WeWork Part II - Burning Cash and Legal Fires
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ColdFusion
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The WeWork saga continues..
WeWork Part I: it-my.com/watchvideo/video-QHQTzeve7OM.html
Twitter Video: it-my.com/watchvideo/video-p8N0xN0ihMA.html
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Script by Fil Zivko
Sources:
www.bloomberg.com/news/articles/2020-05-18/softbank-vision-fund-books-17-7-billion-loss-on-wework-uber
help.wework.com/hc/en-us/articles/212046726-What-is-WeWork-s-cancellation-policy-
www.theverge.com/2020/5/5/21247989/wework-adam-neumann-lawsuit-stock-deal-softbank
www.bisnow.com/national/news/coworking/wework-keeps-is-spaces-open-despite-coronavirus-cases-in-them-103557
www.theguardian.com/business/2020/apr/14/wework-coronavirus-impact-business-not-as-usual
slate.com/technology/2020/05/wework-rent-coronavirus.html
www.nytimes.com/2020/05/18/business/wework-rent-coronavirus.html
www.bizjournals.com/sanfrancisco/news/2020/05/20/wework-members-lawsuit-class-action-contract-ny-sf.html
www.bloomberg.com/news/articles/2020-05-18/softbank-vision-fund-books-17-7-billion-loss-on-wework-uber
www.globest.com/2020/05/11/a-wework-agreement-is-not-a-lease-and-why-this-matters-now/#
finance.yahoo.com/news/we-work-v-softbank-a-3-billion-battle-involving-two-ailing-companies-122840662.html
www.reuters.com/article/softbank-group-ratings-moodys/moodys-downgrades-softbank-group-by-two-notches-idUSL4N2BI33O
www.ft.com/content/37f86afb-024c-40a0-98c9-eab7b248a7e6
www.businessinsider.com/wework-first-quarter-revenue-growth-rate-slows-sharply-2020-5?r=AU&IR=T
www.theguardian.com/business/2020/may/05/wework-adam-neumann-sues-softbank-deal
www.forbes.com/sites/williampesek/2020/05/07/wework-downfall-means-adam-neumann-should-sue-himself/#72f6252d4da0

//Soundtrack//
Moon Boots - I Want Your Attention feat. Fiora
Pacific Coliseum - Ocean City
Justin Martin - Don-t Go (Dusky Remix)
Sigur Ros - Góðan daginn
Sean Williams - Fray
Burn Water - Disappear
» Music I produce | burnwater.bandcamp.com or
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» Collection of music used in videos: it-my.com/watchvideo/video-YOrJJKW31OA.html
Producer: Dagogo Altraide
Why are you still reading?

Commenti
  • Brian Mwaura
    Brian Mwaura

    2019: wework 2020:wesue

  • cicobee cicobee
    cicobee cicobee

    JUNK FRAUD, just a landlord

  • Seven Rocks
    Seven Rocks

    WeWoke WeBroke

  • Hillary Koske
    Hillary Koske

    Tesla is the next wework

  • Divyesh Agrawal
    Divyesh Agrawal

    Neumann wants those 'tres commas'! Silicon Valley fans? Anybody? nobody?

  • Rio Matsuzawa
    Rio Matsuzawa

    I was an employee for a short while but the amount of people that were cancelling their memberships was quite alarming... I guess time will tell what’ll happen.

  • yourordinaryme
    yourordinaryme

    Man that intro music going on for three minutes had me on edge

    • Alexa Wallace
      Alexa Wallace

      Me too!

  • Ruaridh Douglas
    Ruaridh Douglas

    Adam Neumann looks like a budget Tommy Wiseau.

  • David Li
    David Li

    can't believe investors fell for this basic scam

  • ndjk
    ndjk

    WeWork is fucked. It’s a long, slow demise. They won’t be in business for much longer at this rate

  • The Red Baron
    The Red Baron

    the Real Joke is how did a business like We Work became a billion dollar business in 21st century. Westerners need to learn business and Jugad concepts from India

  • Shubham Tharval
    Shubham Tharval

    WeWork will survive. In future there will be demand for on-go office spaces unlike permanent one. On-go office space meaning temporary office space for a quarterly meeting on the product development or team bonding sessions. I personally feel, WeWork will survive post pandemic

  • Quan Jiang
    Quan Jiang

    Wework produce what?? U had no money to begin with but u wanna sue becoz they didn't give you money dafuq!! U cooked, mate!!

