Talking about sustainability in the business

ur gay

2020

Look even worse now.

Haha, it's even worse now. At least they can blame Corona now for their already inevitable bankruptcy.

Chuk chuk, chuk chuk, chuuuuu, chuk chuk, chuk chuk, boooom! 😂

What a fraud...

lol

well.... technically he already gain enough profit... not so much for the company lol

@@alponselrik in other words he robbed his company of all it's money.

@@freedomfest2741 I don't really think resent is anywhere on his mind. He has earned more money than he will ever be able to spend. He is like a scam artist who has made it, which is even more depressing.

His wife seems to be a similar control freak narcissist already.

This is epic startup fell(which is natural) theranos was scam

He's better than Elizabeth Holmes because he's still worth hundreds of millions.

@@YoosufMuneer and he is not behind bars

Indeed.

It couldn't be said any better than that LO!!

He got the name wework because it stands for, my wife and I, wework to scam this company out of every penny.

@@freedomfest2741 LOL!

Scam investors, but yea

Adrian Hibert why is that?

the business of business. Speaking of which my local library rents out rooms for $3 an hour.

He was a Salesman. His job was to pitch to investors. It worked at first, but then stories started leaking out about just lack of leadership and drug usage. Plenty of extremely successful entrepreneurs who barely finished high school.

Chris G get off his balls son. Hes a con artist. Plenty of drop outs at McDonalds too.

@@basitk12 Get off who?! I don't like the guy. What are you talking about? Con artist, salesman, etc. Call it what you wanna call it

Nearly every investor...............

SoftBank.

softbank. who else?

To be fair it wasn’t much different from other venture backed companies like Uber. They pursued market share at the expense of profits on purpose. Unfortunately, they ran out of funding and had to go public which opened them up for ridicule.

@@lavs8696 I agree. They badly mismanaged themselves, but dont you agree that it was technically a good business concept? I give them credit for that.

@@dynamicdave2647 well they weren't the first, they just had the highest capital. its incredibly competitive and capital intensive to achieve market share in that space. they basically undercut their competition to run them out of business in order to monopolize the market, bleeding cash in the process. This isn't unfamiliar with other VC backed companies, they were basically no different than Uber.

@@lavs8696 yes, but their business concept was that we can utilize office space better than most landlords.. and can make the office atmosphere more appealing and fun, all while making your membership/rent cheaper. That is a good concept. They just mismanaged themselves..

@@dynamicdave2647 they were far from the only ones who did that. every major city was littered with coworking spaces going as far back as 08/09

Because he scammed investors by funneling WeWork's money into his own pockets. He got WeWork to buy land from his OWN real-estate company at higher prices, he started businesses lead by his family members using WeWork's revenue, and he bought jets, houses, etc using investors' money. It's surprising he wasn't arrested or something.

They are losing money because they're growing the business. If they grew on profits it would grow very very slowly. It's not a good business. 40% margins aren't great when you're taking on those kind of long term risks. If short term leases were so profitable the building owners would do it themselves.

Lol

Neumann’s like Holmes & the Russian girl, Sorokin, using the same weasel words: innovate, curate space, create narratives for service, disrupt social culture, strategically analyse, initiate change, manifest & be a life student, empower people for a vision….edit: it’s like stabbing my ears with knives.

Today's headlines prove his Con worked afterall.... $1.7 Billion balloon

He must worked hard than u 😎😉 thanks

@@mirsondCA actually apparently they are suing him or it and have declined to pay him that amount

$500 for a personal office is not a bad deal.

@@pawelallable until you lose it because the contracts signed by those from whom you rent are void. Or if you adopt the lifestyle of drinking & carousing with people not in your business in order to make “connections.” Work from home instead. Cheaper, truer, easier. Not always -but a lot of the time compared with paying a landlord for a shoddy contract when in-house counsel exists for themselves.

@@cindytartt4048 even IF they ended your month to month contract on a location you did zero tenant improvement in, would that really be a HUGE problem? If we're talking about rare events anyway, you could have the same thing happen to your home unless you own it. I've known people that had to move because the house they were renting sold. $500 for a nice office is fair and no point in worrying about doomsday bs. If you go too far down that rabbit hole you won't even be able to do any business deals of any kind anyway because there are way bigger risks in those.

Guess it goes to show that you don't need people skills or brains to become a wealthy VC. Jack Ma is an example

@@ajsky1066 exactly, Hack Ma. Fu€£ me. 😁😉

It didn't change at all

We Broker

Like WeTheranos and WeNikola?

He's definitely good at what he does

Thick accent, drop out. Didn’t even have the discipline to complete bachelors and you would think he would create an empire.

Uri Geller of business.

😂

@@pitdog75 of the same persuasion certainly

hahaha. Listen to this bullshit. This guy is such a fraud, its almost hilarious. "Are you profitable?" "So...Um we are focusing on hyper growth at the moment." Absolutely no direct answers. What I feel bad for is the 5000 employees that are being laid off and the dumb ass landlords who paid the tenant improvement to get them in their buildings. F Softbank. Most of their money was from Saudi Arabia and Japan. lol

I think you’ll find that instead of just “disrupting” Work culture Adam wanted to disrupt fractions, percentages & arithmetic. And Euclidean geometry…😁

It's simple: the first statement refers to cubic meters, the second to square meters.

