WeWork’s Failed IPO Leaves a Lasting Impact on the Stock Market

Subscribe to Foundering on Apple Podcasts
Subscribe to Foundering on Spotify
Subscribe to Foundering on Pocket Cast

34||h<10)||window.opera||t.addEventListener("progress",function(t){e.lastSize=t.loaded},!1)}),u.on("open-xhr-start",function(t){this.params={method:t[0]},o(this,t[1]),this.metrics={}}),u.on("open-xhr-end",function(t,e){"loader_config"in NREUM&&"xpid"in NREUM.loader_config&&this.sameOrigin&&e.setRequestHeader("X-NewRelic-ID",NREUM.loader_config.xpid);var n=f(this.parsedOrigin);n&&n.header&&(e.setRequestHeader("newrelic",n.header),this.dt=n)}),u.on("send-xhr-start",function(t,e){var n=this.metrics,r=t[0],o=this;if(n&&r){var i=m(r);i&&(n.txSize=i)}this.startTime=a.now(),this.listener=function(t){try{"abort"!==t.type||o.loadCaptureCalled||(o.params.aborted=!0),("load"!==t.type||o.called===o.totalCbs&&(o.onloadCalled||"function"!=typeof e.onload))&&o.end(e)}catch(n){try{u.emit("internal-error",[n])}catch(r){}}};for(var s=0;s

