Is Elizabeth Holmes’ guilty verdict a wake-up call for startups?

After a long trial, former Theranos CEO Elizabeth Holmes has been found guilty of four out of the 11 charges brought against her, including three counts of wire fraud and conspiracy to defraud investors in her now-defunct blood testing company. The verdict caps a journey filled with both promises and disappointments, one that ultimately led to the downfall of what could have been one of the most successful companies, and entrepreneurs, to come out of Silicon Valley in over a decade.

While the verdict is a milestone in holding startup founders accountable for false promises, it actually further complicates the difference between fraud and the “fake it til you make it” mindset of many startups. The Verge’s deputy editor Liz Lopatto breaks down the outcome of the trial and what to expect in the months to come. With Holmes’ business partner, Sunny Balwani, getting ready to stand trial later this month, the story is far from over.