About that WeWork Ceo ....

GURPS

INGSOC
PREMO Member
The shocking and rude ways WeWork’s ex-CEO Adam Neumann treated staff


But Adam, now 42, was never exactly a nose-to the grindstone guy. As co-authors Eliot Brown and Maureen Farrell reveal in the book “The Cult of We: WeWork, Adam Neumann, and the Great Startup Delusion” (Crown), out Tuesday, expensive shortcuts appealed to Adam.

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As the authors write, “Smoking on board was one thing, but transporting marijuana — an illegal drug in New York and Israel — across borders … might expose Gulfstream to serious risks.”

Gulfstream pulled the jet, leaving Adam and his pals to find their own way home.
Adam and his cohort were notorious among private jet crews. After a chartered trip to Mexico City in 2015, the operator, Gama Aviation, complained to WeWork that “passengers were spitting tequila on each other”; one passenger became sick “throughout the cabin and lavatory,” requiring extra cleaning; and that the “crew was not tipped.”

VistaJet, the authors write, was frequently forced to deal with Adam’s onboard partying: taking jets out of service to clean up alcohol spills and vomit. On multiple occasions, the CEO or one of his companions tore down a curtain divider.

On one of Adam’s flights, there was so much marijuana smoke in the cabin that the crew felt the need to don oxygen masks.

Back on land, Adam’s wife, Rebekah, who is now 43, was telling interviewers that the couple “believe in this new ‘Asset Light’ lifestyle.”

It was a pretty rich statement.
 
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GURPS

INGSOC
PREMO Member

WeWork files for bankruptcy



“Now is the time for us to pull the future forward by aggressively addressing our legacy leases and dramatically improving our balance sheet,” said David Tolley, WeWork CEO, in a news release. “We remain committed to investing in our products, services, and world-class team of employees to support our community.”

Once a much-celebrated tech unicorn that promised to revolutionize the future of office work — via, among other things, free-flowing craft beer — a perfect storm of factors caused WeWork to start to come undone in the wake of a botched attempt to go public back in 2019.

At the time, IPO paperwork revealed larger-than-expected losses and potential conflicts of interest with the company’s cofounder and then-CEO Adam Neumann. Neumann, whose unorthodox leadership style resulted in WeWork’s culture becoming the subject of much news coverage, was ousted in 2019 following pressure from investors. (Notably, Neumann still received an eye-popping golden parachute upon his departure).

WeWork eventually went public roughly two years later at a much-reduced valuation of some $9 billion. But by 2021, market sentiment, and the easy access to capital that helped prop up much of the startup world before the pandemic, had started to shift. Although WeWork billed itself as a tech company, some critics noted its core business was not in tech but was really in real estate, renting space in office buildings to retrofit and sublet to startups, freelancers as well as large and small companies.
 
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