100 books like Boulevard of Broken Dreams

Mr. Carreyrou was the Wall Street Journal reporter who broke the story that eventually led to the downfall of Elizabeth Holmes, CEO of Theranos. At its peak, this company was worth over $9 billion. Today, Holmes and her former COO have been convicted of fraud and are serving time.

I like this book because it serves as a curriculum for how NOT to operate a biotech company. It shows that while belief in your vision is essential for all successful entrepreneurs, there is no place for secrecy and arrogance in the business world.

Unfortunately, the “Theranos” effect has led to a decline in investment in new medical technology and has had a negative effect on the value of clinical laboratories.

It might seem odd, but there is no real better book than this one to illustrate the challenges of private equity. I use it as an example in my training sessions regularly.

The Merchant of Venice is not only one of the best plays on finance and ethics, but also the perfect illustration of the challenges of start-up investing before it became a profession. This play illustrates how venture financing differs in practice from bank financing. It also conveys the uncertainties associated with entrepreneurship, and how some capital providers are not able to take such a risk.

Shakespeare masters the art of contrasting the perspectives of an entrepreneur and a banker in a short and powerful format. It is a masterpiece and a must-read for anyone who wants to understand the philosophy of start-up investing. 

Though not a book about trading per se, this chronicle of the craziness surrounding the 1986 leveraged buyout of RJR-Nabisco is certainly worth a read.

It centers around the machinations of RJR-Nabisco’s breezy CEO, F. Ross Johnson, and how, apparently, being the head of one of America’s great companies wasn’t enough. The book really is as much a study of greed and ego as it is about what was, at the time, the most expensive LBO in history.

One gets the feeling the company in play, and its employees wondering what would be the impact on their lives once the negotiations way up in the New York corporate high rises were completed, were ancillary concerns to the players involved—Ross Johnson, American Express CEO and power publicist Jim and Linda Robinson, Shearson-Lehman head Peter Cohen, buyout specialist and anti-junk bond crusader Ted Forstmann, and the coldly menacing Henry Kravis and… show more.

Private market fund managers are, along with hedge fund managers, the magnates of the 21st century.

Although many come from a privileged background, quite a few are self-made men such as the founder of what was once the largest private equity fund management firm in the Middle East: Abraaj Capital. The rags-to-riches story of Arif Naqvi, his drive from his childhood in Pakistan to high international society is simultaneously mesmerizing and frightening.

A headlong rush starts as his ambition outpaces his already high success. The fall is crushing, not only for him, but also for his partners, his employees, and everyone who trusted him. The book is a perfect combination of factual analyses and storytelling.

I value this book as a comprehensive history of high-risk investing in America, from the Whaling Industry to Silicon Valley. 

Nicholas reveals the extraordinary skew and persistence in investment returns: a small number of investors are responsible for a disproportionate amount of the gains, and this holds true across widely varying institutional structures and technological domains.

And he explores the intimate relationship between the rise of the IT and Biotech industries and support from the U.S, Government. 

I absolutely love this book! It’s an easy read, reads like a novel, but it’s packed with very valuable lessons on entrepreneurship, venture capital, and leadership.

The story is told through a conversation between a venture capitalist (Komisar) and two young entrepreneurs who are planning to start a business for all the wrong reasons. It’s humorous, touching, and very entertaining. I laughed a lot.

In the end, you learn that a business needs much more than nuts and bolts. It needs heart and soul.

Equally as important as what you learn about startups, the story will teach you how to avoid the Deferred Life Plan, putting off what you want to do, and instead live your life with passion.

I have listened to Steven Bartlett’s podcast for years. He has interviewed an impressive and eclectic range of people, especially founders, and has pulled together much of what he has learned, both from his own business success and that of his guests.

I like the practicality of the “33 laws” in the book. I don’t agree with all of them. For example, I take issue with “Create a cult mentality,” but many of these laws are very sound indeed, including “Ask who not how” and “You must out-fail the competition.”

I like Steven’s persuasive and punchy style and the fact that he came from humble beginnings and has achieved so much. 

I love the title of this book–it is thought-provoking in the right kind of way.

The book, which is more about Linda’s story of founding and building Endeavor, a community of entrepreneurs in emerging markets, and less about finance, is on my list because of the lessons it offers about what it takes to be successful in doing something difficult.

In the book, Linda encourages readers to embrace risk and unconventional thinking to achieve success. Not to be afraid if others think what you are doing doesn’t make sense if you believe in your purpose, have a strong network of support, and are willing to adapt and learn along the way. It's a great read for any impact finance leader. 

This was an inspiring and motivating book.

The case studies of leaders, businesses, government, and agencies implementing new technologies for the improvement of work, agriculture, nutrition, productivity, and the climate is amazing.

My favourite case study snapshot is of Vivobarefoot footwear brand that partners with algae technology startup Bloom and their patented BLOOM foam - which takes harmful algae blooms out of waterways.

Shoes made out of algae blooms. By making shoes, it’s actually making the environment better. This is the ‘beyond net zero’ promise and potential. So cool.

The authors offer provocative ‘what if…’ questions at the beginning and end of each chapter to help the reader explore what the trends mean and how they might affect their current leadership paradigm.

One of the most useful aspects of the book is the ‘industry playlist’ infographic at the back of the book. You can look up your own industry and… show more.

I like this book because it’s based on mining quantitative data on almost ten thousand founders, not only anecdotal experience.

There is a lot of debate about the importance of co-founders and not trying to ‘go it alone.’ According to Noam, 65 percent of startups fail because of co-founder conflict. I find that super interesting, and it emphasizes why, if you want success, you’ve got to pick your co-founder(s) wisely. The same is true of the management team as well of course.