Elizabeth Holmes’ Lesson for Target-Date Funds
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In 2003, at age 19, Elizabeth Holmes founded Theranos, and it became a $10 billion company by 2014. But it was a fraud. Aspects of target date funds mirror the Holmes story.
I recommend the Dropout series on Hulu. It tells the story of Elizabeth Holmes’s rise to fame and fall to disgrace.
The Elizabeth Holmes story has lessons about target date funds. Are you ready?
The Elizabeth Holmes-Theranos story
Elizabeth Holmes dropped out of Stanford at age 19 to follow her dream of becoming an entrepreneur, hence the Dropout title. In 2003, she founded Theranos (the god of blood in ancient Greek mythology) to develop breakthrough blood-testing equipment that would run a range of tests on a small amount of blood, extracted with a pinprick rather than a needle.