, how could she do this . But i think that would miss the point. If you dont understand the journey. If you look at her from the beginning, it will be a cautionary tale about all of us. I grew up Spending Summers and the holidays. With my uncle. I remember how much he loved the beach. Remember how much i loved him. He was diagnosed one day with skin cancer. Which all of a sudden was brain cancer. And in his bonds. He didnt live to see his son grow up. And i never got to say goodbye. The rate to protect the health and well being. Of every person. Of those we love. Is a basic human right . Over the course of the last 11 years weve made it possible. To run comprehensive Laboratory Tests from a few drops of blood. They could be taken. From a finger. And weve made it possible. To eliminate the tubes and tubes of blood. That traditionally have to be drawn from an arm. And replaced it. With the nana tainer. And if i had one wish standing here with all of you. It would be that no one has to go through the pain. Of traditional sabata me. I was always absolutely terrified of giving blood. The only thing in my life ive ever been scared of. If we were to sit here and dream up torture experiments psychologically, the concept of sticking large needles. Over and over into someone and draining out so much blood while theyre watching this blood being sucked out of them. That you basically completely debilitated them. That qualifies as a pretty good torture experiment in my book. I find it quite disturbing. This technician is preparing the Blood Samples for a white cell count. She dilutes the blood with a special fluid. And put the measured amount into a pipette. Since really the clinical Lab Infrastructure began to develop. Weve had this highly centralized, very big analytical instruments, which require that much blood and therefore people have had to take tubes and tubes every time they do a blood drop. So Laboratory Testing hasnt changed since the 19 fifties. Its the closest thing to Mainframe Computers versus its not even pcs versus Mobile Phones that that ive ever seen right . So the timing is very ripe to change this paradigm. Theres no shortcut to really hard work. And we learned so much more from our failures than we did from our successes. We code named our product the edison because we assumed wed have to fail 10,000 times to get it to work, 10,000 and first and we did. What does it mean to invent something . It could be an act of creation. Or an act of deception. The worlds greatest inventor, did both think of Thomas Edison as the inventor of the phonograph, the Electric Light Bulb and the way we look at the world. Innocence company made one of the first Motion Picture cameras and the very first commercial movie blacksmithing scene. His company produced over 1200 films, Documentaries And Fiction Films , including the first screen kiss. Edisons greatest invention may have been himself first celebrity businessman edisons secret was knowing how to tell a good story in which he cast himself as the main character. The wizard of menlo park, a man who could conjure anything in his laboratory. He had his name on over 2000 patents from telegraphs to vacuum pumps to electric cars. But he often promised far more than he could deliver. In 18 78 , the new york sun printed claimed by edison that he had solved the mystery of the incandescent light bulb. But it wasnt true. His filaments kept melting when reporters and investors asked for demonstrations. He fixed them. To keep journalists sympathetic. He gave them stock in his company. For four years. He pretended his invention was good to go, even while he scrambled to make it work, then just before his money and credit ran out. He solved the problem of how to keep the lights on. He was the first to practice the Silicon Valley art. Fake it till you make it. More than 100 years after edisons first movies. Elizabeth holmes modeled her own ambitious career after the Great American inventor. With a Magical Machine named after the man himself. It was obviously such a incredible story, the 19 year old dropout, a woman creating this 9 billion innovative company. And went out there for four days, three interviewing her and one interviewing some other people working on when she was talking about some subject other than diagnostic testing. She was very unprepossessing, very ingenuous when she began to talk about the mission, or they, you know her business. Then there was a shift and she became very, very focused, very intense, firm control of all the facts. No question. Surprised her, um very impressive and very idealistic. We were the first to put on the cover and write a major story about this amazing woman. Next to me, this ceo is out for blood. This is elizabeth, second public. Live interview fortunate invited her to the most powerful womens conference, even though she wasnt the head of a fortune 500 company. And she was saying to us. Im the only one of these people that founded a company. You know, theyre ceo s. Yeah but i founded this company. I invented what this company is about. I deserve to be here. Ill talk with people. Sometimes theyll say, oh, you know, i want to start a business and my question is always why . Because theres got to be a mission. I had heard about theranos and Elizabeth Holmes, Woman Executive in the male dominated Silicon Valley, where were starting a company with some real potential social good lot about disruption. And theranos was aimed to be a disruptor of the established ways of doing things the established inefficient and expensive ways of doing things and she was going to herald a revolution in medical treatment in this country. Yeah. The lab industry needed disrupting it was dominated by two companies quest and labcorp. Between them, they control almost 80 of the market. Blood test prices were always high and never transparent. They were sued for overcharging medicaid and medicare for billions of dollars , but the size