Hulu's new documentary on the rise and fall of WeWork focuses on its charismatic, egotistical founder and CEO Adam Neumann, who was ultimately the company's downfall.
In the tale of how the cult-of-personality (rumored to be played by Jared Leto in an upcoming film adaptation) created the coworking empire and subsequently caused its downfall, WeWork: or The Making and Breaking of a $47 Billion Unicorn interviews employees of the company who were there from the beginning to pinpoint what went right that led to the inescapability of WeWork a few years ago, and what went so horribly wrong.
WeWork went from being valued at $47 billion to collapsing in a matter of months, largely because of the unchecked whims of Adam Neumann, who expanded without consideration of cost, and because of the the false promises made by the company's mission and its overinflated value.
WeWork: Or the Making and Breaking of a $47 Billion Unicorn • Official Trailer - A Hulu Original www.youtube.com
Above all, the documentary exposes the hollowness of value-driven corporations, and exposes how WeWork used its message of community to fuel the ambitions of those at the top. It also reveals how much of the company fell prey to its idealization of the rat race of hustle culture for very little reward.
So much of the documentary was surprising — the extent to which people bought into their brand's message, the internal cultish loyalty to Adam as the leader — and almost all of it seems, from the outside, insane. Startups are notoriously fickle, but WeWork's meteoric rise and fall was so catastrophic that it makes sense that there was more to its implosion than meets the eye.
The common lore of its downfall focuses on the loss of its major investor, SoftBank, alongside its reckless spending combined with its ambitious growth, but The Making and Breaking of a $47 Billion Unicorn shows how much was wrong at the core of WeWork and its culture from the start.
Critics of hustle culture and corporate activism (read: us) are not surprised by this capitalist Wizard of Oz story. Here are some of the wildest, most warped aspects of the WeWork documentary, which make us wonder how the employees on the inside didn't recognize their unicorn as an overinflated bubble waiting to burst.
Major Frat Vibes
Note the fist pump? Sorry Chet Hanks ... Maybe WeWork invented White Boy Summer
Start-ups have become notorious for their strange bro-heavy office cultures — which often means various ping-pong tables and lots of flip flops. As a co-working space, WeWork's frat vibes manifested less in the office and more in every single other aspect of the business.
Having grown up idolizing the parties in American college movies, Adam Neumann made sure to integrate them into his business model. The company had retreats for its employees, called summer camps, which looked more like EDM festivals than team meetings.
The summer camp clips looked like outtakes from Project X or Superbad, the kind of unhinged parties thrown by people who have never actually been to a good party and instead compensate by filling the budget with kegs and doing a lot of fist pumping.
But Also Kind of GOOPy
A strange component that was essential to concocting the overall in-cohesive WeWork vibes was Neumann's wife, Rebekah. A cousin of Gwyneth Paltrow, Rebekah's contribution to the WeWork dynamic was the kind of vacuous wellness-talk that feels very GOOPy, which is no real surprise.
Between ragers at the summer camps, the Neumanns would stand on a giant concert-like stage and talk about their vision for the company. Adam's original conception had always been focused on community, and Rebekah's influence made it increasingly more spiritual and less coherent.
Talk of "raising consciousness" became somehow tied to the mission of the company thanks to Rebekah, who was instrumental in founding the children's school that eventually became an offshoot of WeWork, WeGrow.
The whole concept of WeGrow was unhinged, but The Making and Breaking of a $47 Billion Unicorn exposes just how disconnected and delusional Rebekah and Adam actually were.
Adam's first venture had been for kids — a line of pants that were padded at the knees so young children could crawl comfortably, with the tagline "just because they don't tell you, doesn't mean it doesn't hurt." The company failed, for obvious reasons, but with seemingly limitless streams of money to channel into WeGrow, the children's school didn't meet the same fate despite its glaring conceptual flaws.
