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The Story of Money

How WeWork really works

The Story of Money

Manuela Saragosa

Business, Crypto, Markets, Finance, Banking, Investing, History, News

4.4400 Ratings

🗓️ 15 May 2018

⏱️ 21 minutes

🧾️ Download transcript

Summary

The co-working and office providing company set out to create the office of the future and has caught the attention of big investors, including SoftBank's Vision Fund. Will office subleasing open the door to profit for WeWork? With FT guests Dan Thomas and Alex Scaggs. 


Read more from Dan and Alex at FT.com. Music by Podington Bear. 


Hosted on Acast. See acast.com/privacy for more information.

Transcript

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0:00.0

Am I missing anything? Is this the right decision?

0:02.0

Is this a connection?

0:03.0

Are I too late?

0:05.0

Find clarity in your investment decision-making.

0:08.0

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0:12.0

with the ultimate blend of powerful AI and

0:14.6

industry expertise.

0:16.5

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0:21.1

facts, not opinions.

0:23.0

Clarity AI scaling human decisions through tech.

0:26.6

Visit clarity.

0:28.0

Aye and take action today. Hello and This is a podcast where my F.T. colleagues, their sources and I dig into the big business and financial

0:45.2

news of the moment.

0:46.9

And getting to the stories behind the headlines.

0:50.4

This week on the show, how we work really works.

0:54.0

The co-working and office-based company set out to create the office of the future.

1:03.0

We're changing the way people work.

1:05.0

And they've caught the attention of big investors like Soft Bank along the way.

1:10.0

But what does the business of office sub-leasing mean in terms of dollars and cents? In 2010, Adam Newman and his partner Miguel McElvey set up a company with the small goal of changing the way people work.

1:37.5

They leased some space in an office building in New York, did some renovations,

1:41.3

and turned around and rented out the updated space to new tenants.

1:48.6

Eight years later, W-Wework has opened buildings or what they like to call communities in more than 60 cities.

...

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