Shop - BILLION DOLLAR LOSER: The Epic Rise And Spectacular Fall Of Adam Neumann And WeWork

The book combines interviews with WeWork employees with analysis from other industry experts to recount the founding of office space leasing company WeWork, and its rapid ascent followed by its later devaluation and unsuccessful IPO. Neumann’s role as CEO and the cult of personality surrounding him are a major focus of the book.
 
In its earliest days, WeWork promised the impossible: to make the American work place cool. Adam Neumann, an immigrant determined to make his fortune in the United States, landed on the idea of repurposing surplus New York office space for the burgeoning freelance class. The book delves into the rise of WeWork, which at one point was valued at $47 billion and seemed poised to disrupt the real estate industry with its innovative approach to flexible office spaces. Adam Neumann’s vision for the company was grandiose, and he presented himself as a visionary leader who aimed to change the way people work and live.
 
Over the course of ten years, WeWork attracted billions of dollars from some of the most sought-after investors in the world, while spending it to build a global real estate empire that he insisted was much more than that: an organization that aspired to nothing less than “elevating the world’s consciousness.”
 
However, “Billion Dollar Loser” also uncovers the reckless and controversial decisions made by Neumann and his leadership team, including extravagant spending, questionable financial practices, and a culture of excess. The company’s IPO attempt in 2019 was a pivotal moment in its downfall, as it revealed significant financial losses and governance issues.
 
Moving between New York real estate, Silicon Valley venture capital, and the very specific force field of spirituality and ambition erected by Adam Neumann himself, Billion Dollar Loser lays bare the internal drama inside WeWork. Based on more than two hundred interviews, this book chronicles the breakneck speed at which WeWork’s CEO built and grew his company along with Neumann’s relationship to a world of investors, including Masayoshi Son of Softbank, who fueled its chaotic expansion into everything from apartment buildings to elementary schools.
 
Culminating in a day-by-day account of the five weeks leading up to WeWork’s botched IPO and Neumann’s dramatic ouster, Wiedeman exposes the story of the company’s desperate attempt to secure the funding it needed in the final moments of a decade defined by excess. Billion Dollar Loser is the first book to indelibly capture the highly leveraged, all-blue-sky world of American business in President Trump’s first term, and also offers a sober reckoning with its fallout as a new era begins.
 
Ultimately, the book explores how WeWork went from being a darling of the tech industry to a cautionary tale of overvaluation and corporate mismanagement. It highlights the dynamics of the modern startup ecosystem and the consequences of prioritizing growth and hype over profitability and sound business practices.
 
Veteran journalist Reeves Weideman dives deep into WeWork and it CEO’s astronomical rise, from the marijuana and tequila-filled board rooms to cult-like company summer camps and consciousness-raising with Anthony Kiedis. Billion Dollar Loser is a character-driven business narrative that captures, through the fascinating psyche of a billionaire founder and his wife and co-founder, the slippery state of global capitalism.
 
Reeves Wiedeman’s investigative work provides readers with a deep dive into the fascinating, and at times troubling, story of WeWork and Adam Neumann. It sheds light on the challenges and pitfalls of the startup world and serves as a cautionary tale for entrepreneurs and investors alike.
 
Overall, “Billion Dollar Loser” is a book that tells the story of WeWork and its co-founder Adam Neumann, providing insights into the culture of Silicon Valley startups and the personality and leadership style of a charismatic but controversial figure.
 
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About the Author :
 
Reeves Wiedeman is a contributing editor at New York magazine, and has written for the New Yorker, the New York Times Magazine, Rolling Stone, Harper’s, and other publications.