Hello, and shalom, and thank you for coming.
If you're watching this, well, you probably know who I am.
For those of you just tuning in, my name is Adam Neumann.
And I am many things.
Immigrant, entrepreneur, husband, father, disrupter, maverick,
creator, and founder and CEO of The We Company,
the third most valuable private company in the world.
I could give you my version of how we got here,
but that is the past.
And I am more interested in the future.
So come with me. Come with me.
It is time for the We revolution.
Line.
These are the new talking points. Stick to them.
Hang up the phone.
Don't say anything but new talking points.
Hang up the phone, Cindy!
- Hang up the phone! - God dammit!
Just tell them we'll call them back later. Do not comment.
- What? -Wall Street Journal.
It is our S-1. We're very proud of it. I have to go now. Thank you.
This is Damian.
No, I don't have a comment on the S-1. It speaks for itself.
Oh, my God. Hand me napkins.
- Cereal-- What cereal box? - Hi.
- No, he's not. We're aware. - Okay.
What about a cereal box?
Why are you here?
To-- To--
To talk about the S-1.
It's perfect, is it not?
I mean, we think it's perfect.
- Yeah. We love it. - Absolutely, so…
So, what are they saying?
There's the-- the losses.
And then there's the-- the pictures.
- Pictures? - People are upset about the pictures?
- Pictures gave it life. - I know.
I know. It's silly, but it's--
Some people think an-- an S-1
shouldn't traditionally have photo spreads--
- That's why it's in there. - Exactly!
That's why we did it.
Take it away.
The real estate industry is currently experiencing…
The real estate industry is currently experiencing a…
paradigm shift from a…
Paradigm shift from a…
Fuck!
Guys, it's a financial document that no one reads.
Well, they do read The Wall Street Journal,
and they're working on a story.
- What do you mean? - What story? There's no story.
Yeah, I mean, late-night parties, tequila shots,
and a brick of weed in a cereal box
- on an international flight. - It's a cube.
It was not-- It was a cube.
Oh, my fucking God! The Wall Street Journal?
- Okay, okay, okay, okay. - I'm out of here.
- You can't let them run that story. - Right.
No, Damian, you can't let them run that story!
Sorry.
You can't run the story.
Because it's a non-story, Eliot.
No, investors are not losing confidence in the IPO.
Investors are losing confidence in the IPO.
We need to postpone it.
No, no, no.
No, no, we're not going to postpone. We're not postponing, Jamie.
If we don't postpone, we have to lower the valuation.
By how much?
Closer to 20.
You want to lower the valuation by $27 billion?
Jamie, do you know what causes investors to lose confidence?
That. That does.
It's a tough time to be a unicorn.
There's a lot of scrutiny out there.
Uber, Lyft, Peloton, Slack, they're all underperforming post-IPO.
All of them.
The "unicorn stampede." It has become a bloodbath.
And so, to kind of illustrate this point, we recently saw, just last week
an issue with WeWork,
where WeWork was making this transition from the private markets,
trying to get ready for an IPO to the public market,
and they had raised on a previous valuation of $47 billion.
They just decided overnight, "Just kidding, we're worth 20 billion."
And so, if you invested in WeWork,
thinking that it had a valuation of 47 billion…
Your time has expired.
…you're getting fleeced.
I donated to her campaign.
Fuck her. She's a fucking socialist.
She is misrepresenting the private markets.
You're dealing with very sophisticated investors.
Could you stop sending me the daily press briefings?
They're just-- All of the mentions are bad,
and I'm starting to let negative thoughts in and…
Let's go.
Why do they hate us so much?
All we wanted to do was save the world.
We got this. Damian!
We got it. We got it, Damian! Got it.
There's a lot of noise back there. I think we need to simmer it down.
Calm it down. Find your spot.
- Fungible. Ible… - Okay. It's so good. It's so good.
- Is it? - That is such a hard line.
Commodities and… You're getting a little tight in here.
So why don't we just--
Say this with me. A proper pot of coffee in a proper coffee pot.
