Kate McKinnon is set to play disgraced entrepreneur and accused con-artist Elizabeth Holmes in Hulu’s new 6-10 episode series “The Dropout” which charts the fast rise and faster fall of the world’s youngest self-made female billionaire.
Based on the podcast of the same name, the story follows 19-year-old college dropout Holmes who founded Theranos, a privately held health technology corporation which raised $700 million from venture capitalists and private investors and was eventually valued at a massive $10 billion.
Holmes sold herself as doing for health tech what Steve Jobs had done for computing, and the breakthrough was Edison – an affordable device that could run many medical tests from a simple finger prick’s worth of blood, in the process potentially changing the face of healthcare and revolutionising the $70 billion U.S. blood-testing market.
The problem was it was a lie – Holmes and her company fabricated results and constantly cut corners, potentially putting lives in danger. Eventually, people began to catch on and she and the company were ruined – Holmes personal net worth dropped from $4.5 billion to virtually nothing in the space of a few months and last year she and others were charged with massive fraud by the SEC.
The project is separate from the planned film adaptation of the book “Bad Blood” which “Vice” helmer Adam McKay is attached to direct and Jennifer Lawrence is set to star as Holmes, though that project has stalled recently.