The Cult of We

The Cult of We by Eliot Brown and Maureen Farrell provides an enthralling and meticulously researched account of one of Silicon Valley's most audacious and controversial startups, WeWork. The narrative delves into the astonishing rise and subsequent dramatic fall of the company founded by Adam Neumann, a visionary whose grandiose ambitions and unorthodox business practices captivated and puzzled the global business community.

In 2001, Adam Neumann arrived in New York fresh from five years as a conscript in the Israeli navy. Little did anyone know that just over a decade later, he would be at the helm of a company valued at $47 billion. Neumann’s vision was not just about redefining office space; it was about creating a communal living mindset for the next generation. With his distinctive long hair and charisma, Neumann embodied the image of a Silicon Valley entrepreneur who could inspire and attract immense investments.

The core of WeWork was the radical array of beautifully designed, shared workspaces for startups, freelancers, and various enterprises, branded as a hip and innovative solution for modern professionals. However, as funds from prominent backers poured in, Neumann’s aspirations expanded beyond simple office spaces. WeWork’s vision grew to encompass educational ventures, urban development, and even interplanetary colonization — ambitions that led to reckless financial strategies and unchecked spending.

Despite these lofty goals and the money flowing in, the company's financials were a catastrophe. Revenues couldn't keep pace with expenditures, and the business model's sustainability came into question. The company’s spending spree included a private jet, often filled with marijuana smoke, as Neumann travelled the globe in search of more capital. The bubble burst in late 2019, just weeks before WeWork's much-anticipated Initial Public Offering (IPO), leading to Neumann’s ousting. However, in a twist befitting a modern-day corporate saga, Neumann walked away with a fortune, despite his exit.

The Cult of We meticulously examines how WeWork’s extraordinary ascent and catastrophic downfall encapsulate the rare intersection of high finance, eccentric leadership, and the peculiar dynamics of Silicon Valley. Drawing parallels with the collapse of Theranos and the hubristic implosions of the early 2000s dotcom era, Brown and Farrell dissect how and why some of the world's most prominent investors and banks fell under WeWork's spell, brushing aside evident risks and red flags.

This book is a riveting exploration of unchecked ambition, financial folly, and the zeitgeist of tech evangelism. Wall Street Journal reporters Eliot Brown and Maureen Farrell unravel the intricate web of how a dream born out of a New York loft spiralled into a global spectacle, questioning the future sustainability of Silicon Valley's "unicorn" culture. Whether you are a seasoned investor, a tech enthusiast, or just someone keen on understanding the realities behind modern corporate mythology, The Cult of We will leave a profound impression, challenging the myths of entrepreneurship and innovation.