The We Company Wants Your Life

The co-working giant WeWork has been renting desks to small entrepreneurs and Fortune 500 companies alike. But it doesn't want to stop there. This is the story of how WeWork turned work into a lifestyle and wants to change the world next.
Video by Gloria Kurnik
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[@business]

We apologize for having to re-upload this video, which likely sent out multiple notifications. The original version had a glitch in the audio and was replaced.

[@PresidentialWinner]

We understand and accept your apology. We find your videos interesting and we will watch more of them. We are getting new information from them and we are using the word we way too much aren't we?

[@FrankDeMarco]

Thanks for taking the time to explain AND for uploading the glitch free version!

[@jzk2020]

We Applogize. We Will. We Hope.

[@peacex7697]

song info ?

[@Iusedtohavemojo]

@@peacex7697 Seb LeBrox "We will survive"

[@zachshipstead5247]

So I just watched a video about a company who rents out office space, but pretends they're Apple. So that was a thing.

[@hayaglamazonluxe]

LMAO so true

[@petergriffin9902]

3 cult/ponzi Red flags 1. Classic ponzi concert and success sharing event 2. Community is spammed everywhere 3. "You are self-employed"

[@alexng4]

OMG....I"m sold..take all my money now!!!!

[@LuizSMatos-dr9tz]

I Just watched the former Soviet Union live style portraited as cool... colectivism! We over I.. That was a thing

[@kqp1998gyy]

and...the lease rates? $700-800/month for a 40sqf. A joke.

[@Colddirector]

My cult alarm is going nuts right now. I wouldn’t touch this place with a 10 kilometre pole.

[@PresidentialWinner]

We agree

[@petergriffin9902]

3 cult/ponzi Red flags 1. Classic ponzi concert and success sharing event 2. Community is spammed everywhere 3. "You are self-employed"

[@nobody.123]

My *_bankruptcy_* alarm is going nuts.

[@mydaan1]

a bit but theyve got a point in some things

[@101m4n]

​@@mydaan1The company claims to want to "elevate the worlds consciousness" I'm not sure _a bit_ quite covers it Cults often try to capitalise on disdain towards aspects of life. Plenty of people don't like the 9 to 5 or the grind of working a job they don't like.

[@Quinicus]

Overpriced outsourced office management. 😂

[@alfredhitchcock45]

All Fortune 500 companies are overpriced anyway.

[@itisTHEMUFFINMAN]

Anything beats fluorescent lights and grey cubicles that makeup 90% of all office spaces. Idk about community and consciousness, but I welcome a warmer work environment with open arms. It's simple less depressed employees = more productivity

[@Usenabt]

Price can never be true, cost is the closest thing that can be justified

[@blahblahblahblah2837]

@@itisTHEMUFFINMAN I think you're right. It clicked when they said they had big commercial contracts - all of these companies think that if they create a 'Google-like' workplace for their staff, then they will attract Google-tier results. You might see some improvements in productivity as people feel a bit better about going to work each day, but it's not a magic bullet to solve procrastination and fatigue. The problem is that there's only so many Google-tier employees (people with crazy skills, creativity and intelligence). You won't get Google-level results and profits from hipster living room offices if you're still employing the same, everyday-people workforce.

[@098Teo]

You don't know how much we spend w HR... lol

[@hardsoftworks]

After being in a WeWork space for 8 months, I never felt more isolated in an office environment. This is as much about "a community for creatives" as Spotify is about increasing album sales for musicians.

[@hardsoftworks]

@Andre Bonaparte NYC

[@hellowhitepeople]

I'm actually wondering, since they use dancers and singers in their promo for WeWork...does we work have "work spaces" for creatives, like pottery classrooms or music studios or is it just desk space for tech-heads?

[@kalel0984]

I work in a WeWork in NYC and i agree. I also find the whole thing absurd. I can hear the conversations of the people in-front and behind me in my private office space. There are no privacy screens so every time a person stands up there is the awkward is he/she looking at me period. Every time someone walks by the private office i can see them, etc.

[@Jfofito]

JR lol. That’s actually funny.

