Energy

'Activate the space': WeWork founder Adam Neumann made staff sit at empty desks, throw parties, and play The Notorious B.I.G. when investors toured buildings, new book says

2 monthes ago   |   By Business Insider

Adam Neumann.
AP Photo/Mark Lennihan
Before tours, WeWork told staff to fill empty desks so it seemed business was booming, a book says.
Staff threw parties to create an illusion of community for investor tours, "The Cult of We" says.
Neumann reportedly told staff to play the Notorious B.I.G. song "Juicy" when he came with investors.
See more stories on Insider's business page .
When WeWork staff heard a colleague call out, "Activate the space," they knew the pressure was on. The phrase meant founder Adam Neumann was bringing investors to tour their WeWork location, and they had to kick...
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The Secret Service agents on Trump's infamous Walter Reed limo ride had all previously contracted COVID-19, book says

The Secret Service agents on Trump's infamous Walter Reed limo ride had all previously contracted COVID-19, book says

2 monthes ago   |   By Business Insider

Summary List Placement All the Secret Service agents who accompanied former President Donald Trump on his visit to Walter Reed hospital to get treated for COVID-19 had previously contracted the virus, according to Wall Street Journal reporter Michael Bender's new book "Frankly We Did Win This Election."
Trump, while infected and hospitalized, insisted on a public limo ride was widely criticized for appearing to put Secret Service agents in the presidential limo with him, decked out in full protective gear, at risk. Bender revealed in the book that only Secret Service agents with some...
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AOC says Republicans 'have been killing time for months' with crawling pace of infrastructure talks

AOC says Republicans 'have been killing time for months' with crawling pace of infrastructure talks

2 monthes ago   |   By Business Insider

Summary List Placement Rep. Alexandria Ocasio-Cortez of New York ripped into Republicans for the slow pace of infrastructure negotiations, arguing they're sucking up time on Democrats' legislative calendar. Congress is set to adjourn for a monthlong summer recess within weeks.
"They've been killing time for months and and at this point, I believe it's starting to get to a point where this bipartisan effort is seeming to serve less on investing in our infrastructure and serving more than ends up just delaying action on infrastructure," she told reporters on Tuesday. "It's been enough."
The...
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Here's how Wall Street bankers went all out to woo Adam Neumann in WeWork's doomed IPO

Here's how Wall Street bankers went all out to woo Adam Neumann in WeWork's doomed IPO

2 monthes ago   |   By Business Insider

Summary List Placement Adam Neumann was barking into a phone at one of his top deputies, livid at the headlines online and chyrons flashing on tv about his company.
It was August 14, 2019, and WeWork-the shared office space startup Neumann co-founded-had just revealed all its financials to the world as part of a planned initial public offering.
Neumann, the high-voltage 40-year-old CEO, was expecting a good day-one where a wave of positive press could propel his company to a blockbuster IPO and enhance the near-celebrity status that he and his wife Rebekah basked in. Such success had...
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JPMorgan CEO Jamie Dimon gave WeWork's Adam Neumann some business advice to warn him that he was grabbing too much power

JPMorgan CEO Jamie Dimon gave WeWork's Adam Neumann some business advice to warn him that he was grabbing too much power

2 monthes ago   |   By Business Insider

Summary List Placement You shouldn't do it, Jamie Dimon told Adam Neumann.
The leader of the largest US bank was on a call with Neumann in the summer of 2019. WeWork, the office space sharing company that Neumann had cofounded, was preparing to go public in what was expected to be one of the largest startup IPOs ever.
Dimon's firm, JPMorgan, was the "lead left" bank for the deal, overseeing the process. And it was now up to Dimon to convince the 40-year-old Neumann that his latest obsession was a terrible idea.
Neumann wanted new supervoting shares to consolidate his power. His shares...
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WeWork founder Adam Neumann once argued to Elon Musk that getting to Mars would be easy but "building community" there was the hard part, new book says

WeWork founder Adam Neumann once argued to Elon Musk that getting to Mars would be easy but "building community" there was the hard part, new book says

2 monthes ago   |   By Business Insider

Summary List Placement WeWork founder Adam Neumann has some unconventional thoughts about space, a new book says.
Neumann once told SpaceX CEO Elon Musk, whom he considered an idol, that getting to Mars was the easy part, but building community there would be difficult, according to "The Cult of We: WeWork, Adam Neumann, and the Great Startup Delusion."
Musk "was unimpressed and lectured Neumann about how getting there was, in fact, the hard part," the book says, citing Neumann's recollection of the meeting to staff.
In another meeting with a high-profile CEO, Neumann again demonstrated...
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