published in The New Yorker
Duhigg reports on SPACs, or special-purpose acquisition companies, "which are among the fastest-growing financial instruments in the world." Although they are not quite mainstream, Duhigg looks at probably their most vocal, and well-known, champion: Chamath Palihapitiya. While some see SPACs as a way to bypass regulation and open up investing to ordinary people, others see them as a dangerous mechanism ready to pop at any moment.
1208 days ago
published in The New Yorker
The WeWork scandal is now well-known throughout society, but Charles Duhigg wants to know how something like this could have happened. By interviewing board members, executives, and employees from the company, he paints a scary picture: venture capitalism has changed dramatically in recent years. An industry that once started off with admirers from both business and academia alike has shifted into another beast entirely. By trying to find the next "unicorn," venture capitalists will fight to the bitter end, destroying nearly everything in their path, just to collect that profit.
1403 days ago