Sniffed Links - Bad Blood

Bad Blood is the story of the Theranos scandal and it’s founder, Elizabeth Holmes. With a movie in the works starring Jennifer Lawrence I’m sure you will hear more about it in the future. The book is a must read for any investor. The entire time I was reading the great book I kept asking myself how could so many high profile people be fooled? The list is quite impressive. Henry Kissinger, the Obamas, the Clintons, the Walton (Wal-Mart) family, the Cox (cable) family, Robert Murdoch (News Corp), Bob Kraft (Patriots)…the list goes on and on. As the author points out, the fear of missing out drove most of these investors. They were duped and they let their fears and emotions drive their investment decision.

What you don’t see on the list is many professional investors. Where are the healthcare VCs? Where are the big Silicon Valley early investors? There were few. Why? Because they actually conduct due diligence on their investments. That’s not to say every investment they make works out but they are rarely deceived.

I highly suggest the book but the first link below is a podcast interview with the author.

John Carreyrou On Breaking Open the Theranos Scandal

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