Bad Blood: Secrets and Lies in a Silicon Valley Startup
BOOK Written by John Carreyrou
Here are ten lessons from the book:
This book is a gripping account of the rise and fall of Theranos, a biotech company that promised revolutionary blood-testing technology but ultimately engaged in massive deception.
Question Extraordinary Claims: When a company makes extraordinary claims or promises revolutionary breakthroughs, it's essential to scrutinize those claims carefully and seek evidence.
LESSON 1
Due Diligence is Critical: Investors, partners, and the media should conduct thorough due diligence before endorsing or investing in a startup. Don't rely solely on hype and reputation.
LESSON 2
Ethics Trump Ambition: Upholding ethical standards should always take precedence over-achieving ambitious goals or financial success and reputation.
LESSON 3
Whistleblowers Play a Vital Role: Whistleblowers who expose wrongdoing within organizations are essential for holding fraudulent or unethical companies accountable.
LESSON 4
Transparency is Key: Companies should be transparent about their operations, technologies, and financial health. Lack of transparency can be a red flag.
LESSON 5
Regulatory Oversight Matters: Effective regulatory oversight is crucial to prevent companies from endangering public health or engaging in deceptive practices.
LESSON 6
Trust but Verify: Trust is important, but it should be accompanied by rigorous verification of claims, especially in high-stakes industries like healthcare.
LESSON 7
Don't Ignore Red Flags: When red flags emerge, whether in the form of internal concerns or external criticisms, they should not be ignored or dismissed without investigation.
LESSON 8
Cult-Like Corporate Culture: Beware of corporate cultures that discourage dissent and criticism. Such environments can enable unethical behavior to persist.
LESSON 9
Accountability and Consequences: Hold individuals and companies accountable for their actions. Consequences for unethical or illegal behavior are essential to deter future misconduct..