The Cult of We
WeWork, Adam Neumann, and the Great Startup Delusion
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Narrated by:
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Thérèse Plummer
About this listen
Wall Street Journal best seller
A Financial Times, Fortune, and NPR Best Book of the Year
“The riveting, definitive account of WeWork, one of the wildest business stories of our time.” (Matt Levine, Money Stuff columnist, Bloomberg Opinion)
The definitive story of the rise and fall of WeWork (also depicted in the upcoming Apple TV+ series WeCrashed, starring Jared Leto and Anne Hathaway), by the real-life journalists whose Wall Street Journal reporting rocked the company and exposed a financial system drunk on the elixir of Silicon Valley innovation.
Longlisted for the Financial Times and Mckinsey Business Book of the Year Award
WeWork would be worth $10 trillion, more than any other company in the world. It wasn’t just an office space provider. It was a tech company - an AI startup, even. Its WeGrow schools and WeLive residences would revolutionize education and housing. One day, mused founder Adam Neumann, a Middle East peace accord would be signed in a WeWork. The company might help colonize Mars. And Neumann would become the world’s first trillionaire.
This was the vision of Neumann and his primary cheerleader, SoftBank’s Masayoshi Son. In hindsight, their ambition for the company, whose primary business was subletting desks in slickly designed offices, seems like madness. Why did so many intelligent people - from venture capitalists to Wall Street elite - fall for the hype? And how did WeWork go so wrong?
In little more than a decade, Neumann transformed himself from a struggling baby clothes salesman into the charismatic, hard-partying CEO of a company worth $47 billion - on paper. With his long hair and feel-good mantras, the six-foot-five Israeli transplant looked the part of a messianic truth teller. Investors swooned, and billions poured in.
Neumann dined with the CEOs of JPMorgan and Goldman Sachs, entertaining a parade of power brokers desperate to get a slice of what he was selling: the country’s most valuable startup, a once-in-a-lifetime opportunity and a generation-defining moment.
Soon, however, WeWork was burning through cash faster than Neumann could bring it in. From his private jet, sometimes clouded with marijuana smoke, he scoured the globe for more capital. Then, as WeWork readied a Hail Mary IPO, it all fell apart. Nearly $40 billion of value vaporized in one of corporate America’s most spectacular meltdowns.
Peppered with eye-popping, never-before-reported details, The Cult of We is the gripping story of careless and often absurd people - and the financial system they have made.
©2021 Eliot Brown and Maureen Farrell (P)2021 Random House AudioListeners also enjoyed...
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Critic reviews
"[The] ultimate portrayal of...an empire built on sand.” (Newsweek)
“Like Bad Blood...The Cult of We is novelistic in detail and often thrilling.... It’s like watching a car careening toward a wall at 90 miles an hour.” (The Washington Post)
“If I had to make a list of top five business books of all time, this would be on it. It’s just so damn engrossing.” (Christopher Mims, Wall Street Journal tech columnist)
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White House, Inc. is a newsmaking exposé that details President Trump’s efforts to make money off of politics, taking us inside his exclusive clubs, luxury hotels, overseas partnerships, commercial properties, and personal mansions. Alexander tracks hundreds of millions of dollars flowing freely between big businesses and President Trump. He explains, in plain language, how Trump tried to translate power into profit, from the 2016 campaign to the ramp-up to the 2020 campaign.
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Required reading for all Americans
- By Gregor on 10-11-20
By: Dan Alexander
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Smart People Should Build Things
- How to Restore Our Culture of Achievement, Build a Path for Entrepreneurs, and Create New Jobs in America
- By: Andrew Yang
- Narrated by: Tim Paige
- Length: 6 hrs and 12 mins
- Unabridged
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Overall
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Performance
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Story
In Smart People Should Build Things, this self-described "recovering lawyer" and entrepreneur weaves together a compelling narrative of success stories (including his own), offering observations about the flow of talent in the United States and explanations of why current trends are leading to economic distress and cultural decline. He also presents recommendations for both policy makers and job seekers to make entrepreneurship more realistic and achievable.
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Smart doesn’t mean smart.
