Intelligence Squared Billion Dollar Loser: The Epic Rise and Fall of WeWork
Dec 17, 2020
Reeves Wiedeman, a contributing editor at New York Magazine, delves into the dramatic history of WeWork and its founder, Adam Neumann. He reveals how Neumann's charismatic vision reshaped office culture but ultimately led to disillusionment as the company's grandeur crumbled. Wiedeman discusses the pivotal role of private investors in inflating WeWork's valuation and the consequences of its excesses. The conversation highlights valuable lessons on the risks of aggressive growth strategies and the need for sustainable practices in startup culture.
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Arm-Wrestling Resolution
- Adam Neumann and Jared Kushner arm-wrestled to resolve a real estate dispute.
- Neumann, bragging about his Israeli Navy arm-wrestling experience, won twice.
WeWork's Lofty Mission
- WeWork's mission focused heavily on community and changing the world, not just office space.
- This lofty mission, mentioned frequently in their IPO filing, attracted investors and employees.
Unconventional Celebration
- To celebrate closing a deal, Adam Neumann took investors to a WeLive rooftop, served tequila shots, and sprayed them with a fire extinguisher.
- This unconventional celebration highlights Neumann's unusual approach to business.
