The Dropout Season 1 Episode 4 Old White Men

The Dropout is a compelling six-part limited series that details the rise and fall of Elizabeth Holmes, the unrivaled Stanford dropout who founded Theranos, the multi-billion dollar healthcare company that ultimately led to her downfall.

In season 1, episode 4 titled "Old White Men," viewers are taken on a deep-dive into how Holmes was able to convince a number of seasoned corporate executives, many of whom are described as "old white men," to invest millions of dollars into her company, despite the fact that they did not have a thorough understanding of her technology, and had seemingly not conducted due diligence into Theranos' operations.

The episode focuses primarily on two of those investors: former Secretary of State George Schultz and former Secretary of Defense William Perry, both of whom were recruited onto the Theranos board of directors in 2011. In interviews, Schultz and Perry credit Holmes with being a visionary and describe her as "brilliant" and someone who could change the world.

The episode also introduces viewers to a few of the men who had invested in Theranos but later became disillusioned with Holmes and the company, including venture capitalist Nick Heyman and former Walgreens executive Tim Theriault. Heyman, who initially invested $1 million with Holmes, describes her pitch as having a "religious fervor" and says that he felt he was "part of a secret society of believers." However, Heyman says that as he began to ask more questions about the technology and its viability, he was met with resistance from Holmes and her team.

Theriault describes a similar experience, stating that he felt uneasy about the lack of transparency at Theranos, and that his concerns were ultimately brushed aside by Holmes and her team. "It didn't make sense," he says. "How could [Theranos] do what they said they were going to do without any evidence that they could?"

Viewers are also introduced to Richard Kovacevich, the former CEO of Wells Fargo, who was initially a staunch supporter of Holmes and Theranos. Kovacevich says that he believed in Holmes' vision and was impressed by her innovation, but that he began to have doubts as reports started to emerge about problems at the company. "There were too many red flags," he says. "I lost confidence."

Despite the concerns raised by investors and former employees, Holmes continued to receive funding for Theranos, eventually amassing a valuation of more than $9 billion. The episode paints a picture of a CEO who was able to spin a compelling narrative about her product and her own abilities, convincing investors to overlook red flags and buy into her vision.

As the episode draws to a close, viewers are left with the sense that the "old white men" who invested in Theranos did so not because they believed in the technology, but because they believed in Elizabeth Holmes and her apparent ability to change the world. The episode sets the stage for the next two installments of the series, which will delve deeper into the problems at Theranos and Holmes' eventual downfall.

Overall, season 1 episode 4 of The Dropout is a gripping exploration of how a charismatic CEO was able to charm her way into the hearts of some of the most seasoned corporate executives in the world, ultimately leading to a multi-billion dollar scandal.