When I first read of her proposals, I realized immediately that this 'technology' was a fraud. And I'm not that smart.
Indeed. Holmes was selling a fraud, and she knew it.
I’m not entirely certain that she knew it was a fraud. She dropped out of college at 19 to pursue this start up. Her background was entirely insufficient for her to know it understand the science behind her idea. No doubt she is extremely bright but at 19, even and maybe especially very bright 19 year olds lack the maturity, in part because they lack experience but also because they lack brain maturity that allows for more sound judgement. It is very likely that Holmes was very bright, very easily flattered, naive, arrogant and totally 19. I can see how she could have become very easily caught up in this heady combination of a professor encouraging her and telling her how brilliant she was and how rich she would become. In the beginning, I don’t think she knew it was a fraud or a con. And I think as time went on, she didn’t know how to dial things back or deal with the pressure, including pressure from the man who was sleeping with her and who may or may not have been controlling her to a great extent. Yes, legally she was an adult but her brain wasn’t.