of their operations, including the ability to do over 1000 different blood tests made them difficult to challenge. Until Elizabeth Holmes and edison. She had built a staff of 700 people. I went out to look at the newark , california facility, which was extraordinary. You know her stories so compelling. I mean, if you think about it, you go in and you see this woman lives in a department. Basically she called her apartment a mattress. The only thing the refrigerator was bottled water at all the meals at the office. She slept four hours a day. She worked in the office till midnight or thereabouts. Yes. Do you date . I dont. I dont. Im married to theranos. That was, thats literally her words. What she said to me, and i believed it. You were black outfits a lot. Why because in line with the designing my life to be able to give every bit of energy i have to this closet that has a very large number of the exact same set of clothes and every single day with the same thing on and i dont have to think about it. Jab used to say that too. Steward jeans. She was, obviously you know, steve jobs was her hero, and i just felt oh, well, shes a young person, you know, ill give them their little hero worship thing, you know . Im a tremendous admirer of what jobs did. I think he was a genius. I do have to disclose that ive been in black turtlenecks since i was seven. Mm hmm. Chasing Business Premier card is made for people like sam who make everyday products design smarter, like a smart coffee grinder. Fresh beans for you, genius for more breakthroughs like that Breakthrough Card like ours with 2. 5 cash back on purchases of 5000, or more unlimited 2 cash back on all other purchases and with greater Spending Potential, making smart ideas, brilliant reality. Business card from Chase For Business make more of whats yours. Dinner. What is like this may start at age nine vaccination, a type of Cancer Prevention against certain hpv related cancers can start then to most people. Hpv clears on its own, but for others, it can cause certain cancers later in life. Embrace this phase, help protect them in the next starting at age nine. Talk to your childs doctor about hpv vaccination. 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And we all have the headphones on translators. And she says the strategic priority of brazil is to get access to low cost diagnostics that can facilitate Early Detection and prevention. And were all kind of sitting there and you can see like all the other ceos faces being like no wanting to be the ones in the spotlight. And she kept on doing this for, like an hour and a half. And so, of course im trying to be humble, but, um, when i first met her, i thought she was really interesting. It was. It was hard to really get a sense of who she was. But in a in a way, i felt i idolized her in so many ways based on like the little that i had read your husband. For being a woman in the sciences being a woman in tech. The fact that she started her own company that really got me excited. You know, she was a really good idle to have so much in a sense, i was super naive and like almost drank the kool aid like a little too quickly. And was just more enthusiastic to be a part of the team. You all are part of something that is a revolution and youre part of something that is going to change our world. What what higher purpose is there in life than to be able to be doing that . When i went down and interview elizabeth was there and i was a little surprised, considering i would be the low man on the totem pole. I found out later there was no one that got past her in order to get hired. Um i know this sounds odd, but my First Impression was that she didnt blink. And so i always wanted to make sure that i kept great eye contact because i didnt want to be the one that look over, right . Uh, so she was very intense. Comparing it to the other interviews that i had with other Tech Companies in the bay area. It was different. You know, they didnt tell me nearly as much about what they were doing. She never blanked during the interview. She did tell me about just the one drop of blood and you know, its medical testing company. Um they didnt say anything about how it worked, or you know what the technology was. They just said, you know, youll be working with consumables, which was kind of vague. How did they describe the project . They didnt. You know what youre signing on for . I had a very vague idea. I didnt thats actually not that untypical in startup environments. They want to keep what theyre doing secret. The response of the major Lab Companies was to say, well, we dont know how theyre doing with and its so great. Why dont they show . Theres too much secrecy is what they say thats exactly what they said. And you know, our position on that is first of all. We dont think that we need to explain ourselves to competitive companies. What were working to do is to invent an integrated solution where every person gets access to this wealth of information. From tiny droplets of blood and then see how they change over time. She talked some about currently you get a blood test, maybe once a year, and so you get a snapshot of whats going on if you were to start doing it every month, say you would get a movie. You have multiple frames from them. And you can begin to see the context of projecting where someone youre seeing changes in Laboratory Data over time and understand. The clinical significance of that data can be used in a more meaningful way. It was personalized medicine. Maybe you could catch something very early. You know, you can catch an early cancer or you could get. You know when there was still time. This was sort of the vast patient. So the idea with the addison was to stick the lab inside the box. Because it incorporates so many different disciplines. Its hard to pull this off. Theres always different components that go into the machine. Theres a center fuse. Theres a, um a little thing the