The Elizabeth Holmes fiasco also reminds me of Nick Leeson and how he became the scapegoat of the fall of Barings Bank.
I’ve watched the movie Rogue Trader, and have read Nick Leeson’s autobiography many times.
I find both fiascos eerily similar in that there is one villain in the narrative on which all the blame is thrown onto. While there was a obviously a lack of proper corporate governance and investors closed an eye, they have often been portrayed by the media as the victims and never contributors to the failure of the business.
In fact, I read that Therano’s board of directors included people like Henry Kissinger and James Mattis. What were these guys doing on the board? Were they not responsible for anything that happened to the company at all? Or were they just there for show?