Billion Dollar Loser: The Epic Rise and Spectacular Fall of Adam Neumann and WeWork


Reeves Wiedeman - 2020
    Adam Neumann, an immigrant determined to make his fortune in the United States, landed on the idea of repurposing surplus New York office space for the burgeoning freelance class. Over the course of ten years, WeWork attracted billions of dollars from some of the most sought-after investors in the world, while spending it to build a global real estate empire that he insisted was much more than that: an organization that aspired to nothing less than "elevating the world's consciousness."Moving between New York real estate, Silicon Valley venture capital, and the very specific force field of spirituality and ambition erected by Adam Neumann himself, Billion Dollar Loser lays bare the internal drama inside WeWork. Based on more than two hundred interviews, this book chronicles the breakneck speed at which WeWork’s CEO built and grew his company along with Neumann’s relationship to a world of investors, including Masayoshi Son of Softbank, who fueled its chaotic expansion into everything from apartment buildings to elementary schools.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. Billion Dollar Loser is the first book to indelibly capture the highly leveraged, all-blue-sky world of American business in President Trump’s first term, and also offers a sober reckoning with its fallout as a new era begins.

The Great Reversal: How America Gave Up on Free Markets


Thomas Philippon - 2019
    By lobbying against competition, the biggest firms drive profits higher while depressing wages and limiting opportunities for investment, innovation, and growth.Why are cell-phone plans so much more expensive in the United States than in Europe? It seems a simple question. But the search for an answer took Thomas Philippon on an unexpected journey through some of the most complex and hotly debated issues in modern economics. Ultimately he reached his surprising conclusion: American markets, once a model for the world, are giving up on healthy competition. Sector after economic sector is more concentrated than it was twenty years ago, dominated by fewer and bigger players who lobby politicians aggressively to protect and expand their profit margins. Across the country, this drives up prices while driving down investment, productivity, growth, and wages, resulting in more inequality. Meanwhile, Europe--long dismissed for competitive sclerosis and weak antitrust--is beating America at its own game.Philippon, one of the world's leading economists, did not expect these conclusions in the age of Silicon Valley start-ups and millennial millionaires. But the data from his cutting-edge research proved undeniable. In this compelling tale of economic detective work, we follow him as he works out the basic facts and consequences of industry concentration in the U.S. and Europe, shows how lobbying and campaign contributions have defanged antitrust regulators, and considers what all this means for free trade, technology, and innovation. For the sake of ordinary Americans, he concludes, government needs to return to what it once did best: keeping the playing field level for competition. It's time to make American markets great--and free--again.

God Save Texas: A Journey Into the Soul of the Lone Star State


Lawrence Wright - 2018
    It is a red state in the heart of Trumpland that hasn't elected a Democrat to a statewide office in more than twenty years; but it is also a state in which minorities already form a majority (including the largest number of Muslims). The cities are blue and among the most diverse in the nation. Oil is still king but Texas now leads California in technology exports. The Texas economic model of low taxes and minimal regulation has produced extraordinary growth but also striking income disparities. Texas looks a lot like the America that Donald Trump wants to create. And Wright's profound portrait of the state not only reflects our country back as it is, but as it was and as it might be.

Black Edge: Inside Information, Dirty Money, and the Quest to Bring Down the Most Wanted Man on Wall Street


Sheelah Kolhatkar - 2017
    Cohen changed Wall Street. He and his fellow pioneers of the hedge fund industry didn't lay railroads, build factories, or invent new technologies. Rather, they made their billions through speculation, by placing bets in the market that turned out to be right more often than wrong and for this, they gained not only extreme personal wealth but formidable influence throughout society. Hedge funds now oversee more than $3 trillion in assets, and the competition between them is so fierce that traders will do whatever they can to get an edge.Cohen was one of the industry's biggest success stories, the person everyone else in the business wanted to be. Born into a middle-class family on Long Island, he longed from an early age to be a star on Wall Street. He mastered poker in high school, went off to Wharton, and in 1992 launched the hedge fund SAC Capital, which he built into a $15 billion empire, almost entirely on the basis of his wizard like stock trading. He cultivated an air of mystery, reclusiveness, and excess, building a 35,000-square-foot mansion in Greenwich, Connecticut, flying to work by helicopter, and amassing one of the largest private art collections in the world. On Wall Street, Cohen was revered as a genius: one of the greatest traders who ever lived.That image was shattered when SAC Capital became the target of a sprawling, seven-year investigation, led by a determined group of FBI agents, prosecutors, and SEC enforcement attorneys. Labeled by prosecutors as a magnet for market cheaters whose culture encouraged the relentless pursuit of edge and even black edge, which is inside information SAC Capital was ultimately indicted and pleaded guilty to charges of securities and wire fraud in connection with a vast insider trading scheme, even as Cohen himself was never charged.Black Edge offers a revelatory look at the gray zone in which so much of Wall Street functions. It's a riveting, true-life legal thriller that takes readers inside the government's pursuit of Cohen and his employees, and raises urgent and troubling questions about the power and wealth of those who sit at the pinnacle of modern Wall Street.

