World / Tech

How to Get Rich By Losing Lots of Money

Posted On: May 27, 2022   |   Posted By: The Atlantic

HBO's Silicon Valley aired its final episode last year, the tech world's realities having gotten too dystopian to be fictionalized, in good conscience, for laughs. When a reporter asked what material the show had left on the table, the showrunners, Mike Judge and Alec Berg, admitted, “We missed the WeWork guy.” That guy-WeWork's telegenic co-founder and former CEO, Adam Neumann-had once been known for turning an upscale co-working business into America's most valuable private start-up, peddling vague kumbayas like This decade is the decade of “We.” But then WeWork filed paperwork to go public , revealing that the company had lost billions of dollars while enriching Neumann. Among other extraordinary disclosures, it turned out that he had bought we-related trademarks, then charged WeWork $5.9 million to buy them. The press soon uncovered other details to fill out the portrait of a terrible little richling: Neumann's practice of hotboxing chartered jets , whether his co-passengers liked it or not; his musings...

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