WeGrow was essentially an elementary school which claimed to offer a more holistic education, boasting curriculum features such as language immersion, yoga, meditation, music, and weekly farm visits. The school claimed to have community as its focus — but with a price tag ranging from about $36,000 to about $42,000, the community it was fostering was pretty narrow.After the Neumanns were ousted from the company, WeWork closed WeGrow, but Rebekah quickly bought it back — so it's still standing, churning out the minds of tomorrow… God help us.
WeGrow wasn't the only offshoot of the co-working part of the WeWork company. Pretty early on, WeWork launched WeLive, an apartment complex for WeWork members. The living community was mostly full of young, single people who could drop everything to essentially live in a WeWork.
Designed with the same functionality and intentionality as the co-working offices, the living spaces were built to foster work and community. One of the interviewees who lived in a WeLive describes being called by a friend about an opportunity for "the coolest people in New York," if he could break his lease without really knowing the details.
These kinds of hyperbolic sales pitches and high stakes trust that the company demanded were embedded in its culture from the beginning, and effectively enough to fill the WeLive spaces immediately upon opening. Residents describe their social lives shrinking to their relationship with other residents, with their outside friends barely visiting more than once.
At its peak, a person could have worked in a WeWork, lived in a WeLive, and taken their child to WeGrow to have a life ruled by a company posing as a "community."
Overall: Very Cultish
WeWork? or Adam Egofest
If the extensive nature of the "We" company sounds cultish, it's because it kind of was.
In the middle of the documentary, as the tables begin to turn, a former WeWork employee tells an anecdote about trying to explain the company to an outsider, to be met with the question, "brother, are you in a cult?"
From the beginning, the company was inextricable from Adam Neumann and his energy and his vision. More than once in the documentary, Neumann leads chants along the lines of "when I say We, you say Work," and the room erupts in the cacophonous sound of a quasi-cult.
Employees describe being taken in by Neumann's infectious energy and feeling like their work was directly linked to their self worth. Convinced they were changing the world, the work they could do for the company felt like what they could do for the greater good.
So, with the fall of the company and its charismatic CEO came the fall of the ideal, which left employees disillusioned and disjointed.
The Delusion to Disillusionment of Former Employees
What makes WeWork: or The Making and Breaking of a $47 Billion Unicorn so compelling was the fact that it is mostly filled with firsthand accounts from former employees who had been working at the company for a long time, and most of whom were very close to Neumann and the C-Suite.
It's easy to imagine a version of the WeWork story in which the delusion persists despite Neumann's departure — after all, WeWork is technically still standing. However, from Neumann's assistant to lawyers at the company, the documentary participants describe that the distance from Adam made them realize just how immersed they had been in the world he created.So much of the classic "toxic workplace" tropes were at play at WeWork, but this was no Devil Wears Prada. The demanding pace was set from the top but it came with a smile, a flick of Neumann's trademark long locks, and a message about community used to cloak the exhaustive grind culture and capitalist hell the company really was.
The Hollowness of the “We”
"I worked for a quasi-cult and all I got was this mug"
What made work at WeWork so fulfilling was the promise of being part of a greater collective — the promises of the "We." But those promises proved fickle when Neumann ordered large-scale layoffs left and right as the company burned money.
Emails were uncovered revealing executives bragging about how many people they had fired in their departments while Adam was buying a $60 million private jet and investing in wave pools.
The Scale of its Profit Losses
Turns out it was all smoke and mirrors
Though it eventually became obvious that WeWork was not making the amount of money it said it was, its valuation made it seem valid enough when they first considered an IPO, and the reality of the company's financials was even more horrifying than anyone assumed.
Neumann, a born salesman, had been spinning rhetoric that the company could "choose when to become profitable" and that its gains were measured on a standard adjusted scale. However, the adjustments WeWork was making to feign profitability were obscene — camouflaging large debt and burning through money with the assumption that their investors would pick up the bill.
Overall, the documentary was an elegy to an "era of easy money and no rules," according to Bloomberg Quicktake. Neumann reaped the benefits of a time when innovative tech startups were hailed as the new frontier, real estate was changing, and co-working was still just an idea.
However, his massive success came with a God complex which was eventually his downfall, all at the expense of the people he had made believe in him.
