How not to... IPO
shots Culture Editor Amy Kean talks to Eliot Brown, the co-writer of The Cult of We, which covers the rise and disastrous fall of wework, the unbelievable antics of its founder, Adam Neumann, and "the great start-up delusion".
Eliot Brown, a writer for the Wall Street Journal, and co-author Maureen Farrell, recently released a book about the story of wework.
The Cult of We; wework and the great start-up delusion recounts how a property business was able to dupe investors into believing it was a tech company, therefore extracting billions of dollars of investment, and tells the story of wework's founder, Adam Neumann, a magnetic, megalomaniacal, master-trickster who was at the head of what became one of the most disastrous IPO offerings in business history.
Brown and Kean discuss how wework became a "growing inferno of a dumpster fire", how usually smart people were unable to see what was staring them in the face, the fetishisation of company founders, and why this situation will most certainly happen again.