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 fact that Ali has provided evidence that ANYONE can succeed as a founder. He has done a lot of number-crunching on ‘unicorns’ (I admire his tenacity for that!) and examined what makes a successful startup founder and some surprises emerge.

Age, education, and number of cofounders were not predictors of a startup’s success, as many of us might have expected. The big thing that does matter is experience. Sixty percent of unicorn founders had previously launched startups. It seems that in pretty much every walk of life, including this one, practice is the key.

I know the work that Entrepreneur First does and some young founders who have benefitted from their work and built successful businesses. This book is read by the founders as they talk about entrepreneurship, the start-up phase and co-founding.

I found the sections on understanding and using your ‘edge’ especially interesting, and this leads to some smart thinking about how to choose the right co-founder. The book stops at the point where the business is about to take off; keep that in mind.

If ever I have read a book that made a bold promise on the cover and then fully delivered on that promise in the pages of the book itself, it's this one. Reading this book (more than once) has literally helped me outthink, outperform, and outearn my competition.

Jay Abraham is truly the "guru to the gurus" in business growth. I found this book to be the best distillation of Jay's teachings I have ever encountered. It’s been worth more than 100 times the $30 I paid for it.