Earlier this week, WeWork, the office-share company, announced that it had lost $3.2 billion in 2020. For WeWork, that was good news: Its losses were down from $3.5 billion the previous year, when its megalomaniacal co-founder, Adam Neumann, was ousted as CEO.
At his most profligate, the entrepreneur had been spending $100 million a week to attract a multi-billion-dollar investment that would never come.
As a newscaster intones, Neumann’s leadership took WeWork “from a $47 billion valuation to near bankruptcy in just six weeks.” The Hulu documentary WeWork: Or the Making and Breaking of a $47 Billion Unicorn is director Jed Rothstein’s (The China Hustle) comprehensive but politically and creatively timid account of Neumann’s extravagant.
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