A proper cot of-- A proper pot of coffee in a p--
- Yes. - A proper pot of coffee
in a proper coffee pot.
A proper coppet potty in a proper coppy pot.
- I got it. - Okay. Great.
- A proper copper potty-- - Esther.
Proper pot of coffee in a proper coffee pot.
Let it loose. And…
Action.
It's bad, Adam. It's bad.
It's a bit of bad press over a silly financial document.
It will blow over.
Listen, you had a hell of an idea for a business,
you built it into something that far exceeded my wildest expectations,
and now you're gonna fuck it all up over all this nonsense?
What are you talking about "nonsense," Bruce?
- Nonsense? - The succession plan.
What about the succession plan?
Rebekah gets to choose your successor?
This is about to be a public company. Not a monarchy.
But it is. It is like a monarchy, okay.
My family is the moral compass of this company.
See? You have to stop saying things like that.
I am now begging you. Please, please.
What if I give you something else? Give me 24 hours.
Benchmark invested 16.5 million in WeWork,
and you've already cashed out over 300 million worth of shares.
You've made 20 times your investment, and, and,
you'll make another billion from the IPO.
So don't talk to me about nonsense, Bruce. My nonsense has made you a fortune.
We just need to get in front of the investors.
The road show, it starts next week.
And for the ones who can't meet me in person, we're making a video.
We're bringing in the crew from Hollywood. We've spared no expense.
And trust me when I say this, trust me, I will bring my A-game.
Okay.
Okay. Okay.
This is it.
I am committed to building not just a good business,
- but a great company. - What?
- And I promise, in my decisions… - They're running it.
-…I will remain loyal to whatever is-- - Shit.
Again.
You got it.
I am committed to building not just a good business, but a great company.
And I promise
that in my decisions, I will remain loyal
to whatever is best in the long term for the greater We.
Our employees, our members, our partners,
our investors and, most importantly, our planet.
So come with me, and let's build the future together.
Good.
- Good? Good? Great? - Yeah, great actually.
- Great. - I heard a "great."
- That was great. - Esther?
- It was great. You did it. You did it. - I heard a "great."
- You did it. You manifested it. - Did you have any doubt?
- No, didn't have any doubt. - No, no, you had no doubt.
- Nothing. - Okay.
You manifested it.
Damian, how was it?
Damian, my PR guru, how was it? Okay?
I think we're finished.
- Hey, yes! - Okay.
- Are you gonna tell them? - Fuck no.
- Thank you all… - Where are you going?
Back to the style section.
He's a goddamn punch line. "Neumann is known for making claims
such as becoming the world's first trillionaire,
becoming president of the world, and living forever."
Sounds like a maniac.
It's humiliating.
He will never survive this.
Survive it? No, he's dead already.
No, I am talking about us. This is humiliating for us.
Bruce, he's gotta go. Partying has long been a feature of his work life…
…maniac.
The guy's a nut job…
All those in favor, please signify by saying, "Aye."
Aye.
Call his office and get him down here.
Yes, I understand it's urgent.
Good morning!
Okay.
'Cause we are going to IPO in two weeks.
Adam, an IPO is out of the question.
I don't accept that.
- Adam. - I don't accept it.
- And furthermore… - Adam. Adam.
…I don't believe you have the faith in me--
Adam.
The board voted this morning.
We want you out.
Call the lawyers.
Yeah. Which one?
All of them.
Oh, thank you.
Well,
I have no idea how you got your investors to agree to this,
but your "supervoting" shares give you 20 votes on each share.
You basically control 65% of the vote on any corporate matter.
So you're right, they can't fire you.
- Good. - Great.
Now we fire them.
Which ones?
Every single person on the board.
Robb, why don't you take this?
Legally, yes, you could fire them.
But you do need a board of directors.
Why?
It's required by state law.
The question is…
can we change the law?
That might take a while.
Okay--
We can appoint anyone we want to the board, correct?
Who we like, who we trust, who we can--
-…we feel has the right energy. - Yes. Yes, yes.
