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

The Cult of We tells the story of WeWork's rise and fall, based on Wall Street Journal reporting that exposed the company and the financial system supporting it. Founder Adam Neumann and SoftBank's Masayoshi Son envisioned WeWork as far more than an office space provider—as a tech company and AI startup that would revolutionize education and housing through WeGrow schools and WeLive residences. Neumann imagined peace accords signed in WeWork spaces and the company helping colonize Mars, with himself becoming the world's first trillionaire. In roughly a decade, Neumann transformed from a struggling baby clothes salesman into the charismatic CEO of a company valued at $47 billion on paper. His appearance and messaging attracted investors and power brokers seeking a stake in what seemed a once-in-a-lifetime opportunity. However, WeWork burned through cash rapidly. As the company prepared for an IPO, the situation collapsed, with nearly $40 billion in value disappearing in one of corporate America's most dramatic meltdowns. The book examines why intelligent investors and financial leaders embraced the company's vision and how the financial system enabled its spectacular failure.