Before the Storm: Barry Goldwater and the Unmaking of the American Consensus


Rick Perlstein - 2001
    At the heart of the story is Barry Goldwater, the renegade Republican from Arizona who loathed federal government, despised liberals, and mocked “peaceful coexistence” with the USSR. Perlstein's narrative shines a light on a whole world of conservatives and their antagonists, including William F. Buckley, Nelson Rockefeller, and Bill Moyers. Vividly written, Before the Storm is an essential book about the 1960s.

Factory Man: How One Furniture Maker Battled Offshoring, Stayed Local - and Helped Save an American Town


Beth Macy - 2014
    The Bassett Furniture Company was once the world's biggest wood furniture manufacturer. Run by the same powerful Virginia family for generations, it was also the center of life in Bassett, Virginia. But beginning in the 1980s, the first waves of Asian competition hit, and ultimately Bassett was forced to send its production overseas. One man fought back: John Bassett III, a shrewd and determined third-generation factory man, now chairman of Vaughan-Bassett Furniture Co, which employs more than 700 Virginians and has sales of more than $90 million. In Factory Man, Beth Macy brings to life Bassett's deeply personal furniture and family story, along with a host of characters from an industry that was as cutthroat as it was colorful. As she shows how he uses legal maneuvers, factory efficiencies, and sheer grit and cunning to save hundreds of jobs, she also reveals the truth about modern industry in America.

The Big Rich: The Rise and Fall of the Greatest Texas Oil Fortunes


Bryan Burrough - 2009
    By weaving together the epic sagas of the industry’s four greatest fortunes, Burrough has produced an enthralling tale of money, family, and power in the American century. Known in their day as the Big Four, Roy Cullen, H. L. Hunt, Clint Murchison, and Sid Richardson were all from modest backgrounds, and all became patriarchs of the wealthiest oil families in Texas. As a class they came to be known as the Big Rich, and together they created a new legend in America—the swaggering Texas oilman who owns private islands, sprawling ranches and perhaps a football team or two, and mingles with presidents and Hollywood stars. The truth more than lives up to the myth. Along with their peers, the Big Four shifted wealth and power in America away from the East Coast, sending three of their state’s native sons to the White House and largely bankrolling the rise of modern conservatism in America. H. L. Hunt became America’s richest man by grabbing Texas’s largest oilfield out from under the nose of the man who found it; he was also a lifelong bigamist. Clint Murchison entertained British royalty on his Mexican hacienda and bet on racehorses—and conducted dirty deals—with J. Edgar Hoover. Roy Cullen, an elementary school dropout, used his millions to revive the hapless Texas GOP. And Sid Richardson, the Big Four’s fun-loving bachelor, was a friend of several presidents, including, most fatefully, Lyndon Johnson. The Big Four produced offspring who frequently made more headlines, and in some cases more millions, than they did. With few exceptions, however, their fortunes came to an end in a swirl of bitter family feuds, scandals, and bankruptcies, and by the late 1980s, the era of the Big Rich was over. But as Texas native Bryan Burrough reveals in this hugely entertaining account, the profound economic, political, and cultural influence of Texas oil is still keenly felt today.

