Library:Billion Dollar Loser
| Billion Dollar Loser: The Epic Rise and Spectacular Fall of Adam Neumann and WeWork | |
|---|---|
| Author | Reeves Wiedeman |
| First published | 2020 |
| ISBN | — |
| Role | Analysis |
| Domains | Business, Finance & Scams |
| Tactics | Statistical & Evidentiary Distortion Propaganda Technique |
Billion Dollar Loser: The Epic Rise and Spectacular Fall of Adam Neumann and WeWork is a 2020 book by Reeves Wiedeman.
Summary
Journalist Reeves Wiedeman tells how WeWork, a company that leased office space and sublet it, presented itself as a technology company and reached a private valuation of $47 billion, and how its planned public offering collapsed in 2019.
Key points
- Branding over business. WeWork's mission statements and metrics presented a real estate business as a world-changing tech platform.
- Founder culture. Wiedeman describes Adam Neumann's leadership, conflicts of interest and spending.
- Investors. The book examines how investors, especially SoftBank, fueled the valuation.
Relevance to Bullshitopedia
The book is a detailed account of how storytelling and invented metrics can inflate a company's value far beyond its fundamentals.