- By Will on 03-21-20
By: Andrew Yang
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Too Good to Be True
- The Rise and Fall of Bernie Madoff
- By: Erin Arvedlund
- Narrated by: Karen White
- Length: 12 hrs and 57 mins
- Unabridged
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Overall
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Performance
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Story
Erin Arvedlund, the financial reporter who questioned the amazing returns of Bernie Madoff's hedge funds way back in 2001, traces the life of the infamous swindler and addresses the tough questions surrounding the collapse of his Ponzi scheme.
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Doesn't add much more that a lot of details.
- By Robert on 11-07-10
By: Erin Arvedlund
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Samsung Rising
- The Inside Story of the South Korean Giant That Set Out to Beat Apple and Conquer Tech
- By: Geoffrey Cain
- Narrated by: Michael Braun
- Length: 10 hrs and 4 mins
- Unabridged
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Overall
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Performance
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Story
Based on years of reporting on Samsung for The Economist, The Wall Street Journal, and Time, from his base in South Korea, and his countless sources inside and outside the company, Geoffrey Cain offers a penetrating look behind the curtains of the biggest company nobody in America knows. Seen for decades in tech circles as a fast follower rather than an innovation leader, Samsung today has grown to become a market leader in the United States and around the globe.
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Misleading title
- By Kevin on 02-25-21
By: Geoffrey Cain
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Mastering the VC Game
- A Venture Capital Insider Reveals How to Get from Start-Up to IPO on Your Terms
- By: Jeffrey Bussgang
- Narrated by: Ramon De Ocampo
- Length: 7 hrs and 14 mins
- Unabridged
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Overall
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Performance
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Story
Finding the right venture capitalist to back your start-up is a challenge. Even if you manage to get backing, you want your VC to be a partner, not some dictator who will undermine your vision and take control of your life's work. Jeffrey Bussgang is one of a very few people who have played on both sides of this high-stakes game. Now he draws on his unique perspective to offer high-level insights, colorful stories, and practical advice. He reveals how to get noticed, perfect a pitch, and negotiate a partnership that works for everyone.
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slow in beginning but gets really good
- By Diana on 04-11-19
By: Jeffrey Bussgang
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The Lost Bank
- The Story of Washington Mutual - The Biggest Bank Failure in American History
- By: Kirsten Grind
- Narrated by: Traber Burns
- Length: 14 hrs and 7 mins
- Unabridged
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Overall
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Performance
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Story
During the most dizzying days of the financial crisis, Washington Mutual, a bank with hundreds of billions of dollars in its coffers, suffered a crippling bank run. The story of its final, brutal collapse in the autumn of 2008, and its controversial sale to JPMorgan Chase, is an astonishing account of how one bank lost itself to greed and mismanagement, and how the entire financial industry - and even the entire country - lost its way as well. Kirsten Grind’s The Lost Bank is a magisterial and gripping account of these events.
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Sad and Angry by Turn
- By Johnnie Walker on 07-24-12
By: Kirsten Grind
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The Bank That Lived a Little
- Barclays in the Age of the Very Free Market
- By: Philip Augar
- Narrated by: Jonathan Keeble
- Length: 15 hrs and 32 mins
- Unabridged
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Overall
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Performance
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Story
Based on unparalleled access to those involved, and told with compelling pace and drama, The Bank That Lived a Little is the story of one of the most familiar names on the British high street since Big Bang in 1986. Philip Augar describes in detail three decades of boardroom intrigue driven by ruthless ambition, grandiose dreams and a desire for wealth. It is a tale of a struggle for long-term supremacy between rival strategies and their adherents.
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Global superstar bankers under light-touch gov
- By Philo on 12-21-18
By: Philip Augar
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Ahead of the Curve
- Two Years at Harvard Business School
- By: Philip Delves Broughton
- Narrated by: Simon Vance
- Length: 10 hrs and 7 mins
- Unabridged
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Overall
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Performance
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Story
In 2004 Philip Delves Broughton abandoned a post as Paris bureau chief of the London Daily Telegraph to join 900 other would-be tycoons on the Harvard Business School's plush campus. With acute and often uproarious candor, he assesses the school's success at teaching the traits it extols as most important in business: leadership, decisiveness, ethical behavior, and work/life balance.
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On one breath.
