The Daily The Spectacular Rise and Fall of WeWork
Nov 18, 2019
Amy Chozick, a writer at large for The New York Times and expert on corporate drama, dives into the meteoric rise and dramatic fall of WeWork. She unpacks the charismatic yet controversial leadership of Adam Neumann, whose bold vision turned a collaborative workspace dream into a corporate nightmare. Chozick highlights the stark contrast between employee aspirations and Neumann's reckless management that led to massive layoffs and investor disillusionment. The discussion sheds light on the perils of ambition unchecked and the lessons learned from WeWork's saga.
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Early Ventures
- Adam Neumann, WeWork's founder, initially pursued various entrepreneurial ventures before co-working.
- These included women's shoes with collapsible heels and knee pads for babies.
Rise of Coworking
- WeWork's co-working model emerged during a startup boom, offering sleek spaces with amenities.
- This catered to millennials who viewed themselves as entrepreneurs needing a dedicated workspace.
WeWork's Vision
- Adam Neumann envisioned WeWork as a "capitalist kibbutz," blending community with ambition.
- He aimed to create a space where people not only made a living but also "made a life."