Adam Neumann on WeWork's collapse
WeWork's founder is pushing back on the standard story of its downfall, a cautionary tale for investors who bought the growth-at-any-cost pitch.
- WeWork grew from a startup to a $47 billion valuation before losing almost all of it within weeks.
- The 2019 IPO filing exposed billions in losses over three years and killed investor confidence.
- Neumann says the company was pushed into going public before it was ready, and that ego and money took over as the valuation climbed.
- He denies being fired, saying he stepped down by choice and was then pushed out behind the scenes.
- His claim now: he got far more right than wrong at WeWork, and he is back building again.
Outlook: Expect Neumann to keep making the case for a comeback, with his new real estate venture as the test of whether investors believe him.