Goldman Sachs quoted Steve Jobs, Bob Marley, and Mother Teresa in its pitch for WeWork's IPO
- Goldman Sachs quoted Steve Jobs, Bob Marley, Mother Teresa, and Lin-Manuel Miranda in its pitch for WeWork's IPO, according to the Wall Street Journal.
- The references were likely intended to appeal to WeWork's cofounder and then-CEO Adam Neumann.
- Neumann reportedly told colleagues that "Steve Jobs" author Walter Isaacson might write his biography, while Miranda performed at a WeWork event in 2016.
- Artie Minson, now WeWork's co-CEO, walked out to Marley's "Three Little Birds" at another event this year.
- The quotes about love and collaboration chime with Neumann's world view, given he has emphasized the importance of loving one's work and pitched WeWork as a way to "foster human connection."
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Goldman Sachs quoted Steve Jobs, Bob Marley, Mother Teresa, and Lin-Manuel Miranda in its pitch for WeWork's IPO, according to the Wall Street Journal.The bank's presentation included headshots of all four with the following quotes:Advertisement
- Mother Teresa: "It's not about how much you do, but how much love you put into what you do that counts"
- Steve Jobs: "The only way to do good work is to do what you love."
- Bob Marley: "Love the life you live. Live the life you love."
- Lin-Manuel Miranda: "The fun for me in collaboration is, one, working with other people just makes you smarter; that's proven."
Neumann told colleagues that "Steve Jobs" author Walter Isaacson might write his biography, according to Vanity Fair. His wife, Rebekah, interviewed "Hamilton" star Miranda at WeWork's summer camp in 2016.At WeWork's annual summit this year, Artie Minson - then WeWork's finance chief, now its co-CEO - walked on stage to Marley's "Three Little Birds" and promised employees "every little thing is gonna be all right," Vice reported.
The quotes' focus on love and collaboration chimes with Neumann's fondness for those themes."The goal is finding something that you truly love," he told a crowd in India in 2016, according to Fast Company."I believe that when you do what you love you find higher levels of satisfaction that can compensate for lower income," he told The Guardian in 2016.Advertisement
Similarly, WeWork's IPO filing touts its coworking model, design elements such as open spaces and communal meeting rooms, and team of community managers as tools to create a "collaborative culture" and "foster human connection."
WeWork scrapped its plans to go public in September after investors railed against its mushrooming losses, questionable business model, limited governance, and Neumann's controversial behavior and tight grip on the company.Neumann resigned as CEO and the startup, running short of cash, accepted a rescue deal from SoftBank in October that valued it below $10 billion - a fraction of its $47 billion valuation in January.Advertisement
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