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WeWork: or The Making and Breaking of a $47 Billion Unicorn

But using data on the public Web, we actually plotted the churn rate, which is how many...

But using data on the public Web, we actually plotted the churn rate, which is how many people join
and then leave

Full Transcript

00:00:01.000 --> 00:00:04.229
But using data on the public Web,
00:00:04.254 --> 00:00:06.273
we actually plotted the churn rate,
00:00:06.296 --> 00:00:09.902
which is how many people join and then leave.
Duration
10 seconds
Views
23
Timestamp in Movie
01:08:22
Uploaded
May 10, 2025
Genres
documentary
Production
Campfire Studios,Olive Hill Media,Forbes Entertainment

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Movie Summary

An account of the six-week death spiral that brought down the company's IPO, a behind-the-scenes look at WeWork's frat-boy culture.
And we did see that the churn rate had increased - WeWork: or The Making and Breaking of a $47 Billion Unicorn 00:07
And we did see that the churn rate had increased
The other trend we found was - WeWork: or The Making and Breaking of a $47 Billion Unicorn 00:07
The other trend we found was
When you call yourselves a technology company, - WeWork: or The Making and Breaking of a $47 Billion Unicorn 00:13
When you call yourselves a technology company,
[keying on keyboard] - WeWork: or The Making and Breaking of a $47 Billion Unicorn 00:07
[keying on keyboard]
Then, about three hours later, WeWork sent us an email - WeWork: or The Making and Breaking of a $47 Billion Unicorn 00:10
Then, about three hours later, WeWork sent us an email
And then the community manager stopped by to our office. - WeWork: or The Making and Breaking of a $47 Billion Unicorn 00:07
And then the community manager stopped by to our office.
And she says, - WeWork: or The Making and Breaking of a $47 Billion Unicorn 00:18
And she says,
SCOTT:I first read about WeWork when they raised money on SoftBank, - WeWork: or The Making and Breaking of a $47 Billion Unicorn 00:09
SCOTT:I first read about WeWork when they raised money on So...
And at that point they had about 200 locations. - WeWork: or The Making and Breaking of a $47 Billion Unicorn 00:04
And at that point they had about 200 locations.
I went through and looked at the buildings - WeWork: or The Making and Breaking of a $47 Billion Unicorn 00:06
I went through and looked at the buildings
And I determined at that valuation - WeWork: or The Making and Breaking of a $47 Billion Unicorn 00:11
And I determined at that valuation
And I said that WeWork was the most overvalued private company in the world. - WeWork: or The Making and Breaking of a $47 Billion Unicorn 00:07
And I said that WeWork was the most overvalued private compa...
ALEX:Adam Neumann told us repeatedly that WeWork was profitable. - WeWork: or The Making and Breaking of a $47 Billion Unicorn 00:07
ALEX:Adam Neumann told us repeatedly that WeWork was profita...
We've since found out - WeWork: or The Making and Breaking of a $47 Billion Unicorn 00:10
We've since found out
Because when you have a 40% business, when you have a margin, - WeWork: or The Making and Breaking of a $47 Billion Unicorn 00:07
Because when you have a 40% business, when you have a margin...
- We like to hover around an EBITDA, a break even, - WeWork: or The Making and Breaking of a $47 Billion Unicorn 00:07
- We like to hover around an EBITDA, a break even,
Right now we're in a very high-growth stage of our business, - WeWork: or The Making and Breaking of a $47 Billion Unicorn 00:08
Right now we're in a very high-growth stage of our busi...
- So EBITDA-- - WeWork: or The Making and Breaking of a $47 Billion Unicorn 00:09
- So EBITDA--
But WeWork started inventing their own financial metrics - WeWork: or The Making and Breaking of a $47 Billion Unicorn 00:24
But WeWork started inventing their own financial metrics
So suddenly they went from a loss-making company - WeWork: or The Making and Breaking of a $47 Billion Unicorn 00:11
So suddenly they went from a loss-making company