her entire Theranos empire around a product

她的整個Theranos帝國圍繞著一個產品

that was supposed to solve

這本來是為了解決

one of the biggest hurdles in healthcare,

醫療保健的最大障礙之一。

access to affordable blood testing.

獲得負擔得起的血液測試。

With her revolutionary Edison Machine,

帶著她革命性的愛迪生機器。

a single drop of blood would be able to run up to 240 tests

一滴血可以進行多達240次測試

from albumin to white blood cell count,

從白蛋白到白血球計數。

and everything in between.

以及兩者之間的一切。

It was going to change healthcare as we knew it.

它將改變我們所知的醫療保健。

- Our work is in the belief that access

- 我們的工作是在相信，獲得

to health information is a basic human right.

獲得健康資訊是一項基本人權。

- [Narrator] By 2015 Forbes named Holmes

- [旁白]到2015年，《福布斯》評為霍姆斯

the youngest and wealthiest self-made billionaire in the US.

他是美國最年輕和最富有的自制億萬富翁。

- Until we put Elizabeth on our cover

- 直到我們把伊麗莎白放在我們的封面上

just a few months back,

就在幾個月前。

I hadn't heard of you, I hadn't heard of the company,

我沒有聽說過你，沒有聽說過這個公司。

and yet your company is valued at over $9 billion.

而你的公司卻被估值超過90億美元。

- [Narrator] But, there was a catch .

- [旁白]但是，有一個問題。

Behind closed doors, the Edison Machine simply didn't work

閉門造車，愛迪生機器根本不工作

nearly as well as promised,

幾乎和承諾的一樣好。

and Theranos was essentially a sham.

而Theranos本質上是一個騙局。

But with hundreds of millions of dollars in funding,

但在數億美元的資金支持下。

Theranos allegedly continued to persuade investors

據稱，Theranos繼續勸說投資者

into believing in their cons,

相信他們的謊言。

and the investments kept coming.

而投資不斷湧現。

Venture capital funded companies are nothing new

風險資本資助的公司並不新鮮

for Silicon Valley.

為硅谷。

In many ways, investors have become

在許多方面，投資者已經成為

one of the most important parts

最重要的部分之一

of the entire startup ecosystem.

的整個初創企業生態系統。

- When I'm an investor in a startup,

- 當我是一個創業公司的投資者時。

I assume that 60% of them are gonna go out of business.

我假設其中60%的人將會倒閉。

- [Narrator] The question is why did investors

- [旁白]問題是，為什麼投資者

embrace a startup like Theranos

擁抱像Theranos這樣的初創企業

which built its entire empire around a product

該公司圍繞一個產品建立了其整個帝國

that didn't work?

沒用的？

And now with Elizabeth Holmes on trial

而現在隨著伊麗莎白-霍姆斯受審

for allegedly lying to them,

因涉嫌對他們撒謊。

why do so few of them see mad about it?

為什麼他們中很少有人為此而生氣？

- There is a great technology and it's gonna happen,

- 有一項偉大的技術，它將會發生。

and she will have had a huge hand in making that happen.

而她將在實現這一目標方面發揮巨大作用。

- [Narrator] Having grand ambitions isn't a crime,

- [旁白]擁有宏偉的野心並不是一種犯罪。

startups often present some pretty wild ideas.

初創企業經常提出一些相當瘋狂的想法。

- This will enable the creation of a lunar base.

- 這將能夠建立一個月球基地。

(crowd applause)

(眾人鼓掌)

- [Narrator] But if a company

- [旁白]但如果一家公司

allegedly uses deceptive practices

據稱使用了欺騙性的做法

in order to raise hundreds of millions of dollars,

以便籌集數以億計的資金。

well, that's a different story,

嗯，這是一個不同的故事。

and why Elizabeth Holmes is on trial

以及為什麼伊麗莎白-霍姆斯受審

for numerous charges related to wire fraud.

因許多與電信欺詐有關的指控而被起訴。

- It's very rare that we see the CEO of a company

- 我們很少看到一個公司的CEO

facing criminal charges, much less the founder of a startup.