  • M Khan
    M Khan

    I thought Adam is in jail? 🤔 I really don't understand the legal system in the US. If u have a $20 fake bill u die on the street. But If u steal billions, smoke & traffic drugs, and fool everyone, u can still get away with a $970 million.

  • Armchair warrior
    Armchair warrior

    Tesla should be done next, It worth more than Toyota and makes millions less cars. It makes cars that are barely finish and not fitted. Terrible QC and safety record from exploding cars to crashing into things.

  • James Wang
    James Wang

    Start WeF***

  • Immersive Sports Science
    Immersive Sports Science

    There maybe a few people who would rent personal space for themselves to work because they can't work from home, yet again that is what libraries are for.

  • Atlas
    Atlas

    I work for a competitor called Regus. We are larger and they are screwed, easyclap.

  • Ian Stuckey
    Ian Stuckey

    As much as this is a serious situation deserving of analysis, I can't help but laugh at the giant inflatable rat at 0:57. EDIT I put in as instead of at.

  • GhostFox 66
    GhostFox 66

    whoever who disliked this video is a wework supporter

  • Muzzamil Nadeem
    Muzzamil Nadeem

    Fake it till u make it isnt a phrase, it's a movement lol

  • Hazicu Org
    Hazicu Org

    From first video i was like "this will go down very fast" Now Im like they will go down even faster

  • untouchable360x
    untouchable360x

    WeLost

  • egolifeheaven
    egolifeheaven

    Alvin Tofller advised to be wary of a quickly changing environment.

  • Antonio Wakardo
    Antonio Wakardo

    WeBroke

  • mjj july
    mjj july

    co-working spaces will still be a thing post-pandemic, not all homes have a conducive working environment, or for some, just to break the monotony of the home office. and when tourism picks up again, the digital nomads also sometimes needs a proper working space for some days or weeks.

  • Aquablue 125
    Aquablue 125

    There was really no point to this company. What “work” did the employees actually do?

  • Kuribo Kutsu
    Kuribo Kutsu

    I have insane business idea! Innovation is upon us! So, peoples is, kinda, poop al the time. Make waste, shit pants and so on. So, we will collect that shit and...transfer it somewhere else. Where? Maybe China, or Moon, i dunno, whatever! We call it...YouShit! Our slogan will be You Shit - We Ship (it). Anyone willing write a check? I smell money! (and shit, a little).

  • Irfayas Seyf
    Irfayas Seyf

    Seriously...who cares about we work ? They are already defunct

  • AmsaAce
    AmsaAce

    why not pivot to "weworkfromhome" and charge people for using their own homes as you provide the tech since you are a tech company?

  • Jack Greaves
    Jack Greaves

    5:10 hey thats where I live lol.

  • John Weedon
    John Weedon

    Whatever the outcome the Israeli Bloke Adam, is super clever for being able, in his own particular style to make so much money so quickly and with very little to start up with but big balls and a big mouth. Oh how we love confidence in aq young man.

  • girlsocksfinder
    girlsocksfinder

    We... More like WEseau

  • Joshua Patrick
    Joshua Patrick

    Work has no future....duh. CERN done screwed us all.

  • s s
    s s

    Turn office in to apartments for the homeless

  • s s
    s s

    We slaves

  • s s
    s s

    Neoliberalism/crony capitalism is a failure to society , GREED based economic system will create these blood sucking ticks

  • Blue Team
    Blue Team

    "for pretty much everyone on earth, the pandemic was unforseen" ........ keep telling yourself that bud lol

  • Tim Zwart
    Tim Zwart

    weworks concept might still prove to be superior to its competition. If they manage to survive covid, win their suit and survive who says their competition (apparantly they're called Regus) will manage to make any dent into their market share.

  • Marcelo Nunes
    Marcelo Nunes

    man gotta love those stock video and image production companies, they have people waking around in the lock-down just to make this video and others possible.

  • Jae Kim
    Jae Kim

    I really think wework could really be profitable post covid as more companies move to remote working or working from home. Especially as people can choose where they want to work.

