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When you read the book about Theranos it’s mind boggling how unwilling these bigshot investors and board members are to question their own decisions even while
by Ididntdothis 7y ago
When you read the book about Theranos it’s mind boggling how unwilling these bigshot investors and board members are to question their own decisions even while seeing very clear warning signals. Instead they shoot the messenger. I remember similar stuff happening during Enron or the housing bubble in 2008. There were plenty of people with real concerns backed up by concrete data but they just got ignored and ridiculed. And then later “no one saw it coming”.
- mrnobody_67 7y agoAnybody counting on investors or startup boards to exercise proper oversight of management is dreaming. Short of the CEO being accused of sexual harassment or assault by an employee or being caught red-handed stealing from the company, they will keep the job -- especially if the company is growing revenue and continuing to raise money at ever high valuations that VCs/board members can use to mark-up their stock, take back to LPs and raise new funds to grow their assets under management that they can collect 2-3% on every year.
- big_chungus 7y ago> Short of the CEO being accused of sexual harassment or assault by an employee or being caught red-handed stealing from the company I would hope being merely accused of sexual harassment would have zero impact until it can be proved.