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4.6

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Money. Romance. Tragedy. Deception. The story of Elizabeth Holmes and Theranos is an unbelievable tale of ambition and fame gone terribly wrong. How did the world's youngest self-made female billionaire lose it all in the blink of an eye? How did the woman once heralded as "the next Steve Jobs" find herself facing criminal charges - to which she pleaded not guilty - and up to decades in prison? How did her technology, meant to revolutionize health care, potentially put millions of patients at risk? And how did so many smart people get it so wrong along the way? ABC News chief business, technology and economics correspondent Rebecca Jarvis, along with producers Taylor Dunn and Victoria Thompson, take listeners on a journey that includes a multi-year investigation. You'll hear exclusive interviews with former employees, investors, and patients, and for the first-time, the never-before-aired deposition testimony of Elizabeth Holmes, and those at the center of this story. Then, go inside the courtroom as 12 jurors decide the fate of the Theranos founder; three years after she was first charged, we find out how this saga finally ends.

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Introducing 'Burden of Proof: Luigi Mangione'

2026/08/10

Today, we're sharing the first episode of our latest series from ABC Audio and 20/20, 'Burden of Proof: Luigi Mangione.' In episode one, the manhunt for the alleged shooter of UnitedHealthcare CEO Brian Thompson comes to an end at a McDonald's in Altoona, PA. To keep listening, find 'Burden of Proof: Luigi Mangione' on ⁠⁠Apple Podcasts⁠⁠, ⁠⁠Spotify⁠⁠, ⁠⁠Amazon Music⁠⁠, or wherever you listen to podcasts. Or listen ad-free when you subscribe to ⁠⁠20/20 True Crime+⁠⁠ on Apple Podcasts.

The Prosecution Rests & Elizabeth Speaks

2021/11/23

In a monumental week in the trial of United States v. Elizabeth A. Holmes, the prosecution introduced its final week of witnesses before resting its case. Among them, a patient who received troubling results from a Theranos HIV test and a journalist whose damaging interviews with Elizabeth were played for the first time in court. And in a literal final-hour shocker, the defense called Elizabeth Holmes to the stand. Did the government bring its case home? Did Elizabeth begin to sway the jury? Learn more about your ad choices. Visit megaphone.fm/adchoices

The Beginning of the End

2021/11/16

In this episode, we hear from two Theranos lab directors -- one who never met Elizabeth or stepped foot into the company's lab, another who ultimately voided more than 50,000 Theranos tests after a damning government inspection. And we hear from an irate investor who says Elizabeth Holmes cut off communication with him when he asked for basic information about the company. Plus, 10 weeks into the trial, with only 24 witnesses out of a possible 181 on the government's initial list having taken the stand, we hear a surprising update from prosecutor Jeffrey Schenk: This week might be the prosecution's last before it rests its case. Learn more about your ad choices. Visit megaphone.fm/adchoices

Patterns

2021/11/09

Nine weeks into the criminal trial of Elizabeth Holmes, we've heard from dozens of witnesses -- Elizabeth's colleagues, board members, investors, clients, scientists, accountants and corporate executives. It's impossible not to feel the repetition. We learn that a fake Pfizer memo wasn't the only document Theranos falsified, and we're introduced to a man with deep connections to many of the central players in Elizabeth's orbit. Patterns in the prosecution's questioning are beginning to become clear, and experts show us it's all part of a greater plan. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Investors

2021/11/02

This week, we hear from high-profile companies and individuals who invested millions of dollars into Theranos, the prosecution reiterating that these investments were made on the basis of what they say was a pattern of misinformation, exaggeration and outright lies coming from Elizabeth Holmes herself. And we hear from a Pfizer scientist who speaks to the supposedly doctored Pfizer document that Theranos showed investors to help lure them in. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Therabros

2021/10/26

This week, we got a peek into how things at Theranos could at times be a full-on family affair. Elizabeth recruited her brother Christian to the company. He, in turn, recruited five of his Delta Tau Delta fraternity brothers to join him. The group would come to be known as "The Therabros." We hear from one Therabro who would rise to the rank of Elizabeth's lead of strategic operations. He interacted with VIP investors, board members, military officials and business partners, and revealed to the court what the government says was a disturbing pattern of misinformation. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Clients

2021/10/19

Theranos' biggest clients, Walgreens and Safeway, are on the stand this week, testifying to what exactly they say they were told before signing multimillion-dollar deals with the blood testing startup. In email exchanges, text messages and board presentations, the prosecution paints a picture of deception while the defense claims the industry giants should've known better. Plus, we hear from Sunny Balwani's dermatologist of 15 years, who happened to also become Theranos' lab director. Learn more about your ad choices. Visit megaphone.fm/adchoices

Crime and Punishment

2021/10/12

This week, two jurors ask to be excused, citing stress around punishment and the responsibilities in deciding the future of Elizabeth Holmes. A young woman, with unusual ties to this case, gives her perspective as a trial observer, and a veteran Silicon Valley investor puts the Theranos saga in larger context. Learn more about your ad choices. Visit megaphone.fm/adchoices