  • Terrence Hollowell
    Terrence Hollowell

    SoftBank,I have a start up called fund my pockets .net

  • Mike s
    Mike s

    Im gonna sue me for oweing me money ..... I'm gonna declare me as bankrupt so I cant get any money from me ..... I'm a genious

  • 7seednew
    7seednew

    WHATT YoU CaN WOrK frOM aN IP ADDRESS??!

  • DIAMLER
    DIAMLER

    3:53 that’s literally Roxbury Park hahaha I live one block from there lol

  • VainGloriousBastard
    VainGloriousBastard

    talk about biting the hand that feeds you

  • Juanjo Ville
    Juanjo Ville

    Do you have emotions? Why is your voice so dull? Some entonation changes every now and then will be nice....

  • Vayne Fox
    Vayne Fox

    Softbank better clean up their mess or their stocks will plummet to the ground which will give a chance for foreign companies to eat them up. Well I really wanna see where this is going....

  • Nabeel Zafar
    Nabeel Zafar

    it soon will be WeWorked.

  • Rocky P
    Rocky P

    Why does the Thumbnail look like Henry Cavill

  • Кирило Ігошев
    Кирило Ігошев

    O'm still puzzled why would people invest in someone like Elizabeth Holmes and Adam Neumann? Even their personality is repugnant, not to mention their startup idea is a scam

  • Simon150999
    Simon150999

    Breaking news: Israeli businessman has no shame in doing whatever he can to clinch another billion dollars. Also, the sky is blue and the sun will rise tomorrow.

  • Grady
    Grady

    I literally just clicked on this video because I thought from the thumbnail this was gonna be a Bill Hader comedy sketch.

  • Mark
    Mark

    Adam Newman just hit on rich gay investor. I see you baby shaking that ass

  • Mark
    Mark

    Adam Newman is the worlds greatest scam artist

  • Ayrat Khalikov
    Ayrat Khalikov

    You know it's obvious now that the company's value was too high. But a few years ago many thought it'd be the next big thing. Like with the stock market overall. If it crashes say 80% everyone will be saying it was obvious. But people still keep buying stocks.

  • SentinelConvergence
    SentinelConvergence

    Fooling one of the world's biggest venture capital lenders into thinking their glorified subletting operation is a future tech giant is as funny as it is impressive.

  • sbtopjosh
    sbtopjosh

    Stupid millennials

  • Franco Ramos
    Franco Ramos

    1:57 As a Bolivian... ouch

  • Temas&Historias
    Temas&Historias

    Now im asking. If their bussines is office rental... whay do their actual workers do? Like... do they just hang around in the offices playing solitaire and occasionally doing some financial sheets? Nobody wonders why arent they doing some actual tech work like developing software or something?

  • 808v1
    808v1

    My employer (software developer) is getting rid of our full-time rental office since remote working so far has worked flawlessly. We will be using office sharing service instead when we need to have in-person conferences or client meetings...so this would be good for a business like wework?

  • Kim Siewers
    Kim Siewers

    Softbank lost a fortune because there is nothing new about renting space. Adam was good at generating a “reality distortion field”, so he got some suckers to believe his bullshit. Elizabeth Holmes also fooled a lot of rich suckers with the Theranos bullshit. A common answer to hard questions to both is “You don’t understand my business.” Tip: if anyone has a confusing answer to a question, they are lying to you.

  • TheMaddias
    TheMaddias

    I think you can slowly start on a video concerning Wirecard. They are burning money right now in a very big scale

  • Andreas Baird
    Andreas Baird

    So many people with terrible business models must be LOVING COVID because now they can be like “ahh, business was great but had to close because pandemic :/ so sad”

  • Daniel Williams
    Daniel Williams

    If SoftBank would just give me half of what they gave we work, I could guarantee making at least $1 😂

  • Arthur Feitosa
    Arthur Feitosa

    Government should not be allowed to stop private businesses from working

  • DavidJMa
    DavidJMa

    Who want we work when zoom and working from home is a proven viable alternative?

  • J.R.P.
    J.R.P.

    Scam

  • IronBat
    IronBat

    I still don't get what they do, is it a subscription service for renting.

  • Han Joon Lee
    Han Joon Lee

    Sueing softbank?? What an asshole!!! Man, Masayoshi Son really screwed up this time.

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