17. Fame

Dated May 21, 2018; last modified on Sun, 14 Mar 2021

Richard and Joe Fuisz were tired and battered. They had already spent $2m+ on their defense. What if they lost and were made to cover Theranos’s legal expenses?

Richard agreed to withdraw patent in exchange for Theranos withdrawing its suit. The Fuiszes had lost. But Joe demanded a public apology from Theranos.

Roger Parloff, Fortune Magazine’s legal correspondent saw the settlement in Litigation Daily. After speaking to Shultz, Perry, Kissinger, Nunn, Mattis and the 2 new directors: Kovacevich (former Wells Fargo CEO) and Frist (former Senate majority leader), came the June 2014 cover story that catapulted Elizabeth to fame: This CEO Is Out for Blood. Elizabeth being $5b+ was first disclosed here.

Forbes saw Fortune article, confirmed Theranos’s valuation and Elizabeth’s stake. Then came the “Bloody Amazing” article that pronounced Elizabeth as the youngest woman to become a self-made billionaire. Then followed USA Today, Inc, Fast Company, Glamour, NPR, Fox Business, CNBC, CNN, CBS. The Valley had had its first female billionaire tech founder.

Elizabeth embraced fame: heavier security detail, new Audi lease every 6 months to avoid license plates, personal chef, flying in a private Gulfstream jet…