Theranos was a health technology company founded in 2003 by Elizabeth Holmes. The company aimed to revolutionize blood testing by using just a few drops of blood to conduct a wide range of tests quickly and cheaply. However, investigations revealed that the technology did not work as promised, leading to legal issues and a significant loss of investor trust. In 2018, Holmes and former company president Ramesh Balwani were charged with fraud for misleading investors about the capabilities of their blood-testing devices.