[imagesource: Michael Kovac/Getty]
Over the course of a year, co-working start-up WeWork went from having a $47 billion valuation to needing an $8 billion bailout.
The unprecedented crash and burn of the company, headed until late 2019 by the enigmatic Adam Neumann, is a tale for the ages.
In a very short space of time, a number of investigative pieces have cropped up as people try to make sense of how everything went so horribly wrong.
The latest takes the form of a podcast, and might be the most in-depth look at the scandal to date.
In the early days of WeWork, Adam Neumann gave Eliot Spitzer a tour of one of the co-working company’s Manhattan locations as he pitched the former New York governor on a potential investment.
“I was sitting on some kind of ball,” one of the WeWork members at the company’s 222 Broadway location recalled. “I looked to my left and Eliot Spitzer was right there kind of looking across the entire floor with a smile on his face.”
That was one of the insider details revealed in the new podcast series, “Foundering,” from Bloomberg Technology, which focuses on some of the biggest stories in Silicon Valley.
The first season is narrated by Bloomberg reporter Ellen Huet and follows the rise and fall of WeWork, by tracing the company’s path from its origins through to its rise to prominence, and finally its implosion last year.
Listen to the trailer:
You can find full episodes here.
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