Tyler Shultz reacts to Elizabeth Holmes verdict

welcome back to cbs mornings we're going to take a closer look at the case against elizabeth holmes a jury convicted the theranos founder of four counts of defrauding investors yesterday one of her former employees was the first to blow the whistle about the problems at the company tyler schultz says he quit after holmes and her partner sonny balwani ignored his complaints about falsified research he then shared his concerns with the state regulator and then he went to the wall street journal tyler by the way is the grandson of former u.s secretary of state george schultz who was on the board of theranos first on cbs mornings tyler schultz joins us to respond to the holmes verdict tyler good morning we're really glad to talk to you this morning first let's start with the verdict it was a mixed verdict did the jury get it right do you think uh i think on at least four counts they did get it right yeah what do you mean the four counts were again so she was voting the investors yeah yeah so there are four counts that they uh had a guilty verdict for defrauding investors but there were another four counts that were for defrauding patients um and those four she was found not guilty um and then there were an additional three others where there was no verdict that was reached um but for me one was enough so i'll take four what when was that tyler i have to say you seem in a very good mood this morning i was wondering how you were going to feel because listen a lot of people are applauding what you did you were a 24 23 year old who had worked at the company for less than a year you realize the emperor had no clothes you raised the issue with elizabeth holmes with mr balwani with your grandfather with your mother there were fractures in the family you were told to stand down and you did not why did you keep going when you were up against so much power yeah i mean it was tough there were a lot of moments when it was really really tough to keep going but i am just extremely stubborn and i knew i was right and i was not going to lay down and say that i was wrong when i knew with a hundred percent certainty that i was right why do you think that they believed her over you someone who was on site there at the company and could see what was going on why do you think people even closest to you did not believe you well elizabeth is a very very charismatic person when she speaks to you she makes you feel like you are the most important person in her world in that moment and she almost has this you know reality distortion field around her that people could just get sucked into even i when i was working with the product every single day seeing it fail time after time after time i could go have a five minute conversation with elizabeth and feel like i was saving the world again um it's it's really a hard phenomenon to explain but she sucked a lot of people in into that um that's that's that's well expressed i think our viewers should know that this is not just about investors there were people who got bad results from from this product a woman who thought she had hiv another woman who thought she uh what might be miscarrying a baby so the stakes were huge for patients as well from your perspective from where you're sitting i'm really curious about the personal side of this this is your grandfather george schultz a titan of the 20th century former secretary of state your relationship with him got really rocky at one point you were communicating only through lawyers what kind of cost did you face as an individual as a grandson and taking on this fight yeah um that was extremely tough you know this whole saga has taken a financial emotional end tolls on my relationships and my gran the toll that i took on my grandfather's relationship was was probably the worst um i mean it it was it's tough to explain um i had a few very honest conversations with him we uh ultimately did reconcile he never quite apologized but he at least um admitted that i was right about what i saw and he congratulated me for doing the right thing and actually in one of my last conversations with him he told me a story about how he got elizabeth invited during fleet week in san francisco to go give a speech to united states sailors united states navy sailors and he said with tears in her eyes she told the room about how she was so honored and humbled that her life's work would be saving the lives of united states servicemen and women and he said he just could not believe that anybody could get in front of these people who are willing to put their lives on the line for our country and lie directly to their face as convincingly as she lied yeah a lot of people i feel like him telling me that story yeah he's telling he's saying tyler you were right yeah yeah i feel like him telling me that story was him acknowledging that i was right and he finally was starting to see through her lies tyler you are who you are because you're willing to use your voice um and you were on the list of witnesses who would possibly take the stand did you want to and if you did take the stand what would you have said um you know i it was kind of nice not having to go testify i didn't have to prepare i also i would have been happy to testify to get up there and have the opportunity to tell my story under oath um what i would have said i don't think we have enough time for that but i would have said that you know that i could have gone into into detail about how the technology didn't work in the various ways the technology didn't work i would have explained my conversations that i had with my managers with a vice president with a ceo with a board member with regulators with journalists you know i had to talk to a lot of layers before anything really started happening and so if i were on the stand i probably would have gone through all those layers tyler you want do you want jail time for elizabeth holmes um you know whether elizabeth holmes spends time in prison or not um doesn't really affect my life um i'm happy that she was um found guilty for for these crimes and i feel like i got my vindication from that and i feel good about that as far as the jail time goes um you know whether it's 1 5 10 i i i don't really care as much i'm just happy that she was found guilty i feel like i won i'm vindicated yeah i'm glad you feel i'm glad you feel vindicated it's a very brave thing you did tyler very well you risked your professional and personal life and i commend you for that tyler schultz thank you so much for joining us

Channel: CBS Mornings

Views: 448,042

Keywords: video, cbs, news, tyler shultz, elizabeth holmes, verdict, guilty, fraud, charges, theranos, founder, investors, federal court, former employee, report, reaction

Id: DCsB3Pv-J1Y

Length: 7min 2sec (422 seconds)

Published: Tue Jan 04 2022