The Elizabeth Holmes Theranos Deposition | Part 1

In Part 1 of the official SEC deposition of Theranos founder and former CEO Elizabeth Holmes, federal investigators delve into the early operations, corporate governance, and technology development behind the infamous biotech startup. Recorded on July 11, 2017, Holmes is questioned under oath regarding Theranos' inner workings, her partnership with Sunny Balwani, early contracts with pharmaceutical giants and the Department of Defense, and the aggressive fundraising efforts behind the C-1 and C-2 financing rounds. Watch as investigators press Holmes on the reality behind the "miniLab" and Edison devices, internal reporting structures, and how high-profile investors were pitched on a vision that ultimately unraveled. #ElizabethHolmes #Theranos #TrueCrime #HiddenKillers #TonyBrueski #SEC #Deposition #TrueCrimeToday 00:00:00 - Introduction & Swearing In 00:02:13 - Legal Counsel Identification & Ground Rules 00:05:00 - Exhibit 191: SEC Subpoena 00:06:00 - Exhibit 192: Background Questionnaire & Education 00:08:20 - State of Theranos in 2010 & Early Team 00:10:45 - Development of the MiniLab System & Cartridges 00:11:45 - MiniLab 3.5 Capabilities & Assay Validation 00:15:10 - The 4-Series MiniLab & DOD Burn Study 00:17:28 - Naming the Device: MiniLab vs. Edison 00:18:23 - Early Pharmaceutical Company Partnerships 00:22:00 - Exhibit 193: 2010 Draft Financials & ATA Ventures 00:27:45 - Cash Reserves & Sunny Balwani's $20M Bridge Loan 00:30:25 - Shifting the Business Model to Retail Pharmacies 00:32:30 - State of Theranos in 2013 & Phase Approach 00:36:20 - Sunny Balwani's Background & Hiring as COO 00:38:42 - Exhibit 194: Company Organizational Chart 00:41:25 - CLIA Lab Regulations & LDT Framework 00:45:06 - Division of Responsibilities: Holmes vs. Balwani 00:49:20 - Safeway & Walgreens Retail Relationships 00:49:52 - Department of Defense Contracts & Board Involvement 00:54:38 - Hiring, Firing, and Internal Governance 01:01:00 - Document Storage: "My Documents" vs. "300 Folder" 01:04:18 - CLIA Certification & Reference Testing for Safeway 01:06:38 - Role of Project Managers 01:13:44 - Session Resumes (Media Volume 2) 01:14:08 - Exhibit 195: Capitalization Table & Projections Binder 01:17:50 - Series C1 & C2 Investment Rounds 01:22:10 - Valuation & $15 Per Share Pricing 01:25:08 - Exhibit 196: Detailed Shareholder Spreadsheet 01:26:15 - Key Investors: Bendel Fund & Central Valley 01:29:08 - Key Investors: DeVos Family & Dynasty Financial 01:34:05 - Blue Cross Blue Shield (Sandbox Fund) 01:35:34 - The Walton Family (Soda Springs Partners) & Walmart Discussions 01:39:18 - Rupert Murdoch's Investment Status 01:40:10 - Pitching Investors & Due Diligence Materials 01:44:18 - Presentation Roles: Vision vs. Financial Projections 01:54:00 - Comparing MiniLab 3.0, 3.5, and 4-Series Capabilities 02:00:00 - Multi-Method Detection & "Lab in a Box" Architecture Listen To Hidden Killers Podcast ANYWHERE! Listen Here: https://linktr.ee/hiddenkillers Join Our SubStack For AD-FREE ADVANCE EPISODES & EXTRAS!: https://hiddenkillers.substack.com/ Instagram   / hiddenkillerspod   Facebook   / hiddenkillerspod   Tik-Tok   / hiddenkillerspod   X Twitter https://x.com/tonybpod This publication contains commentary and opinion based on publicly available information. All individuals are presumed innocent until proven guilty in a court of law. Nothing published here should be taken as a statement of fact, health or legal advice.