Toni Morrison has an anecdote about her first ever job, which was cleaning some neighborhood woman’s house. The young Toni arrived home after work one day and expressed her troubles to her father. But he didn’t provide the sympathy she expected. Instead, he gave her something better — his advice:
“Listen. You don’t live there. You live here. With your people. Go to work. Get your money. And come on home.”
Years later, she wrote about this remarkable experience for the New Yorker and said, in hindsight, this is what she learned:
1. Whatever the work is, do it well—not for the boss but for yourself
2. You make the job; it doesn’t make you
3. Your real life is with us, your family
4. You are not the work you do; you are the person you are
What Morrison so eloquently articulated was setting boundaries. I revisited this piece during the pandemic when working from home ramped up in earnest. Back when work was one of the few things that anchored my day.
Without a physical office, the pandemic shattered the work/life balance for many people. There was no more of that physical separation that Morrison talked about. There is no coming home from work physically. There is no real life to come back to — just a manufactured commute to your laptop in your makeshift home office.
But, par for the course, Gen Z are navigating this boundaryless era using TikTok. While internet gurus promote hustle culture and constant online availability since you’re not getting face time with your managers, there’s a trend in town — “quiet quitting.”
@zaidleppelin On quiet quitting #workreform ♬ original sound - ruby
The trend arose from the depths of the pandemic. Layoffs, salary cuts, and furloughs proved that their employers did not care about their hard-working employees.
The Washington Post dubs quiet quitting as a fresh trem for an old phenomenon: employee disengagement. In many cases, it’s a response to burnout. For much of Gen Z, it’s a way of establishing healthy boundaries in the office and resisting the pressure of the rat race. After all, why work yourself to the bone for a company that just proved it’s ready and willing to let you go?
Despite the term’s negative connotations, Quiet Quitting can provide an empowering shift in thinking for employees.
For far too long, employees have been indoctrinated with a slew of toxic workplace advice. Faced with these old misconceptions and lacking job security or clear paths for advancement, Gen Z is untethering their identities from work.
Quiet quitting — therefore — might be a bit of a misnomer. These employers aren’t completely disengaged. They’re certainly not launching Flight Club-esque sabotage attempts on their employers. NO. Contrary to media panic, Gen Z understands the value of a job — the fickle market they entered ensured that. But they also understand the value of life.
They’re doing what they’re being paid for. Nothing more, nothing less.
According to Chief, a private membership network focused on connecting and supporting women executive leaders, older generations should learn from this approach.
“Gen Z has already endured the largest seismic shifts to the career landscape than any previous generation, having started their careers in the middle of a pandemic that changed office culture forever and a gig economy that makes piecing together work more viable. They’re taking both those realities and therefore demanding more autonomy and flexibility than any other generation.”
Gen Z are less attached to job titles and statuses. They’re more concerned about their lives. Sure, this can lead to problematic outlooks on money and experiences — see the “I can earn my money back” TikTok trend. But it’s better than hustling for no reward. Besides, as some Gen Z-ers put it on TikTok, the office isn’t even a vibe.
“With the ability to work from anywhere and for more than just one place, Gen Z-ers are forging their own paths that don’t rely on old patterns set by previous generations and are redefining what “career success” looks like. Gen Z can take note, as more and more leaders are similarly pursuing multiple income streams of their own through the form of a portfolio career. The way in which work looks like and where it happens is evolving.”
With less single-minded focus on one job, some TikTok business gurus advocate shutting your laptops precisely at 5 pm. And then jump onto your side hustle. Do nails or lashes on the weekend. Become social media managers for your phone. Sell soap on Etsy (again … perhaps not in the Fight Club way).
But this valorization of side hustles is not about hustle culture, either. They say job security isn’t guaranteed. Learning new skills and develop an alternate income stream/s to keep you afloat. Just make sure you’re not left in the lurch. BTW inflation is here. So every little bit helps.
But where do you start? Watching TikToks can only get you so far. Try a course on LinkedIn Learning to sharpen up your skills and learn new ones that you can turn into a verifiable side hustle — or leverage in your job search if quiet quitting leads to … real quitting.
