Add Theranos's governance issues to the list, too. Most Valley startups make do with non-famous directors who hold VC/angel stakes -- and are prone to riding ma

Add Theranos's governance issues to the list, too. Most Valley startups make do with non-famous directors who hold VC/angel stakes -- and are prone to riding management hard about real or imagined problems with the business. That tension is part of the deal; it's pretty inescapable. Theranos created this alternative reality with globally famous directors in their 80s and 90s, who offered instant prestige, without being the types that would ever challenge the CEO's grasp of business details. Wow, it must a joy ride to have Dr. Kissinger on your board. Or maybe not. When Theranos's governance proved unreal, that became sweet vindication for every Valley CEO/CFO who ever stayed up past 1 a.m. getting every last number in shape for a hectoring, detail-obsessed board meeting the next day.