在面臨刑事指控的情況下，更不用說一個初創企業的創始人了。

- [Narrator] Russell Brandom is Policy Editor at The Verge.

- Russell Brandom是The Verge的政策編輯。

He's been following the Holmes trial since the beginning.

他從一開始就在關注霍姆斯的審判。

- A lot of charges here a wire fraud

- 這裡有很多指控，包括電信欺詐

because they wired the money,

因為他們匯了錢。

so if they had mailed cash, it would be mail fraud.

是以，如果他們郵寄了現金，就屬於郵件欺詐。

Most of them are wire fraud against investors.

其中大部分是針對投資者的電信欺詐。

Allegedly, she said things that weren't true,

據稱，她說了一些並不真實的事情。

and then based on those lies,

然後基於這些謊言。

she was raising money and that's fraud.

她在籌集資金，這就是欺詐。

- [Narrator] In 2015, the Wall Street Journal

- [旁白]2015年，華爾街日報

published a slew of articles

發表了一連串的文章

revealing multiple levels of deceptive practices.

揭示了多層次的欺騙性做法。

Theranos allegedly covered up these practices

據稱Theranos掩蓋了這些做法

while continuing to coax money from wealthy investors.

同時繼續從富有的投資者那裡哄騙資金。

And the list is impressive.

而這個名單是令人印象深刻的。

Media mogul, Rupert Murdoch, General Jim Mattis,

媒體大亨魯珀特-默多克，吉姆-馬蒂斯將軍。

who also served on the third most board,

他也曾在第三屆董事會任職。

and even the Walton Family, you know,

甚至是沃爾頓家族，你知道。

the richest family in the world.

世界上最富有的家族。

- So because of that culture of venture capital,

- 是以，由於這種風險投資的文化。

investors always, always defend their companies.

投資者總是，總是捍衛他們的公司。

And you see, even after a lot of the reporting

而且你看，即使在很多報道之後

has come out saying, look, these machines are not working,

已經出來說，看，這些機器不工作了。

something doesn't smell right here,

這裡有些東西聞起來不對。

a lot of investors were still defending Elizabeth Holmes

很多投資者還在為伊麗莎白-霍姆斯辯護

saying, "Oh, she's the next Steve Jobs,

說，"哦，她是下一個史蒂夫-喬布斯。

you're just trying to take down

你只是想打倒

a sort of visionary founder."

一種有遠見的創始人"。

- Are you willing to admit that you were wrong

- 你是否願意承認你錯了

about this one?

關於這個？

Absolutely not, I feel that we have taken down

絕對不是，我覺得我們已經拿下了

another great icon.

另一個偉大的圖標。

- I think really it's just,

- 我認為真的是這樣。

they want to give everything as much runway as possible,

他們想給所有的東西儘可能多的跑道。

and they figure look, either things will work out

他們認為，看，要麼事情會解決的

and then I'll get rich and look like a genius,

然後我就會發財，看起來像個天才。

or it won't and it's not really my problem.

或者它不會，這其實不是我的問題。

- [Narrator] For most of the Theranos investors,

- [旁白]對於大多數Theranos的投資者來說。

the amount of money lost pales in comparison

賠錢的事不值一提

to their net worth.

到他們的淨資產。

And while some were able to claw back their investment,

雖然有些人能夠拿回他們的投資。

many simply lost it all.

許多人根本就失去了這一切。

- You know, is the victim here, Rupert Murdoch?

- 你知道，這裡的受害者是魯珀特-默多克嗎？

I don't know, I don't feel that much sympathy for him.

我不知道，我對他沒有那麼大的同情心。

I don't think this meaningfully affected Rupert Murdoch's

我不認為這對魯珀特-默多克的工作有什麼影響。

net worth, like no one is sleeping on the street tonight

淨資產，就像今晚沒有人睡在大街上一樣

because they invested in Theranos.

因為他們在Theranos投資。

It was a really bad time for the employees,

對員工來說，那是一個非常糟糕的時期。

but they're not really sort of represented here.

但他們在這裡沒有真正的代表。

It was a really bad time for some patients

對一些病人來說，那是一個非常糟糕的時期

who got bad medical results.