[@agriswold2009]

JR I work in a Nyc wework as well and I agree 100%

[@CoderShare]

As a remote developer, I worked in 2018 out of over 150 different libraries along the Eastern seaboard. Total Cost = my taxes

[@steverogers8163]

Yeah I was going to mention that. If you want a quite place to work that isn't your home go to the library. Alternatively if want a noisy place go to a Starbucks.

[@1compaqedr8]

I assume you travel around while working remotely. Do libraries charge you if you aren't a resident of that county?

[@daniswara1164]

More like a scam + cult + over hyped marketing than a real company

[@rajatbansal512]

Whats scammy about this thing .

[@tazwanandurson]

Rajat Bansal if you look at the economics it doesn’t scale well and a similar company with more revenue is worth only 4 billion.

[@rajatbansal512]

@@tazwanandurson They are not giving the investors wrong figures investors no the figures . If they lie than you can call it a scam .

[@alfredhitchcock45]

It's like a cheaper rent for startups. Of course they need to hype themselves like all companies do.

[@anshulbhandari9870]

they are knee deep in debts. dickheads can't even pay their leases and will go bankrupt soon.

[@ryN45678]

weWork sucks man. I was officer there with a startup I worked for, and we spent most of our time missing the incubator share space we moved out of. Their app is a broken joke, their offices are overpriced, the fact they they know what Restoration Hardware and West Elm are gets old real fast, and no one gives a shit about the other people in the space. Everyone gets to work and just puts their head down, until WeWork caters some food or booze then ppl get to talking... but food and booze get folks talking literally anywhere, WeWork didn't invent casual conversation.

[@winstonhuang2552]

remember back in the day when the big companies made real things like cars and planes and steel

[@goyonman9655]

I know right

[@giolag5593]

Reminds me of Theranos...it emits the same creepy cult feeling..let’s see how long it will take for this bubble to burst

[@healthcarematters887]

How comforting to know they are counting your toilet flushes.

[@Loppy2345]

In the next recession, WeWork will be the first startup to go down.

[@danielmorse922]

It's going to get hurt badly in the early part of a recession, but I'm not so sure it'll be that bad over the whole thing. There are a couple of reasons for this. 1.) As companies downsize during recessions they are going to need smaller offices quickly and WeWork could capitalise on that. Think a big American company with a London office with 200 people that they want to cut down to 20. WeWork would be perfect for them. 2.) Even though companies go bust during a recession, new business creation actually goes up (mainly because a lot of smart people find themselves out of work and need to try *something* to make money). This could be a major upside for WeWork. Don't get me wrong, I would love to see their little "work is life" cult end, but they have ways that they can play this and if they are smart they will already have war-gamed these scenarios.

[@yxd00181]

@@danielmorse922 didn't they have to compete with other commercial landlord? Do they own the building outright? Isn't it cheaper to make your home office during recession?

[@danielmorse922]

@@yxd00181 yes, but a traditional commercial lease takes a long time to negotiate in comparison to a WeWork, and those commercial landlords will want longer agreements than early stage startups and companies that are downsizing are willing or able to give them (in the case of the startup, because they might soon need a bigger office, in the case of the downsizing company because there might soon be no office). As for the idea of "making your home your office", well, that's great if you live in the suburbs and have space to spare, but in major cities where people don't have a spare room to dedicate to doing work it's not going to be practical for a lot of people.

[@hanbulban3131]

Wow nice prediction this really happened

[@hepthegreat4005]

Yup.

[@maxwellmiles2430]

As a introvert, I would pass on the offer Rather work alone and concentrate on my work

[@bgtcsjm]

Exactly, it's creepy to see the hype being shown in this video.

[@Blazerelf]

I don't know why, but I'm starting to get annoyed with everyone using the typical steve job slogan and mockup of his dress code

[@goyonman9655]

sooo annoying

[@christopherwillson]

Neumann just seems creepy and confident, not charismatic

[@itisTHEMUFFINMAN]

The editing isn't too great here..

[@hellowhitepeople]

yeah, i feel like we've seen this archetype over and over again: a well-meaning chill white dude who looks dusty as hell but actually comes from a lot of money evangelizes work equals community equals life. its not hard to be skeptical.

[@Sport4Life]

Yeah comes probably from volunteering for a genocidal army built by terrorists and psychopaths.

[@HiddenWen]

Same vibe I get. Also, I find him shallow and untrustworthy.

