The Great Fail

Theranos’ groundbreaking proprietary technology promised to revolutionize healthcare with just a drop of blood from a finger prick. The company, led by its founder Elizabeth Holmes, would raise over $900 million and become a darling in the tech community. That is until a Wall Street Journal exposé revealed a scandal that astounded and paralyzed the entire VC and medical world, unraveling the $9 billion organization. Justin Maxwell, a former employee and one of the lead designers speaks about what makes an organization toxic and why the corporate culture within Theranos was the precise environment that allowed for the cover-up of secrecy, paranoia, and deception.Thank you to our partners at AdvertiseCast.https://www.advertisecast.com/TheGreatFailAnd special thanks to our sponsor this week:Mint Mobile Learn more about your ad choices. Visit megaphone.fm/adchoices Hosted on Acast. See acast.com/privacy for more information.

When Borders was founded in 1971, it was one of the most pioneering companies in the book business quickly becoming one of the most dominant players in the space. For 40 years, it was known as one of the retail behemoths, but then came the digital age…Border’s last CEO Mike Edwards discusses what we all can learn about digital transformation, the evolution of businesses, and lessons from managing a Company on the brink of failure.Thank you to our partners at AdvertiseCast.https://www.advertisecast.com/TheGreatFailAnd special thanks to our sponsor this week:Mint Mobile Learn more about your ad choices. Visit megaphone.fm/adchoices Hosted on Acast. See acast.com/privacy for more information.

McDonald’s, the world’s largest restaurant company, made a shocking announcement in late 2019 when it abruptly removed its CEO Steve Easterbrook.What would be uncovered would include individual and class-action lawsuits alleging attempted rape, sexual harassment, and blurred lines spurred by the #MeToo movement that would rock the corporate world and dethrone what everyone thought was the golden boy of the golden arches.Thank you to our partners at AdvertiseCast.https://www.advertisecast.com/TheGreatFailAnd special thanks to our sponsor this week:Work SocialMint MobilePing Identity Learn more about your ad choices. Visit megaphone.fm/adchoices Hosted on Acast. See acast.com/privacy for more information.

In January 2021, the world watched as Reddit traders faced off with Wall Street elites in a trading mania over GameStop shares. Matei Psatta, one of the traders of subreddit WallStreetBets, joins us this week to comment on what this means and why the financial markets may never be the same.Thank you to our partners at AdvertiseCast.https://www.advertisecast.com/TheGreatFailAnd special thanks to our sponsor this week:Work Social and Skillshare Learn more about your ad choices. Visit megaphone.fm/adchoices Hosted on Acast. See acast.com/privacy for more information.

Did the 2020 global pandemic kill off Hertz? The Company’s stock price which at one time went as high as $150/share, had fallen to as low as $0.40 cents/share after it declared bankruptcy in May of 2020. At first glance it seemed like the lockdown and impact on travel demand ultimately swallowed up this iconic 102 year-old brand. However, when you peel back the layers and study Hertz’s history, you’d discover that many people over the years were holding shovels and digging the Company’s grave. Check out this week’s Episode 26, Hertz So Bad.Thank you to this week’s sponsors and to our partners at AdvertiseCast.https://www.advertisecast.com/TheGreatFailWork Social Learn more about your ad choices. Visit megaphone.fm/adchoices Hosted on Acast. See acast.com/privacy for more information.

Despite a global pandemic unraveling in 2020, the executives of Europe’s largest fintech company Wirecard found themselves in precarious positions. The Company’s CEO, Markus Braun, was arrested for masterminding an intricate embezzlement scandal, a key executive was reported dead in the Philippines, and the COO became a wanted fugitive. Hear how the “Enron of Germany” went from being a national pride to a national shame on Episode 25 of The Great Fail.Thank you to this week’s sponsors and to our partners at AdvertiseCast.https://www.advertisecast.com/search/The%20Great%20FailPolicyGeniusnordVPNSkillshare Learn more about your ad choices. Visit megaphone.fm/adchoices Hosted on Acast. See acast.com/privacy for more information.