Winners Take All: The Elite Charade of Changing the World


Anand Giridharadas - 2018
    We see how they rebrand themselves as saviors of the poor; how they lavishly reward "thought leaders" who redefine "change" in winner-friendly ways; and how they constantly seek to do more good, but never less harm. We hear the limousine confessions of a celebrated foundation boss; witness an American president hem and haw about his plutocratic benefactors; and attend a cruise-ship conference where entrepreneurs celebrate their own self-interested magnanimity.Giridharadas asks hard questions: Why, for example, should our gravest problems be solved by the unelected upper crust instead of the public institutions it erodes by lobbying and dodging taxes? He also points toward an answer: Rather than rely on scraps from the winners, we must take on the grueling democratic work of building more robust, egalitarian institutions and truly changing the world. A call to action for elites and everyday citizens alike.

What You Are Getting Wrong About Appalachia


Elizabeth Catte - 2018
    Journalists flocked to the region to extract sympathetic profiles of families devastated by poverty, abandoned by establishment politics, and eager to consume cheap campaign promises. What You Are Getting Wrong About Appalachia is a frank assessment of America’s recent fascination with the people and problems of the region. The book analyzes trends in contemporary writing on Appalachia, presents a brief history of Appalachia with an eye toward unpacking Appalachian stereotypes, and provides examples of writing, art, and policy created by Appalachians as opposed to for Appalachians. The book offers a must-needed insider’s perspective on the region.

The Kelloggs: The Battling Brothers of Battle Creek


Howard Markel - 2017
    His youngest brother, Will, was the founder of the Battle Creek Toasted Corn Flake Company, which revolutionized the mass production of food and what we eat for breakfast.In The Kelloggs, Howard Markel tells the sweeping saga of these two extraordinary men, whose lifelong competition and enmity toward one another changed America's notion of health and wellness from the mid-nineteenth to the mid-twentieth centuries, and who helped change the course of American medicine, nutrition, wellness, and diet.The Kelloggs were of Puritan stock, a family that came to the shores of New England in the mid-seventeenth century, that became one of the biggest in the county, and then renounced it all for the religious calling of Ellen Harmon White, a self-proclaimed prophetess, and James White, whose new Seventh-day Adventist theology was based on Christian principles and sound body, mind, and hygiene rules--Ellen called it "health reform."The Whites groomed the young John Kellogg for a central role in the Seventh-day Adventist Church and sent him to America's finest Medical College. Kellogg's main medical focus--and America's number one malady: indigestion (Walt Whitman described it as "the great American evil").Markel gives us the life and times of the Kellogg brothers of Battle Creek: Dr. John Harvey Kellogg and his world-famous Battle Creek Sanitarium medical center, spa, and grand hotel attracted thousands actively pursuing health and well-being. Among the guests: Mary Todd Lincoln, Amelia Earhart, Booker T. Washington, Johnny Weissmuller, Dale Carnegie, Sojourner Truth, Henry Ford, John D. Rockefeller, Jr., and George Bernard Shaw. And the presidents he advised: Taft, Harding, Hoover, and Roosevelt, with first lady Eleanor. The brothers Kellogg experimented on malt, wheat, and corn meal, and, tinkering with special ovens and toasting devices, came up with a ready-to-eat, easily digested cereal they called Corn Flakes.As Markel chronicles the Kelloggs' fascinating, Magnificent Ambersons-like ascent into the pantheon of American industrialists, we see the cast changes in American social mores that took shape in diet, health, medicine, philanthropy, and food manufacturing during seven decades--changing the lives of millions and helping to shape our industrial age.

America's Bitter Pill: Money, Politics, Backroom Deals, and the Fight to Fix Our Broken Healthcare System


Steven Brill - 2015
    It’s a fly-on-the-wall account of the titanic fight to pass a 961-page law aimed at fixing America’s largest, most dysfunctional industry. It’s a penetrating chronicle of how the profiteering that Brill first identified in his trailblazing Time magazine cover story continues, despite Obamacare. And it is the first complete, inside account of how President Obama persevered to push through the law, but then failed to deal with the staff incompetence and turf wars that crippled its implementation.   But by chance America’s Bitter Pill ends up being much more—because as Brill was completing this book, he had to undergo urgent open-heart surgery. Thus, this also becomes the story of how one patient who thinks he knows everything about healthcare “policy” rethinks it from a hospital gurney—and combines that insight with his brilliant reporting. The result: a surprising new vision of how we can fix American healthcare so that it stops draining the bank accounts of our families and our businesses, and the federal treasury. Praise for America’s Bitter Pill   “A tour de force . . . a comprehensive and suitably furious guide to the political landscape of American healthcare . . . persuasive, shocking.”—The New York Times   “An energetic, picaresque, narrative explanation of much of what has happened in the last seven years of health policy . . . [Brill] has pulled off something extraordinary.” —The New York Times Book Review   “A thunderous indictment of what Brill refers to as the ‘toxicity of our profiteer-dominated healthcare system.’ ”—Los Angeles Times  “A sweeping and spirited new book [that] chronicles the surprisingly juicy tale of reform.”—The Daily Beast  “One of the most important books of our time.”—Walter Isaacson   “Superb . . . Brill has achieved the seemingly impossible—written an exciting book about the American health system.”—The New York Review of Books