Sounding the Alarm

2021/10/05

This week, we hear some shocking insights from a former Theranos lab director who says he tried to stop the train before it ran off the tracks. From failing machines to a lack of proficiency testing, he tells of the pressure he felt to vouch for tests while maintaining his integrity as a lab director. And he describes how he says he tried to delay the Walgreens launch, pleading with a "nervous" Elizabeth, who went forward nonetheless. But does an aggressive and lengthy cross-examination undermine his claims? Learn more about your ad choices. Visit megaphone.fm/adchoices

The General and the Patient

2021/09/28

This week, a high-profile witness from Elizabeth's superstar board of directors surprises the courtroom by taking the stand: 4-star general and former U.S. Secretary of Defense James Mattis. He speaks of being dazzled by the potential of Theranos' devices on the battlefield and the disillusionment he felt when the full story came to light. Plus, we meet a patient whose Theranos test results led to a terrifying ordeal. Learn more about your ad choices. Visit megaphone.fm/adchoices

Mystery Men

2021/09/21

This week, we hear from Erika Cheung, one of the whistleblowers who originally set Elizabeth's downfall in motion and who says she was subjected to disturbing intimidation tactics as a result. Legal experts analyze the success of each side's opening arguments. And a mysterious man named "Hanson" causes quite the stir. Learn more about your ad choices. Visit megaphone.fm/adchoices

Setting the Stage

2021/09/14

Elizabeth, holding hands with her partner, Billy and her mother, Noel, breezes into the courthouse to hear opening statements in her financial fraud trial. The government and the defense set the stage, giving us a roadmap of how their sides of the case will unfold. The prosecution says this is a case about fraud, lying and cheating, while the defense paints a picture of an ambitious young woman trying to change the world. She made mistakes, they say, but didn't break the law. And we hear from the case's first witness: Theranos' top ranking financial employee who has a lot to say about how Elizabeth may have misled investors. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Jury

2021/09/07

This week, after 11th-hour bombshell allegations of abuse were revealed, we meet the seven men and five women who will ultimately be deciding Elizabeth Holmes' fate. We take a peek inside the courtroom, and speak with some of the potential jurors who were dismissed. We'll hear firsthand what Elizabeth's demeanor is like in the courtroom, what the prosecution and defense appeared to be looking for in a jury, and details about who was actually chosen. Learn more about your ad choices. Visit megaphone.fm/adchoices

Bombshell

2021/08/31

Today, after four postponements, a global pandemic and a baby, Elizabeth's long-awaited trial finally begins with jury selection. With millions of pages of discovery, a potential witness list of more than 200, and nearly 4,000 exhibits, Elizabeth's team of heavyweights has their work cut out. And at the 11th hour, the biggest bombshell yet -- Elizabeth's team has alleged that she was subjected to a decade of physical, sexual and psychological abuse. How will this play for a jury? Will Elizabeth take the stand, and what are the chances of a conviction? Learn more about your ad choices. Visit megaphone.fm/adchoices

Where Have You Been, Elizabeth Holmes?

2021/08/31

It's been over three years since Elizabeth Holmes was charged with multiple counts of fraud. Once the youngest female self-made billionaire, she was poised to change health care forever. Now she faces decades in prison if convicted. What has Elizabeth been up to while the government has been building its case against her? The answer includes a trip to Burning Man, a new relationship and a baby born just over a month before her trial. Learn more about your ad choices. Visit megaphone.fm/adchoices

Podcast reviews

Read The Dropout podcast reviews

4.6 out of 5

23461 reviews

★★★☆☆

-racer- 2026/09/13

Too much re-use of audio

The reporting is good but I feel like I’m listening to the same audio over and over. They re-use a lot of material.

★★★☆☆

lunari113 2025/03/28

Dragging it out

There is an unnecessary amount of repetition in the second season covering the trial. They feel the need to replay the same clips from Elizabeth’s dep...

★★★★☆

Cinnamonpumpkinface 2024/12/22

Really informative and interesting

I am loving this podcast. Giving lots of a Scamanda vibes, and I love it!

★★★★★

Silvapain 2024/12/17

Like a Good Neighbor, Walk Away

The show was great, and then they flooded it with ads for other shows. Completely turned me sour on the whole thing.

★★★★★

whenisayyou for scratch 2024/11/29

Amazing!!!

This is an amazing podcast!!

★★★☆☆

Halo69 2024/10/14

LOTS of Filler

I saw a study recently that showed women typically speak about 7000 words a day. Men - 2000 words. This podcast supports that finding. This was pro...

★★★★☆

Allison B 21 2023/11/27

First part great

The first part of the series was amazing. Very engaging. But once they get to the trial it’s very repetitive I couldn’t listen to the whole thing.

★★★☆☆

JulianZ13 2023/11/26

Good but gets old

The first season is good, after that, it feels like every other audio clip was something reused from season one. By the end I felt sure I had heard ce...

★★★★★

Simy2006 2023/09/17

Riveting podcast

This is one of my absolute favorite podcasts. The topic was well covered, Jarvis is an excellent journalist and the diversity of people in the case in...

★★★★★

Bellamammal 2023/08/02

Nice deep dive

Thought I knew most everything there was to know about this reprehensible scam/ scammer. This outstanding coverage brings the peripheral players into ...

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