得到不良醫療結果的人。

It is odd that the investors are at the center of the trial

奇怪的是，投資者處於審判的中心。

when they're kind of the least sympathetic players here.

當他們是這裡最不值得同情的角色。

- [Narrator] This obviously doesn't justify the fraud

- [旁白]這顯然不能成為欺詐行為的理由

that allegedly took place behind the scenes at Theranos,

據稱，在Theranos公司的幕後發生了一些事情。

but it does point to a larger pattern of behavior

但它確實指出了一個更大的行為模式

in Silicon Valley that has become somewhat problematic.

在硅谷，這已經變得有些問題。

Investors blindly tossing huge sums of money

投資者盲目地拋出鉅額資金

behind overheated companies

過熱的公司背後

that in reality only have a small chance

而實際上只有很小的機會

of succeeding in the first place.

首先是成功的。

If you really researched what Holmes was promising,

如果你真的研究了霍姆斯的承諾。

it didn't add up.

它沒有增加。

Testimony from the trial has revealed

審判中的證詞顯示

that many investors failed to exercise due diligence

許多投資者沒有盡職盡責

before handing over millions in funding to Theranos.

在向Theranos交出數百萬資金之前。

Many barely knew anything

許多人幾乎不知道什麼

about the healthcare industry at all.

關於醫療保健行業的情況。

- You got people who were sort of very prestigious

- 你有一些非常有聲望的人

and very important, but maybe not rigorous enough

而且非常重要，但可能不夠嚴謹

to really check what was being claimed.

以真正檢查所聲稱的內容。

Success builds more success.

成功會帶來更多的成功。

So you hear a Rupert Murdoch invested in this company.

所以你聽說有一個魯珀特-默多克投資了這家公司。

Well, he must have done his research.

嗯，他一定是做了研究。

Well, why did Rupert Murdoch invest?

那麼，魯珀特-默多克為什麼要投資呢？

Well, he heard that the army was using it.

嗯，他聽說軍隊正在使用它。

None of these were people who were really experienced

這些人中沒有一個是真正有經驗的人

in the blood testing world.

在血液檢測領域。

And when you got someone like that, who was, you know,

當你有這樣的人，他是，你知道。

Bill Gates famously looked at their technology,

比爾-蓋茨看中了他們的技術，這一點很著名。

he has a lot of money,

他有很多錢。

he's interested in investing in things,

他對投資的事情感興趣。

but he has this larger background in looking at, okay,

但他有這個更大的背景在看，好吧。

what are the medical interventions?

有哪些醫療干預措施？

What can we, what can we be looking at?

我們可以，我們可以看什麼呢？

And he was like, "This doesn't make any sense."

他就說，"這沒有任何意義"。

No one could test that much from a drop of blood.

沒有人能夠從一滴血中測試出這麼多。

And the things they're saying

而他們所說的事情

about how they're doing it, don't add up.

關於他們是如何做到這一點的，並不成立。

- [Narrator] Ultimately what may have led Theranos

- [旁白]最終可能導致Theranos公司

to use allegedly deceptive tactics

使用所謂的欺騙性策略

was the momentum from the investors themselves

是來自投資者本身的動力

who wanted so badly to turn a profit

迫切希望實現盈利的人

that they ultimately couldn't see through all the hype.

他們最終無法看穿所有的炒作。

- I think people are very, very angry at Elizabeth Holmes.

- 我認為人們對伊麗莎白-霍姆斯非常、非常生氣。

I think you have people who are mad at, you know,

我認為你有的人很生氣，你知道。

maybe the media that enabled her,

也許是那些使她得以存在的媒體。

sort of, if you wrote an article saying,

算是吧，如果你寫一篇文章說。

"Oh, this is a visionary genius,"

"哦，這是個有遠見的天才"。

You sort of feel like a bit of a doofus,

你覺得自己有點像個傻子。

but like, even now I don't think the people

但是，即使是現在，我也不認為那些人

who invested in Theranos and like enabled

投資於Theranos公司的人以及像使

all of this, are seeing any real consequences from it.

所有這些，都看到了它的任何實際後果。