WeWork

Founded in 2010 by Adam Neumann and Miguel McKelvey, WeWork burst onto the scene with all the subtlety of a confetti cannon at a board meeting, promising to revolutionize the office space industry with its hip co-working spaces and cult-like enthusiasm. Known for turning bland office buildings into open-plan playgrounds complete with artisanal coffee and beanbag chairs, WeWork's defining moment came in 2019 when its IPO crashed harder than a startup founder at a venture capital mixer. Valued at a dizzying $47 billion at its peak, it saw its stock price plummet faster than Neumann’s reputation post-IPO, thanks to a blend of overhyped growth projections, questionable management practices, and a questionable penchant for hosting lavish company parties. Amid scandals including a mysterious $6 million 'consulting fee' and rumors of Neumann's unorthodox leadership style—like reportedly wanting to call himself “the World Trade Center”—WeWork’s journey is a cautionary tale in high-flying ambition turned toxic. Now struggling under a valuation that’s a fraction of its former self, WeWork, under the leadership of Sandeep Mathrani, is grappling with the fallout, trying to rebrand its way out of a murky mess of over-promised dreams and under-delivered results.