Jen, Matthew?
Birdie. Phil.
- Unfortunately… - Yes.
…the NYSE and NASDAQ exchanges require them to be independent.
Legally, the board is meant to provide experience and advice.
God.
Okay, so what about
Elon?
Well--
Elon.
Elon's a peer, right? So he can't tell you anything you don't already know.
- I think-- - True.
I think Warren. Or Bill.
Obama.
Barack's great, but he's not a businessman.
If you try to fire the board,
you're looking at a lengthy legal fight.
And based on what you've told us, that's time you don't have.
Look, you don't have a legal problem.
You have an image problem.
The public markets want a steady hand at the wheel.
Not a rock star.
Okay, you're talking about gravitas.
- Exactly. - Okay.
Show them that you can run a public company.
Gravitas. Gravitas.
Perfect.
Where's Adam?
The natives are getting restless.
Dude, what-- Nobody uses that expression anymore.
Well, we need to say something to them.
- Me? - You're the co-founder of the company.
Yeah, dude, you got this.
- You're gonna be great. - They're scared. Speak to that fear.
- Okay. - They know your face.
- Use your height. - Tell them everything's cool.
- Everything's gonna be taken care of. - Everything's okay.
- Easy. - Loose. Loose, loose, loose.
It's okay.
Everyone.
Excuse me, everyone.
Excuse me, everyone!
Hey--
Excuse me, everyone.
Please, guys.
Guys-- Sorry.
Hey-- Hi, everyone.
Happy Monday.
Good morning. TGIM, right?
Is Adam fired?
What? No.
Everything-- Everything's under control.
What about the IPO?
What happens with our stock options?
Are we getting fired?
No, no one is getting fired yet.
- Yet? - What does that mean?
No. Guys, listen. Hey, hey, hey, everyone.
Look, I know you're all looking for a little reassurance right now.
And you deserve that. So…
There's a few things I can say.
It's every--
Every little thing…
Every little thing Is gonna be all right
I said don't worry
About a thing
'Cause every little thing Is gonna be all right
Said don't worry--
Oh, thank God. Adam's here.
Adam, everyone.
Colleagues,
friends and family.
This is a pivotal moment.
And I am so proud, so very grateful to have you all gathered here today.
There's a lot of noise out there.
A lot of gossip, a lot of talk.
About me.
About us.
Because that is what people do when they're afraid.
Do you understand what we have all done?
Do you understand? We--
We poked the bear.
We poked that bear.
We disrupted a trillion-dollar industry.
And we will emerge stronger and more fearless and more revolutionary
than ever before!
Yes!
More dedicated, and even more committed.
Committed to our mission to elevate the world's consciousness!
Thank you, Rivka.
And I, I will never not be the CEO of WeWork!
Yeah…
- When I say "We," you say… - Work.
- We! - Work.
Step down.
Who said that?
Who was it?
How dare you?
It's okay. It's okay.
You've lost them.
Your interests and the interests of your employees have diverged.
No, I don't believe that. I-I just-- They're-- They're just scared.
No. They're angry.
They've spent two years, five years, a decade toiling away for low wages,
for an IPO payday that now may never come.
- No. It's coming. Coming. - I mean--
- They will feel used… - It's coming.
…and they will blame you.
Where do you think The Wall Street Journal got its information?
The unnamed sources?
There they are.
You're at war.
It'll be fought on multiple fronts. In the boardroom, in the press.
Even here in the halls of your own company.
Trust no one.
Sorry, are we in a John Grisham novel?
You're paying me to be dramatic. That's why it's called crisis PR.
You have to understand, Rebekah,
you and Adam, you are not people.
- We're not people? - No. You're products.
The media sold you to the public once as unicorns,
now they'll sell you again as villains.
Okay, so obviously we need to reframe it.
We need to take control of it. So why don't you put us on CNBC?
- Good idea. - No.
- I think it's the-- - No, no.
They're making this into a circus. Let's not help them.
Stay in the foxhole.
I'll say it again, we are at war.
And these are your foot soldiers.