When Milli Vanilli’s Fab Morvan and Rob Pilatus were first introduced to the world, they rose to fame instantly with their god-like bodies, model good looks and ability to rock the stage. Their first song Girl You Know It’s True came out in March of 1989, and altogether the band had 5 singles that entered the top five of the Billboard Hot 100, 3 of which went straight to number one. But no one would ever imagine that their legacy would end up in a tragedy. Check out Episode 24 of The Great Fail.Thank you to this week’s sponsors and to our partners at AdvertiseCast.https://www.advertisecast.com/search/The%20Great%20FailSkillShareGrammarlyBetterHelp Learn more about your ad choices. Visit megaphone.fm/adchoices Hosted on Acast. See acast.com/privacy for more information.

At its peak, SkyMall was a staple of airline travel with an annual circulation of approximately 20 million copies of its catalog found in the seat pockets of every major airline in the United States. Known for its whimsical and unique merchandise, it quickly won the hearts of many travelers and by 2009 had generated approximately $80.5 million in revenue, making it one of the largest e-commerce websites in the world. How did a fun, innovative company with a monopoly on its market become an internet after-thought by 2015? Find out on Episode 23 of The Great Fail.Thank you to this week's sponsors and to our partners at AdvertiseCast.https://www.advertisecast.com/search/The%20Great%20FailPolicyGeniusBetterHelpBitTrust IRA Learn more about your ad choices. Visit megaphone.fm/adchoices Hosted on Acast. See acast.com/privacy for more information.

Quibi, a new streaming service focused on premium short form content, was launched in April 2020 during a worldwide pandemic. Between Co-founders Jeffrey Katzenberg, former Chairman of Walt Disney Studios and Meg Whitman, former CEO of HP, they had almost $2 billion in funding, the support of major Hollywood studios and tons of A-list celebrity clout. But even with all of that, Quibi was dead on arrival, folding just after six months. Get the dirt on Episode 22 of The Great Fail.Thank you to this week's sponsors and to our partners at AdvertiseCast.https://www.advertisecast.com/search/The%20Great%20FailBetterHelpGrammarlyBitTrust IRA Learn more about your ad choices. Visit megaphone.fm/adchoices Hosted on Acast. See acast.com/privacy for more information.

The rise and fall of the iconic Motorola was on so many levels, heart-wrenching. Once pioneers of all things radio, Motorola paved the way for set-top boxes, modems, DVRs, semiconductors and then after that, mobile phones. In 2004, the unveiling of their Razr created a media frenzy, selling more phones than any other mobile handsets at that time. So how was this remarkable, trailblazing brand condemned to a slow death that eventually bled decay across its entire organization? Listen to Episode 21 of The Great Fail to find out.Tune in on AdvertiseCast: https://www.advertisecast.com/TheGreatFailSpecial thanks to our sponsors for this episode:PolicygeniusBetterHelp Learn more about your ad choices. Visit megaphone.fm/adchoices Hosted on Acast. See acast.com/privacy for more information.

Welcome to a Special 20th Episode Edition. On September 13, 1997, 6 men pulled off the biggest cash heist in American history. In less than 30 minutes, they made their way into the Dunbar Armored facility and walked away with $18.9 million, leaving behind no evidence or clues. For years it seemed like the cleanest job anyone could have hoped for, and the case began to turn cold. But then one man’s misstep ruined what could've been the perfect crime. Find out how on this week’s episode of The Great Fail.Tune in on AdvertiseCast: https://www.advertisecast.com/TheGreatFail Learn more about your ad choices. Visit megaphone.fm/adchoices Hosted on Acast. See acast.com/privacy for more information.

