The young founder, who had been compared to Steve Jobs, was now being dubbed a "millennial Madoff " by the New York Post. Forbes, which had once estimated Holmes's wealth at $4.5 billion, wrote it down to zero. Walgreens, its largest partner, terminated the relationship and shut down 40 testing sites. Theranos was under investigation by the Securities and Exchange Commission, the Department of Justice, and the Federal Bureau of Investigation. Owing largely to Carreyrou's reporting, the fallout had been colossal, unprecedented. Theranos, which had raised nearly $1 billion in funding for a valuation estimated at around $9 billion, now appeared less a medical-sciences company than a house of cards. Carreyrou had even revealed that Theranos relied on third-party devices to administer its own tests. John Carreyrou, an investigative reporter at The Wall Street Journal, had spent nearly two years detailing the start-up's various misdeeds-questioning the veracity of its lab results and the legitimacy of its core product, the Edison, a small, consumer blood-testing device that supposedly used just a drop of blood to perform hundreds of medical tests. Theranos, the blood-testing company that she had dreamed up more than a decade ago, during her freshman year at Stanford, was imploding before her very eyes. It was September 2017, and the situation was dire. Elizabeth Holmes appeared to know exactly what she needed to do.
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