God help the enemy, 'cause they're a bunch of freaks.
They don't look like much, but when I pump them full of Adderall
and turn these sickos loose, watch out.
You should both have your offices swept for bugs.
Bugs?
We must be vigilant. Methodical. Strategic.
No emails, no texts,
no phone calls that might be overheard.
No false moves. Got it?
Adam?
You want war? I'll give you war.
Okay. I'll give you war!
We're going to war!
To war, you understand?
- Phil. - Yeah?
- Pack it up. Pack it all up. - Okay. I'll go--
Don't forget the whiteboard, understand? Don't forget it.
- Okay. - Adam. Adam!
Go, go.
Coming through. Push, Phil, push.
- Pushing. - Push.
- Out the way. - Adam. Adam.
This is proprietary, you understand?
- If I see this anywhere, anywhere… - Let's catch the light.
…I'll be forced to take legal action, you understand? Phil.
- Get his picture. Take his information. - Whoa, whoa-- No, fuck off.
Get his picture.
- Rivka, cover the board, cover the board. - I'm just trying to move--
- Cover the board. - I'm covering the board.
Let's just get it to the house, okay? Okay. Do you have it?
- Yeah. - We got it, we got it.
- Okay, here we go. - Okay.
Okay.
It's okay--
Please, please don't lean the whiteboards against the wall.
I'm gonna need to ask everyone to wear booties.
Ingrid? Ingrid.
I think we might need to send the kids to the Hamptons.
All right, all right. Mommy loves you. Claudia, Claudia, did you get the booties?
Hello? Yeah, no, I'm sorry, we just can't comment.
Let me look into that and circle back to you.
No, no, no.
- Not "circle back." You understand? - This couch is hand-loomed linen,
so I'm gonna need to put towels under you.
Oh, my God.
- Angela. Can you get the towels? - Hello?
No, we're not commenting on that at this time.
Nope, not commenting. No comment.
I'm not gonna comment at this time.
Comment. Please, please, comment.
Comment. Comment. Just dig in. Comment.
This, thi-- This is war. This?
My seven-year-old could answer the phones and say, "no comment"
with more enthusiasm than this.
Please!
Adam, be respectful. I'm s-- I'm just gonna…
They're the best in the business.
The best-- Well, must not be a very competitive industry, I have to say.
You could try again in a week.
Again, no comment.
I really have no--
Pardon me.
- Pardon me. Pardon. - Let me call you back.
- What is your name? - Chris.
Chris, no more "no comment," you understand?
No more "no comment."
I'm not paying you guys a million dollars an hour
or whatever it is for "no comment."
If someone calls and asks about tequila, I want you to ask them,
"You ever go to an office party or go out for work drinks?
Ever heard of a three-martini lunch?"
Booze has always been a part of business. You understand?
- You agree. You agree. Thank you. - Adam.
Thank you very much. No.
- Let's take a break. Honey, let's-- - One moment.
I'm just making a point. Making a point. Please.
And if they happen to mention the-the-the trillionaire crap, okay?
I want you to say to them, "Well, pardon me,
but what is the headline here?
Immigrant entrepreneur dares to dream too big?"
And if-- if they dare to mention my wife,
you say nothing, and you put me on the phone.
- You understand? Put me on the phone. - Adam. It's fine.
And then I'll give a comment.
You're not paying us to fight back.
Then what am I paying you for?
- To deflect. To defuse. - Please, to-- and?
- Thank you. - To grind them down with non-answers.
- To be boring. - It's okay, Adam.
Well, they are definitely the best in the business at that.
- Thank you very much. - You are paying us to stop the bleeding.
- We know. Thank you. - So let us do our jobs.
You have made your point. We are very grateful.
- I need you to center yourself. - No. It's--
- No. I need you to ce-- Adam. - It's not the time. Not--
You cannot protect this family if you are not centered.
Close your eyes.
Now breathe in.
And out.
Feel it rise.
Come out through the top of your head.
And then imagine a golden light.
Do you feel better?
Yes?