[@a.gabbey5569]

Reminds me of Elizabeth Holmes

[@vid6819]

Well this video aged like a warm yoghurt

[@TimothyRudy]

We Work will be the Enron of this decade.

[@Zero11_ss]

That sounds exciting, hopefully i can catch it in time

[@nobody.123]

The downfall of WeWork will likely be even worse. Enron was huge (largest bankruptcy on record at the time), much larger than WeWork, but WeWork has its cancerous-tentacles stretched across so many companies far and wide, it's a big-tech-capitulating Octopus in the deepest depths of leverage.

[@maxdondada]

Coming soon. We Kool-aid! Let's all have a drink.

[@smallbluemachine]

^ THIS

[@stc2828]

Lmfao this company is worth 49 billion, that put it at the same value as Tesla which sells 300k cars a year! The most overvalued company on earth!

[@satrioekowicaksono7452]

The bubble will burst

[@nealkelly9757]

Tesla is overvalued also, it is now just $39 Billion at the time of this comment

[@khale7180]

@@nealkelly9757 now $90 bil even in this economy

[@mrscreamer379]

We want to change the world. .. here we go again. Into what exactly? Can't you just leave the world alone? What has it ever done to you? Why do I have to put up with the changes you want to make?

[@Muzikrazy213]

This is easily the best unsolicited response to that old tired mantra I've ever heard.

[@soniakentaro8391]

😂😂😂

[@a1bells501]

Lol 🤣 facts every company wants to change the world 🤣

[@goyonman9655]

I know right??

[@nishantaadi]

Fuck so true dude. 😂😂😂

[@666j1]

Hey i know! Apple uses "i" for everything like iPhone and iMac. Let's replace that with WE!

[@pureumkim5154]

Enhancing real estate value is not easy...also once firms start cutting down..it will get ugly- I see a potential book/ movie coming out of wework-

[@sortsvane]

Nah thanks . My dorky little room is just fine .

[@arbaz79]

Probably the Most Overvalued company.

[@leodahvee]

it actually is

[@hubertschiff6485]

SoftBank having your back is making it hard to fail

[@blahblahblahblah2837]

Like, who are the big institutional investors who are actually listening to this guy and thinking, "I'm definitely going to make at least a 15% return on my investment, I'll put $100M of my portfolio into this" or even think that this company could produce profits like Apple or Google??

[@rx6277]

Don't forget magic leap.....

[@dmhendricks]

Probably?

[@joancrawford5781]

Am I the only person who looks at this type of office space and sees it as a setup for not actually getting any work done? I mean there's like fifty million distractions - food, coffee-house type spaces, games, social lounges - they've got everything but a casino and nightclub in these spaces!

[@eliyalee1684]

Visited a wework near seoul station in Korea to meet a friend and got to tour the facilities a little. The space was nicely furnished, but I didn't get any of this community vibe the cofounders are talking about. There were a bunch of startups designated into separate rooms that only felt connected in the sense that you could see through the glass doors. I was shocked to find that there were like 30+ people working in this room that housed my friend's company. Like there were a couple of macbooks sharing a corner and since there's no walls, my friend said you can totally feel other people's eyes on you while you're working. I also remember the odd meeting room with high chairs that looked really uncomfortable to sit in for however long the meeting is. I mean the karaoke machine downstairs was fun I guess. And the coffee machine was neat. I also remember tapping the card against the scanner for the elevator being a pain because it sometimes would not register. I visited during the weekends when it was less lively, so maybe my perspective is a little skewed. But if this is the future of work...I think I'd stick with a cubicle so I at least get some privacy.

[@24hourtourist]

We Work is completely overvalued. Sure, they are "diversifying" now but their concept is based on an erroneous valuation of demand in the commercial real estate market, especially offices. I live near a couple of their buildings and the frequency of space use is visible to me because the places have a transparent glass front on all their floors. Most work areas are not private and guess what - no matter what time of day I walk by, the buildings are always completely empty - and I mean always! I hear from clients who have dealt with them that their office lease cost is in no way competitive in the market with an average 20% above area rates. We Work is strictly a real estate company but valued like a tech company and it seems to me that the only reason they are doing relatively well on Wall Street (for now) is because they are a way for the big banks and other plutocratic monopolies like money exchange services and cable companies to sink their billions into by declaring real estate as currency through an insurance middleman. Wait a minute - did we not go through this already back in the 90's and again in '07-'08? This is a gigantic bubble waiting to burst.

