Foundering
WeWork Part 6: IPO -- Just Kidding
Jul 23, 2020
WeWork's failed IPO and the dramatic downfall of the company are explored in this episode, delving into the questionable actions of CEO Adam Neumann, the power struggle within SoftBank, and the controversial decisions leading up to the IPO flop.
41:58
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Quick takeaways
- WeWork's IPO failure was a result of governance issues, conflicts of interest, and negative media attention.
- The plummeting valuation of WeWork during the IPO process led to a power struggle between Adam Neumann and SoftBank, resulting in his removal as CEO.
Deep dives
The Decline of WeWork's IPO
WeWork's IPO was marred by negative news and a disastrous S1 document that revealed various conflicts of interest and financial struggles. Adam Neumann, WeWork's CEO, faced backlash for selling the trademark to the word 'we' to his own holding company and engaging in other unethical practices.
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