Okay. Look at me.
Small men proceed from fear.
We are not small.
I want these people and their negativity out of my home.
They are ruining my floors. All right?
Talk to Bruce. Tell him you can fix this.
He wants to believe in you. He always has.
Yes.
- Okay. - Okay.
- Talking to Bruce. - Yes. Good.
- Calling Bruce. - Okay.
Thank you for picking up.
I'm coming to see you.
Now.
Perfect. Keep that tone. Keep that intention.
You can manifest this.
Bruce.
Adam.
Matthew.
And Jacob.
They reached out to me. They had a few things they wanted to get off their chest.
I see, I see. What is the expression?
Like rats abandoning a sinking ship.
Unfortunately, our ship isn't sinking.
But it's good to know who the rats are.
Well, we just want what's best for the company.
What is best for the company is me as CEO.
- Adam, I don't-- - Always has been, always will be.
Please, you're going to listen to these two geniuses?
One walks around like a mermaid
and the other has "cock" written on his forehead.
Please, let the children go home, and the adults can have a conversation.
- No, let them go. - No, Adam,
I really don't see any reason for them to leave.
Fine. Learn something. Grab a pen. Take some notes.
Take some notes. I'm going to teach you something.
Okay.
So listen to me.
This is what I'm willing to do to counter the ridiculous narrative out there.
First, I'm reducing my voting control from 20 votes per share to 10.
Second, I'm appointing a lead independent director to the board.
I thought you'd like that.
Third, Rebekah will no longer choose my successor.
And finally, finally, even though the board never objected
and everything was entirely aboveboard, as you know,
I'll be returning the 5.9 million
that the company paid me for the We trademark.
So you can see I'm giving here, Bruce.
I'm giving. I'm giving, and I'm ready to receive.
You bet on me once.
Believe in me again.
You understand? Believe in me.
You're toxic.
You killed the company.
You don't resign,
I'll break your fucking arm.
Bruce.
I know, I know. But thanks.
Sorry I'm late, gentlemen.
I can see you've gotten started.
No, no-- Jamie, I did everything you asked me to.
- I did it all. - You did nothing I asked you.
I did everything you asked me to.
Adam, we cannot take the company public with you as CEO.
- No one will buy the stock. Adam. - No, no.
Bruce, I--
No, no. I will never not be the CEO of WeWork.
Okay.
Let's look ahead, shall we?
Please. To the future.
WeWork will run out of cash sooner than you can imagine and go bankrupt.
Your shares will go zero.
The $380 million of personal loans that you've taken out against those shares
will be called in, and you will be ruined, Adam.
But, yeah, you'll still be CEO.
We are not your enemies, Adam. You are.
You are your own worst enemy.
Shit.
Well?
Shit!
It was an ambush.
"Unnamed source says
Bruce Dunlevie threatened to break Adam Neumann's arm
if he doesn't step down as CEO."
Just posted on BuzzFeed.
I told you to stay in the foxhole.
Judas!
Judas and Judas.
Masa, I know it's late there.
Thank you for picking up. I'll keep it brief.
- Adam. -You have billions at stake,
and I am the only one who can safeguard that investment.
You need me as CEO, and the company must IPO or it'll run out of cash.
There will be no IPO.
If you go forward with it,
you will embarrass yourself, the company and me.
Stand down.
Masa, listen to me. With all due respect, I'm not going to stand down.
I will not let you proceed.
What do you mean, "not let" me?
I will not let you.
I will use all my power, all my resources, to block the IPO,
and you will be left with nothing.
But there's nothing to worry about. Adam's all--
You know I don't like it when you talk about him like that.
No, I don't. No, it's not ok--
There is a spy outside the building!
A spy. A spy!
Daddy, let me call you back.
Masa, Bruce, they've hired spies.
Okay, honey.
There's just not spies outside the building.
- No. There is a spy-- - There could be.
- Ju-- - Yes, yes, yes.
He looked ex-Mossad, right?
Why?
- We're in trouble. - Why do you think he's a spy?
