elizabeth holmes fooled the world.ice use as pinprick of blood to run every test known to man. in "wall street journal" investigation john discovered the technology was mostly science fiction. she told doctors and patients the blood tests were accurate and reliable. according to the feds she knew they were not. she conned many high profile investors. henry kissinger sat on the build. joe biden visited fake lab which was filled with malfunctioning prototypes of the device. >> you can see firsthand what innovation is all about, just walking through this facility. >> we can begin to make health information more accessible at the time it matters most. >> holmes was indicted on wire fraud charges in june and joining knee how is john, the author of this book bad blood, secrets and lies in the silicon valley startup and he is part of the "wall street journal," which is how i was following these stories for years before you wrote the book. take me back to when you first started getting an inkling there was something wrong here

people like elizabeth holmes and the young founders were able to dictate the terms and do what they wanted and in this case, keep more than 99% of the voting rights. the board of directors couldn't reach a corm without her. that was not a real board of directors. it had no power whatsoever. it's also given rise to the situation where the companies because they have access to money in the private markets and they put off going public for a long time. they're able to continue operating not in a transparent way, at least not as transparently as they would have to if the ipo and they suddenly it had to purdah earnings every quarter and annual reports and answer questions. >> impure review. >> another lesson is that she modeled herself after the traditional silicon valley. the silicon valley that started with the microprocessor in the 50s and 60s that became the personal computer industry. it is now essentially smart phone apps and companies like uber. that's not medicine an increasingly there's a convergence between traditional tech and help. >> so increasingly there's going to be this converg

this is "bad bloods" about the alenelled blood diagnostic company and its charismatic founder elizabeth holmesovel about arcadia and tragedy by the people who used it as a vice i promise you that you will hate almost everyone connected with this company and will think they belong in jail after you read this remarkable book, written by the pulitzer prize-winning reporter from the "wall street journal. that's why i was thrilled that he dropped by the set to talk about his riveting expose that you should read between now and labor day. take a look. john, anyone who read "bad blood: secrets and lies and the silicon valley start-up," can they still believe she is anything but crazy >> well, i think people earn the right to, you know, ask and question what's going on in her mind and what has been going on in her mind for 15 years i like to say that this is different from a bernie madoff type of fraud in that she dropped out of stanford really wanting to be an entrepreneur and her idol was steve jobs, and she idolized apple and really wanted to replicate that success story. and i don't believe that s

would have thought would have been humanly possible so, you have to admire him this is not like elizabeth holmes where there's a lot of questions as to whether or not the thing was a fraudulent scheme built by a sociopath. this is very real. however, they can't do without him, but doesn't have to be the ceo. he could step up into some chief technology officer, some visionary role, vice chairman and even a nonexecutive chairman or executive chairman. but, clearly, he's losing the credibility to lead with this volatility and this erratic behavior >> there are tesla cars on the road real operating company and the cars are spectacular in many different ways and perhaps as the lead cheerleader for tesla, a real company unless like the analogy you made, jeff what do you think becomes of mr. musk investigators probably sniffing around because of that tweet, as well he talked about how tired he is. is it time maybe for him to take a step back for a couple weeks and let the board figure out what to do next? >> well, this is the time of day when you're at your best, i know you're not tired whether or not

elizabeth holmes stayed on for five torture years before justice finally decided to prosecute her forefraudels of justice, they grind slowly while you may think elon musk is a total liar, a modern day pt barnum, there is no standard what you can and can't trust if it turns out he is telling the truth, anyone betting against this stock is going to be annihilated why would you do that to yourself if you don't like tesla, you should silt, but don't short shorting tesla has been a recipe for a disaster stop betting the wile e. coyote will catch the roadrunner. it doesn't happen. stick with cramer. ♪ you shouldn't be rushed into booking a hotel. with expedia's add-on advantage, booking a flight unlocks discounts on select hotels until the day you leave for your trip. add-on advantage. only when you book with expedia. ♪ >>> nvidia reports on thursday get this, tonight wells fargo goes from sell to buy. that's a double upgrade, right on the eve of nvidia reporting and a new chip they came out with i don't know i mean, this stock could be breaking out i like to say there is always a bull market som

i think elizabeth holmes that people didn't bring the hammer down on her for years.she was a pretty young woman. who presented herself as i'm the next steve jobs and look at my blond hair, and that she got a pass because of that. that men were smitten with her i read that book by john that is -- an abuse of their gender i think she abused her gender i'll say it right here. and it's not even 6:30 in the morning. >> i opened a can of worms there. >> like you know -- very predominant guy out there who gave her money and protected her and still defending her to this date and -- in light of everything that fec has even said so you have a male figure who is delusional about reality protecting elizabeth holmes. it is interesting. that is men -- >> that company -- read the book that company was a fraud, and they're paying price because of regulator. >> how much ground did we cover? elon musk -- taking us back to twitter and you've got the potential. the probe, not potential by the sec and what he has taken shareholders through and the fact that he can't let the phone jon: al

this has been intense because of elizabeth holmes at theranos is under investigation.under investigation this tesla inquiry is no joke. david: those stories are interconnected. it is being created in silicon valley. not have people who do a lot of experience dealing with adversity or public companies, you have people make mistakes. we will see where this investigation goes but as the story has gone on it feels less and less like it is fine, he did exactly what he should have done. david: right now from what we see it would be hard to say he handled is fine. kid. elon musk is not a if mark zuckerberg did that, ok but he is 42. the third story, turkey. it is not bad for everybody. some people are making out like bandits. jason: this is just a matter of currency differential. what we saw was mostly foreign people who have a lot of foreign currency were able to go on a shopping spree this weekend in istanbul. david: 25% off. jason: 25% off everything. is $3700hanel bag versus 2600, do i care? there was not a turkish person to be found. they are all asian. ofon: i love the

. >> a young woman named elizabeth holmes dropped out of stanford university when she was 19 years old in the middle of her sophomore year because she had a vision for a technology that she wanted to create. she wanted to be a successful entrepreneur, follow -- she very much wanted to follow in the footsteps of steve jobs, whom she admired. the original vision was for a wristband that would have these microneedles that would draw minute amounts of blood from your wrist and diagnose you with whatever ail you and simultaneously inject you with the appropriate drug and cure you. [laughter] >> that's ambitious. >> she called it the therapatch. in her early pitches to investors, there was a die frame that showed the patch. -- diagram. actually, it was more science fiction than reality, and she and her co-founder realized that after a few months and pivoted to something that was more inspired by the portable glucose monitors that diabetes patients use to monitor their blood sugar. except elizabeth wanted her portable device to be able to do every blood test from -- >> and how many is that, a