The Address Book: What Street Addresses Reveal About Identity, Race, Wealth, and Power


Deirdre Mask - 2020
    But street addresses were not invented to help you find your way; they were created to find you. In many parts of the world, your address can reveal your race and class.In this wide-ranging and remarkable book, Deirdre Mask looks at the fate of streets named after Martin Luther King Jr., the wayfinding means of ancient Romans, and how Nazis haunt the streets of modern Germany. The flipside of having an address is not having one, and we also see what that means for millions of people today, including those who live in the slums of Kolkata and on the streets of London. Filled with fascinating people and histories, The Address Book illuminates the complex and sometimes hidden stories behind street names and their power to name, to hide, to decide who counts, who doesn’t―and why.

The Curse of Bigness: Antitrust in the New Gilded Age


Tim Wu - 2018
    But concern over what Louis Brandeis called the "curse of bigness" can no longer remain the province of specialist lawyers and economists, for it has spilled over into policy and politics, even threatening democracy itself. History suggests that tolerance of inequality and failing to control excessive corporate power may prompt the rise of populism, nationalism, extremist politicians, and fascist regimes. In short, as Wu warns, we are in grave danger of repeating the signature errors of the twentieth century.In The Curse of Bigness, Columbia professor Tim Wu tells of how figures like Brandeis and Theodore Roosevelt first confronted the democratic threats posed by the great trusts of the Gilded Age--but the lessons of the Progressive Era were forgotten in the last 40 years. He calls for recovering the lost tenets of the trustbusting age as part of a broader revival of American progressive ideas as we confront the fallout of persistent and extreme economic inequality.

The Evolution of God


Robert Wright - 2009
    Through the prisms of archaeology, theology, and evolutionary psychology, Wright's findings overturn basic assumptions about Judaism, Christianity, and Islam, and are sure to cause controversy. He explains why spirituality has a role today, and why science, contrary to conventional wisdom, affirms the validity of the religious quest. And this previously unrecognized evolutionary logic points not toward continued religious extremism, but future harmony. Nearly a decade in the making, The Evolution of God is a breathtaking re-examination of the past, and a visionary look forward.

The Search for God and Guinness: A Biography of the Beer That Changed the World


Stephen Mansfield - 2009
    The water in Ireland, indeed throughout Europe, was famously undrinkable, and the gin and whiskey that took its place devastated civil society. It was a disease ridden, starvation-plagued, alcoholic age, and Christians like Arthur Guinness as well as monks and even evangelical churches brewed beer that provided a healthier alternative to the poisonous waters and liquors of the times. This is where the Guinness tale began. Now, 250 years and over 150 countries later, Guinness is a global brand, one of the most consumed beverages in the world. The tale that unfolds during those two and a half centuries has power to thrill audiences today: the generational drama, business adventure, industrial and social reforms, deep-felt faith, and the noblebeer itself."Frothy, delicious, intoxicating and nutritious!No, I'm not talking about Guinness Stout I'm talking about Stephen Mansfield's fabulous new book...The amazing and true story of how the Guinness family used its wealth and influence to touch millions is an absolute inspiration." Eric Metaxas, "New York Times" best-selling author"It's a rare brew that takes faith, philanthropy and the frothy head of freshly-poured Guinness and combines them into such an inspiriting narrative. Cheers to brewmaster Stephen Mansfield! And cheers to you, the reader! You're in for a treat." R. Emmett Tyrrell Jr., Founder and editor-in-chief of "The American Spectator""