Because he's standing outside the building, very intently
listening in my conversation, eavesdropping.
- Did he have a salt and pepper beard? - Yes, he had that salt.
And sort of, like, sad hound dog eyes?
- Yes. - Okay, my love.
That is Mr. Fishman, in 4A.
He smokes his horrible cigars outside every single day.
He's lived in the building for 23 years.
He's not a spy. It's all right. It's all right.
Was this the call you were on?
"Embattled CEO wanders NYC streets barefoot, looking frantic."
It's definitely going viral.
Viral?
HomeGardenGnome commented,
"No one who walks around barefoot in New York
should be in charge of a multibillion-dollar company."
BirdieBoy says, "Enjoy the ringworm."
Enough, please. Please. Enough.
Someone just made his bare feet an emoji. It's being used like a thumbs down.
Machosammy, "Does he think he's Jesus?"
Babygene7151,
"He's walking around in filth and excrement.
What a complete fucking nut--"
Enough!
He grew up on a fucking kibbutz. He likes to walk around barefoot.
Is that a fucking crime?
Let it go.
The IPO?
All of it.
No.
You said it was all for me?
And it is.
I don't need it.
Let it go for me. For us.
- You know what happens if I step down. - I know.
But this…
This is all that matters.
You, me, the kids.
We can live on the farm.
We can be wild. We can
howl at the moon like the old days.
Will you howl with me?
Money doesn't matter.
The only people who say that are the ones who always had it.
And maybe having too much is just as bad as not having any at all.
Trust me, motek.
It's not.
Miggy-Migs.
Hey. What are you doing here?
São Paulo?
Nope. This is Reykjavík.
- In Iceland. - Reykjavik.
Yeah, we found an old fish filet warehouse.
Smelt.
- Smelt? - Smelt.
They're these little fish.
Apparently, they reek.
We spent 45,000 fumigating.
Whoever smelt it dealt it.
Whoever dealt it, felt it.
Listen. You frustrate me.
Like no one I've ever met.
- Yeah. - You always have.
But I love you.
You don't deserve this.
I love you too, Miguel.
What are you going to do?
The right thing.
For once.
Is there a motion?
So moved.
Is there a second?
Seconded.
Properly moved and seconded.
All those in favor of removing Adam Neumann as CEO,
please signify by saying, "Aye."
Aye.
Thank you all for making yourselves available
at such late notice.
I'm sure you have questions, and I do want to answer them,
but if it's all right, I would like to say something first.
When I marched into our architect's office
with the six foundational principles of WeGrow,
I told him, "Bjarke, we've got a deadline."
'Cause…
I knew, as a mom,
that it was my responsibility to use everything I have learned in this world
to reimagine early childhood education.
Not just for my kids.
But for all children.
What I didn't know was that…
this school would become my sixth child.
My…
proudest achievement after my own family.
Which is why it breaks my heart to tell you
that WeGrow will be closing at the end of this school year.
Schools locked next year's admissions months ago.
- My child is on scholarship. - Rebekah, what's happening?
I hear you, I hear you and I promise you,
each and every one of your children
has learned the meaning of resilience and adaptability.
What the fuck are you talking about?
Resilience and adaptability won't pay for my kid's tuition.
Okay. Okay…
So, okay, we'll-- Loo-- I--
- Start your own school. - You can't be serious.
Fuck you, Rebekah.
- Yeah. - No way.
"While our business has never been stronger,
in recent weeks the scrutiny directed toward me
has become a significant distraction.
I have decided that it is in the best interest of the company to step down
as chief executive."
- Jesus. - Fucking dick.
Hey, Chloe.
She sold that bag to a woman on the Upper East Side.
She lost $5,000.
What?
I told her to get it.
Hey, where's Bea? I haven't seen her in a while.
Bea got accepted to HBS. She peaced out.
Bea got into Harvard Business School?
- Yeah. - Yeah.
She wrote her admissions essay about WeWork
and how not to grow a start-up.
Guys. Everyone.
I think he's about to start.