- By Atkins on 05-17-22
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The Liar's Ball
- The Extraordinary Saga of How One Building Broke the World's Toughest Tycoons
- By: Vicky Ward
- Narrated by: Jonathan Yen
- Length: 6 hrs and 35 mins
- Unabridged
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Overall
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Performance
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Story
Harry Macklowe is one of the most notorious wheelers and dealers of the real-estate world, and The Liar's Ball is the story of the gamblers and thieves who populate his world. Watch as Harry makes the gutsy bid for midtown Manhattan's famous GM building and puts almost no money down, landing the billion-dollar transaction that made him the poster child for New York's real-estate royalty. Listen in on the secret conversations, back-door deals, and blackmail that put Macklowe and his cronies on top - and set them up for an enormous fall.
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Excellent. Hope Biden Gets Covered Next
- By greenemann on 07-29-21
By: Vicky Ward
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Finish Big
- How Great Entrepreneurs Exit Their Companies on Top
- By: Bo Burlingham
- Narrated by: Sean Pratt
- Length: 10 hrs and 17 mins
- Unabridged
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Overall
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Performance
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Story
When pioneering business journalist and Inc. magazine editor at large Bo Burlingham wrote Small Giants, it became an instant classic for its original take on a common business problem - how to handle the pressure to grow. Now Burlingham is back to tackle an even more common problem - how to exit your company well. Sooner or later, all entrepreneurs leave their businesses and all businesses get sold, given away, or liquidated.
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Begin with the end in mind
- By D. Hartzell on 02-05-15
By: Bo Burlingham
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Red Roulette
- An Insider's Story of Wealth, Power, Corruption, and Vengeance in Today's China
- By: Desmond Shum
- Narrated by: Tim Chiou
- Length: 9 hrs and 21 mins
- Unabridged
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Overall
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Performance
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Story
As Desmond Shum was growing up impoverished in China, he vowed his life would be different. Through hard work and sheer tenacity he earned an American college degree and returned to his native country to establish himself in business. There, he met his future wife, the highly intelligent and equally ambitious Whitney Duan who was determined to make her mark within China’s male-dominated society. Whitney and Desmond formed an effective team and, aided by relationships they formed with top members of China’s Communist Party, the so-called red aristocracy.
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Desmond Shum is not a rube! He knows about wine, ok?
- By Peter L Hansen on 10-06-21
By: Desmond Shum
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Dethroning the King
- The Hostile Takeover of Anheuser-Busch, an American Icon
- By: Julie MacIntosh
- Narrated by: Joyce Bean
- Length: 12 hrs and 57 mins
- Unabridged
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Overall
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Performance
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Story
How did InBev, a Belgian company controlled by Brazilians, take over one of America's most beloved brands after barely a whimper of a fight? With timing - and some unexpected help from powerful members of the Busch dynasty, the very family that had run the company for more than a century. From the very heart of America's heartland to the European continent to Brazil, Dethroning the King is the ultimate corporate caper and a fascinating case study that's both wide-reaching and profound.
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Good Story but Narration Can be Annoying
- By Ken on 10-21-11
By: Julie MacIntosh
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Phenomenal story
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Ray Dalio does not want you to listen to this audiobook. Late last year, when the billionaire founder of Bridgewater Associates, the largest hedge fund on the planet, announced that he was stepping down from the company he started out of his apartment nearly 50 years ago, the news made headlines around the world. Dalio cultivated an aura of international admiration and fame thanks to his company’s eye-popping success, coupled with a mystique he encouraged with frequent media appearances, celebrity hobnobbing, and his bestselling book, Principles.
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Todo mundo imagina as bolsas de valores mais ou menos da mesma forma: pessoas nervosas na sala do pregão, gritando sem parar, agitando braços e empunhando telefones. Mas essa imagem já era. Agora, as negociações são realizadas por programas de computador, dentro de caixas-pretas localizadas em edifícios cercados de forte proteção. A cada dia, bilhões e bilhões de dólares circulam pelas redes de fibra óptica sem sequer passar por um corretor de carne e osso.
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In 2006, an oddball group of bankers, traders and brokers from some of the world's largest financial institutions made a startling realization: Libor - the London interbank offered rate, which determines the interest rates on trillions in loans worldwide - was set daily by a small group of easily manipulated functionaries, and that they could reap huge profits by nudging it to suit their trading portfolios.
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Does anyone "proofread" the audio book?
