Book · How it goes wrong
Bad Blood
John Carreyrou · 2018
The definitive account of Theranos, by the journalist whose reporting brought it down — and the best diligence education on this list.
Why it is here
Carreyrou broke the Theranos story and this is the full account: how the technology was misrepresented, how employees who raised concerns were treated, and how an extraordinary roster of investors and board members failed to check claims that were checkable.
For an angel it is a working manual disguised as a thriller. Almost every warning sign it describes is something an investor could have surfaced with an expert call and a refusal to accept trade-secret objections to independent validation. Our Theranos post-mortem lists them.
It is also unusually good on why intelligent people did not act. Social proof, fear of missing out, and the sheer awkwardness of being the person asking sceptical questions in a room full of enthusiasts are all documented, and all of them will apply to you.
Read it if
You invest, or might invest, in anything with a technical claim you cannot personally evaluate.
Skip it if
Nobody. This is the one book on the list we would push hardest.
What it explains