WeWork

SoftBank is widely considered the biggest victim in the WeWork story, losing billions of dollars that it invested in the company while WeWork’s CEO walked away a billionaire himself.

In the years leading up to WeWork’s bankruptcy, the tech holding company SoftBank invested roughly $16B into the company.

SoftBank CEO Masayoshi Son, as WeWork’s largest financier, had been Neumann’s biggest champion for years—until he volleyed for Neumann to be removed from his position as WeWork’s CEO.

WeWork has been through a lot since the office space company was founded as a startup in 2010. From its failed IPO in 2019, to the various leadership antics of its founder, Adam Neumann (some have claimed that he acted like a cult leader at times), this video tells the full story of WeWork’s growth, failures, and more.

Former WeWork CEO Adam Neumann has attempted to purchase WeWork before, although, thus far, he hasn’t been successful. Since leaving the company, he has founded a residential real estate firm, among other projects.

WeWork’s story is colored by the times it just couldn’t make its numbers work. Its competitors in the coworking industry, such as Industrious and Convene, seem to be prioritizing slow and stable financial growth instead.

WeWork CEO Adam Neumann used to share a relatively small apartment in New York City with his wife before he became a billionaire off of WeWork. At one point, the apartment rented for $3K per month.

The Wing was supposed to be more than a woman’s answer to the popular WeWork coworking spaces. Founder Audrey Gelman envisioned The Wing as a private members club where women could feel empowered and dignified—if they had a few thousand dollars a year for a membership, of course. However, after racism scandals and widespread employee criticism, The Wing ceased operations in 2022.

This website keeps track of startups with "no-shoes" offices so you can browse a list of barefoot companies—plus, see which of them are hiring.