WeWork - The $47 Billion Disaster

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.

I've worked for 4 start up firms and every single one had a greedy, self obsessed, narcissistic CEO.

"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

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

You know it would be a scam/failure when there are: -Nonsense motivational slogans -Strange design furniture -Ukulele music

I'm about to start a business in the tech industry. It's a lemonade stand. Please, invest.

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?

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?

"But Newman wasn't your typical startup founder" Narrator: he was

If there's one sugardaddy in the world, his name is SoftBank.

“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.”

Moral of the story: create a scam, be too big to fail, run company into the ground, Walk away with 1.7 Billion Dollars

This one of those things that for a split second sounds like a good idea, and then realise that cafes and libraries exist

I’m actually glad this happened, their ads were super annoying.

WeWork's greatest hustle was convincing investors it was a tech company.

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.

I worked in a WeWork building for 2 years. I was blown away at the amount of waste. They had about 4x the staff than was needed. They paid companies to come water their plants... while a WeWork employee 'escorted' them through the building and just stood and watched them water plants. That my friends is the tip of the iceberg. I kept telling everyone "WeWork is not a financially viable business being run this way! It's going to go the way of the dinosaurs". Flash forward to 2020...

if you ever feel bad, remember some guy invested $8 billion in this company

I know this is an old video, but interestingly enough shared offices actually gained traction in Japan during COVID when more people started working remotely. But one of the reasons is that Japanese houses tend to be very small in big cities (a very typical house for a single person here is often 18/20sqm), so many people don’t have a dedicated space to work at home (some houses I lived in barely had space for a table!). Also, unlimited internet connections usually come with long term contracts, so it makes sense to rent a office, especially if you think your company will call off remote work as soon as they can. SoftBank dude was right, just got the country/timing wrong 😂

I remember a very tech savvy, younger guy in our shop coming and telling me about this company and how it was going to revolutionize work and commercial real estate. I thought about it for a good 5 minutes, and then pretty much wrote it off as the dumbest fucking thing I'd heard in my entire working life. It seemed from the outset like solving a problem no one had, using a method no one who's serious about work or growing a business would feel comfortable with, and look at that - I was right. If I, just a normal dude who's worked a lot in my life for and with companies who grow, could see it - a LOT of people could see it. Unfortunately, dreamy-eyed investors and clueless young people didn't see it and the idea got sold. Collaborative open spaces are great for kindergartners. Not so much for smart, productive adults who need to bear down and get shit done. This was a commercial frat party for people who justify what they do.