This Week in Startups E1130: “Billion Dollar Loser” Author Reeves Wiedeman on WeWork’s epic rise & crazy collapse, Adam Neumann’s unique behavior, hypocrisy, red flags & more
Oct 27, 2020
Reeves Wiedeman, author of 'Billion Dollar Loser,' delves into the meteoric rise and fall of WeWork and the eccentric behavior of its co-founder, Adam Neumann. He reveals the chaotic dynamics of startup funding and the tensions between ambitious leadership and investor caution. The discussion highlights the unsustainable choices and toxic culture at WeWork fueled by excessive partying. Wiedeman also explores Neumann’s complex personality, touching on the balance between visionary ambition and derangement. It’s a cautionary tale wrapped in intriguing anecdotes.
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Green Desk's Success
- Adam Neumann's Green Desk, an eco-friendly co-working space, thrived after the 2008 financial crisis.
- Its success led to a buyout offer from the landlord, validating the co-working model.
WeWork's Initial Appeal
- WeWork's initial model addressed the need for flexibility among startups and freelancers after the 2008 crisis.
- This adaptability filled a gap in the real estate market by offering short-term leases and scalable office sizes.
Regis's Challenges
- Regis, a similar co-working space, faced challenges during recessions due to market oversaturation.
- This historical parallel raised concerns about WeWork's long-term viability.