When Echo Fox burst into the world of eSports, it was a glowing beacon – a shining example of what the burgeoning world of competitive gaming could look like. It was the first celebrity-driven team, managed by pro athletes that understood the parallels between sports and gaming. But that promise soon vanished into thin air, consumed by lawsuits, restraining orders, death threats and drug-fueled parties. Get the play-by-play on Episode 19 of The Great Fail.Tune in on AdvertiseCast: https://www.advertisecast.com/TheGreatFail Learn more about your ad choices. Visit megaphone.fm/adchoices Hosted on Acast. See acast.com/privacy for more information.

When Color Labs launched their highly anticipated photo-sharing app Color in 2011, it was one of the most fervently hyped startups in the venture capital world. Co-Founder & CEO Bill Nguyen was equipped with everything you could ask for: extremely deep pockets, an all-star executive team and the backing of some very influential and wealthy people. But even with all of that, Color crashed and burned before it could even get off the ground. Find out how it all went so wrong on Episode 18 of The Great Fail.Tune in on AdvertiseCast: https://www.advertisecast.com/TheGreatFail Learn more about your ad choices. Visit megaphone.fm/adchoices Hosted on Acast. See acast.com/privacy for more information.

Heralded as the “Starbucks of China,” Luckin Coffee burst onto the scene in 2018 when it opened its first location in Beijing. The Company achieved unicorn status within a year and soon became a Wall Street darling, doubling its valuation to $12 billion just 8 months after it’s IPO. The Company had been growing at a blinding pace and had just become the largest coffee chain in China when the empire began to topple…To hear the full story tune in to Episode 17 on The Great Fail.Tune in on AdvertiseCast: https://www.advertisecast.com/TheGreatFail Learn more about your ad choices. Visit megaphone.fm/adchoices Hosted on Acast. See acast.com/privacy for more information.

People tend to think that Netflix killed Blockbuster – but that's not true. Blockbuster's demise was actually caused by something far more self-destructive, and almost a decade after the fall of this movie rental giant, there are still misconceptions about what really occurred. Get the scoop on how Blockbuster was taken down, here on Episode 16 of The Great Fail.Tune in on AdvertiseCast: https://www.advertisecast.com/TheGreatFail Learn more about your ad choices. Visit megaphone.fm/adchoices Hosted on Acast. See acast.com/privacy for more information.

American Apparel was, at one time, the fastest retail rollout in American history boasting more than 280 stores in the world’s hippest neighborhoods. The man behind the brand, Dov Charney, pioneered the radical movement for "ethically made, sweatshop free" clothing and received the most prestigious accolades. So how did this brand end in a series of disgraceful events that would send it spiraling downwards from the upper echelons of the fashion world? Get it here at Episode 15 of The Great Fail.Tune in on AdvertiseCast: https://www.advertisecast.com/TheGreatFail Learn more about your ad choices. Visit megaphone.fm/adchoices Hosted on Acast. See acast.com/privacy for more information.

In 1993, Coors Brewing Company launched one of the most unique, innovative beverages of all time. Zima, a clear malt lightly carbonated alcoholic drink sold an astounding 1.3 million barrels after going national in 1994 and centered around the mystique of its infamous tagline, “zomething different.” But even with all the success, a series of calamitous missteps would have it getting iced out of the market in just a few short years. Get the scoop on Episode 14 of The Great Fail.Tune in on AdvertiseCast: https://www.advertisecast.com/TheGreatFail Learn more about your ad choices. Visit megaphone.fm/adchoices Hosted on Acast. See acast.com/privacy for more information.

There was a time when adults and kids alike agreed that Toys R’ Us was a place of pure magic. It was the most exciting thing for a child- an experience, a destination, a privilege...and everyone wanted to be a Toys R’ Us kid. The Company went public in 1978 and transformed the toy selling business into a $12 billion industry by 1990. Today, though, the famed brand is little more than a nostalgic memory. How did things go so wrong? Find out on Episode 13 of The Great Fail.Tune in on AdvertiseCast: https://www.advertisecast.com/TheGreatFail Learn more about your ad choices. Visit megaphone.fm/adchoices Hosted on Acast. See acast.com/privacy for more information.