@@JanKosowski how do the percentages change?

@@cindytartt4048 It was a joke, but lobby is often much higher so it could work.

Hahaha. Faaarkk.

Simon March hahahahahahaha

wework was basically a pyramid scheme. it needed to attract new 'members' all the time to stay in business, just like a scam.

Simon: Very observant.

This is the most underrated comment and the more u think about it the more I think you're absolutely correct. Considering WeWorks other cofounder, Miguel, went to University of Oregon, in one of the weed friendliest cities in the US at the time, I can guarantee you he was familiar with this concept from his days in Eugene and I wouldn't be surprised at all to learn this entire concept was actually 100% his idea from the very beginning.

Actually u are not the only one who works there many people work at one place soo its wework

And boy did he ever get paid!

For a thousand years

@Daniel Washford I was right of course. www.wsj.com/articles/wework-faces-cash-needs-as-botched-ipo-scuttles-planned-infusion-11569846537?mod=hp_lead_pos1

Daniel Washford All profit? Lol In a recession they go bankrupt.

This guy’s an eff-wit but Rand, come on, she’s a Nazi.

if you want to watch presentations of tomorrow's train wrecks

Jesus, you sound like a bot.

L.O.fucking L.

Did Adam pay you $5 for that comment? If so you were really quite the sucker, considering how much he walked away with, you should have got $500 or at least a free couple of month's rent on a WeWork "hot desk." However, I'll bet you just drank the Kool-aid and did it for free.

Brainwashed cultist

WeWork’s losses quadrupled to $2.1bn (£1.47bn) in the first quarter as the pandemic-driven move to flexible working drove a 30% plunge in customers at the troubled office-sharing company.

Sorry, I read this as make ‘KZfaq spots with a troll- free number.” 😁🤪

Typical idiot sychophant type startup interviewer.

He is NOT a criminal !!!! He is AN amazing sales man ,ssssssssssssuper brilliant and super good looking 💙🤍🇮🇱🇮🇱🇮🇱🇮🇱🇮🇱🇮🇱🇮🇱

💙🤍🇮🇱

Hahahhahahah

Like Mr burns "excellent..."

It’s a way to see who’s using the coffee machine. That alone Is worth 19 billion.

@@timtreetwats also you can get live updates pushed to your iWatch of who is taking a huge shit in the nearest bathroom

Several flags right there: you say you’re pragmatic but Adam despised pragmatism in favour of nonsense like “be a life-student & whilst we have no money, the value of what we offer is enough for us to be a trillion dollar business from which we can TAKE US380 million.” They took this $$ from tenants & VCs. Then the ideal that no one understood how WeWork made you feel welcome but “no one else’ll understand” this. Total BS: all businesses SHOULD be welcoming at the very least & no one fails “to understand this.” And you can’t value something as a technology co. when it ISN’T one just because it’s members hope to. Finally, there are no “members,” but tenants. Anything else is a weasel word. The Neumanns lived weasel words like no other.

Ok There might be value in it as member user / tenant depending upon where your business is at anything to do with manufacturing start up be mechanical / Chemical such centralized office space won't be suitable.. so that means the target market is smaller restricted to soft services / design / consulting etc still there is a market ... but why you say that it is a technology company ... The serviced office is the core .. and that is what is major fixed cost .. sure they can provide services like web hosting, Tax an accounting services to compliment the tenant businesses but core is still renting service .. what we work members think is less important in that sense !

Hopefully with a prison sentence too.

1.8 Billion

only time will tell

I think that the only one having the last laugh right now is Adam. All the way to the bank.

Wework was a bubble from its inception. In a market of normalized rates, these skittle shitting unicorns would never have gotten off ground. Zero to near rates will continue to give birth to more mark to fantasy nonsense.

Creative accounting. The sad part is that they had a cool business model and could have easily been worth a reasonable amount, but this whole "startup" valuation did the opposite for their upside.

It’s because he actually believes this shit. They horribly mismanaged themselves. They hemorrhaged capital and were over leveraged, sacrificing profit for market share at every turn. Just another cautionary tale.

He reminds me of Adam Sandler in You Don't Mess with the Zohan.. "Fizzy Bubbleh!!"

This aged poorly

selling picks and shovels in the heat of the gold rush, make sure you run before the goldmine turns out to be a turd

hell ya, I am planing on moving out of the city and making my cabin in the woods!. Soon enough people would own noting and will be subscribing everything. There will be no support whatsoever, the day you stop working, is the day you loose living!

Why would the landlords simply learn from them and destroy them. Or better yet what makes WeWork have a patent on designing cool work spaces. Other management companies can simply copy leading to margin degradation and a destruction of WeWork premium.

Good talker

And softbank regret it badly now.

this comment did not age well.

Lmao

Maybe he was a sharp founder, but his business model is a flounder.

And work on an accent. The Israeli accent seems to work spells on people no matter how outrageous the product being sold. People seemed to also be hypnotized by British accents. My advice is 1st try out the British accent. AND only British. The Scotts & Irish brogues are certainly too rough. But the Aussie accent would work! Good luck.

"Livermore" is fine.