MBA1158 Must Read: Bad Blood by John Carreyrou
What can we learn from failure? And not just any failure — total, massive, beyond-epic, multi-billion-dollar failure? In this week’s Must-Read book for entrepreneurs, we find out. Bad Blood by John Carreyrou is many things: an engrossing page-turner, an exemplary piece of investigative journalism, and a huge, devastating lesson in how not to launch a product. It’s the true story of Theranos, a startup with a one-time valuation of 9 billion-with-a-”b” dollars that ultimately crashed, burned, and left all involved reeling (and some facing prison time). Theranos executives claimed that their technology could run hundreds of medical tests with a single drop of blood. The only problem? It didn’t work. At all. But the pressure to succeed and produce a return on some massive investments overcame any sense of responsible R&D —- or common business sense. Find out what lessons we small business people can take from the missteps of the big boys. Click Play!