What Happened to WeWork? The True Story Behind 'WeCrashed

What Happened to WeWork? The True Story Behind 'WeCrashed

Recent highlights:

1. While you could rent a desk for as long or, crucially, as little as you liked, WeWork had to pay the whole rent for the space regardless — meaning the company began to bleed cash.

2. Neumann pitched WeWork as a movement and ran his company accordingly.

3. Despite broadcasting themselves as the next tech firm to shake up our lives, WeWork was actually an old school real-estate firm, which meant the huge cash injections they received didn't go as far as they would in the tech firms they were modelling themselves on, as they had all the IRL overheads of old-school landlords.

4. Next, the company shed the equally controversial 20 family and friends of the founder — including Neumann's wife Rebecca — who worked at WeWork

#biyro #losangeles #entrepreneur #brooklyn #austin #newyorkcity