The world is changing in radical ways. For your career to survive and thrive, you need to embrace the ancient wisdom of the Stoics.
On August 14, 2019 WeWork founder Adam Neumann was on top of the world. Having just filed the paperwork to take his startup public, Neumann was as curious as anyone else to find out how much higher his stock could go. A last round of investment valued the company at a whopping $47 billion. Even the sky, it seemed, wasn’t the limit. Maybe he really was on his way to achieving his dream of becoming the world’s first trillionaire.
Barely a month later Neumann was unemployed, walking the streets of New York City, literally barefoot. Ousted from the company he created, with at least $40 billion completely wiped from WeWork’s “value,” he was finished. But where had he gone wrong?
WeWork appeared to be a purpose-driven company that sought to “elevate the world’s consciousness” by creating a different workplace for a different way of working. And yet, at the end of the day, WeWork better exemplified the zero-calorie sugar high of social media than the corporate sustainability it seemed to espouse. This gulf between image and reality was to be WeWork’s, and Neumann’s undoing.
Cut to 2008, on the other side of the United States. Two roommates struggled to make rent on the small apartment they shared. Both recent grads of the Rhode Island School of Design (RISD), their desperation gave birth to a small but tantalizing idea. They knew a big design conference was coming into town that would overwhelm the city’s hotels. Thinking quickly, they mapped out the extra space in their small apartment and determined they could squeeze in an additional three air mattresses on the floor. Airbedandbreakfast.com, later shortened to Airbnb, was born.
That first experience was a revelation for the friends. Not only hosting, but truly befriending their guests showed them the potential of this new concept. A few years later the roommates would travel to India to attend the wedding of one of those first guests. By that time, they were all well on their way to becoming billionaires.
These companies seem similar, and yet their fates and that of their founders couldn’t be more different. Why is this? Only the Stoics can explain. “The time will come when diligent research over long periods will bring to light things which now lie hidden,” Seneca wrote so long ago. That time is now.
What the Airbnb boys understood and embraced is that as we enter the 21st Century we have moved away from the world of 20th Century materialism and are instead moving into an era focused on the human experience. As more and more people shun the possessive nature of materialism, and instead value the experience that goods and services provide them, forward thinking businesses, entrepreneurs, and employees are learning that building for future success means serving a mission, not just delivering a product or service. When faced with disasters globally, the Airbnb team have been quick to react in a way that may not earn them additional money, but that delivers on their commitment to community. Examples range from the all-night hackathon after Hurricane Sandy that enabled those displaced to find free housing through the platform, to a similar response to COVID-19 that is enabling first responders to access free and subsidized housing, and a $17 million Superhost Relief Fund seeded with $9 million of the Co-Founders’ own money to help those hardest hit by the pandemic.
On the other side of the coin, WeWork’s founder and former CEO, despite deploying all of the right buzzwords about community, was mostly thinking about himself and what he could get. His questionable behaviors ranged from personally borrowing money from the company in order to buy real estate that he then leased back to WeWork for a premium, to selling the “We” brand to the company for millions when he decided to rebrand as “The We Company,” to his $1.7 billion exit package, negotiated even as the company was laying off thousands of employees. They say there is no “I” in “team,” but for Adam Neumann, his upside-down view of “we” most definitely came out as “me.”
Stoicism at Work is here to make the case that the defining difference between these two businesses and the people who built them, and the defining difference between sustained success and ultimate failure in the 21st Century, is not just in understanding, but also in embracing, embodying, and living an ancient philosophy.
The difference is Stoicism.
Take for example Seneca’s statement: “I am not born for any one corner of the universe; this whole world is my country.” Every day we are reminded of just how interconnected the world has become. As such, this cosmopolitan mindset is crucial successfully scaling globally, and to doing so quickly. An online marketplace, Airbnb connects hosts from Austin, TX to Abuja, Nigeria. Whereas WeWork, despite its corporate-speak to the contrary, runs their business like a string of local real estate companies—“real” meaning immobile.
Or take the advice given by another Stoic philosopher, Epictetus, who advised: “If you wish to be rich, do not add to your store of money but subtract from your desires.” The entire ethos of Airbnb’s business has been to get away from the need for ownership, and instead create, scale, and support the access when and where it is needed. As a society, we do not need to go build more hotels. We can use the spaces we already have already more efficiently.
In stark contrast Neumann and WeWork tried to convince companies and their employees that they don’t need their own office space, then they loaded them up with perks nobody actually needed--from nitro cold brew coffee on tap to craft kombucha beer to tequila, Neumann’s personal fave. In old school fashion, they tried to whip up new wants instead of subtracting from the unnecessary.
Stoicism at Work is a blueprint for the future, created through an analysis and synthesis of the ancient past, with Marcus Aurelius, Seneca, and Epictetus as our guides.
And it works.
History does not necessarily repeat itself, but it does rhyme. For the reader, this book and the lessons herein will make the difference in the final word of the epic poem that is your own journey, as we choose to “prevail” instead of “fail.”