Once the world’s most famous airline, Pan Am was a company that created magic in the sky. The glamour and excitement of flying one of their routes was an experience cultivated by a world-class crew: experienced engineers, sophisticated stewardesses and the dashing former fighter pilots at the controls. For a while, it seemed like Pan Am was doing everything right. So how did it vanish, so abruptly, in December of 1991? Get the behind-the-scenes story on Episode 12 of The Great Fail.Tune in on AdvertiseCast: https://www.advertisecast.com/TheGreatFail Learn more about your ad choices. Visit megaphone.fm/adchoices Hosted on Acast. See acast.com/privacy for more information.

Atari kick-started the home video game console movement back in the 1970s and 80’s and paved the way for today's gaming industry when it launched the trailblazing Atari 2600, along with several blockbuster games. It was a pop culture icon and a galvanizing force within the industry. So how did it find itself bankrupt and in a New Mexico dumpsite (literally) by 1983? Find out on episode 11 on The Great Fail.Tune in on AdvertiseCast: https://www.advertisecast.com/TheGreatFail Learn more about your ad choices. Visit megaphone.fm/adchoices Hosted on Acast. See acast.com/privacy for more information.

For over 4 decades, Tower Records was a pioneer in the music industry and the bedrock of record store culture. It was run by rebels and outsiders, where founder Russ Solomon was revered and idolized. Tower would become the mecca for music fans creating a generation that lived by their diehard slogan, “No Music, No Life”. For decades, it seemed like the sun would never set on the iconic yellow and red letters that illuminated so many urban cityscapes. But that light would eventually burn out...Tune in on AdvertiseCast: https://www.advertisecast.com/TheGreatFail Learn more about your ad choices. Visit megaphone.fm/adchoices Hosted on Acast. See acast.com/privacy for more information.

On January 10, 2020, Chinese scientists posted the genome of a strange new virus that was beginning to spread worldwide. Within a week, virologists from Berlin quickly developed the first diagnostic test to detect this novel coronavirus and was published by the World Health Organization as the standard method to quickly test people around the world. By February, these test kits were shipped to almost 60 countries. For some reason, the United States was not one of them.Tune in on AdvertiseCast: https://www.advertisecast.com/TheGreatFail Learn more about your ad choices. Visit megaphone.fm/adchoices Hosted on Acast. See acast.com/privacy for more information.

For over 13 years, Gawker was one of the most popular sources for the latest on gossip, news, and entertainment. When it wasn’t breaking news and celebrity exposès, it was breaking its viewership records, seeing over 62 million unique visitors on its site each month. But, a sex tape and a Silicon Valley billionaire would start a bloodbath that would ultimately bring down Gawker’s multi-million dollar media empire. Find out on how Gawker found itself posting its own obituary on Episode 8.Tune in on AdvertiseCast: https://www.advertisecast.com/TheGreatFail Learn more about your ad choices. Visit megaphone.fm/adchoices Hosted on Acast. See acast.com/privacy for more information.

Juicero’s $700 juicer took Silicon Valley by storm in 2016. The brainchild of Doug Evans, a raw food enthusiast, was one of the most sought after products, already boasting $120 million in funding. Kobe Bryant was one of its investors, Oprah promoted it on one of her lavish giveaways and it even won over healthy living fanatics like Gwyneth Paltrow and Dr. Oz. Find out how this high-flying juicer got squeezed out of the limelight only a year and a half after its unveiling on Episode 7 of The Great Fail.Tune in on AdvertiseCast: https://www.advertisecast.com/TheGreatFail Learn more about your ad choices. Visit megaphone.fm/adchoices Hosted on Acast. See acast.com/privacy for more information.

We are dedicating this episode to Dr. Li Wenliang, the doctor who was credited as being one of the first to try and warn the public about the outbreak of COVID-19 in the early days. He was quickly reprimanded by the Chinese officials, accused of spreading rumors, and forced to sign a public statement of apology. The Great Fail that prevented Dr. Li’s warnings became a global crisis that led to the coronavirus becoming a pandemic today. Here is this week’s story on the Whistleblower from Wuhan.Tune in on AdvertiseCast: https://www.advertisecast.com/TheGreatFail Learn more about your ad choices. Visit megaphone.fm/adchoices Hosted on Acast. See acast.com/privacy for more information.

