

Maureen Farrell on WeWork’s Investments (Podcast)
Dec 10, 2021
Maureen Farrell, a New York Times business reporter and co-author of "The Cult of We," dives into the dramatic tale of WeWork and its co-founder Adam Neumann. She discusses how charisma distorted investor judgment, leading to catastrophic financial choices. The talk covers WeWork's ambitious yet flawed strategies, highlights the eccentric culture within the company, and critiques its unconventional financial metrics. Also, she reflects on broader trends in startup investments and the accountability dynamic shifting in Silicon Valley.
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WeWork's Identity Crisis
- Adam Neumann tried to convince Elliot Brown that WeWork wasn't a real estate company.
- He asked if the Wall Street Journal had a reporter covering "community" companies.
WeWork's Inflated Valuation
- In 2014, WeWork's valuation was already getting ahead of itself, based on the idea of being a tech company.
- Adam Neumann excelled at marketing and fundraising, adapting to the current investment trends.
Not a Fraud, Just Delusional
- Unlike Theranos, WeWork wasn't a fraud; its valuations were just insane.
- Investors either overlooked or ignored the issues, despite disclosures.