Everyone, can you come, please?
Guys from the computers, can you bring it around?
Are you gonna sing?
No, I'm not gonna sing.
I know that this has been a…
confusing and stressful time.
And I know there's been a lot of rumors and speculation.
About what's happening.
So, I thought you should hear about the future of our company.
Of your company…
directly from its new CEO.
- So… - Okay.
- Cameron Lautner. - What?
So, Cam.
Is this a joke?
- Come on. - Whoa.
Adam Neumann.
Boo.
Adam Neumann.
He's been called lots of things, hasn't he?
What is he, a visionary?
Unicorn? Maverick? A magician?
And like a magician, he's tried to perform a sleight of hand
over the entire financial world.
Crafted an illusion that you all were part of something bigger.
What were you gonna do? Raise the world's consciousness?
Solve world hunger? Care for all the world's orphans?
Excuse me, how the fuck is a shared work space company
supposed to do any of that?
He deluded you. He did!
And what's worse is you deluded yourselves.
Because you forgot what every child knows.
Unicorns don't exist.
They don't. Sorry to be the bearer, but that's the truth.
No matter how much we might want them to.
So I think it's about time that we got really honest
about what we actually do here.
We're not here to raise the world's consciousness.
That's not how capitalism works.
We're here to earn value for our investors,
and we're going to do that by providing high-quality shared work spaces
at a competitive price.
And what are you going to get in return? A fair wage and real profit sharing.
Adam says, "Do what you love"? Is that right?
"Do what you love, the money, oh, it will follow."
What?
No, sir. Excuse me, it's hard work.
That's the truth of it, isn't it? It's hard fucking work.
Work sucks and that's what you've got to do.
That, along with a little bit of luck, and then you'll make the moola.
So, I want to know who's with me.
Who's ready to put down these childish fantasies
of saving the world and unicorns,
and who wants to be part of a real, sustainable company,
with a future that you can really believe in?
- Who's ready? Let me hear you. - Yeah.
Look, there's an adult in charge now.
And I assure you,
WeWork's best days are ahead.
Thank you for your time. Go back to work.
We're fucked.
We're fucked!
I divested from the wave pool company, sold "Air Cannabis,"
whatever he was calling that fucking jet.
Got rid of that goddamn school, and we're still bleeding money
out of our fucking tits.
We need to do something.
Layoffs.
Layoffs means severance. Severance means money.
We don't have-- We can't afford to fucking fire people,
that's how fucked we are-- Yes?
You have the board meeting in a half-hour. You should get going.
Okay.
Okay. Come on.
We gotta do something, gotta say something, boy.
Gotta say something.
I don't know what--
What would Adam do?
We need cash. Simple as that.
We need cash or WeWork's gonna run out of money.
- When? - Under two months.
What? Are you serious?
How are we finding out about this now? How is that possible?
Go on, Miguel. Why don't you tell them how you and Adam
cocked this whole thing up?
We accelerated expansion ahead of the IPO.
Okay.
Construction is expensive, especially when you're trying to rush it.
- Yeah. Of course. - No shit.
You were the guys who wanted to impress the markets, so--
All right, that-- that stops now.
No more new locations.
We already signed the leases.
Oh, Jesus.
How many?
We're doubling in size.
- That's fucking stupid. - Time out. Time out! You said double?
All right, all right. So…
We're in a bit of a pickle, aren't we?
We need billions of dollars, right?
And we need it in the next eight weeks, so who do we know?
Well, we have at least one investor with pockets deep enough to do that.
SoftBank.
They won't come in now. Not while Adam has the controlling vote.
He's stepped down as CEO,
but the prick still has the majority of shares.
Which means, CEO or not, we can't override his vote.
Shit.
That fucking wanker.
Money doesn't matter.
The only people who say that are the ones who always had it.
And maybe having too much is just as bad as not having any at all.
Trust me, motek.
It's not.
And the only one who knows that more than me
is Masa.
You see what he's doing here, right?
Adam knows Masa is trying to raise $100 billion for Vision Fund 2.