This week’s minisode includes a failed prophylactics business, fake catering and grasshopper protein powders.Tune in on AdvertiseCast: https://www.advertisecast.com/TheGreatFail Learn more about your ad choices. Visit megaphone.fm/adchoices Hosted on Acast. See acast.com/privacy for more information.

Before Best Buy, Target and Fry’s Electronics, there was Crazy Eddie, which created the blueprint for consumer electronic retailers. With their deep discounts and iconic Crazy Eddie ads, they were one of the top performers on Wall Street from 1984 to 1987. But beneath all the success, were internal rivalries, deep jealousy, plots of deceit and betrayal, and a huge family secret that would ultimately unravel this multi-million dollar enterprise.Tune in on AdvertiseCast: https://www.advertisecast.com/TheGreatFail Learn more about your ad choices. Visit megaphone.fm/adchoices Hosted on Acast. See acast.com/privacy for more information.

WeWork was one of the most highly anticipated IPOs in 2019. It received funding from the biggest investment banks and investment funds. Linked to celebrities like Ashton Kutcher, Hugh Jackman, and Mark Zuckerberg, the charismatic CEO Adam Neumann was on a trajectory to creating a movement for coworking space rentals across the globe. What would follow would be the crumbling of the WeWork brand, the failure of its IPO, the disgraceful exodus of WeWork employees and the ousting of its leader.Tune in on AdvertiseCast: https://www.advertisecast.com/TheGreatFail Learn more about your ad choices. Visit megaphone.fm/adchoices Hosted on Acast. See acast.com/privacy for more information.

By 1995, Calgary’s Bre-X became a $6 billion dollar company when it declared that it had discovered the world's largest gold mine within the jungles of Indonesia. What followed years later would entail all the elements of a Hollywood story: lies, betrayal, the collapse of an empire, and a badly decomposed body.Tune in on AdvertiseCast: https://www.advertisecast.com/TheGreatFail Learn more about your ad choices. Visit megaphone.fm/adchoices Hosted on Acast. See acast.com/privacy for more information.

On its debut, it was heralded as one of the best inventions of 2013. Google launched Project Glass as its first wearable that would rock the world. Glass quickly became the must-have product for celebrities and CEOs, and was on a fast track to becoming a culturally defining device that would cross over to mainstream success. So how did it end up on the DOA list just two years after its launch?Tune in on AdvertiseCast: https://www.advertisecast.com/TheGreatFail Learn more about your ad choices. Visit megaphone.fm/adchoices Hosted on Acast. See acast.com/privacy for more information.

In the 80's and early 90's, LA Gear became one of the most iconic brands with celebrity endorsements that included Michael Jackson, Paula Abdul, Hakeem Olajuwon, Joe Montana, and Wayne Gretzky. This quintessential company captured the hearts of men, women, and kids and for a minute, was third in sales behind Nike and Reebok. How one of the hottest companies, could commit a series of missteps that landed it on its deathbed by the late 90's, will have you doing the maniac flashdance. Tune in on AdvertiseCast: https://www.advertisecast.com/TheGreatFail Learn more about your ad choices. Visit megaphone.fm/adchoices Hosted on Acast. See acast.com/privacy for more information.

What makes greatness fail? How do some of the most successful brands, companies, ideas become obsolete?Welcome to The Great Fail, a podcast that examines and explores case studies of the most famous and infamous cases. Here we share stories that will irk you, shock you, and have you picking your jaw up from the floor. This isn’t your typical classroom lecture hall– the stories are delivered in a whodunit murder mystery because some of these incredible, and oftentimes avoidable, mistakes are truly a crim Learn more about your ad choices. Visit megaphone.fm/adchoices Hosted on Acast. See acast.com/privacy for more information.