The Spectacular Rise and Fall of WeWork

The Daily

The New York Times

News, Daily News

4.3 • 107.6K Ratings

🗓️ 18 November 2019

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

It was one of the most valuable start-ups in the United States, with bold plans to revolutionize how and where people worked around the world. Today, we look at how the dream of WeWork crumbled — and explore the story of the man responsible for the wreckage. Guest: Amy Chozick, a writer at large for The New York Times covering the personalities and power struggles in business, politics and media. For more information on today’s episode, visit nytimes.com/thedaily. Background reading:Adam Neumann had an inexplicably persuasive charisma and a taste for risk. Then he found a kindred spirit with an open checkbook.WeWork is preparing to eliminate at least 4,000 employees, cutting nearly a third of its work force in an effort to staunch further financial losses.

Transcript

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0:19.0	variety of expertise.
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0:25.6	From New York Times, I'm Michael Barbaro.
0:32.6	This is The Daily.
0:39.6	Today it was the most valuable start-up in the United States with plans to revolutionize
0:46.5	how and where people around the world worked.
0:51.2	Amy Chosen on the spectacular rise and fall of WeWork and the story of the man behind
0:58.6	it all.
1:02.5	It's Monday, November 18th.
1:08.5	Amy I wonder if you could read this letter that WeWork employees sent to their bosses.
1:14.9	Sure.
1:15.9	Here's what they wrote.
1:18.4	To the We Company Management team.
1:20.9	WeWork's company values encourage us to be entrepreneurial, inspired, authentic, tenacious,
1:27.4	grateful, and together.
1:29.3	Today we are embracing these qualities wholeheartedly as we band together to ensure the well-being
1:34.9	of our peers.
	...

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