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WeWork: Or the Making and Breaking of a $47 Billion Unicorn
One of America’s latest and greatest cautionary tales about the perils of too much money and not enough sense is the rise and fall of WeWork, the glorified office rental service that raised billions of dollars from credulous investors who fell for founder Adam Neumann’s big-talking b.s. about creating a world in his own hard-partying, messianic image. The company’s implosion from having a valuation larger than the economy of a small nation to one less than the billions of dollars invested is the biggest collapse in start-up history. you’ll be horrified that anyone fell for this, let alone supposedly sophisticated people with billions to burn. It’s like Elizabeth Holmes and Theranos, except instead of medical technology that not everyone could understand, even the most blinkered Robinhood trader could look at WeWork’s business and see it made no sense. It’s a documentary with the arc of a Scorsese movie.