WeWork

Throughout watching all i kept thinking was how would Tommy Wiseau rent office space? And what kind of summer camp would he run? And what would his S1 look like?

It's hard to write this review without using cliches such as 'millennials are the new/improved boomers' but I'll give it a go.

When an entire generation is so willing to buy into a hivemind idea such as WeWorks, it says more about the society we live in rather than the generation, itself.

That being said, charismatic leaders seem to emerge today with so many bells and whistles that it's hard to denounce their likable aspects without being castigated from society. Despite ample evidence to support the thesis, many threw caution to the wind to prop up this snake oil salesman (and his incredibly insufferable wife) for the 'greater good'- despite all evidence to the contrary.

What's most appalling is, his lack of responsibility and his ability to leap from this unscathed- with millions upon millions of dollars and untold stock options, with absolutely no reasonable accountability on his behalf.

At what point does society start to value the whistleblowers who are sounding the alarms well ahead of the catastrophic events that lead to inevitable destruction? When we have untold resources to explore and contradict even the most enigmatic megalomaniac, and not a single journalist with esteemed credentials will finally stand against the wave of backlash to say 'enough is enough, we're building a hero out of a pile of dung!'

Society created this monster, and far too many people went willingly down his path to sing 'KUMBAYAH!' but lacked, I don't know, confidence I guess?, to ask reasonable questions that likely lead to this nutjob being unemployed.

What this documentary shows us is a whole gaggle of people who suspected a fraud, but couldn't admit to themselves (or others) what he truly was, and even more people far too naive and inexperienced to know that this was a scam of immeasurable proportions.

We're so focused on teaching college students the ins and outs of virtues and justice that we're neglecting to teach rational and cognitive skills. As well as parents so willing to perform mental gymnastics in order to appease these little egomaniacs, that there's no ability to discern right/wrong or decent/immoral on their own.

A solid documentary that points out these fatal flaws we've inflicted on an entire generation- now only if we are able to glean the necessary information to affect real change.

A few years ago while traveling around Southern California, I noticed the WeWork sign popping up on buildings. At first, I thought it was an employment agency moving in, then I was told that it was floors of suites for rent. I thought that was great because when I was in College, I had heard of "Fegen Suites". Those were the first in floors of offices Lawyers/Attorneys and Government rented.

Fegen Suites shared a common reception area (usually two or three receptionists behind a nice large desk), a few folks in another room answering their phones and taking messages if they wanted (They could have the phones ring through to them if they chose) and could share an administrative area with copy machines, computers, etc. On that floor. It had conference rooms. It was a cost saving measure for young lawyers/attorneys starting out.

These grew popular as top entertainment companies and government offices started using them for "extra office space". Then new Production Companies were using them for their offices, and many small businesses started to rent them, all for the same reason. They did have 'top' real estate salespeople/companies to help rent these suites, and they were consistently full -- even a wait lists. That's what led me to believe that's what WeWork sounded like, but possibly now have been updated for the digital generation of those just starting out.

Boy was I wrong!

I watched this documentary, and it was like watching a horror show on so many levels! I had no idea WeWork was like this at all! The documentary takes you through the two founders Neumann and Miguel, but centering mostly on Neumann and his sales techniques into having young people buy into this WeWork experience. It came across like a Real Estate Cult with Neumann at the head. I had never seen anything in real estate quite like this (and I saw the beginning of house flipping!! Guys, it didn't start as legit as the shows now show.)

This "salesman", Neumann seemed to cultivate a mesh between a pyramid scheme and a cult where he and his wife (who did a few movies and was related to Gwyneth Paltrow - big whoop!) conned banks out of now millions off the sweat of wide-eyed, well meaning young people who fell for his con and did all the work while he took all the glory. What a racket, as as with all rackets this plummeted fast.

The documentary does a good job of telling the tale of WeWork through employee and others interviews, spots of Neumann's ego appearances on programs and films of employee camps, etc. But Neumann and his wife "did not participate in the making of the documentary". Why should they? What can they say to make any real sense out of this? I've seen just about enough to see why WeWork fell so quickly from grace. However, Neumann and his wife will still walk away with a big payday and according to the documentary have already set their sights on something new.

SXSW 2021 Greetings again from the darkness. It's quite possible that many scams originally begin with someone's good intentions. However it's just as likely, and maybe even more so, that many scams begin with only the intention of raking in millions or billions for the founder. The dream of becoming the next Steve Jobs, Jeff Bezos, or Mark Zuckerberg is simply too enticing for some. Filmmaker Jed Rothstein profiles the rise and fall of WeWork, or more accurately, its charismatic commander, Adam Neumann.

Offering a nice overview for those unfamiliar, the film uses multiple clips of Neumann speaking so that we get a real feel for how so many fell under his spell. Neumann was an immigrant from Israel, and certainly bought into the ideal of living the American Dream. Labeled a visionary, and always full of ideas, Neumann co-founded WeWork with Miguel McKelvey. They were known affectionately as Mr. Outside and Mr. Inside, respectively, due to McKelvey's focus on operations and infrastructure and Neumann's ability as a salesman and the (and hair) of the company.

The idea of co-working space was not new, but it had never been pitched or marketed the way that Neumann did. He appealed to the rebellious nature of millennials, who couldn't picture themselves in the traditional corporate office environment of the establishment. Neumann capitalized on their FOMO, and rammed home the message of "Do what you love." He preached to the choir with his promise of the next revolution being the "We revolution."

Journalists from Forbes, The Atlantic, and The Wall Street Journal are interviewed, as are former We staff members and clients. Mr. Rothstein does a nice job of tracking the progression of the company via graphics showing valuation each year beginning with a few million in 2012 through a peak of $47 billion in 2018. He also explores how, within a 6 week period, the company went from that peak to near bankrupt.

A business model based on "community" with the goal of changing the way people work and live, turns out to be smoke and mirrors if legitimate business practices aren't followed. That's not to say his communal approach doesn't work, but as so often happens, greed and the lust for power, create the downfall. Rothstein points out that the company's own S-1 filed prior to the planned IPO was the red flag that had previously gone undetected.

This is as much a psychological study of Neumann as it is a business case study. Every time Neumann bristled at being called a "real estate company", we should have known. With his cash infusion from Japan's SoftBank still not leading to traditional profitability, we should have known. When his bizarre actress wife, Rebekah, became more involved with decisions and publicity, we should have known. Hindsight is crystal clear, and by the end, we realize Neumann has more in common with the notorious Elizabeth Holmes of Theranos than with Steve Jobs. The Jesus Complex seems obvious, but as humans we want so much to believe the words of an idealist ... especially a cool one. There is a lot to unpack in this documentary, and it's worth it - even if it helps us learn our lesson yet again.

Overall I thought this was well done. It's shocking how a company can grow to a giant but is made of fluff. I enjoyed everything except the end. It seemed like they had no idea how to end it and decided to do something with masks? Just strange.