Good Bad Billionaire Adam Neumann: The cult of WeWork
8 snips
Sep 19, 2023 
Adam Neumann, founder of WeWork and former CEO who reimagined the millennial workplace, talks about how he talked investors out of billions of dollars, the rise and fall of WeWork, and the impact of COVID-19 on his business model.
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Adam's Lavish Spending Spree
- Adam Neumann spent wildly at WeWork's peak, buying a $60 million jet and throwing lavish office parties.
- He made employees do tequila shots during meetings, blending business with partying.
Recession Boosted WeWork's Start
- The 2008 financial crisis created a unique opportunity for WeWork's co-working spaces to thrive.
- People sought cheaper, flexible office solutions during economic downturns, fueling WeWork's initial success.
WeWork's Tech Illusion
- Neumann convinced investors WeWork was a tech company, inflating its valuation.
- Despite being primarily real estate, he pushed a tech narrative for higher investment multiples.