Acquired The WeWork “Acquisition” (with Dan Primack)
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Oct 25, 2019 Dan Primack, a journalist from Axios renowned for his insights on WeWork, recounts the dramatic saga of the We Company. He delves into WeWork's rise to a $47 billion valuation and its startling fall, highlighting the surreal decisions like rewarding ousted CEO Adam Neumann with a $1.7B parachute while employees faced layoffs. The discussion also explores the company's governance issues and investment dynamics, providing a captivating look at how ambition can lead to corporate tragedy.
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Adam Neumann's Early Ventures
- Adam Neumann's early ventures included collapsible women's heels and baby clothes with built-in knee pads.
- These failed, but showcased his entrepreneurial spirit and New York-centric approach.
Miguel McKelvey's Background
- Miguel McKelvey, WeWork's co-founder, grew up in a hippie commune and studied architecture.
- He moved to Tokyo and co-founded EnglishBaby, a language learning social network.
Green Desk's Origin
- McKelvey moved to New York and joined an architecture firm designing American Apparel stores.
- He met Neumann, and they started Green Desk, subleasing office space in Dumbo.