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For the niche-drama lovers in your life, @reeveswiedeman  's book "Billion Dollar Loser, " which grew out of reporting for New York magazine, chronicles the epic rise and spectacular fall of Adam Neumann and WeWork

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Last September, the C.E.O. of WeWork, Adam Neumann, was forced to step down. “The board let Adam get away with terrorizing employees and wasting billions,” a former executive said. “But, once he threatened their personal payouts, they cut his throat.”

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Over the past year, I’ve been trying to answer the question: Who is responsible for the WeWork catastrophe? Why didn’t the board or venture capitalists stop C.E.O. Adam Neumann from wasting billions of dollars and almost destroying the company?

The failures of WeWork founder Adam Neumann were also the failures of investors who couldn't see past his confidence.

“I’m a big believer that he will be successful, and that he has learned a lot from his prior life.” Get you an investor who feels about you the way SoftBank's Masa Son (still!) feels about WeWork's Adam Neumann:

After losing billions on WeWork investments, SoftBank CEO Masayoshi Son says he still loves and respects ousted founder Adam Neumann

On Adam Neumann, WeWork's co-founder and former CEO, Masa calls him "a smart guy " with "a lot of capabilities. " He made a mistake, but Masa adds, "I’m a big believer that he will be successful, and that he has learned a lot from his prior life. " #DealBook 

Masa Son of SoftBank, on WeWork founder Adam Neumann: "I am sure he will come back and do great stuff. I’m a big believer that he will be successful, and that he has learned a lot from his prior life.” #dealbook 

Masa Son on WeWorks' Adam Neumann. "He's a great leader. But he made some mistakes... And I'm part of the reason for his mistakes. I still love him... We made a lot of losses on WeWork. That is my mistake. Luckily we have some other hits."

The rise and fall of WeWork co-founder Adam Neumann should be a morality tale – but it's far from that.


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WE WORK goes BANKRUPT just as WE Get Back To WORK. Poetic justice. WE WORK is the poster child of the cancer in our FAKE $ economy. adam neumann'>Founder Adam Neumann is crying. He did not get his BILLION $ bonus. What about the BILLIONS out of work you greedy egotistical wimp? Get a job!

I think I found the video that WeWork's Adam Neumann advised Jared Kushner to create in order to promote peace in the Middle East during a June conference in Bahrain. I can't believe I just wrote that sentence.

WeWork's Adam Neumann set to receive a $1.7 billion deal to step down from its board, which will include a $185M “consulting fee” from SoftBank and $500M of credit from the investor - WSJ

Adam Neumann with one of the filthiest and downright sickest smash and grab jobs in the history of the public markets He turned a cash incinerating, IPO failing, employee terminating and nearly bankrupt sewer of a company into a billion dollar personal payday

Adam Neumann's existence almost makes me feel bad for Elizabeth Holmes. Holmes had to run a genuine fake science fraud to scam billionaires out of their money, Neumann was just like I'm serving coffee out of my exposed brick sublet that'll be $700 million please Mr. Softbank.

* Neumann Expected to Sell Roughly $1 Billion of Stock to SoftBank - Sources * Neumann to Get $185M Consulting Fee From SoftBank - Sources * SoftBank to Extend $500 Million of Credit to Neumann - Sources * Adam Neumann to Step Down From WeWork Board - Sources (Dow Jones)

Breaking News: WeWork’s CEO, Adam Neumann, is said to be stepping down, a stunning fall for an entrepreneur who oversaw one of the most valuable start-ups of the last decade

Today I wrote about WeWork and what I call Counterfeit Capitalism. There are important lessons in CEO Adam Neumann's rise and fall.

WeWork's largest investor, SoftBank, and others moving to oust Adam Neumann as CEO