On March 26, 2021, the financial world awoke to the news that rattled some of Wall Street’s biggest players. To the outside world, and at the center of it all were some unfamiliar and obscure names-- Archegos Capital and its Founder Bill Hwang. The word on the street was that Archegos defaulted on billions of dollars of loans, creating a contagion amongst some of the world’s biggest banks that now faced billion-dollar losses. What would be uncovered would become one of the most astounding and outrageous financial failures in modern-day history, which all could’ve been entirely preventable. Thank you to our partners at AdvertiseCast. https://www.advertisecast.com/TheGreatFail And special thanks to our sponsor this week: Mint Mobile   Learn more about your ad choices. Visit megaphone.fm/adchoices Hosted on Acast. See acast.com/privacy for more information.

Episode 32: Archegos Capital, A Greek Tragedy

The Great Fail is a true crime inspired, business podcast that examines the greatest success stories of the most prominent and prolific companies, brands, and people and what led to their demise. If you love true crime and stories of massive failures, you've come to the right place! Here we take a forensic look at stories that will irk you, shock you, and have you picking your jaw up off the floor, all while learning the oftentimes avoidable, mistakes that have ended the lives of companies and left boardrooms looking like crime scenes. Hosted on Acast. See acast.com/privacy for more information.

Business

Investing

Careers

Management & Marketing

Business News

Shopping

News

Entrepreneurship

True crime

On the cold morning of January 28th, 1986, anticipation filled the air as the space shuttle Challenger prepared for its 10th mission. This historic event featured Christa McAuliffe, the first civilian to join a space mission, aiming to inspire students with live broadcasts from orbit. Tragically, just 73 seconds after launch, the Challenger exploded, leaving millions of viewers in shock. In the months that followed, the Rogers Commission, led by former Secretary of State William P. Rogers, was formed to investigate the disaster. What they found would shake America's trust in NASA for years to come.   Tune in to Episode 67 of The Great Fail to hear the full story. Special thanks to Adam Higginbotham for his contributions to this segment. 
 Hosted on Acast. See acast.com/privacy for more information.

Episode 67: Space Shuttle Challenger

In 2015, Alex Garden, the enigmatic co-founder and CEO of Zume, unveiled an ambitious plan to revolutionize the pizza industry with advanced technology and robots. His concept caught the attention of major venture capital funds, including Jerry Yang, co-founder of Yahoo, and SoftBank's $100 billion Vision Fund. With substantial funding and media attention, Zume seemed poised to transform the food industry. However, despite having all the right ingredients, what led to their downfall was so outrageous it will have you scratching your head and questioning how half-baked the management was. This is sure to be one of the most intriguing failures you've ever heard about yet.   Tune in to Episode 66 of The Great Fail to hear the full story. Special thanks to Joanna Fantozzi for her contributions to this segment. Hosted on Acast. See acast.com/privacy for more information.

Episode 66: Zume’s Meltdown

In the 1980s, Action Park was a summer hotspot for many in the Tri-State area, attracting visitors from New York, New Jersey, and Connecticut. Entrepreneur Gene Mulvihill sought to transform the former Great Gorge Ski Resort into his own 'Disney of Jersey'—one of the first modern American water parks. The concept was promising.
Yet, the reality took a darker turn with poorly designed rides, inexperienced staff, and unrestricted alcohol, resulting in hundreds of injuries and six deaths. These dangers left many wondering how and why Action Park could continue operating so many years without any repercussions?
Tune in to Episode 65 of The Great Fail, to hear the story. Special thanks to Seth Porges, director of Class Action Park, for his insights in this segment. All credits and sources can be found at www.thegreatfail.com Hosted on Acast. See acast.com/privacy for more information.

Episode 65: Action Park’s Final Thrill

American wrestling, which most notably revolves around the WWE brand, owes much of its success to the influential presence of the McMahons - Vince McMahon, most of all. There is no doubt about the influence he had on wrestling and the way he turned the likes of Dwayne “The Rock” Johnson, John Cena, “Stone Cold” Steve Austin, and Hulk Hogan into household names, as well as his role in creating the blueprint for pay-per-view programming. However, in the wake of the legacy he has left behind, are allegations - a dirty laundry list that includes sexual misconduct and lawsuits claiming his abuse of power. For more than four decades, he was both an executive and a performer in his own show, acting as the diabolical "Mr. McMahon." But to what extent does the fiction intertwine or blur into reality?
Tune in to Episode 64 of The Great Fail to hear the story. Special thanks to Abraham Josephine Riesman for her contributions to this segment.
For show notes and sources, please visit: www.thegreatfail.com. Hosted on Acast. See acast.com/privacy for more information.

Episode 64: The IN-Vince-able McMahon

Once at the top of the food chain, Quiznos achieved over $2 billion in sales and had nearly 5,000 restaurant chains. But just as things were heating up, the iconic company found itself in a pickle, leaving behind a very sour taste.
Tune in to Episode 63 of The Great Fail to listen to one of the most significant and dramatic restaurant collapses in American history. Special thanks to Jonathan Maze for his contributions to this segment, and a shout-out to Adweek and Acast for their support.
Sources: A brief history of Quiznos’ collapse The Real Reason Why Quiznos Is Disappearing Across The Country The Quiznos Story: From Huge Success To Huge Bust WHAT HAPPENED TO QUIZNOS SUBS? Wikipedia: Quiznos Quiznos – Failure Case Study Denver-based Quiznos hit by new lawsuits from disgruntled franchisees Three Factors That Led to Quiznos' Epic Decline QUIZNOS: Biggest Collapse in Restaurant History? Quiznos terminates franchisees on heels of suicide Fast Food’s Most Unhinged Mascots Are Back Quiznos is bringing back Spongmonkeys, its creepy rat-like mascots from 20 years ago, as the restaurant looks for a comeback Death of a toasted sandwich salesman How Quiznos Failed Itself By Failing Its Franchisees Quiznos Bankruptcy May Have Roots in Long Beach Franchisee’s Suicide The Untold Truth Of Quiznos Hosted on Acast. See acast.com/privacy for more information.

Episode 32: Archegos Capital, A Greek Tragedy

Download our free app to listen on your phone