Recent documentaries about business scandals are captivating audiences. Take, for example, the behind-the-scenes looks at the infamous Fyre Festival disaster and the disgraced Theranos that have set social media ablaze with commentary and memes. Each company was founded and led by charismatic, well, liars who were convincing enough to dupe unwitting investors (and in Theranos founder Elizabeth Holmes’ case, even some former secretaries of state) out of millions of dollars. Both companies marketed themselves to fame—and then fell apart when they could no longer keep up the charades. And both are cautionary tales.
As agency leaders and as marketers, we can learn a few things from these two massive failures.