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My First Million · Startups & Venture · October 2026
The hosts wrap up their discussion of Elizabeth Holmes. They agree she knew what she was doing but likely told herself the ends justified the means.
The means justified the ends.
Yes, that's how I think she told herself that story. It
wasn't, it's kind of like the line between the line between crime and hustle is thinner than people think in the startup world.
Yeah. And she told herself that what she was doing was hustle and that's what it was going to take to build this generational company and not fraud.
I'm with you on that. I think that she knew what was going on, meaning she wasn't out of the loop. It wasn't being done behind her back by other people. She knew what was going on and was complicit in it. She didn't see it as fraud or illegal or harming anybody. She saw it as being determined…
But it was fraud. She just didn't think of it in that context. Correct. In my opinion.