Learn on your own time with bite-sized videos or in-depth courses. Watch them after work, before you clock in, or on your lunch break. Then, after your courses are complete, you’ll have certificates prominently displayed on your profile that prove your skills.
There’s an internet trend that says that everyone has three drinks: one for energy, one for hydration, and one for fun.
Hydration drinks are usually seltzer, a sports drink, or good old-fashioned water. Fun drinks can be anything from boba to kombucha to a refreshing fountain sprite. But the drink you choose for energy says the most about you. Are you a chill tea drinker? An alternative yerba mate devotee? A matcha-obsessed TikTok That Girl wannabe? A chaotic Red Bull chugger? Or are you a lover of the classics, a person after my own heart, who just loves a good cuppa joe?
Coffee can come in many forms. Straight black, concentrated like cold brew for a heartier flavor, or a milky, sugary, frothy treat for a blend of energy and fun.
But the dreaded coffee descriptor: downright bad.
We’ve all been there — free hotel coffee, questionable diner coffee, disappointing overpriced coffee shop coffee. Pour one out for the cups we left unfinished due to sheer revulsion.
In those moments — taking a sip of bitter, bad bean juice and worrying that someone might know if we slyly spit it back into the offending cup — I start to wonder if the “make your coffee at home” brigade is right.
It’s a common point of contention in the personal finance community — but also in the world at large. Is it really such a monumental waste of money to buy coffee instead of making it at home?
If you go by the dollar, of course it’s cheaper to brew a cup at home. Plus, you’ll always know what you’re getting. It’s not exciting, but it’s not disappointing either. You'll never risk a truly awful cup unless you never learned how to use that French press of yours.
But what about the emotional cost? Especially during the heights of the pandemic, going out for a little coffee and a walk was one of the few indulgences we were allowed. Plus, there’s a reason coffee shops are always bustling and busy. They’re a place of communion. Of community. To gather intentionally, to bump into the same 9:47 a.m. crowd every morning on your commute, or to stumble into delight.
And, while the money you save making every single cup of coffee at home could compound into hundreds of dollars over your lifetime…is it worth it?
If your coffee habit is integral to your happiness — for so many of us, it is — don’t give it up. Add it to your budget alongside other delights that align with your values like your Apple Music premium subscription or your travel fund.
Maybe reduce other expenses like that accompanying pastry, disposable cups, or larger sizes over smaller ones. You can also find a middle ground. Save your coffee walks for a special occasion or reduce to a few times a week. A few times a week, why not splurge on an at-home coffee brand you truly adore to make yourself more likely to brew at home. Better yet: one you can take on-the-go. Never stoop to subpar coffee again!
Enter: Cometeer Coffee.
Cometeer is the latest coffee innovation: flash frozen coffee pods. They developed a proprietary extraction system that optimizes all the variables that lead to spectacular coffee. This is achieved with high-quality coffee beans, flash freeze them, and deliver the pods right to your door. Simply melt and enjoy.
26 grams of coffee go into each capsule, brewed with a process that’s carefully calibrated to extract as much flavor as possible from the beans — which are sourced from an array of the country’s best roasters. As soon as it’s brewed, it’s frozen at a chilly -321 degrees to lock in its flavor. The result? The perfect icy puck of the most complex coffee you’ve ever tasted.
And with a travel set to ramp up, having easy coffee pods on hand will be a game-changer. Everyone’s traveling — but travel better by packing Cometeer pods.
Based on research from the travel guidance firm The Vacationer, more than 42% of Americans are expected to travel this summer than last, while only 12% will travel less. (The 42% is a notable jump from the 25% who said they would travel more in 2021's survey.)
It’s the summer of revenge travel, promising lots of trips … which means endless nights, early mornings, and long airport lines. Get through them with coffee, but don’t settle for less than the best.
Cometeer's hyper-flavorful top-tier beans come from the world’s best roasters, ground and brewed with incredible precision, flash-frozen at peak flavor, and ready to be melted by you.
