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The Cult of We WeWork, Adam Neumann, and the Great Startup

From the Wall Street Journal correspondents (recently featured in the WeWork Hulu documentary) whose scoop-filled reporting hastened the company’s demise, the definitive inside story of WeWork, its audacious founder, and what its epic unraveling says about a financial system drunk on the elixir of Silicon Valley innovation.

Adam Neumann Biography Summary

WeWork would be valued more than any other firm on the planet, with a market capitalization of $10 trillion. It wasn’t merely a provider of office space. It was a tech firm, even an AI start-up. Its WeGrow classrooms and WeLive apartments would change the way people learn and live.

A Middle East peace settlement would be inked in a WeWork one day, hypothesized founder Adam Neumann. The company may be able to assist in the colonization of Mars. And Neumann would become the first trillionaire in the world.

Neumann and his main supporter, SoftBank’s Masayoshi Son, had this goal. Their aim for the company, whose core activity was subletting workstations in slickly furnished offices, now appears to be insane.

Why did so many clever individuals fall for the hype, from venture capitalists to Wall Street’s elite? And where did WeWork go so horribly wrong?

Neumann went from a struggling baby clothing salesman to the charismatic, hard-partying CEO of a corporation worth $47 billion—on paper—in just over a decade.

The six-foot-five Israeli transplant looked the part of a messianic truth-teller, with his long hair and feel-good platitudes. Speculators were enthralled, and billions of dollars flowed in.

Neumann entertained a parade of power brokers trying to grab a piece of what he was selling: the country’s most valuable company, a once-in-a-lifetime chance, and a generation-defining moment.

WeWork, on the other hand, quickly ran out of cash faster than Neumann could bring it in. He scoured the globe for additional funds from his own jet, which was occasionally clouded with marijuana smoke. Then it all came apart as WeWork prepared for a Hail Mary IPO. In one of corporate America’s most stunning meltdowns, about $40 billion in value vanished.

About The Author:-

The Wall Street Journal’s Eliot Brown covers startups and venture capital. He formerly worked at The New York Observer and joined the Journal in 2010 to cover real estate. He currently resides in San Francisco.

Maureen Farrell has been a staff writer for The Wall Street Journal since 2013, covering initial public offerings. CNN, Forbes, Debtwire, and Mergermarket was among her prior employers. Her husband and two daughters live in Brooklyn with her.

The Wall Street Journal’s Eliot Brown covers startups and venture capital. He formerly worked at The New York Observer and joined the Journal in 2010 to cover real estate. He currently resides in San Francisco.

Maureen Farrell has been a staff writer for The Wall Street Journal since 2013, covering initial public offerings. CNN, Forbes, Debtwire, and Mergermarket was among her prior employers. Her husband and two daughters live in Brooklyn with her.

The Cult of We Wework Release Date

  • Publisher ‏ : ‎ Crown (July 20, 2021)
  • Language ‏ : ‎ English
  • Hardcover ‏ : ‎ 464 pages
  • ISBN-10 ‏ : ‎ 0593237110
  • ISBN-13 ‏ : ‎ 978-0593237113
  • Item Weight ‏ : ‎ 1.58 pounds
  • Dimensions ‏ : ‎ 6.39 x 1.45 x 9.72 inches

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