The Cult of We and the dangers of FOMO and hubris
If you had to sum up in only a few sentences the WeWork debacle to someone unfamiliar with the situation, how would you do so? The following quote from The Cult of We: WeWork, Adam Neumann, and the Great Startup Delusion by Eliot Brown and Maureen Farrell would be my candidate.
But prior to the prospectus becoming public, bankers and other advisers had continued to shower [Adam] Neumann with praise—giving him criticism too infrequently and too meekly. These advisers either ignored or danced around the company's obvious warts and red flags.
Now, at the eleventh hour, they finally spoke up. But the IPO was already on life support.