WeWork - The $47 Billion Disaster
5,016,491
Published 2019-11-20
From $47 Billion, to the verge of bankruptcy in just a matter of weeks. The WeWork disaster is a real roller coaster and it would seem that their erratic CEO Adam Neumann is mostly to blame.
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Script by Fil Zivko
Sources:
www.nydailynews.com/life-style/real-estate/wework-…
www.businessinsider.com.au/wework-ceo-adam-neumann…
www.wework.com/locations
www.businessinsider.com.au/weworks-adam-neumann-ne…
medium.com/@offices.thebrew/the-evolution-of-the-o…
techwireasia.com/2018/12/how-wework-uses-technolog…
qz.com/1687299/wework-ipo-reveals-that-40-percent-…
www.wsj.com/articles/this-is-not-the-way-everybody…
www.bloomberg.com/news/articles/2019-09-26/wework-…
www.forbes.com/sites/greatspeculations/2019/08/27/…
www.bloomberg.com/news/articles/2019-09-20/wework-…
www.businessinsider.com.au/wework-closes-wegrow-re…
wegrow.com/
craft.co/wework/funding-rounds
www.nydailynews.com/life-style/real-estate/wework-…
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Producer: Dagogo Altraide
Why are you still reading?
All Comments (21)
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You know it would be a scam/failure when there are: -Nonsense motivational slogans -Strange design furniture -Ukulele music
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The problem with a great majority of these "start-ups" is that they seem to like inventing problems to solve, instead of solving any actual problems.
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"Things were doing great for wework, until people started looking into the company" this is still the greatest line ever spoken on this channel haha
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My favorite WeWork story was in late 2020 when they published an article claiming “if your employees dont want to come back to the office it might show that theyre not very committed to their work or the company”. Very convenient coming from a company that rents office space lol
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"But Newman wasn't your typical startup founder" Narrator: he was
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I've worked for 4 start up firms and every single one had a greedy, self obsessed, narcissistic CEO.
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Adam's response at 9:16 is exactly why I wouldn't invest in Wework. If we don't have access to the numbers, how do we know that shady practises aren't happening?
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It's sad how difficult things have become in the present generation. I was wondering how to utilise some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to use what's left to invest, but I don't really know which way to go.
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If there's one sugardaddy in the world, his name is SoftBank.
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I'm about to start a business in the tech industry. It's a lemonade stand. Please, invest.
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“What is your business model?” “Raising global consciousness.” “How do you make money doing that?” “It’s not about money, it’s about changing the world.”
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I am trying to avoid making any new buys at this point in other not to get sucked into a bear market trap.It's tough making money in stocks when institutional investors are the driving force behind the selling.. although I read an article of people that grossed profits up to $150k during this crash, what are the best stocks to buy now or put on a watchlist?
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I’m actually glad this happened, their ads were super annoying.
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This one of those things that for a split second sounds like a good idea, and then realise that cafes and libraries exist
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Moral of the story: create a scam, be too big to fail, run company into the ground, Walk away with 1.7 Billion Dollars
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WeWork's greatest hustle was convincing investors it was a tech company.
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Those images of photogenic 25 year old's "collaborating" at co-working spaces is like crack to wannabe entrepreneur types.
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if you ever feel bad, remember some guy invested $8 billion in this company
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It's one thing to not be a fan of wearing a suit and tie but walking around the office without showering after a workout is something completely different. No CEO should EVER do something like that.
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"No access to their numbers, no idea of their business model.." Bruh, you went public. We literally have the numbers right here
