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WeWork: A $20 Billion Startup Fueled by Silicon Valley Pixie Dust

When Adam Neumann pitches potential investors on his startup, WeWork Cos., he likes to rev them up with a jaunt through his company’s shared office spaces.

Before arriving, the 38-year-old chief executive typically sends staffers a directive: “Activate the space.” WeWork’s employees swarm a lounge to host an impromptu party with pizza, ice cream or margaritas.

When...


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