What ACTUALLY happened with WeWork? - Company Forensics- We don't just make videos. Try our presentation app for free! ► https://slidebean.com/youtube - More Forensics episodes ► https://www.youtube.com/watch?v=wcUxlFpDgOU&list=PLnhdsL4kFmVYFpR-gVUhvDGlwsKpXtfU6What happened to WeWork?If you are in the startup world, you must know about WeWork. Chances are you are actually sitting in one, right now.Officially the 'We Company' was founded in 2010 and VERY QUICKLY expanded to 836 locations (as of this writing), 15,000 employees, and over half a million members.It's the bright and classic startup Unicorn story. Except it isn't.In mid- 2019, the company filed the documentation to prepare for an IPO (Initial Public Offering), that is, to begin trading in the stock market. This required them to publish their so-far secret financials.Once the world had a look at their numbers, everyone quickly realized that the company founder and CEO, Adam Newman, had been selling smoke and mirrors. The company was not only far, far from being profitable, but Adam had been living an eccentric executive life that was costing the company millions.The CEO was ousted. The valuation of the company went from a shocking $75B to an estimated $8B or less, and SoftBank, their lead investor, is preparing to rescue/acquire/take control of the company to save it from oblivion.In this video, we are going to dig into the We Company story, their rise, and downfall, and of course, what lessons we can learn from them.This is a new series we call- Startup Forensics.#wework #startups 01:35 History of WeWork 04:31 Tech vs.Non-Tech Companies 07:42 The Downfall Want Caya to wear your Startup T-Shirt in the next video? Send it to us!: http://bit.ly/2MJRxAM ► Don’t forget to subscribe to our channel here! http://www.youtube.com/subscription_center?add_user=slidebean ► Read the article: http://bit.ly/2r4FhCK --Thank you for watching this video. We really hope you found it useful. Give us a like if you found this useful and let us know in the comments what you think.--- About Us: Slidebean is a pitch deck creation tool with hundreds of templates available to use as a starting point. Thousands of companies have used our platform to pitch investors and raise capital.---- Follow Slidebean: Facebook: https://www.facebook.com/slidebean Twitter: https://twitter.com/slidebean Instagram: https://www.instagram.com/slidebean Linkedin: https://www.linkedin.com/company/slidebeanFollow Caya: https://twitter.com/cayahere and https://instagram.com/caya_hereTurn on notifications for the podcast & rate it a 5-star for new episodes.Sidebean makes documentaries about startups, tech, and their impact on society. It is a venture-backed company that helps other startups navigate the complicated road to success. They love to cover stories around business, startups, and tech, trying both to teach and entertain.Subscribe to Sidebean on YouTube: https://www.youtube.com/@slidebean/ Disclaimer: This podcast is an independently produced audio adaptation of content originally shared by Sidebean. It was created by a fan who appreciates Sidebean’s thoughtful storytelling and wanted to make these ideas more accessible for audio-focused listeners. This is not an official production of Sidebean, nor is it affiliated with or endorsed by the channel. All rights to the original video content belong to Sidebean. If you are a representative of Sidebean and have any questions or requests, please feel free to reach out. --------- Keywords: tech industry, ai ethics, startup stories, openai, startup funding, tech startups, tech society Learn more about your ad choices. Visit megaphone.fm/adchoices
