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Elizabeth Holmes and the Art of the No Easy Ask

Thursday, 12 April, 2018

If you think Mark Zuckerberg is having a tough week, consider the (mis)fortune of Elizabeth Holmes. Remember her? The CEO of Theranos was the poster girl for all those who bought and sold the delusion that a photogenic founder was an essential first step on the road to unimaginable riches. And, sure enough, gullible investors and sycophantic media beat a path to the golden door in the Valley in the hope of turning blood into treasure. And they ponied up an incredible $1.4 billion along the way.

Zuckerberg may have been on the hot seat, but Holmes is in deep water. Consider the letter she recently sent to shareholders regarding the company’s looming default on a $100 million loan. Snippet:

“The most viable option that we have identified to forestall a near-term sale or a potential default under our credit agreement is further investment by one or more of you. In light of where we are, this is no easy ask. However, given your support of the company over the years, we wanted to provide this opportunity before we proceed too far down the current path.”

Holmes is a fraud, but one has to admire (almost) the chutzpa of “this is no easy ask”.

Miss Fortune


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