Episode 8 of "The Dropout" unfolds in a distant future, commencing with Elizabeth's interview, reflecting on her textual exchanges with Sunny, following the revelation of John Carreyrou's explosive article in The Wall Street Journal. The scene shifts to the immediate aftermath of the Journal's expose on Theranos' deceit. A frantic Elizabeth frantically calls each board member, crying foul over alleged sexism, desperately trying to convince them of the article's falsities.
Overhearing Sunny discussing his "alternatives" on the phone, Elizabeth fears he's consulting a lawyer, plotting to turn against her. Meanwhile, Carreyrou and the Wall Street Journal brace themselves for a possible defamation lawsuit. Carreyrou recognizes Elizabeth's stalling tactics, knowing that unless he writes something new, the scandal will fade from public memory.
Tyler confides in his grandfather, revealing himself as Carreyrou's informant. He confesses his intention to go public for a future article. Schultz reacts with fury, and Tyler begins to suspect that Schultz may have been privy to Theranos' shady dealings.
The former Theranos intern urges Schultz that the only way to salvage their relationship is if he steps up as the first board member to condemn the company. Schultz dismisses him with contempt.
Erika Cheung, who had previously chosen to remain anonymous in the email she and Tyler crafted in episode 6, can no longer contain her conscience. She reports Theranos to CMS, a regulatory agency empowered to shut down the company's labs.
As the CMS inspector arrives to inspect the labs, Sunny attempts but fails to deter him. In February 2016, CMS issues a report, ordering a two-year halt to all Theranos lab operations. Carreyrou reads the report and immediately sets to work on a new article.
Later, Carreyrou calls Erika to share the news, telling her, "You saved people's lives." Facing the prospect of losing everything, Elizabeth and Sunny begin scheming to blame each other for the company's failures. Each threatens the other, cloaking their words in false declarations of love and devotion.
When Elizabeth discovers for sure that Sunny has been consulting with a lawyer, she assumes a façade of innocence. She inquiries if he has committed any illegal acts without her knowledge. He sees through her ruse, realizing she intends to pretend ignorance of Theranos' crimes and pin the blame on him. He explodes in anger, recalling the six years he dedicated to helping her realize her dreams.
Elizabeth adopts a saccharine tone, claiming she is "so grateful." She reminisces about their early days, how young she was when they met, and how he taught her everything she knows. Sunny recognizes the veiled threat and vows to stand by her until the end. But after a long silence, he poses a question, "But where will you live?" Their home is registered under his name.
The following morning, Sunny jolted awake to a harsh realization: Elizabeth had snuck away to an early morning board meeting, leaving him in the dark. She had betrayed him, informing the board of his decision to step down from the company's helm. Fury erupted, and he shouted accusations at her for not allowing him to depart with dignity. Unperturbed, she gathered her things, preparing to vacate his home. Her icy demeanor stripped away any illusion of affection for him or their relationship.
"You're a phantom," he called out as she departed. "Void of emotions." He issued a stark warning: "Every soul you touch will flee."
Prior to Elizabeth's live television interview, her parents and legal counsel advised her to confess Sunny's mistakes and offer a roadmap to redemption. Linda Tanner, Theranos' legal adviser, stressed that the public wanted to see genuine remorse and humiliation from her. Elizabeth complied, though her apology faltered under the interviewer's relentless scrutiny. She repeated that the events were "catastrophic" but insisted that no health had been jeopardized.
At home, George Schultz's countenance darkened as he realized the folly of his support for this woman. After the interview, Elizabeth's mother expressed her anger, prompting Elizabeth to recall how her mother had dismissed her college rape as a mere incident to be forgotten. "If forgetting certain things is your choice, is that not a form of deception?" she retorted.
Schultz confessed to Carreyrou that he had wrongly smeared his own grandson. He refused to be a source against Theranos but issued a public statement acknowledging Tyler's integrity. He lamented his blindness to the truth, musing, "Isn't it astounding how far one can go when convinced of their righteousness?"
A jarring shift in scenes revealed Elizabeth in a blissful state, nestled in bed with a youthful man who affectionately called her "Lizzy."
Back in the desolate Theranos office, Linda Tanner confronted Elizabeth about the need for a bankruptcy plan. Her anger was palpable; she had been deceived by Elizabeth and Sunny. Yet, Elizabeth seemed unperturbed. She boasted of her newfound romance with a younger man, Billy, and defended herself against Linda's accusations, claiming that failure was not a crime.
Linda pleaded with her, reminding her that she had harmed people. She acknowledged that Elizabeth had likely suffered hurt as well, but that did not justify her actions. "You hurt people!" she shouted after Elizabeth, who simply walked away unperturbed.
The season finale of "The Dropout" concluded with Elizabeth Holmes standing alone, her encounter with Linda Tanner still fresh. She screamed into the void, her voice echoing in the silence. A car approached, and the driver inquired, "Are you Lizzy?" She responded with a bright smile and a high-pitched voice, "Hi, yeah, I'm Lizzy. Hello." This scenario could be interpreted as Elizabeth finally seeking herself after being ensnared in a corrupt system. However, the ease with which she reverted to a cheerful demeanor after her outburst suggests that the show's writers are not inclined to offer her absolution. At the series' conclusion, Elizabeth Holmes remained entrenched in her facade, manipulating both others and herself.
