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Intelligence Squared

Billion Dollar Loser: The Epic Rise and Fall of WeWork

Intelligence Squared

Intelligence Squared

News, Society & Culture, Arts, News Commentary

4.21.2K Ratings

🗓️ 17 December 2020

⏱️ 47 minutes

🧾️ Download transcript

Summary

In its earliest days, WeWork promised the impossible: to make the workplace cool. In episode one of Intelligence Squared Business Reeves Wiedeman tells the story of how WeWork attracted billions of dollars from some of the most sought-after investors in the world, to build a global empire. Based on more than two hundred interviews, Wiedeman's book Billion Dollar Loser chronicles the breakneck speed at which WeWork's CEO Adam Neumann built and grew his company. Culminating in a day-by-day account of the five weeks leading up to WeWork's botched IPO and Neumann's dramatic ouster, Wiedeman exposes the story of the company's desperate attempt to secure the funding it needed in the final moments of a decade defined by excess. The episode was hosted by economist and broadcaster Linda Yueh. Subscribe to Intelligence Squared Business here: https://podcasts.apple.com/gb/podcast/intelligence-squared-business/id1542365818?i=1000500483797 Support this show http://supporter.acast.com/intelligencesquared.  See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

Hello, I'm Rory Stewart, and I'd like to tell you about an intelligent squared event I'm doing with the classicist, author and broadcaster Mary Beard.

0:09.0

Together we'll be discussing politics and power, from the Caesars to Sunac, who gets to win power who is excluded does power always corrupt or are there examples of leaders who've maintained their integrity while an authority and how does the nature of power vary across different times and cultures?

0:26.0

These are just some of the questions that Mary and I will be trying to answer.

0:30.0

In-person tickets are now sold out, but you can can still watch online on the 13th

0:34.0

November at 7 PM BST. Put your questions to us live as we discuss power and

0:39.2

politics down the business. Yes, in our age of COVID-19 and climate change, the need to debate our economic future

0:55.9

has arguably never been more important. In our new podcast, we'll speak to authors, business

1:00.6

leaders and public intellectuals about the future of capitalism and the trends changing the world of business.

1:06.0

In episode one, we were joined by Reeves Wideman, author of the new book, Billion Dollar Loser,

1:11.0

the epic rise and fall of Adam Newman and We Work.

1:14.5

It's a fascinating conversation and was hosted by Linda Yu, the economist and broadcaster

1:19.2

and if you do enjoy it, please do subscribe to our new podcast via the link in the episode description.

1:24.0

Just click through, hit the subscribe button and every Thursday you'll get another

1:27.6

Intelligence Square podcast around the world of business and the future of capitalism.

1:31.2

We hope you enjoy it and now let's go to the episode.

1:34.0

When a lot of employees got there, they were really excited and to hear Adam get up on stage

1:40.3

and tell them, you know, we're not just renting out office space, we're changing the world,

1:44.2

we're making a difference in people's lives every single day was really inspiring to people.

1:51.8

I saw it as a story about the last decade in a number of ways and the decade of the

1:57.4

2010s in kind of the startup world and the fact that so much of the growth that

2:02.4

existed in a decade of growth

2:05.0

was these kinds of companies that grew very quickly. Hello, I'm Linda Yu, an economist and author of the great economists. I'm delighted to be joined by Reeves Wideman,

...

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