Making great coffee is hard, but melting great coffee is easy. Peel back the lid and drop it in a mug. Add hot water, enjoy. The end.
Over two years into the most momentous event in our lives the world has changed forever … Some of us have PTSD from being locked up at home, some are living like everything’s going to end tomorrow, and the rest of us are merely trying to get by. When the pandemic hit we entered a perpetual state of vulnerability, but now we’re supposed to return to normal and just get on with our lives.
What does that mean? Packed bars, concerts, and grocery shopping without a mask feel totally strange. We got used to having more rules over our everyday life, considering if we really had to go out or keeping Zooming from our living rooms in threadbare pajama bottoms.
The work-from-home culture changed it all. Initially, companies were skeptical about letting employees work remotely, automatically assuming work output would fall and so would the quality. To the contrary, since March of 2020 productivity has risen by 47%, which says it all. Employees can work from home and still deliver results.
There are a number of reasons why everyone loves the work from home culture. We gained hours weekly that were wasted on public transport, people saved a ton of money, and could work from anywhere in the world. Then there were the obvious reasons like wearing sweats or loungewear all week long and having your pets close by. Come on, whose cat hasn’t done a tap dance on your keyboard in the middle of that All Hands Call!
Working from home grants the freedom to decorate your ‘office’ any way you want. But then people needed a change of environment. Companies began requesting their employees' RTO, thus generating the Hybrid Work Model — a blend of in-person and virtual work arrangements. Prior to 2020, about 20% of employees worked from home, but in the midst of the pandemic, it exploded to around 70%.
Although the number of people working from home increased and people enjoyed their flexibility, politicians started calling for a harder RTW policy. President Joe Biden urges us with, “It’s time for Americans to get back to work and fill our great downtowns again.”
While Boris Johnson said, “Mother Nature does not like working from home.'' It wasn’t surprising that politicians wanted people back at their desks due to the financial impact of working from the office. According to a report in the BBC, US workers spent between $2,000 - $5,000 each year on transport to work before the pandemic.
That’s where the problem lies. The majority of us stopped planning for public transport, takeaway coffee, and fresh work-appropriate outfits. We must reconsider these things now, and our wallets are paying
the price. Gas costs are at an all-time high, making public transport increase their fees; food and clothes are all on a steep incline. A simple iced latte from Dunkin’ went from $3.70 to $3.99 (which doesn’t seem like much but 2-3 coffees a day with the extra flavors and shots add up to a lot), while sandwiches soared by 14% and salads by 11%.
This contributes to the pressure employees feel about heading into the office. Remote work may have begun as a safety measure, but it’s now a savings measure for employees around the world.
Bloomberg are offering its US staff a $75 daily commuting stipend that they can spend however they want. And other companies are doing the best they can. This still lends credence to ‘the great resignation.’ Initially starting with the retail, food service, and hospitality sectors which were hard hit during the pandemic, it has since spread to other industries. By September 2021, the US Bureau of Labor Statistics reported 4.4 million resignations.
That’s where the most critical question lies…work from home, work from the office or stick to this new hybrid world culture?
Borris Johnson thinks, “We need to get back into the habit of getting into the office.” Because his experience of working from home “is you spend an awful lot of time making another cup of coffee and then, you know, getting up, walking very slowly to the fridge, hacking off a small piece of cheese, then walking very slowly back to your laptop and then forgetting what it was you’re doing.”
While New York City Mayor Eric Adams says you “can't stay home in your pajamas all day."
In the end, does it really matter where we work if efficiency and productivity are great? We’ve proven that companies can trust us to achieve the same results — or better! — and on time with this hybrid model. Employees can be more flexible, which boosts satisfaction, improves both productivity and retention, and improves diversity in the workplace because corporations can hire through the US and indeed all over the world.
We’ve seen companies make this work in many ways, through virtual lunches, breakout rooms, paint and prosecco parties, and — the most popular — trivia nights.
As much as we strive for normalcy, the last two years cannot simply be erased. So instead of wiping out this era, it's time to embrace the change and find the right world culture for you.