This is Master's in Business with Barry Redholz on Bloomberg Radio.

This week on the podcast, I have a special guest.

Her name is Maureen Farrell and she is the co-author of the book Cult of We, We Work at

Amnuman and The Great Startup Delusion.

I read this book a couple of weeks ago and just plowed through it.

It's a lot of fun.

One you think about We Work is actually even crazier and more insane and more delusional

than you would have guessed.

All the venture capitalists and big investors not really doing the appropriate due diligence

relying on each other and nobody really looking at the numbers which kind of revealed that

this was a giant money losing fast growing start-up that really was a real estate play

pretending to be a tech play.

Tech gets one sort of multiple real estate gets a much lower multiple and Newman was able

to convince a lot of people that this was a tech start-up and therefore worthy of a billion

dollar and then multi-billion dollar valuation.

It's fascinating that it's deeply deeply reported.

There is just an incredible series of vignettes and stories and reveals that they're just

shocking what Newman and company were able to far-bough on their investors.

Everything from ridiculous self-dealing to crazy valuations to lackluster due diligence

and then just the craziest, most egregious golden parachute in the history of corporate

America.

I found the book to be just fascinating and as well as my conversation with Maureen.

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