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WeWork’s Adam Neumann Steps Down as CEO

wsj.com

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Re: WeWork’s Adam Neumann Steps Down as CEO

#151

Post by sah2ed »

ngngngng wrote: post #17

I'm so glad I read hacker news. I almost took a job at WeWork just 2 months ago with a recruiter working very hard to convince me I'd be rich when they IPO. Now I'm at a much smaller startup called Weave which is a really phenomenal place to work. I didn't discover until recently that it's also a YCombinator company. edit: to clarify, hacker news has been extremely skeptical of WeWork for some time, due to this, I wa…

> I'm so glad I read hacker news. I almost took a job at WeWork just 2 months ago with a recruiter working very hard to convince me I'd be rich when they IPO.

Did a 2-month old HN comment foretell WeWork imploding which informed your decision to decline their offer, or reading HN in general helped you determine that their offer would be close to worthless, compared to your options at that time?

Re: WeWork’s Adam Neumann Steps Down as CEO

#152

Post by dbuder »

john_moscow wrote: post #62
rwmurrayVT wrote: post #40

Earlier quoted context omitted.

I just don't see them wrestling control away from the deranged, cult leader. He truly believes he is destined to be president of the world and revolutionize.. well every thing. There best bet would be to drop the multi-class structure to get into passive funds. It needs $8.1b market cap to get into S&P500.

>He truly believes he is destined to be president of the world and revolutionize. I am not sure. He has been pretty methodical in siphoning the money out of the company (privately leasing the real estate to We, charging them for the trademark, etc), so he probably knows very well what he is doing. Somehow, if you act this way, investors will perceive you as a charismatic and energetic leader and buy in even if your b…

Please point me to where I can read more about the Juicero story, particularly the external consultants. It was just so comically bad on every level, it made me lose alot of respect for VCs.

Re: WeWork’s Adam Neumann Steps Down as CEO

#153

Post by Tiktaalik »

whoisjuan wrote: post #34

This is some dense shit. I can't imagine how working for WeWork feels like, right now. I have worked for companies where all the employees were eagerly waiting for the day the company will go public. It was seen as a pivotal moment both financially and professionally. In any rational world that's a landmark moment. A significant milestone for founders, investors and early employees. For WeWork it has been the complet…

> I can't imagine how working for WeWork feels like, right now.

Focus on stealing office supplies.

Re: WeWork’s Adam Neumann Steps Down as CEO

#154

Post by dehrmann »

metalliqaz wrote: post #92
cgearhart wrote: post #56

I had concerns earlier this year when I interviewed at WeWork—which was the worst interview experience I’ve ever had. I applied for a data science role. The first two hours of the on-site were painful—they seemed to be asking questions tailored to be outside my experience. The third interviewer came into the room and said, “I, uh, just looked at your resume and I have to ask, why do you want to be a backend engineer?…

WeWork is basically a real estate company. Why would they need a data science engineer?

Engineer? Harder to say. Data scientist--that's easy. Stackbucks is very good at looking at demographic data and recognizing where future demand will be new new locations. They basically mark gentrification.

Re: WeWork’s Adam Neumann Steps Down as CEO

#156

Post by paggle »

DebtDeflation wrote: post #18

I'm guessing the "Non-Executive Chairman" position will just be a temporary one until they can come to agreement on how much money they need to pay him to go away. Professor Galloway called this the other day. His next prediction is that We will sell off all the bullshit vanity projects like WeLive and WeGrow along with the other nonsense Adam bought (like the wave pool company so he can practice surfing at work). Th…

I don't think they will shut down WeLive. The entire premise of WeWork, and WeLive, is that they can sell you more than real estate -- they can sell you a "tribe." There are so many reports in recent years about growing social isolation and loneliness, that if something can be successfully packaged into a simulacrum of a community, it will be a hot item indeed. That's the only way WeWork can justify its stratospheric investments, and it is the market they will aim to dominate.

Re: WeWork’s Adam Neumann Steps Down as CEO

#157

Post by knd775 »

nytesky wrote: post #90

I assume he still retains the gobs or cash extracted through all his shenanigans and controlling shares? And thus could reinstate himself after IPO?

They loaned him a lot of the money that he used to buy the properties. It remains to be seen how the loans are structured, but it's possible that the company can call in their loans and put him in a position that he needs to sell properties.

Re: WeWork’s Adam Neumann Steps Down as CEO

#158

Post by rurban »

anigbrowl wrote: post #128

As with Theranos, I told you early on it was a scam. If there's one thing a grouch knows well, it's how to spot trash.

Totally different scam than Theranos. WeWork is a cult (like Apple), and has a poor business model, but it at least works. It just doesn't generate enough money, like with the Texas shale oil boom. Everybody thinks it's great, but it's not, they are loosing money and no turnaround in sight.

Theranos never worked.

Re: WeWork’s Adam Neumann Steps Down as CEO

#160

Post by smileysteve »

rcardo11 wrote: post #66

Sorry for my ignorance on this, but recently I find that top hacker news articles need a paid subscription. Do you have a trick for accessing them or just everyone here has a paid subscription?

Consider purchasing a wsj, nytimes, and Washington post subscription; It may help you get value out of the news aggregator.
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