[@tanya292]

People are basically rejecting the communities they are already part of. Family, extended family, friends, co-workers. And are looking for like minded people. But that's more difficult and you are friends with the same kind of people. Nobody to tell you that you are wrong or something.

[@Iusedtohavemojo]

I've been in a cowork company similar to we work. There was many drawbacks. One is phone calls. You don't want everybody listening on your business calls and certainly not others while you work. You have rooms for calls but it's really annoying to get up each time you want to talk and most of the time you want the computer in front of you. I don't think this concept works. Btw there are crazy many of them opening and they have big trouble filling them up already in my City(European capital)

[@Tomi_janet15]

Same in London

[@Christine-Tina]

I genuinely still don't understand what the company is about...

[@ryanlusk761]

basically a property management company. They mass lease an area and then sub lease parts of that area to the "entrepreneurs." I heard they take on long term leases which help lower their lease costs as well. Although it can be a money maker when the economy is good (more business = more demand and less supply of office space driving up prices) when the economy goes bad that is where WeWork can get into trouble. When the economy has a downturn such as Calgary when oil crashed a few years ago, there is this huge vacancy of office space. It all depends on how WeWork structures there risk management whether they continue at a less profitable rate, start taking losses or just collapse because they are not bringing in enough sub lease money to fund the company & pay the building lease. One thing to note, because WeWork has so many buildings it insulates the risk if one of their buildings fail. In a global collapse, well it could lead to quite the steam roll of a disaster. I feel right now WeWork is a magician, through their "marketing to create a better world", flashy people come together ideas and other marketing tactics they do something simple but wow the viewer. WeWork is no different than your average Joe who buys a strip mall and starts sub leasing the units. They may make better decisions because of all their access to data, talented decision makers in this field and a lot more cash to throw around but both WeWork and Joe pay money to have access to a multi unit property and lease them out to generate profit. I guess from a psychology point they get so many people interested because it is trendy, it's cool much like supreme is a simple idea but the marketing makes it seem cool. Everyone wants to be in the "it thing" so you get all these investors paying more attention to their emotions and just throwing money around. Also I can't speak for everyone (I'm perfectly comfortable working out of my construction trailer or truck) but they sell this vision that it's the place to have fun at work or it's the place to change the world or pretty much they sell you that you will get what you want working at WeWork. You get so much of this crap shoved down your throat you almost don't see they are a simple property management company.

[@yxd00181]

@Brianna are you sure most space of we work are owned outright?

[@Diddy1970AD]

@Brianna. WeWork don't own the vast majority of the buildings, they lease each building on a fairly long term basis ie 5-25 years.

[@scifikoala]

I inherently distrust all of these hip lifestyle workplaces. One of my college classes toured an office like this for a small company and right away something seemed off about the CEO, though he was quite charming. He even happily referred to himself as "manipulative". Within a half hour, he was eating canned dog food (one of the company's clients) and basically told the class "If you eat some of this too, I will personally help you get a job when you graduate. And over half the class *did*. It was probably one of the most obvious moments I've ever seen of people succumbing to creepy cult-like groupthink, and everyone including the prof acted like it was totally fine and normal

[@j.baldwinwasagenius...7575]

Omg

[@1compaqedr8]

Disturbing

[@juanjaramillo96]

I can't be the only one who thinks "Sorry to Bother You" was using WeWork as a base for their company.

[@spark7429]

Yes! I knew that this reminded me of something.

[@chinwelouisa1394]

Juan Jaramillo yasssss!

[@mayummanusmatrbhulnepatr840]

SpaceX a startup! What is the definition of a startup I now wonder

[@stc2828]

NEW companies that yet to have IPO.

[@franrapallo]

@Ceyhun ay 2 trillion*

[@thawhiteazn]

Sorry if I missed it, but what exactly is this company’s product?

[@aj2291]

SoftBank rarely pulls out of investments. Red flag 🚩#1. We work doesn’t own any proprieties (would increase their evaluation, if you’re thinking Uber- cars aren’t an investment). That’s red flag 🚩 #2.

[@LazyIndieGamer]

This is like renting an apartment with a bunch of room mates. Nah, hard pass.

