Chapter
The Distorted Story of WeWork's Rise and Fall
12:53 - 19:38 (06:44)
WeWork started as a simple business to lease out office spaces but eventually became a community company under the mission statement of elevating the world's consciousness. However, its spectacular IPO failure in 2019 revealed a distorted story of its rise and fall.
Clips
WeWork, an office-sharing company, went from being a successful start-up to one of the most spectacular IPO failures in history.
12:53 - 17:29 (04:35)
Summary
WeWork, an office-sharing company, went from being a successful start-up to one of the most spectacular IPO failures in history. What started as a simple business during the 2008 recession, leasing out spaces to people, eventually developed a grander mission statement of elevating the world's consciousness through community building, leading to excessive spending and a lack of focus.
ChapterThe Distorted Story of WeWork's Rise and Fall
Episode#238 - Reeves Wiedeman - The Catastrophic Story Of WeWork
PodcastModern Wisdom
The CEO's charisma and charm play a significant role in acquiring investors for an IPO, as investors are not only buying the company's numbers but also the personality and vision of the CEO.
17:29 - 19:38 (02:08)
Summary
The CEO's charisma and charm play a significant role in acquiring investors for an IPO, as investors are not only buying the company's numbers but also the personality and vision of the CEO. This is especially true when meeting with institutions such as Fidelity who have the potential to invest a billion dollars.