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Dark Towers
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In Dark Towers, award-winning journalist David Enrich reveals the truth about Deutsche Bank and its epic path of devastation. Tracing the bank's history back to its propping up of a default-prone American developer in the 1880s, helping the Nazis build Auschwitz, and wooing Eastern Bloc authoritarians, he shows how in the 1990s, via a succession of hard-charging executives, Deutsche made a fateful decision to pursue Wall Street riches, often at the expense of ethics and the law.
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Trying really hard to pay attention
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The Bond King
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Before Bill Gross was known among investors as the Bond King, he was a gambler. In 1966, a fresh college grad, he went to Vegas armed with his net worth ($200) and a knack for counting cards. Ten thousand dollars and countless casino bans later, he was hooked, so he enrolled in business school. The Bond King is the story of how that whiz kid made American finance his casino.
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What listeners say about The Cult of We
Average customer ratingsReviews - Please select the tabs below to change the source of reviews.
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- Anne
- 09-24-21
Fantastic
Genius reporting and a genuinely fun read. Six out of five stars. Very good book.
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- Anonymous User
- 01-01-22
fascinating story
this is a terrific description of the We Work story and the obnoxious, self-absorbed and arrogant Adam Neumann and his spoiled flakey wife. well hindsight might be 20/20, a blind person could have seen that something wasn't right with the We Work propaganda. The perfect storm of greed that brought down this company is the same greed and stupidity that caused the entire housing market to crash in 2005 to 2012.
The reading was a bit off putting with way too many inflections and upswings in her voice.
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- JB
- 08-16-21
An astounding story
Definitely worth reading. A look into the madness behind WeWork. A sobering story and a cautionary tale. Great narration.
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- Bill Dunn
- 04-19-22
Great listen!
Had to stop listening to this one!
A great ride from beginning to end - much more detail but just as much drama as We Crashed. Loved it!
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- znorthface
- 06-14-22
Entertaining and wild
Didn’t realize how wild the scene was, but did a great job of narrating the founding till it became a traded company.
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- Ihereou
- 12-11-22
Yeah. It's pretty good; however...
The narratior's performance is really good; however some parts feel out of place. I would recommend listen to this one before sleep. Her voice can calm even though it's about a man almost building a cult.
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- Unhappy Sirius Camper
- 08-14-21
Great companion to "Billion Dollar Loser"
I really enjoyed "Billion Dollar Loser", so I had some trepidation about "The Cult of We". On the one hand, I wanted more of the story. On the other, I was worried that it would be duplicative.
The two books are actually complimentary: "Billion Dollar Loser" focuses more on the cult of Adam Neumann and examples of his ego and rage-inducing narcissism, while "The Cult of We" focuses more on the financial side of the debacle. "The Cult of We" also goes into great detail on startup financing and all of the related craziness of the last 20 years. I could see "The Cult of We" as a standard textbook in MBA programs.
Fast pace, great narration. Really enjoyed it.
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- Anonymous User
- 08-15-21
Less spicy than other "Business True Crime"
Adam had good intentions, believed in his company and simply got drifted too far into his fantasies, convincing investors along the way.
Compared with Elizabeth Holmes in Bad Blood, he is just an over-dreamy entrepreneur, no harm intended.
It was nice and interesting to hear the full story behind this epic rise and fall.
Therese Plummer did an excellent job narrating!
I wish more books were read by voices like hers.
I do 100% recommend Bad Blood.
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- BENNIE RHEEDER
- 10-05-23
Greed and gluttony
Great factual account of the WeWork disaster. Recommended for people who enjoy modern stories of greed, hubris and cult like organisations.
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- Privatebuyer
- 08-05-21
How to give a horrible story five stars
The epilogue begins by quoting F Scott Fitzgerald: “They were careless people.. “ That is an understatement. I make my living reading, writing and planning land-based investments. This is the second book I have read this summer on the Wework scandal. Well written and clearly told this book is about more than the waste of billions of US dollars at Wework. This book has made me more frequently nauseous and enraged than anything else I have ever read. Its worse than the stories about ponzi schemers. This story is about our penchant for messianic figures leading us to a Midas nirvana. It is about the myth of what is technology. It is about financing slight of hand promises rather than tangible goods, services and products. If you wish to become angry or ill, read this very good and clear book --. Avarice, narcissism and greed, or should that be gluttony. No they were not careless; they were intentional.
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