[@gueraloca416]

Is the creation of an app really that extrodinary to justify someone's purpose in life? The most dangerous aspect of the Wework system is its constant surveillance and data collection from its tenants.

[@tammcd]

WeScam.

[@goyonman9655]

lol

[@avicohen2k]

I think for most it's just a cool hip affordable place to work as a freelancer or small entrepreneur. They don't care about the communal vision that much.

[@Jamie-un7bh]

The opening reminds me of BITCOOOOOOOOOOOOOOOOOOOOOOONECT

[@pelckarol]

4 years 0-400 locations. That's amazing! Hype is amazing driver of the business. This guys is a marketing genius!

[@alekv212]

Kindergarten for immature adults. We pretend to have jobs, should be the company name

[@MrJohn-wy2hn]

lol

[@epi2045]

Been to several wework locations. Like a cheap office where everyone does meetings in an office lobby.

[@StaticElectricGaming]

All that value comes from the data they collected

[@johnpathadan]

Another Theranos in the making

[@juanjaramillo96]

Also I worked at a WeWork. Basically I stayed in my office and took the free shit when they gave it out. Honestly was a low stress communal area and the fact they had outisde food vendors was uber helpful

[@mkiller1001]

I don't understand all these salty comments wishing nothing but ill things for WeWork, its founders and members...What's wrong with you people? I've been reading these kind of sick comments since 2016, so much negativity and envy, Adam achieved something that's almost impossible. He built a huge brand, launched millions of startups and inspired tens of millions everywhere. Don't be jealous of much greater men then yourselves, if you think that WeWork is overvalued then I'm sure that much smarter fund managers who invested into it including SoftBank would have figured that out by now but everyone is betting big on it. Everyone said the same kind of crap about Google back in its early day and look at it now!

[@odee126]

5 seconds in and im asking myself if wework really is a cult

[@Labbedds]

We have two 6 person spaces in Dallas. I do enjoy the space and our team likes the flexibility of the conference rooms and huge hot desk and common area. The biggest problem we have is getting to scale. If we add another 6 people and go to 18 team members we are looking at roughly 9k a month in lease/rent. It just doesn’t make sense. At that point we will be leading a space for $25 sq foot/year which would get us around 3000 square feet. We would stay if they made scaling easier or more flexible.

[@JC-br1nm]

change the world? so whos gonna grow food, fix machinery, construct buildings, etc etc etc if everyone is in an office all the time?

[@ilovemotor]

I built my business in my house, I'm surrounded by my dogs and cats when I work. I will hate to sit in an office with so many strangers around. Super awkward and I won't be able to focus

[@v01c3]

“Wassup wassup wassup wassup wassuuuuuuup!”

[@WesternUranus]

"Bitconneeeeeeeeeeeeeeeeeeect" 😂

[@levprotter1231]

Comments going on about how it is a 'cult'. The argument is valid for all corporate culture.

[@maybeyourbaby6486]

Openly saying basically "Your work should be more than just work, you should slave away and feel stressed out all hours of the day to make us more money :) :) :) :)" is setting off a whole lot of alarms for me, but I bet way more companies would encourage their employees to have that attitude if they could pull it off. Just insane to me how science says that we're as productive or more productive on a 6 hour workday than an 8 hour workday, but big companies are glorifying overworking yourself and sacrificing your health for profit.

[@rogofos]

Americans:*criticize USSR for communalkas* Also americans:"COLIVING IS THE FUTURE!" Americans... americans never changes...

[@kingsaf90]

this is the perfect space for wantrepreneurs

[@abhaysharma9317]

WeComment. Use the word we more often to show how much you care about the community even if you don't give a damm about it.

[@666j1]

WeCare

[@SkyZon]

WeChat

[@JohnSmith-wz1ev]

This has a higher valuation than every major us airline

[@desp8161]

And its just a company that owns 930000m2 of office

[@alanramirez472]

It’s own ambitions is what is killing the company.

[@MrSongib]

From my perspective, he just rent a place for workers? Did I'm wrong?

[@MrPrentissDJones]

I love ❤️ we works/rise Interested in we grow, What type of learning philosophies will they follow?

[@thesophialiu]

Can you do a video like this for The Wing?

