In three stories that we have discussed lately - the UAGC ongoing fiasco, the University of Phoenix sales process, and Project Kitty Hawk board reports - there seems to be a common theme. Namely, that governance issues are creating a lot of the risk, when governance should be used to manage risk. What is happening around governance in these three examples, and why are we seeing this common theme across high-profile online initiatives? What does this say about higher ed culture and its ability to navigate change?