"Oh no, not me
I never lost control
You're face to face
With the man who sold the world."
When you're really good, they call you Cracker Jack. Or Adam Neumann. They say luck is where preparation meets opportunity and in the high-stakes world of venture capital, Mr. Neumann was prepared for his opportunity in front of Masayoshi Son of SoftBank's Vision Fund.
If you haven't been reading about WeWork and its charismatic founder Adam Neumann, you should. It's an amazing tale, no matter who writes about it. Last weekend's New York Times Magazine story, "Adam Neuman and the Art of Failing Up" highlighted my favorite part, the ultimate salesman part.
"Famously, in 2017, Mr. Neumann spent just 12 minutes walking Mr. Son around WeWork’s headquarters, prompting an investment of $4.4 billion."
12 minutes.
Two years later the IPO fails and Neumann walks away worth $1BN. That, my friends, is Cracker Jack selling. The ultimate understanding what your customer not just wants, but desperately needs. Then making it happen. Softbank needs bigger than big, government-sized, moonshot-like opportunities and Mr. Neumann was there to fill the need. He was one of the first and fastest investments and maybe the last of his kind because Mr. Son won't be as eager to extend so much founder control next time.
While not as impressive as convincing the world that you don't exist (a la Keyser Söze or the Devil), it's still impressive in its own right. . .as well as a reminder there may be a few lottery tickets in your life, so be alert!
(and as the thousands of soon to be laid off WeWork employees may tell you, if your lotto ticket depends on riding some other Cracker Jack's wave, it's probably wise to manage the downside)
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