[@fdr100100]

As long as you work for someone you will never feel free no matter how good the work environment if you are part of production you will always be a slave

[@JakeMan06]

We all serve someone. Entreprenuers put in insane hours to serve their customers. Not everybody's day job is a living hell. Employee or business owner, we're all cogs in the capitalism machine. I've experienced both ways of working.

[@jackxiao1054]

looks like my community college library.

[@Atipat12]

AWESOME

[@PresidentialWinner]

Mountain Man: SQUEAL LIKE A PIG! Bobby Trippe: *WEEEEE WEEEEEE* - Deliverance 1972

[@666j1]

We Virtue Signal

[@AH-mj1rd]

I sell fully equipped office containers, just drop on a concrete foundation and start working

[@elfacisco]

so pay for your own Dystopian Place :) nice

[@sef2000]

We want to track your "Grow", "Work, and "Live"

[@yastilrughbeer9910]

Basically designed a school for adults

[@nicholashirayama213]

I still don’t get weworks value prop or unique selling point. Shared office with craft beer? What is it

[@snitox]

We work needs a supplement that I am working on right now.

[@samuelec]

WeWork ..without supporting Linux, basically only windows and mac users can print, connect to display, etc..

[@jackryan2135]

They have ridden the debt/asset bubble for all its worth.

[@Techn9cian123]

This is a cult.

[@atimanavprashant]

Hahahaaaaahaaaaaa...!!!!!! And i thought my jokes were bad.

[@sohail7796]

One of the most over valued start-up

[@whitebonsai]

Startups never make any sense when they are VC funded.

[@yugantargupta535]

The next theranos in the making

[@gabehcuodsuoitneterp203]

What about the security risk of allowing a fly-by-night into your Fortune 500 space? They admit to monitoring the spaces these companies inhabit, albeit for x “communal” reason. Is this data collected Open Source for all to review what kind of information is collected?

[@ErickOberholtzer]

And the award for scariest KZbin video title goes too...

[@dalanium98]

damn the animation is so nice

[@SkyZon]

They should just buy WeChat off of Tencent at this point if they're gonna track so much.

[@jonathanwoo9829]

I dont see the advantage, i can network via social media, and if I start a company I would want my own space.

[@texgale2466]

its starting to feel like a bubble.....

[@buptalex0215102]

Nice place to hangout

[@098Teo]

I mean, as an entrepreneur, it's better to go to WeWork than Starbucks or stay at home a week straight

[@marka895]

Title of the music at the beginning of the video please!

[@subhasarkar8823]

Yup they elevated the investor's consciousness though.

[@natsunatsumi7424]

How they get the valuation?

[@abhijayant4715]

*I was there as a Media when WeWork Officially did Press Confrence in INDIA* 🇮🇳 now lemme try my Chance to work with WeWork😍

[@PepinsSpot]

I heard about them in the tv series "Broad City" and I thought it was a made up joke.

[@surenderyadav7738]

Why do i get feels of BITCONNNNNNEEEECCCT.

[@challway5767]

Do you want to rent work/office space through a middle man? Nope, neither do I

[@hugol648]

We worked ... 😟

[@bjach]

Massive respect to idea and their work. WeWork best wishes.

[@arja2317]

I hate this kind of shit because it works for a small portion of creative jobs but the CEOs of companies that do things like manufacturing and call centers try and implement this stuff, but it's still "work as hard as you can for as long as you can for as little as we can pay you" but then at your break you are forced to stand in line and take a shitty handout like "free coffee" from corporate people that think we should all fall at their feet because it's so silly they are down there and they do so much for us, basically getting treated like a child when you're done being treated like a robot. Anyway, the yuppie life looks nice, the rest of us that are suck in the shitholes those kids parents sent them away from are getting all the shittiest parts of the trends they make, so I can't wait for the humorless neon signs telling me to work more like bizzaro-soviet propaganda in a culturally appropriated manner inaccurate to and undercutting the word's original meaning (hustle harder) come to my neck of fly over country. Thanks other millennials.

[@0neAutumnLeaf]

@4.21 the map is missing New Zealand :'D

[@Muzikrazy213]

John Oliver strikes again!

[@Frenchkisssss]

We(dont)Work cause we Unemployed.

[@benmarsh8166]

Reminds me of fyre festival