The problem with making a documentary about an artist is that it’s hard not to get him into trouble. WeWork: The Birth and Disappearance of a US$47 Billion Unicorn Company The co-founder Adam Neumann, who focused on WeWork’s booming development, eventually lost the plot.
As you may remember, WeWork caused a huge scandal about the disclosures in the S-1 documents required for its IPO. (The company is now trying to use SPACs for public offerings, which means that others besides the SEC are also conducting due diligence.) We workPremiering on Hulu on April 2, director Jed Rothstein briefly introduced the events surrounding the troubled company-but many of the weird details that made the WeWork story so fascinating were missing.
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In this way, the movie made the same mistake as Reeves Wiedeman. Billion dollar loser Indeed: it conceals the weirdness of WeWork. If Adam Neumann turns a profit, he may be allowed to continue smoking and invest in the wave pool forever. When WeWork emerged, his quirks were seen as proof of his genius. (Steve Jobs is also weird!) The story is not Adam—it’s a dysfunctional business.
To its credit, it provides a value proposition for WeWork.Look, 2008 is real estate Crisis-Although we still remember the housing crisis, commercial real estate also collapsed. WeWork is a high-risk arbitrage game: Sign long-term leases of bad assets at low interest rates, design cute workspaces, and then charge people. WeWork’s insight lies in designing in a way that caters to the millennial generation: delicious coffee, warm decoration, delicious food.
Unfortunately, this documentary did not stop at real estate. If Rothstein does this, there will be more details on how WeWork rents buildings from Adam Neumann. Ideally, the change of WeWork’s name to The We Company in January 2019 will also be reflected. The move cost WeWork US$5.9 million, which was taken care of by We Holdings LLC, which is controlled by Adam Neumann and Miguel McKelvey. (The transaction was later cancelled.) Both related-party transactions need to be approved-it’s nice to know how these meetings are going and the participants.
Instead, as part of the S-1 scandal, these major red flags are briefly mentioned at the end. Instead of harsh reports, we got many Adam shots and generalizations about millennials. For many disadvantaged young people, WeWork is a trustworthy thing. This film is not the first time that WeWork has been compared with a cult, and it will not be the last one. (title Wall Street Journal Journalists Eliot Brown and Maureen Farrell’s upcoming book is Our worship)
This good company was not uncommon at the time.This is the characteristic of Anna Wiener Uncanny Valley, and also. The woo-woo atmosphere of WeWork comes from Rebekah Neumann, who is the operator of WeGrow, the school department of The We Company. Rebekah studied at the Kabbalah Center and had Adam attend the meeting. This spirit is good for business, because the Kabbalah headquarters was also where Adam met early investors such as Ashton Kutcher. It can be said that without Rebekah’s influence, WeWork will not be able to give full play to the beliefs of its employees.recent We work To explain that this is a shot, we catch a glimpse of a red string bracelet on Adam’s wrist.
One consistent feature of reporting on Adam is that he is said to be charismatic. But this movie does not show a charismatic leader, just a repeating leader. That’s the limitation of the lens: Adam knows all the content that was filmed, and it was all used for WeWork public relations activities. Such shots would not include, for example, all employees at night. Neumann talked about firing 7% of employees—and then distribute the shots so that Darryl McDaniels of Run-DMC will perform including “It’s Tricky” “Scene. To get such anecdotes, you must talk to the people there. The documentary did a little bit, but the employees were not fully utilized.
Although we saw the company’s first whistleblower, Joanna Strange, her appearance was short-lived-the documentary did not mention that WeWork sued her, or even sued the FBI. (In fact, although the court system is surging in WeWork litigation, we rarely mention any legal proceedings.) Strangeness is one of the main reasons for this situation Bloombergof founder A podcast detailing the company’s costs for its employees. Her recording played on the podcast showed us Adam’s voice when he didn’t know he was on the record-and included more comments from WeWork employees.
I also hope to hear more about WeLive, which sounds like a college dorm in your twenties. Bonds are clearly nervous. If you have friends outside of WeLive, they will come over once and never come back. Gradually, people living in WeLive formed a closed community.I will Be loved Learn more about who chooses to live there and why. Hell, WeLive may be its own documentary. I am also very happy to hear the news of one or three WeGrow parents.
The worst is the ending of the movie. You will see that all the people interviewed are talking about the importance of community while wearing masks-because, of course, this was filmed during the pandemic.
This is the thing: the community Yes powerful! After all, this is the way to connect people with cults, even if they are suffering from suspicion. Cult members are not stupid; cult expert Janja Lalich (Janja Lalich) said that they are usually educated and responsible people who want to do good in the world. They are just vulnerable-like people in their twenties who have never worked before and do not know the normal conditions of the workplace.
the end We work The boring clichés about the importance of the community also sold WeWork employees. These people are usually very young and work very hard, so they have little time for work. This makes them subject to their colleagues, who are the only form of community for many people, and makes it harder for them to resign. After the IPO exploded, Adam was given a golden parachute, and these diligent employees found their stock options worthless. They should get better benefits from WeWork. They should also get a better performance from this documentary.
WeWork’s expansion rate is so fast that it often fails on the first day of office opening. Facts have proved that the carcinogenic smoke in the phone booth is the tip of the low-quality iceberg. (founder It best illustrates the common horrors handled by WeWork employees: the beer barrel disaster, the opening of a building without a bathroom, the use of condom packaging in annoying places, and thunderous rats. ) We work It feels like a rush to try to slap archived videos together and tell a story. Crazy guy. If I were McKelvey, or a member of WeWork’s board of directors, or anyone else who should control Adam Neumann—I will breathe a sigh of relief: I am out of trouble. Just like WeWork itself, Rothstein’s films mainly provide bombing effects, with almost no substantive support.