The Knowledge Project with Shane Parrish

#85 Bethany McLean: Crafting a Narrative

113 snips
Jun 9, 2020
Bethany McLean, a best-selling author renowned for her investigative work on Enron and corporate fraud, shares her insights on storytelling in business. She reveals the fine line between visionaries and fraudsters, highlighting how charisma can mislead investors. The discussion covers ethics in pharmaceutical pricing and the role of journalism in holding corporations accountable. McLean also reflects on the complexities of leadership, emphasizing the importance of transparency in storytelling amidst a rapidly changing media landscape.
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INSIGHT

Emotional Business World

  • The business world is incredibly emotional, not rational, with a bias towards belief.
  • Most people stand to make money if a stock goes up, creating inherent bias.
INSIGHT

Whistleblowers as Outsiders

  • Whistleblowers are typically outsiders because internal culture and financial dependence heavily influence belief.
  • It's challenging to see against self-interest within a company.
ANECDOTE

Similarities Between Enron and Valeant

  • Enron and Valeant, despite being different companies, share similarities like legal fraud and making enemies on the rise.
  • Both companies' downfalls were swift due to built-up resentment.
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