1. What was the original mission and vision of Theranos founder Elizabeth Holmes? How did Holmes set out to fulfill her mission?

2. What is the designated role of a board of directors? Did the Theranos board of directors fulfill this role? Why, or why not? If not, what was the motivation behind stacking the board the way Holmes did? Explain.

3. Theranos was valued at some $10 billion at its peak. Did the investors overlook any red flags? Or was it simply FOMO (“fear of missing out”) that made them hurry to jump on the Theranos bandwagon? Why were so many people caught up in the hype around Theranos and Elizabeth Holmes, its charismatic leader?

4. Why and how did Theranos get in trouble?

5. What lessons can be learned from the Theranos case?