1?t[1]=i:t.push(i)}else t[0]&&t[0].headers&&(t[0].headers.append(“newrelic”,o),this.dt=r)}})}},{}],17:[function(t,e,n){var r={};e.exports=function(t){if(t in r)return r[t];var e=document.createElement(“a”),n=window.location,o={};e.href=t,o.port=e.port;var i=e.href.split(“://”);!o.port&&i[1]&&(o.port=i[1].split(“/”)[0].split(“@”).pop().split(“:”)[1]),o.port&&”0″!==o.port||(o.port=”https”===i[0]?”443″:”80″),o.hostname=e.hostname||n.hostname,o.pathname=e.pathname,o.protocol=i[0],”/”!==o.pathname.charAt(0)&&(o.pathname=”/”+o.pathname);var a=!e.protocol||”:”===e.protocol||e.protocol===n.protocol,s=e.hostname===document.domain&&e.port===n.port;return o.sameOrigin=a&&(!e.hostname||s),”/”===o.pathname&&(r[t]=o),o}},{}],18:[function(t,e,n){function r(t,e){var n=t.responseType;return”json”===n&&null!==e?e:”arraybuffer”===n||”blob”===n||”json”===n?o(t.response):”text”===n||””===n||void 0===n?o(t.responseText):void 0}var o=t(20);e.exports=r},{}],19:[function(t,e,n){function r(){}function o(t,e,n){return function(){return i(t,[f.now()].concat(s(arguments)),e?null:this,n),e?void 0:this}}var i=t(“handle”),a=t(25),s=t(26),c=t(“ee”).get(“tracer”),f=t(“loader”),u=NREUM;”undefined”==typeof window.newrelic&&(newrelic=u);var d=[“setPageViewName”,”setCustomAttribute”,”setErrorHandler”,”finished”,”addToTrace”,”inlineHit”,”addRelease”],p=”api-“,l=p+”ixn-“;a(d,function(t,e){u[e]=o(p+e,!0,”api”)}),u.addPageAction=o(p+”addPageAction”,!0),u.setCurrentRouteName=o(p+”routeName”,!0),e.exports=newrelic,u.interaction=function(){return(new r).get()};var h=r.prototype={createTracer:function(t,e){var n={},r=this,o=”function”==typeof e;return i(l+”tracer”,[f.now(),t,n],r),function(){if(c.emit((o?””:”no-“)+”fn-start”,[f.now(),r,o],n),o)try{return e.apply(this,arguments)}catch(t){throw c.emit(“fn-err”,[arguments,this,t],n),t}finally{c.emit(“fn-end”,[f.now()],n)}}}};a(“actionText,setName,setAttribute,save,ignore,onEnd,getContext,end,get”.split(“,”),function(t,e){h[e]=o(l+e)}),newrelic.noticeError=function(t,e){“string”==typeof t&&(t=new Error(t)),i(“err”,[t,f.now(),!1,e])}},{}],20:[function(t,e,n){e.exports=function(t){if(“string”==typeof t&&t.length)return t.length;if(“object”==typeof t){if(“undefined”!=typeof ArrayBuffer&&t instanceof ArrayBuffer&&t.byteLength)return t.byteLength;if(“undefined”!=typeof Blob&&t instanceof Blob&&t.size)return t.size;if(!(“undefined”!=typeof FormData&&t instanceof FormData))try{return JSON.stringify(t).length}catch(e){return}}}},{}],21:[function(t,e,n){var r=0,o=navigator.userAgent.match(/Firefox[\/\s](\d+\.\d+)/);o&&(r=+o[1]),e.exports=r},{}],22:[function(t,e,n){function r(t,e){var n=t.getEntries();n.forEach(function(t){“first-paint”===t.name?c(“timing”,[“fp”,Math.floor(t.startTime)]):”first-contentful-paint”===t.name&&c(“timing”,[“fcp”,Math.floor(t.startTime)])})}function o(t,e){var n=t.getEntries();n.length>0&&c(“lcp”,[n[n.length-1]])}function i(t){if(t instanceof u&&!p){var e,n=Math.round(t.timeStamp);e=n>1e12?Date.now()-n:f.now()-n,p=!0,c(“timing”,[“fi”,n,{type:t.type,fid:e}])}}if(!(“init”in NREUM&&”page_view_timing”in NREUM.init&&”enabled”in NREUM.init.page_view_timing&&NREUM.init.page_view_timing.enabled===!1)){var a,s,c=t(“handle”),f=t(“loader”),u=NREUM.o.EV;if(“PerformanceObserver”in window&&”function”==typeof window.PerformanceObserver){a=new PerformanceObserver(r),s=new PerformanceObserver(o);try{a.observe({entryTypes:[“paint”]}),s.observe({entryTypes:[“largest-contentful-paint”]})}catch(d){}}if(“addEventListener”in document){var p=!1,l=[“click”,”keydown”,”mousedown”,”pointerdown”,”touchstart”];l.forEach(function(t){document.addEventListener(t,i,!1)})}}},{}],23:[function(t,e,n){function r(){function t(){return e?15&e[n++]:16*Math.random()|0}var e=null,n=0,r=window.crypto||window.msCrypto;r&&r.getRandomValues&&(e=r.getRandomValues(new Uint8Array(31)));for(var o,i=”xxxxxxxx-xxxx-4xxx-yxxx-xxxxxxxxxxxx”,a=””,s=0;sMegaphone Player

FounderingSeason 1, Episode 6, IPO — Just KiddingThe WeWork Story, Part 600:43:43

ShareSubscribeCookie PolicySubscribe to FounderingKeep up to date by subscribing to this podcastShare Season 1, Episode 6, IPO — Just KiddingShare this episode with your friendsCookie PolicyThis player is hosted by Megaphone, a podcast publishing platform. By using Megaphone’s player you are consenting to our use of cookies, which we use to improve user experience. Please refer to our privacy policy to learn more.

A year ago,WeWork wasgetting ready for one of the decade’s most anticipated initial public offerings. The company had spent nine years chasing lightning-fast growth, burning through billions of dollars and expanding around the world. In 2019, WeWork reached a turning point: It needed even more cash, and co-founder Adam Neumann decided to take his company public.

But suddenly, in the span of a few weeks, his plan crashed spectacularly. The almost-IPO flopped, and WeWork became a laughingstock. In the sixth episode of our podcast series Foundering, we reveal how the company’s fortunes flipped so fast, why no one there saw it coming and how the experience permanently changed expectations for future companies.

— With assistance by Gillian Tan, and Sarah McBride

Source: Read Full Article