Lester F. Alexander III

UVA Darden Professor Les Alexander, author of a case study on Theranos, reflects on Elizabeth Holmes’ lasting notoriety and the lessons her downfall holds for entrepreneurs and investors, from transparency and accountability to the importance of due diligence.

As artificial intelligence disrupts many industries, MBA students and alumni are increasingly betting on “boring” businesses such as HVAC, plumbing and electrical companies that keep the economy running. Darden Professor Les Alexander explains why.

Buying a company is just the beginning. UVA Darden’s Les Alexander and alumni CEOs share what separates post-acquisition success from failure.

The Savannah Bananas have turned baseball upside down with a culture that prizes innovation — and accepts failure. A new case by Darden's Professor Les Alexander explores how owners Jesse and Emily Cole disrupted the sport by building a fans-first brand. What comes next for the Bananas and the modified game of baseball they invented, Banana Ball?

Entrepreneurship Through Acquisition (ETA) offers MBAs a path to business ownership. UVA Darden’s Professor Les Alexander breaks down four key funding models — Traditional, Self-Funded, Accelerator and Sponsored — highlighting trade-offs in control, risk and equity.

Carried interest is once again under scrutiny in Washington. UVA Darden Professor Les Alexander explains what it is, why it's controversial and how proposed changes to its tax treatment could reshape the landscape for private equity and venture capital.

A new business case on infamous tech company Theranos examines the risks for entrepreneurs, board members and investors in the fog of the innovation economy.

A growing number of MBA graduates are pursuing Entrepreneurship Through Acquisition (ETA), a strategy that lets them fast-track their way to the top by buying and running small businesses. Les Alexander, professor at UVA Darden, explains why ETA is booming.