Elizabeth Holmes' Iconic 2014 Photo: Photographer Ethan Pines Recalls the Shoot That Defined Theranos

The famous portrait of Elizabeth Holmes, with her intense stare and black turtleneck, has become synonymous with the rise and fall of Theranos. Photographer Ethan Pines, who captured the image in 2014 for Forbes, recently reflected on how the photo came to be. Pines says Holmes made a simple request that shaped the entire session: she wanted to look like Steve Jobs. That directive led to the now-iconic style—dark clothing, minimal setting, and a commanding presence. At the time, Holmes was at the peak of her fame, hailed as the world’s youngest self-made female billionaire. But the photo later took on a darker meaning as Theranos unraveled. Pines notes he had no idea the company’s technology was fraudulent; he was simply doing his job. Today, the image stands as a cautionary symbol of Silicon Valley hype. It’s a reminder that even the most carefully crafted public image can hide a very different reality.