That's going to be impossible if the fucking crown jewel
of Vision Fund 1 has gone bankrupt, right?
Yeah, but if WeWork goes bankrupt,
all of Adam's lenders are coming for him.
He'll lose everything.
Well, I guess it comes down to one question then, doesn't it?
Sorry, what question?
Who's gonna blink first?
Masa.
You're the crazier one.
500 million for you to sell your shares.
Adam?
Are you still there?
Yes.
Did you hear my offer?
Yes.
Well?
No.
What did he say?
He made an offer. He'll make another one.
Are you sure?
A high-stakes standoff is playing out behind closed doors
over the fate of WeWork.
Yes?
Adam Neumann essentially getting to ride off
into the sunset, like you said there, with a golden parachute.
This deal includes $975 million
for a cap-out to buy shares that Neumann owns,
$500 million for a loan
and $185 million for a "consulting fee."
He's now going to step down from the board,
and this will see SoftBank take 80% of this troubled company.
We're already seeing some employees really worried
about what this massive payout for Adam Neumann means.
See?
This is all we need.
Water, sun, air, us.
I feel reborn.
What?
Just got the email.
It's official.
Ho--
It's the rights for the curriculum for WeGrow.
I bought them for you.
Of course, we can't use the name WeGrow,
but I know you'll think of something.
Thank you so much.
No, thank you. Thank you.
Oh, wait, honey. Adam, your goggles.
Don't worry about me. I know the Dead Sea.
I'm an old Navy man.
Okay, just please. The salt, your eyes, just--
How are you doing? Do you want to watch your daddy swim?
You want to watch me? I'm going look for a whale. Okay.
I'm going to bring one back for you. You watch!
Adam!
Hello?
Oh, Rebekah. How are you?
How is Tel Aviv?
Good.
Good. I'm looking for Adam.
Yeah. He just went for a swim,
but do you want to leave a message?
No, no. No message. Just a question.
For you.
Okay.
Who wins in a fight? The smart one or the crazy one?
What?
Who wins in a fight?
The smart one or the crazy one?
The smart one.
You're smarter than your husband.
He said the crazy one.
But it's a trick question.
It's not the smart one or the crazy one.
Then who?
The one with all the money.
I-I don't understand, what are you…
You will never get that buyout package.
Not a single penny.
I will make sure of it.
You and Adam have a deal.
The next time we speak will be through lawyers.
Ma--
A--
Adam.
Adam. Adam. Adam.
Adam, the money.
The money!
My eyes. My eyes!
- Adam, the money! - I can't see!
- Adam! - My eyes, I can't see.
I can't see.
Adam! The money!
Help us! Please!
When I met Rebekah about nine years ago,
and then she was my girlfriend, um, I weighed about 20 pounds less than today.
I was smoking two packs of cigarettes a day,
I had a lot of very unhealthy habits.
And even though I was a big talker, I had nothing to show for it.
The first thing she told me is, 'You're full of shit.''
That was the first thing.
"You talk like you are all that, you literally can't even buy me dinner."
She said, "Even though this-- I do believe in equality
between men and women." She said,
"It's okay if you paid for dinner one time, it's not a bad thing."
Because I would offer to pay, being polite, and he would accept.
Which just was completely strange for an American girl.
And she said-- she said to me,
"If you don't immediately stop chasing the wrong thing,
actually find your passion,
find what it is that makes a difference for you.
Find, and then take that, mix it with what you do, what you love at the most."
Which in my case is bringing people together.
And I do happen to love buildings, I don't know why.
"If you don't find a way to bring these two things together
and really do something meaningful for the world,
not only will nothing you do never really work,
even if something did work, you'll never feel fulfilled."
She said, "My suggestion for you is, drop everything you're doing,
go find something real.
Stop worrying about the bottom line, because it's not about that.
Redefine success and fulfillment as something greater than yourself,
and the rest will follow." I have to say, I did all of that.
- Rebekah, I want to say thank you. - Adam, my love.
- I'd be nothing without you. - Well put.